February 2020 HDB Resale Prices Increase 0.7% on Lower Volumes

05 March
Property Data
1. HDB resale prices increase by 0.7% in February 2020 over January 2020.  All room types experience monthly price increases: 3 Room by 0.6%, 4 Room by 0.1%, 5 Room by 1.1% and Executive by 0.9%. Mature Estates prices increase by 1.3% while Non-Mature Estates prices decrease by 0.3%, as compared to January 2020. 
hdb resale price index 2020 february
hdb resale price index by property type 2020 february
hdb resale median price 2020 february

According to the SRX Property Price Index for HDB Resale:
  • Prices in February 2020 are 1.0% higher from the preceding year.
  • February 2020 prices are 13.0% lower than the peak in April 2013.
  • Year-on-year, except for 3 Room which decreases by 0.5%, all room types experience price increases: 4 Room by 0.7%, 5 Room by 1.2% and Executive by 0.9%.
  • Year-on-year, Mature Estates prices decrease by 0.6% while Non- Mature Estates prices increase by 2.2%.
hdb mature and non mature estate price index 2020 february
hdb mature and non mature estate price index2 2020 februrary

2. 1,668 HDB resale transactions in February 2020, representing a 13.1% decrease from January 2020. 
hdb resale volume 2020 februrary
  • Year-on-year, resale volume in February 2020 is 26.9% higher than the previous year. 
  • Breaking down by room types, in February 2020, 44.2% of the volume comes from HDB 4 Room, 24.5% from 5 Room, 22.1% from 3 Room and 6.8% from Executive. The rest are from 2 Room and 1 Room.

3. The highest transacted price for a resale flat in the month is achieved at $1,100,000 by a 5 Room unit at Commonwealth Drive; In Non-Mature Estates, the highest transacted price is achieved at $858,000 by an Executive Maisonette unit at Hougang St 21. 
  • In February 2020, there are five HDB resale flat transacted for at least $1,000,000.

4. Overall median Transaction Over X-Value (T-O-X) is POSITIVE $2,000 in February 2020. This represented an increase of $2,500 from January 2020. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX Property X-Value estimated market value. 
hdb median transaction over xvalue 2020 februray
  • HDB 3 Room records NEGATIVE $1,000 median T-O-X, while HDB 4 Room, 5 Room and Executive record POSITIVE $2,000, POSITIVE $3,000 and POSITIVE $11,000.
  • Serangoon posts the highest median T-O-X at POSITIVE $14,000 in February 2020, followed by Geylang at POSITIVE $7,000.
  • Marine Parade posts the lowest median T-O-X at NEGATIVE $26,000, followed by Bishan at NEGATIVE $24,500.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

5. An estimated 6,799 flats will become eligible to join the HDB resale market in the next three months, based on SRX data, as these units approach their respective official 5-year Minimum Occupation Period. 
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