April 2020 HDB Resale Volumes Plummet by 78% Amid Circuit-Breaker

08 May 2020
Property Data
1. HDB resale price index marginally lower in April 2020 over March 2020. Mature Estates prices decrease by 0.3% while Non-Mature Estates prices increase by 0.2%, as compared to March 2020.  In terms of room type, 3 Room, 4 Room and Executive prices decline by 1.5%, 0.2% and 1.8%, respectively while 5 Room prices rise by 0.2%. 

hdb resale price index 2020 april
hdb resale price index by property type 2020 april
hdb resale median price 2020 april

According to the SRX Property Price Index for HDB Resale:
  • Prices in April 2020 are 1.0% higher than the preceding year and 0.04% lower than March 2020.
  • April 2020 prices are 13.2% lower than the peak in April 2013.
  • Prices for most room types remain higher than a year ago: 4 Room by 0.9%, 5 Room by 2.1% and Executive by 0.2%. Prices for 3 Room flats, however, decreased by 1.8% year-on-year.
  • Year-on-year, Mature Estates prices decrease by 0.9% while Non- Mature Estates prices increase by 2.2%.
hdb mature and non mature estate price index 2020 april
hdb mature and non mature estate price index2 2020 april

2. 423 HDB resale transactions in April 2020, representing a 78.3% decrease from March 2020.
hdb resale volume 2020 april
  • Year-on-year, resale volume in April 2020 is 78.1% lower than the previous year.
  • Breaking down by room types, in April 2020, 40.9% of the volume comes from HDB 4 Room, 26.7% from 5 Room, 22.5% from 3 Room and 9.0% from Executive. The rest are from 2 Room.

3. The highest transacted price for a resale flat in the month is achieved at $1,010,000 by a 5 Room unit at SkyTerrace @ Dawson in Queenstown; In Non-Mature Estates, the highest transacted price is achieved at $713,800 by a 5 Room unit at Lake Vista @ Yuan Ching in Jurong West.
  • In April 2020, there is only one HDB resale flat transacted for at least $1,000,000.

4. Overall median Transaction Over X-Value (T-O-X) is ZERO in April 2020. This represented no change from March 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 april
  • HDB 3 Room records a NEGATIVE $200 median T-O-X while Executive records a POSITIVE $3,000. Both HDB 4 Room and 5 Room record ZERO median TOX.
  • Bishan posts the highest median T-O-X at POSITIVE $17,500 in April 2020, followed by Choa Chu Kang and Jurong West at POSITIVE $6,000.
  • Bukit Merah posts the lowest median T-O-X at NEGATIVE $20,000, followed by Bedok at NEGATIVE $10,000.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.
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