HDB resale flat prices in Singapore saw a 1% increase in January 2025 compared to the previous month, according to the latest 99-SRX Media Flash Report.
This rise marks a continuation of the upward trend from December’s 0.2% growth. The report highlights a shift in bargaining power towards buyers, with prices stabilising near recent transaction levels as many areas have reached record highs.
The report, attributed to Luqman Hakim, Chief Data & Analytics Officer at 99.co, projects a more moderate price increase of 4% to 6% for 2025, compared to the 9% rise in 2024.
Despite this moderation, transactions of million-pound flats remain robust, with 119 such sales recorded in January alone, just one shy of the all-time high. Larger homes, such as lofts and maisonettes, continue to drive these high-value deals as buyers seek more spacious living options.
In January, 2,329 HDB resale flats were transacted, a 9.4% increase from December 2024. However, this figure represents an 11.4% decrease compared to January 2024.
The highest transacted price for the month was $1.6m for a 5-room flat at Lor 1A Toa Payoh, while the highest in Non-Mature Estates was $1.168m for an Executive flat at Toh Guan Rd.
The launch of more Build-To-Order flats this year is anticipated to alleviate some pressure on the resale market, potentially moderating price growth. However, global economic uncertainties, such as recent US tariffs, could pose challenges to market stability.
