See which towns in Singapore hit new records for HDB prices

The highest record was S$1.5 million in Bukit Merah.

According to an OrangeTee report, Singapore’s HDB resale prices picked up in the second quarter of this year, flash estimates released by HDB showed. 

Prices edged up for the 13th consecutive quarter, rising by 1.4 per cent in Q2 after growing 1 per cent in the preceding quarter. 

Here’s more from OrangeTee:

The price increase was mainly driven by 5-room flats whose average prices rose by 1.9 per cent from S$672,674 in Q1 2023 to S$685,660 in Q2 2023. Prices of executive flats rose by 1.7 per cent from S$813,350 to S$827,549, while prices of 4-room flats increased by 1.3 per cent from S$571,995 to S$579,708 over the same periods (Chart 1). 

The average resale price of flats increased in 21 out of 26 towns in Q2 2023. Geylang registered the biggest price growth of 18.7 per cent, followed by Central Area at 8.6 per cent, Bedok at 4.3 per cent and Tampines at 4.1 per cent.

17 out of 26 towns saw prices hitting new records this year (Table 1). The highest record was S$1.5 million in Bukit Merah, followed by S$1.42 million in Toa Payoh, and S$1.4 million in Bishan. Currently, only five towns have yet to see a million-dollar flat. Among them, Sengkang, Jurong West, and Bukit Panjang may see the first million-dollar transaction soon since there were flats sold above S$900,000.