Singapore HDB resale volume declines by 3.6% to 6,314 units in Q4 2024

The decline was due to over 8,500 new flats launched in October.

According to OrangeTee, Singapore’s HDB resale volume declined by 3.6 per cent, dropping from 6,547 cases in Q4 2023 (up to 30 December) to 6,314 in Q4 2024 (up to 30 December).

On a quarterly basis, sales volume dipped by 22.5 per cent from 8,142 units in Q3 2024 to 6,314 in Q4 2024 (up to 30 December).

Here’s more from OrangeTee:

The sales decline observed in the fourth quarter of this year was primarily due to the Housing and Development Board (HDB) launching over 8,500 new flats in October, many of which are situated in prime and desirable locations. The attractive features of these flats, including scenic views and proximity to MRT stations, diverted demand away from the resale market towards the Built-To-Order (BTO) market.

Moreover, sales tend to be slower during the year-end because of the school holidays, when many Singaporeans tend to travel abroad. As a result, housing viewings and sales activities typically decrease during this time.

For the whole of 2024, resale volume was 28,876, which is 8 per cent higher than the corresponding period last year at 26,735 units, and 2022 at 27,896 units. However, this is lower than the 31,017 units in 2021.