HDB resale prices surged 2.5% in Q3 2024, supported by strong demand and a tight supply of flats. A total of 8,035 resale flats were sold, marking a 20% increase from the same period last year. Million-dollar transactions reached 328 in Q3, pushing the total to 747 for 2024, surpassing last year’s figure of 469.
HDB introduced cooling measures in August 2024, reducing the loan-to-value limit from 80% to 75% to encourage financial prudence. Additionally, the new BTO classification — Prime, Plus, and Standard — will take effect from October 2024, with stricter resale conditions for Prime and Plus flats, including a 10-year Minimum Occupation Period (MOP) and subsidy clawbacks.
HDB advised buyers to exercise caution, especially in a heated market, and highlighted that million-dollar flats remain a small proportion of all transactions. It urged households to make careful purchasing decisions to avoid future challenges if prices cool
