Upcoming Flat Supply

In 2024, HDB launched 21,225 new flats, comprising 19,637 Build-To-Order (BTO) flats and 1,588 flats offered under the Sale of Balance Flats (SBF) exercise. In February 2025, HDB will offer about 5,000 BTO flats in Kallang/Whampoa, Queenstown, Woodlands and Yishun and concurrently launch the largest-ever SBF exercise with more than 5,500 flats across various towns/estates¹. In total, there will be more than 10,000 new flats on offer in February 2025. More details on the BTO and SBF exercise will be shared at the February 2025 sales exercise.

2 With that, HDB remains on track to launch 100,000 flats between 2021 to 2025.

HDB Resale Market

3 HDB’s flash estimate of the 4th Quarter 2024 Resale Price Index (RPI) is 197.7.an increase of 2.5% over that in the 3rd Quarter 2024. This is lower than the 2.7% in 3rd Quarter 2024 (see Annexes A1 and A2). Based on the flash estimate, resale flat prices for 2024 have risen by 9.6%.

4 The resale volume in 4th Quarter 2024 (up to 30 December) is 6,314. This is 3.6% lower than that in the same period last year (6,547 cases). For the full year up to 30 December 2024, the total resale volume is 28,876, which is 8.0% higher than the corresponding period last year (26,735 cases).

5 The resale prices in 4Q2024 continued to be driven by a strong broad-based demand, as well as some supply tightness in the market. The Government had lowered the Loan-to-Value limit for HDB housing loans from 80% to 75% in August 2024 to cool the market and encourage greater prudence among home buyers.

6 Households are strongly advised to exercise prudence in their property purchases as the property market moves in cycles and those who buy high will be hit harder if prices weaken. The Government will monitor the property market closely and adjust its policies as necessary to promote a stable and sustainable property market.

7 The RPI provides information on the general price movements in the resale public housing market. The transacted prices of individual flats (by block and flat type) can be found via the e-services on HDB InfoWEB.

¹ The new flat classification framework will not apply to existing HDB flats and flats launched before the October 2024 BTO exercise, when these units are re-offered for sale in SBF exercises.

Upcoming Flat Supply and Flash Estimate of 4th Quarter 2024 Resale Price Index