In 2Q 2024, HDB resale flat transactions reached 7,352, a 4.0% increase from 1Q 2024 and the highest quarterly transactions since 3Q 2022. Mature estate resale flats near PLH BTOs saw higher interest due to a lack of PLH restrictions. The most popular HDB towns were Tampines, Woodlands, Sengkang, Jurong West, and Punggol, comprising 33.6% of total transactions in 2Q 2024.

Due to the stronger demand and record number of million-dollar flats, HDB resale flats prices rose by 2.3%, up from 1.8% in 1Q 2024. Prices increased in 21 out of 26 towns, with Geylang leading at 13.4%, followed by Marine Parade at 11.5% and the Central Area at 9.3%.

Strong demand for resale flats is expected in 2H 2024 from ex-private property owners and buyers who are afraid of missing out. HDB resale volume estimates are revised up to 26,000 to 28,000 this year, with prices forecasted to grow up to 10%.