[SINGAPORE] The prices of Housing and Development Board (HDB) resale flats in Clementi jumped by 15.4 per cent in the first quarter of 2025 from the previous quarter, with average prices reaching S$705,598, according to a report by property agency OrangeTee on Tuesday (May 6).
In the previous quarter, average prices in Clementi had contracted by 0.7 per cent from the third quarter of 2024 to reach S$611,618.
The town’s resale prices outpaced an islandwide slowdown in price growth, as HDB flat resale prices ascended at a slower pace of 1.6 per cent. This is in comparison to the expansion of 2.6 per cent recorded across Singapore in the fourth quarter of 2024, and the 2.7 per cent rise in Q3.
After the Clementi flats, those with the largest price surges from the previous quarter were in Marine Parade, where prices of resale units climbed 7.2 per cent, and in Bukit Merah, which registered a 6.2 per cent rise.
On the flip side, flats in the central area sold for 18.5 per cent less on average in the quarter, while prices in Geylang fell 7 per cent.
The number of towns experiencing decreasing quarterly HDB prices went up from six to seven during Q1, the report found. It noted that the price declines were considerably larger than the highest decline of 5 per cent in Q4.
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“The price trends are further indications of increasing price resistance among buyers, and the market may experience slower price growth in the upcoming months,” the report added.
It noted that demand for premium flats at the upper end of the price spectrum had increased. Sales of units fetching at least S$800,000 rose from 1,115 units in the prior quarter to 1,183. This was also a 35 per cent year-on-year increase from 876 in the previous corresponding period. Tampines recorded the most such transactions with 134 units sold, followed by Toa Payoh with 120.
“Potential buyers in the lower and mid-range market segments may be more price resistant, whereas affluent buyers appear unfazed and are willing to invest in premium flats,” OrangeTee noted.
The property agency flagged that the market’s mid-term outlook would depend on how ongoing trade tensions develop.
“Amid an atmosphere of heightened caution, many potential buyers may exercise greater restraint to avoid overstretching their budgets,” the agency said. “Sellers of certain flats may face limited price increases and might need to adjust their expectations to remain competitive in a cautious market.”
