News > Million-dollar HDB in August 2023: A different story told by real-time data
Million-dollar HDB in August 2023: A different story told by real-time data
13 September 2023
In the dynamic world of Singapore's real estate market, August 2023 has set a new benchmark. Recent data shared by HDB for August 2023 reports 54 transactions of million-dollar HDB. Topping the list was a dazzling sale at The Pinnacle@Duxton for an impressive $1.48 million, and another unit with a record-breaking price of $1,394 psf.
REA Team has looked into this and, not to our surprise, our data shows differently. Here’s why:
*Please refer to our artcle: Agency Submissions vs. HDB Publications: Which Offers More Real-Time Insights for HDB resale market? to understand our definitions
We are the largest provider of agency submission data in Singapore. Being able to receive data from the top agencies directly allows us to capture the data in real-time, without the need to wait for HDB releases.
Now let’s take a look at what our data shows about the million-dollar HDB in August 2023.
1. Highest Recorded Price (S$) for a HDB transaction in August 2023
Our data brings a twist to the tale: August's highest transaction wasn't the $1.48 million sale at The Pinnacle@Duxton. Instead, a 3-room unit in Eng Watt Street (District 03) claimed that title, fetching a staggering $1.61 million, which has not yet been published by HDB.
2. Highest Recorded Price per Square feet (PSF) (S$) for a HDB transaction in August 2023
Additionally, while HDB's spotlight was on The Pinnacle@Duxton's $1,394 psf unit for August, our records tell a slightly different story. Interestingly, this transaction was recorded by REA in July, earlier than HDB’s publication. Meanwhile, the crown for the highest PSF in August goes to another unit at Pinnacle@Duxton, but at $1,301 PSF.
Last thoughts
While HDB's records provide an invaluable resource for long-term trends and broad market insights, real-time databases, such as REA, offer immediate, up-to-the-minute data that can be crucial for property professionals, investors, and potential buyers.
As the real estate landscape becomes increasingly dynamic, real-time data can offer a competitive edge and immediate insight of the market, enabling swift and informed decisions. To further underline the importance and relevance of timely data, our monthly report - "Singapore Property Market Snapshot August 2023," offers a deep dive into the month's trends, supported by insights directly sourced from REA's database. This article not only reinforces the advantage of real-time data but also provides actionable insights for professionals and buyers alike.
Disclaimer: Please note that the submission data we provide represents initial transaction submissions and may not necessarily correspond to the finalised transactions published by HDB. All transactions are subject to review and final approval by HDB.
All analytical and visually interpreted data in this a is powered by RealAgent, a comprehensive app for real estate professionals. It offers a blend of property information, real-time transaction data, and advanced analytics, ensuring accurate and up-to-date insights for our report. Find out more about RealAgent here.
Download the full report (PDF) here: Million dollar HDB in August 2023 - A different story told by real-time data.pdf
To know more about our data-driven real estate solutions, contact us here.
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