The latest HDB resale market data has revealed an interesting trend. While overall HDB resale prices have declined for the second consecutive quarter, the number of million-dollar HDB transactions has reached a new record. At first glance, this may seem contradictory, but it actually reflects how different segments of Singapore’s property market are performing.
HDB Resale Prices Continue to Moderate
According to the latest figures, the HDB Resale Price Index fell by 0.3% in Q2 2026 after a slight decline in the previous quarter. This marks the second consecutive quarterly decline, signalling that the market is gradually stabilising after several years of rapid price growth.
Several factors have contributed to this slowdown:
- More BTO flats entering the market
- Increased supply of flats reaching their Minimum Occupation Period (MOP)
- Buyers becoming more price-sensitive
- Greater uncertainty surrounding the economy and employment
For many homebuyers, this creates more options and reduces the urgency to purchase immediately.
Why Are Million-Dollar Flats Still Breaking Records?
Interestingly, despite softer overall prices, million-dollar HDB sales continue to rise.
In Q2 2026, there were 491 HDB resale flats sold for at least $1 million, the highest number ever recorded for a single quarter. These premium flats are mostly located in mature estates such as Queenstown, Bukit Merah, Toa Payoh and the Central Area, where demand remains exceptionally strong.
These buyers are often looking for:
- Prime locations near the city
- Larger flat sizes
- Excellent transport connectivity
- Well-developed amenities
- Flats with remaining long leases
As a result, while the overall market cools, desirable premium properties continue to command strong prices.
What Does This Mean for Buyers?
If you’re planning to buy an HDB resale flat, today’s market may offer more opportunities than in previous years.
With prices becoming more stable, buyers have:
- More negotiating power
- A wider selection of available flats
- Less pressure to make rushed decisions
However, if you’re targeting highly sought-after locations, competition remains strong and premium prices are likely to continue.
What Does This Mean for Sellers?
For sellers, pricing your property correctly is becoming increasingly important.
The days of expecting every flat to receive multiple offers above the asking price may be slowing. Buyers are comparing more options and are becoming increasingly cautious.
Properties that are well-maintained, realistically priced and located in desirable areas are still attracting healthy interest.
Should You Buy or Wait?
There’s no one-size-fits-all answer.
If you’ve found a home that suits your family’s needs and your finances are comfortable, waiting for significantly lower prices may not necessarily benefit you.
On the other hand, if you’re upgrading or investing, understanding current market trends can help you make a more informed decision.
Every property journey is different, and timing should always be based on your personal goals, not just market headlines.
Need Advice on Your Property Plans?
Whether you’re buying your first home, upgrading, selling your current property or simply exploring your options, speaking with an experienced property advisor can help you make confident decisions based on your unique situation.