HDB resale prices dip 0.6% in October as sales volume slides

The highest-priced transaction for the month was a five-room flat at Boon Keng Road that sold for $1.55m. 

HDB resale prices edged down in October 2025, whilst transaction volumes saw a significant decline, according to flash estimates from the Housing & Development Board.

The overall resale price index fell by 0.6% MoM to 208.4, down from 209.7 in September. Despite the monthly dip, prices remained 3.8% higher YoY.

By estate type, prices in mature estates declined 0.5% from the previous month, whilst non-mature estates saw a steeper drop of 0.9%. Year-on-year, mature and non-mature estates registered price increases of 4.0% and 3.4% respectively.

Performance also varied across flat types. Three-room and five-room flats recorded slight price increases of 0.3% MoM, whilst four-room flats saw a 1.3% decline. Executive flats were unchanged from the previous month.

Resale volumes fell sharply, with 1,347 transactions recorded in October—a 38.4% decline from September and 37.6% lower than a year ago. Of these, 55.9% took place in non-mature estates and 44.1% in mature ones.

By flat type, four-room flats made up the largest share at 45.2%, followed by three-room (26.6%), five-room (23.5%), and executive flats (4.6%).

The highest-priced transaction for the month was a five-room flat at Boon Keng Road that sold for $1.55m. In non-mature estates, the top sale was an executive flat in Woodlands Street 82, which transacted for $1.27m.

The number of million-dollar flat transactions more than halved, with 87 such deals recorded in October—down from 172 in September.

These accounted for 6.5% of all resale transactions. Toa Payoh led the count with 20 million-dollar sales, followed by Bukit Merah (13) and Kallang/Whampoa (11).

Other towns with at least one such transaction included Queenstown, Geylang, Ang Mo Kio, Bishan, Clementi, and several others.