# HDB resale prices fall for second consecutive quarter; private home prices edge up 0.5%

- **Source:** Channel NewsAsia
- **Published:** 2026-07-01T02:37:00.000Z
- **Author:** Renee Kuek
- **Original:** https://www.channelnewsasia.com/singapore/hdb-resale-private-property-home-prices-6223346
- **Topics:** HDB & Public Housing, Private Residential, Government & Policy

## Featured rationale

The divergence signals cautious public-housing demand alongside continued private-market resilience, with additional BTO and resale supply potentially restraining HDB prices further.

## AI summary

HDB resale prices fell 0.3 per cent in Q2 2026 as volumes dropped 10.2 per cent year-on-year, while private home prices rose 0.5 per cent.

## Original article

SINGAPORE: The resale price index for public housing fell for a second consecutive quarter , while private property prices continued to rise, albeit at a slower pace than the previous quarter. In flash estimates released by the Housing and Development Board (HDB) on Wednesday (Jul 1), the resale price index fell by 0.3 per cent in the second quarter of 2026. It dipped by 0.1 per cent in the first quarter, falling for the first time in almost seven years. Meanwhile, private residential property prices rose by 0.5 per cent in the second quarter, down from 0.9 per cent in the previous quarter, according to Urban Redevelopment Authority (URA) flash estimates. Senior director of data analytics at Huttons, Lee Sze Teck, noted the HDB resale market had "remained sluggish". “Buyers are cautious in their offered prices in view of the uncertainties in the employment market,” he said. "Many buyers opted to try their luck for a BTO (Build-to-Order) flat especially in Prime locations." Ms Christine Sun, chief researcher and strategist of Realion (OrangeTee & ETC) Group, also cited a "weaker hiring outlook" as a factor affecting the HDB resale market. "The softer job market and structural layoffs may instill greater prudence in homebuyers, as any changes can impact buyers’ financial confidence and borrowing capacity." She noted that in the second quarter, "overall prices dipped at a slightly faster pace, on the back of a decline of average prices across many towns". "Transaction volumes were also lower year-on-year, reflecting a general market slowdown." Of the 16 towns that registered quarterly resale price declines, the largest fall was seen in Serangoon, at 7.9 per cent, followed by Marine Parade (7.6 per cent) and Geylang (6.9 per cent), according to Ms Sun. Resale activity also declined in the second quarter. As of Jun 29, resale volume fell by 10.2 per cent to 6,268 transactions from 6,981 transactions in the same period last year. The softer HDB resale market has led to fewer enquiries for resale flats and longer selling times, with such flats taking an average of two to three months to sell, Mr Lee said. The market "may likely continue to stay flat" in the second half of 2026, he noted, pointing out that buyers will have more options from BTO projects and the 13,484 resale flats which will meet the five-year minimum occupation period (MOP) in 2026. HDB will launch about 7,960 flats in Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun in the October sales exercise . PRIVATE PROPERTY PRICES URA data showed that prices of non-landed private residential properties decreased by 0.1 per cent, compared to the 1.3 per cent increase in the previous quarter. Prices of such properties in the Core Central Region rose 2 per cent, up from a 0.6 per cent increase in the preceding quarter. Prices in the Rest of Central Region fell by 1.4 per cent, down from a 0.8 per cent increase last quarter, while prices in the Outside Central Region decreased by 0.2 per cent versus the 2.2 per cent increase in Q1. Landed property prices increased by 2.6 per cent in Q2, up from the 0.4 per cent decrease in the previous quarter. Sale transaction volume was broadly comparable between the first and second quarter. URA said that its flash estimates are compiled based on transaction prices submitted for stamp duty payment and data on units sold by developers from Apr 1 to mid-June. The Ministry of National Development (MND) previously announced on Jun 3 that land for 4,745 new private homes would be released in the second half of 2026. The total confirmed supply for 2026 reached 9,320 as a result, bringing the total pipeline of private homes to about 61,000 units. "The macroeconomic outlook remains highly uncertain,” URA and HDB said, urging households to “exercise prudence when purchasing property and taking out mortgage loans". On private home sales in the second half of the year, SRI's head of research and data analytics Mohan Sandrasegeran noted that "market activity is expected to regain momentum as fresh wave of residential launches enters the market". "While inflationary pressures and a moderating economic outlook may lead some buyers to adopt a more cautious approach, we do not expect demand for new launches to weaken significantly," he said. "Instead, the market is likely to be buyers placing greater emphasis on location, pricing and overall value."

## Chinese translation

> Translation model: grok

### HDB转售价格连续第二季下跌；私人住宅价格微升0.5%

分析师将“招聘前景转弱”列为HDB转售市场“低迷”的因素之一。

新加坡：公共住房转售价格指数连续第二季下跌，私人住宅价格则继续上升，但升幅较上季放缓。建屋发展局（HDB）周三（7月1日）发布的初步估算显示，2026年第二季转售价格指数下跌0.3%。第一季曾微跌0.1%，为近七年来首次下跌。与此同时，市区重建局（URA）初步估算显示，私人住宅价格第二季上涨0.5%，低于上季的0.9%。

浩登（Huttons）数据分析高级董事李斯德指出，HDB转售市场“持续低迷”。他说：“鉴于就业市场不确定性，买家在出价上较为谨慎。”“许多买家选择碰运气申请预购组屋（BTO），尤其是优质地段项目。”

瑞联（OrangeTee & ETC）集团旗下Realion首席研究员兼策略师孙燕华亦将“招聘前景转弱”列为影响HDB转售市场的因素。“就业市场趋软与结构性裁员或使购房者更加审慎，因为任何变化都可能影响买家的财务信心与借贷能力。”

她指出，第二季“整体价格跌幅略为加快，背后是多个市镇平均价格下滑”。“成交量亦同比下降，反映整体市场放缓。”

据孙燕华，录得季度转售价格下跌的16个市镇中，跌幅最大的是实龙岗，达7.9%，其次为马林百列（7.6%）与芽笼（6.9%）。

第二季转售活动亦减少。截至6月29日，转售成交量按年下跌10.2%至6,268宗，去年同期为6,981宗。李斯德表示，HDB转售市场趋软导致转售询盘减少、出售周期拉长，此类组屋平均需两至三个月才能售出。他指出，2026年下半年市场“很可能继续持平”，买家将有更多选择，包括预购组屋项目，以及2026年将满五年最低居住年限（MOP）的13,484套转售组屋。

HDB将于10月销售活动中在勿洛、芽笼、三巴旺、登加、大巴窑与义顺推出约7,960套组屋。

私人住宅价格

URA数据显示，非有地私人住宅价格下跌0.1%，上季则为上涨1.3%。核心中央区（CCR）此类物业价格上涨2%，高于上季的0.6%。中央区其他地区（RCR）下跌1.4%，上季为上涨0.8%；中央区以外地区（OCR）下跌0.2%，第一季曾上涨2.2%。有地住宅价格第二季上涨2.6%，上季则下跌0.4%。

第一季与第二季销售成交量大体相当。URA表示，初步估算依据4月1日至6月中旬提交印花税的成交价及发展商售出单位数据编制。

国家发展部（MND）此前于6月3日宣布，2026年下半年将释出可建4,745套新私人住宅的土地。由此2026年确认供应总量达9,320套，私人住宅供应管道总计约6.1万套。

URA与HDB表示：“宏观前景仍高度不确定”，并敦促家庭“在购房及办理按揭贷款时审慎行事”。

关于下半年私人住宅销售，SRI研究与数据分析主管Mohan Sandrasegeran指出，“随着新一波住宅项目入市，市场活动有望重拾动能”。“尽管通胀压力与经济前景放缓或使部分买家更趋谨慎，我们预计新盘需求不会显著转弱，”他说。“相反，市场更可能出现买家更重视地段、定价与整体性价比的情况。”