# HDB resale transactions jump 19.5% q-o-q in 3Q2026 amid policy changes

- **Source:** EdgeProp Singapore
- **Published:** 2026-10-23T02:06:27.000Z
- **Author:** Ashley Lo
- **Original:** https://www.edgeprop.sg/property-news/hdb-resale-transactions-jump-195-q-o-q-3q2026-amid-policy-changes
- **Topics:** HDB & Public Housing, New Launches, Government & Policy

## Featured rationale

Higher volumes alongside softer prices signal healthy but more price-conscious demand, potentially creating a more balanced market as upcoming BTO supply competes with resale flats.

## AI summary

HDB resale transactions rose 19.5% quarter on quarter to 7,645 in 3Q2026, while the resale price index declined 0.1% for a third consecutive quarter.

## Original article

Singapore’s public housing market saw a sharp increase in HDB resale transaction volumes in the third quarter of 2026. According to the Oct 23 HDB data release, 7,645 resale flats were transacted in 3Q2026, increasing on both a y-o-y and q-o-q basis.

The HDB resale market in the latest quarter was “largely shaped by policy shifts, seasonal trends and the absence of Build-To-Order (BTO) launches”, said Lee Sze Teck, senior director of data analytics of Huttons Asia.

The number of resale transactions rose by 19.5% in the latest quarter from 6,396 in 2Q2025, marking the highest volume of flats sold since 2024.

Read also: What's moving the market: Singapore's biggest property deals and hottest searches (Oct 16)

This was supported by a jump in the number of five-room and larger flats sold during the quarter, following the removal of the 15-month wait-out period for private property owners (PPOs) and ex-PPOs buying a non-subsidised resale flat in July, added Lee.

A total of 1,867 five-room flats and 545 executive and multi-generation flats were transacted in 3Q2026, spiking 26.7% q-o-q and 41.6%, respectively.

HDB resale transactions by flat type, 3Q2026

The five most popular HDB towns were Punggol, Sengkang, Tampines, Woodlands and Yishun. They accounted for around 36.6% of total transactions during the quarter.

Resale prices dip marginally

Meanwhile, HDB data showed that resale prices slipped for a third consecutive quarter, albeit at a moderate pace.

The resale price index inched down 0.1% q-o-q in 3Q2026, easing from the 0.3% fall logged in 2Q2025.

The third quarter saw nine out of 26 HDB towns recording price falls. The Central Area saw the largest decline of 8.4%, followed closely by Ang Mo Kio (-4.7%) and Jurong East (-4.3%).

Huttons’ Lee said: “While there was considerably more demand in the five-room and larger flats segment in 3Q2026, the impact on prices was relatively subdued.”

Read also: A five-room flat in Bedok was just sold for $1.54 million, setting a new record high for HDB flats in the town

Mohan Sandrasegeran, head of research and data analytics at SRI, noted that the moderation in resale prices does not reflect a “broad-based weakening in buyer interest”.

Instead, it suggests a gradual translation towards a more balanced environment, coming on the back of several years of sustained price growth.

“While demand for resale flats remains relatively healthy, buyers appear to be exercising greater consideration over pricing, particularly as more housing options become available across the resale and new flat markets,” said Sandrasegeran.

Million-dollar flat sales hit record high

More buyers were willing to pay top dollar for resale HDB flats as million-dollar flat transactions reached a quarterly high of 596 in 3Q2026. That is the first time it has surpassed 500 transactions, marking an 21.6% q-o-q increase from the 490 units that changed hands in 2Q2026.

Resale HDB flat transactions priced at $1 million and above

Eugene Lim, key executive officer of ERA Singapore, observed that around 50.2% of million-dollar transactions in 3Q2026 involved resale flats aged 15 years or less, accounting for 299 deals.

“Younger flats have been a mainstay of million-dollar deals, as their new condition and longer remaining leases offer greater appeal,” Lim commented.

Read also: What's moving the market: Singapore's biggest property deals and hottest searches (Oct 9)

During the latest quarter, 26 transactions involved flats transacting above the $1.5 million threshold.

These transactions were concentrated in towns such as Queenstown, Bishan, the Central Area, Clementi, and Toa Payoh, according to Realion (OrangeTee & ETC) Group.

Resale market to face headwinds

Huttons’ Lee anticipates that the HDB resale market may bottom out in the last quarter of the year.

He pointed to the upcoming November 2026 BTO sales exercise, which will offer 7,690 new flats in sought-after locations such as Bayshore and Toa Payoh, as a factor that could temper resale activity.

Christine Sun, chief researcher and strategist at Realion Group, anticipates that the higher income ceiling for BTO flats following recent policy changes could divert demand away from larger, higher-priced resale flats.

Against this backdrop, Realion has revised its forecast for HDB resale price growth to 0% to 2% for the full year of 2026.

Despite this, SRI’s Sandrasegeran said that the resale market could observe a more “balanced distribution of demand” between the new and resale flat markets.

“Nevertheless, resale flats are expected to remain attractive to buyers with more immediate housing requirements, as well as thse prioritising specific locations, larger living spaces, or established neighborhood amenities,” he said.

SRI expects resale transaction volumes to total about 26,000 to 27,000 flats in 2026, with full-year price movements expected to come in between -1% to 1%.

## Chinese translation

> Translation model: grok_cli

### 2026年第三季度组屋转售成交量在政策变动之际环比跃升19.5%

但转售价格已连续第三个季度下滑。尽管较大户型组屋的需求增加，其对价格的影响仍然有限。

新加坡公共住房市场在2026年第三季度的组屋转售成交量大幅上升。根据建屋发展局10月23日发布的数据，2026年第三季度共有7,645个转售组屋成交，同比及环比均有所增加。

合登亚洲（Huttons Asia）数据分析高级总监Lee Sze Teck表示，最近一个季度的组屋转售市场“在很大程度上由政策转变、季节性趋势，以及预购组屋（BTO）未有推出所塑造”。

最近一个季度的转售成交量较2025年第二季度的6,396宗上升19.5%，为2024年以来售出组屋数量的最高水平。

另请阅读：市场动向：新加坡最大房产交易与最热门搜索（10月16日）

Lee补充说，这得到本季度五房式及更大户型组屋售出数量跳升的支撑。在此之前，私人住宅业主（PPO）及前私人住宅业主购买非补贴转售组屋的15个月等待期已于7月取消。

2026年第三季度共成交1,867个五房式组屋，以及545个公寓式组屋与多代同堂组屋，环比分别飙升26.7%和41.6%。

2026年第三季度按户型划分的组屋转售成交

最受欢迎的五个组屋市镇为榜鹅、盛港、淡滨尼、兀兰和义顺。它们约占该季度总成交量的36.6%。

转售价格微幅下跌

与此同时，建屋发展局数据显示，转售价格已连续第三个季度下滑，不过跌幅较为温和。

2026年第三季度转售价格指数环比微降0.1%，跌幅较2025年第二季度录得的0.3%有所放缓。

第三季度，26个组屋市镇中有9个录得价格下跌。中区跌幅最大，达8.4%，紧随其后的是宏茂桥（-4.7%）和裕廊东（-4.3%）。

合登的Lee表示：“尽管2026年第三季度五房式及更大户型组屋的需求明显增加，但对价格的影响相对有限。”

另请阅读：勿洛一套五房式组屋刚刚以154万新元售出，创下该市镇组屋新高

SRI研究与数据分析主管Mohan Sandrasegeran指出，转售价格放缓并不反映“买家兴趣全面减弱”。

相反，这表明，在连续数年价格持续上涨之后，市场正逐步转向更为平衡的环境。

Sandrasegeran表示：“尽管转售组屋需求仍然相对健康，买家在价格上似乎作出更多考量，尤其是随着转售市场和新组屋市场都有更多住房选择。”

百万新元组屋销售创下新高

更多买家愿意为转售组屋支付高价，百万新元组屋成交在2026年第三季度达到596宗的季度新高。这是成交量首次超过500宗，较2026年第二季度易手的490个单位环比增加21.6%。

售价达100万新元及以上的转售组屋成交

ERA新加坡主要执行官Eugene Lim观察到，2026年第三季度约50.2%的百万新元成交涉及屋龄15年或以下的转售组屋，共计299宗。

Lim评论说：“较新的组屋一直是百万新元交易的主力，因为其较新的状况和较长的剩余租约更具吸引力。”

另请阅读：市场动向：新加坡最大房产交易与最热门搜索（10月9日）

最近一个季度，有26宗交易的组屋成交价超过150万新元这一门槛。

据Realion（OrangeTee & ETC）集团称，这些交易集中在女皇镇、碧山、中区、金文泰和大巴窑等市镇。

转售市场将面临逆风

合登的Lee预计，组屋转售市场可能在今年最后一个季度见底。

他指出，即将于2026年11月举行的预购组屋销售活动将在碧湾和大巴窑等热门地点提供7,690个新组屋，这一因素可能给转售活动降温。

Realion集团首席研究员兼策略师Christine Sun预计，近期政策变动后预购组屋收入上限提高，可能使需求从较大、价格较高的转售组屋转移开。

在此背景下，Realion已将2026年全年组屋转售价格涨幅预测修订为0%至2%。

尽管如此，SRI的Sandrasegeran表示，转售市场可能会看到新组屋市场与转售组屋市场之间更为“均衡的需求分布”。

他表示：“尽管如此，对于住房需求更为迫切的买家，以及优先考虑特定地点、更大居住空间或既有邻里配套的买家，转售组屋预计仍具吸引力。”

SRI预计，2026年转售成交量总计约26,000至27,000个组屋，全年价格变动预计介于-1%至1%。