# Resale flat prices fall for second straight quarter, down 0.3% in 2Q2026: HDB flash estimates - **Source:** EdgeProp Singapore - **Published:** 2026-07-01T02:26:05.000Z - **Author:** Atiqah Mokhtar - **Original:** https://www.edgeprop.sg/property-news/resale-flat-prices-fall-second-straight-quarter-down-03-2q2026-hdb-flash-estimates - **Topics:** HDB & Public Housing, Commercial & Industrial, Transactions & Deals ## Featured rationale Increasing BTO competition and flats reaching MOP may keep the broader resale market balanced, although rising million-dollar transactions show continued demand for selected premium flats. ## AI summary HDB resale prices declined 0.3% quarter-on-quarter in 2Q2026, their second consecutive quarterly fall, while transaction volume dropped 10.2% year-on-year to 6,268 units. ## Original article HDB resale prices fell in 2Q2026, marking a second consecutive quarter of decline. Flash estimates published by HDB on July 1 show that the Resale Price Index decreased 0.3% q-o-q in 2Q2026, widening from the 0.1% fall recorded in the previous quarter. “This is the first time in nearly seven years that HDB resale prices have softened across consecutive quarters,” says Eugene Lim, key executive office at ERA Singapore. Resale flat volume also declined, falling 10.2% y-o-y to 6,268 transactions in 2Q2026. “Intense competition arising from the Build-To-Order (BTO) market, prevailing macroeconomic uncertainties, and a weaker hiring outlook have affected the HDB resale market,” remarks Christine Sun, chief researcher and strategist at Realion (OrangTee & ETC) Group. Read also: HDB resale transactions slow y-o-y in first quarter of 2026; uptick in million-dollar flats For the first half of 2026, resale flat prices have fallen 0.4%, reversing from the 2.5% and 4.2% growths logged over the same period in 2025 and 2024, she adds. The lower prices suggests the resale market is “transitioning towards a more balanced and sustainable phase”, according to Mohan Sandrasegeran, head of research and data analytics at SRI. In addition to BTO launches, more flats are reaching their minimum occupation period (MOP), which is helping to boost supply and temper prices, he observes. Uptick in million-dollar flats Despite the broader slowdown in the HDB resale market, the number of million-dollar flat transactions continued to grow in 2Q2026, according to Lee Sze Teck, senior director of data and analytics at Huttons Asia. A total of 491 resale flats were sold for at least $1 million last quarter, 19.5% higher than the 411 million-dollar flats in 1Q2026. The flats also account for 7.8% of total resale flat transactions for 2Q2026 – the highest proportion thus far. “There were more million-dollar flat transactions in 2Q2026, pulled up by Bedok South Horizon and Hougang RiverCourt which fulfilled the eligibility conditions to sell,” says Lee. Read also: What’s moving the market: Singapore's biggest property deals and hottest searches (April 17) Despite the higher volume, prices of million-dollar flats fell marginally last quarter. The average price stood around $1.147 million, 0.3% lower than $1.151 million in 1Q2026. In addition, the proportion of million-dollar flat transactions in non-mature estates stood at 10.6% in 2Q2026, the highest since the 10.7% recorded in 1Q2023. “It could be early signs of buyers being priced out,” Lee adds. Resale market to stay flat Lee expects the HDB resale flat market to stay flat in 2H2026, as more BTO flats enter the market. In October, HDB will launch about 7,960 flats for sale in Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, which may divert some buyer interest from the resale market. At the same time, more flats will achieve their MOP , with Lee estimating 13,484 flats to hit that milestone this year. This may help support resale market activity and prices, as well as million-dollar flat transactions, he says. Huttons projects resale flat transactions to total between 22,000 and 26,000 in 2026, while resale price movement may be between -2% to 2%. Sun of Realion Group has a similar price projection. She estimates resale prices could trend between -1% and 2% for the whole of 2026, amid a softer job market and other macroeconomic uncertainties impacting the market. Read also: What's moving the market: Singapore's biggest property deals and hottest searches (April 10) “Flight to affordability may continue to impact the HDB resale market, as more buyers pivot away from pricey new flats in mature estates towards more affordable BTO or older resale flats,” she adds. On the other hand, ERA’s Lim believes Singapore’s steady domestic growth outlook will continue to support overall housing demand, despite broader external headwinds. He expects the HDB resale market to see around 26,000 to 27,000 transactions this year, with annual price growth ranging between 2% and 5%. ## Chinese translation > Translation model: grok ### 转售组屋价格连续第二季下跌，2026年第二季环比降0.3%：HDB快报估计 建屋发展局转售价格指数在2026年第二季环比下跌0.3%，跌幅较上季0.1%有所扩大。 2026年第二季HDB转售组屋价格下跌，连续第二季出现下滑。建屋发展局（HDB）于7月1日发布的快报估计显示，2026年第二季转售价格指数（Resale Price Index）环比下跌0.3%，跌幅较上季0.1%有所扩大。 ERA Singapore首席执行官林恩庆（Eugene Lim）表示：“这是近七年来HDB转售价格首次连续两个季度走软。” 转售组屋成交量同步下滑，2026年第二季成交6,268宗，同比下降10.2%。 Realion（OrangTee & ETC）集团首席研究员兼策略师孙燕清（Christine Sun）指出：“预购组屋（BTO）市场竞争激烈、宏观经济存在不确定性，以及招聘前景偏弱，均对HDB转售市场造成影响。” 延伸阅读：2026年第一季HDB转售成交同比放缓；百万组屋成交有所回升 她补充说，2026年上半年转售组屋价格累计下跌0.4%，扭转了2025年及2024年同期分别上涨2.5%与4.2%的走势。 SRI研究与数据分析主管Mohan Sandrasegeran认为，价格回落表明转售市场“正转向更均衡、更可持续的阶段”。 他观察到，除了BTO推盘外，更多组屋达到最低居住年限（MOP），有助于增加供应并抑制价格。 百万组屋成交回升 尽管HDB转售市场整体放缓，Huttons Asia数据与分析高级董事李斯德（Lee Sze Teck）称，2026年第二季百万新元组屋成交量仍继续增长。 上季共有491套转售组屋以至少100万新元成交，较2026年第一季的411套高出19.5%。这些单位亦占2026年第二季转售成交总量的7.8%——为迄今最高占比。 李斯德表示：“2026年第二季百万组屋成交增加，主要受Bedok South Horizon与Hougang RiverCourt达到可出售资格条件带动。” 延伸阅读：市场动向：新加坡最大宗房地产交易与最热搜索（4月17日） 尽管成交量上升，百万组屋价格上季略有回落。平均价格约114.7万新元，较2026年第一季的115.1万新元低0.3%。 此外，非成熟市镇百万组屋成交占比在2026年第二季达10.6%，为2023年第一季录得10.7%以来最高。李斯德补充说：“这或许是买家被价格挤出的早期信号。” 转售市场料维持平稳 李斯德预期，随着更多BTO组屋入市，2026年下半年HDB转售市场将维持平稳。10月，HDB将在勿洛（Bedok）、芽笼（Geylang）、三巴旺（Sembawang）、登加（Tengah）、大巴窑（Toa Payoh）与义顺（Yishun）推出约7,960套组屋，可能分流部分转售市场需求。 与此同时，更多组屋将达到最低居住年限（MOP），李斯德估计今年约有13,484套组屋达标。他认为这有助于支撑转售市场活跃度与价格，以及百万组屋成交。 Huttons预计2026年转售组屋成交总量介于2.2万至2.6万宗，价格变动可能在-2%至2%之间。 Realion集团的孙燕清价格预估相近。她估计在就业市场偏软及其他宏观经济不确定性影响下，2026年全年转售价格可能介于-1%至2%。 延伸阅读：市场动向：新加坡最大宗房地产交易与最热搜索（4月10日） 她补充说：“追求可负担性的趋势或将继续影响HDB转售市场，更多买家从成熟市镇高价新组屋转向更实惠的BTO或较旧转售组屋。” 另一方面，ERA的林恩庆认为，尽管外部逆风仍存，新加坡稳健的内需增长前景将继续支撑整体住房需求。他预计今年HDB转售市场成交约2.6万至2.7万宗，全年价格涨幅介于2%至5%。