Singapore HDB resale prices dip 0.3% in Q2
Active transactions alongside a second quarterly price decline signal a more balanced market, although newly eligible MOP flats may keep resale volumes healthy.
Singapore’s HDB Resale Price Index fell 0.3% quarter-on-quarter in Q2 2026, while transactions increased 1.8% to 6,396 units.
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This is the second straight quarter of price easing.
Singapore's HDB resale market continued to transition towards price stability in the second quarter of 2026, with resale prices falling for a second consecutive quarter even as transaction volumes increased, according to PropNex's analysis of Housing and Development Board (HDB) data.
The HDB Resale Price Index slipped 0.3% quarter-on-quarter in Q2, following a 0.1% decline in the first quarter. PropNex noted that resale prices were down a cumulative 0.4% in the first half of 2026, compared with 0.3% growth in the second half of 2025.
HDB resale transactions rose 1.8% quarter-on-quarter to 6,396 units, suggesting buyers remained active despite softer prices. PropNex Head of Research and Content Wong Siew Ying said the combination of stable demand and easing prices reflects a gradual shift from strong price appreciation towards a more balanced market.
According to PropNex, recently completed minimum occupation period (MOP) flats helped support activity. Flats with at least 94 years of remaining lease accounted for 5.9% of resale transactions in Q2, up from 4.5% in the previous quarter, with Tampines, Bukit Batok and Punggol contributing around 58% of such sales.
The consultancy also highlighted a new quarterly record of 491 HDB resale flats changing hands for at least $1 million, surpassing the previous high of 480 units recorded in Q3 2025. As of 23 July, 1,050 million-dollar resale flats had been sold in 2026, putting the market on track to match or exceed last year's record.
Looking ahead, PropNex expects HDB resale activity to remain healthy as more flats reach their five-year MOP. The consultancy forecasts 26,000 to 27,000 resale transactions in 2026, while projecting resale prices to remain broadly stable and potentially rise by up to 1% over the full year.