A record-breaking 143 HDB resale flats were sold for at least $1,000,000 in May 2025, according to the latest 99-SRX Media Flash Report. Despite a slight dip in overall resale volumes, prices continued to climb, increasing by 0.1% from April 2025. The report suggests that buyers with substantial budgets are opting for spacious HDB homes in prime locations due to high condo resale prices and limited inventory.
The report highlights that the momentum from April’s million-dollar flat sales likely carried over into May. The general election on 3 May may have prompted some buyers to finalise deals early, anticipating potential policy changes. Luqman Hakim, chief data & analytics officer at 99.co, noted that this urgency could have contributed to the elevated number of high-value transactions.
In terms of room types, prices for 4-room, 5-room, and Executive flats increased by 0.2%, 0.2%, and 2%, respectively, whilst 3-room prices saw a slight decrease of 0.1%. Year-on-year, prices for all room types rose, with Executive flats experiencing the highest increase at 10.2%.
The highest transacted price for a resale flat in May was S$1,568,380 for a 5-room flat at Pinnacle@Duxton. In Non-Mature Estates, the top price was $1,150,000 for an Executive flat at Hougang Central.
The report also detailed that 58.4% of resale volumes came from Non-Mature Estates, with the remaining 41.6% from Mature Estates. Notably, Toa Payoh recorded the highest number of million-dollar flat transactions, followed by Bukit Merah and Queenstown.
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