HDB resale prices in Singapore have increased for the 21st consecutive quarter, according to OrangeTee’s Q2 2025 report. This marks the longest period of continuous price growth in history, with prices rising by 0.9% in Q2 2025, albeit at a slower pace than previous quarters. The report highlights a record number of million-dollar transactions, reaching 415 units, a 19.3% increase from the previous quarter.
The number of resale flats sold for at least S$800,000 also rose for the second consecutive quarter, with 1,481 units sold in Q2 2025. This is up from 1,182 units in Q1 2025. The demand for premium flats remains strong, particularly in towns like Tampines and Toa Payoh.
Rental demand for HDB flats has also seen an uptick, with approved applications increasing by 4.2% to 10,066 units in Q2 2025. This trend is expected to continue, with rental prices projected to rise modestly by 1% to 2% for the entire year.
HDB is on track to launch nearly 30,000 new flats in 2025, with over 19,000 being build-to-order (BTO) flats. The July 2025 BTO exercise introduced 5,547 new flats across seven towns, contributing to the increased supply.
The report projects that HDB resale prices could rise by 4% to 5.5% in 2025, with an estimated 27,000 to 28,000 transactions expected by year-end. This sustained growth in the HDB market underscores the ongoing demand for public housing in Singapore.
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