The Housing Development Board (HDB) resale market in Singapore is experiencing a downturn, with prices dipping by 0.3% in the second quarter of 2026, according to Realion (OrangeTee & ETC) Group’s analysis. This marks the second consecutive quarter of price declines, attributed to intense competition from the Build-To-Order (BTO) market, macroeconomic uncertainties, and a weaker hiring outlook.
Resale volumes showed a slight quarter-on-quarter increase of 1.8%, rising from 6,285 units in Q1 2026 to 6,396 units in Q2 2026. Despite this, the year-on-year figures reveal a 9.9% drop, reflecting a weaker market compared to the previous year. Christine Sun, Chief Researcher & Strategist at Realion, noted, “Volumes fell across most flat types, except for 1-room flats.”
The HDB rental market, however, saw a 4.9% increase in approved rental applications, reaching 10,002 units in Q2 2026. This rise is attributed to seasonal demand as tenants return from spring breaks or renew leases before the academic year begins for some international schools.
Looking ahead, the HDB resale market may continue to face challenges. The launch of nearly 8,000 new flats in October across various locations, including Bedok and Yishun, is expected to increase competition and exert downward pressure on resale prices. Overall, HDB resale prices are projected to trend between -1% and 2% for the entirety of 2026, as the market grapples with economic uncertainties and a shifting job landscape.
