The Housing Development Board (HDB) resale market in Singapore experienced a bifurcation in Q2 2026, with the million-dollar flat segment thriving despite a general slowdown. According to Huttons Data Analytics, 6,268 HDB resale flats were sold in Q2 2026, mirroring Q1 2026 figures but marking an 11.7% decline from the previous year.
The market’s sluggishness is attributed to longer selling times, averaging two to three months, and a cautious approach from buyers due to employment uncertainties. The average price of resale flats softened by 0.3% in Q2 2026, reflecting buyers’ negotiating power.
Despite the overall slowdown, the million-dollar flat segment remained robust. In Q2 2026, 491 flats were sold for a million dollars or more, a 19.5% increase from the previous quarter. These high-value transactions accounted for 7.8% of total resale transactions, the first time surpassing 7%. The average price for these flats was $1,147,216, slightly down by 0.3% from the previous quarter.
Toa Payoh led with the highest number of million-dollar flats at 66, followed by Queenstown and Bukit Merah with 65 and 64, respectively. The increase in non-mature estate transactions suggests potential pricing out of buyers.
Looking ahead, the HDB resale market is expected to remain flat in the second half of 2026. With more Build-To-Order (BTO) flats and resale flats reaching their minimum occupation period, buyers have more options. HDB plans to launch 7,970 flats across seven projects in October 2026, potentially stabilising the market. Huttons estimates between 1,600 and 1,800 million-dollar flats in 2026, with resale transactions ranging from 22,000 to 26,000 and price changes between -2% and 2%.
