The Housing Development Board (HDB) resale market experienced a notable uptick in activity during the second quarter (Q2) of 2025, according to Huttons’ latest flash estimates. The resale volume increased by 5.9% quarter-on-quarter, reaching approximately 7,000 units, although it was 5.0% lower compared to the same period last year due to a limited supply of resale flats.
Larger flat types, such as 5-room and executive/multi-generation units, saw a significant rise in transactions, driven by ex-private property owners and current HDB owners seeking larger homes. The executive/multi-generation flats, in particular, experienced a 9.9% increase in transaction volume.
Resale flat prices rose by 0.9% in Q2 2025, marking the first time since Q2 2020 that prices increased by less than 1.0%. Executive/multi-generation flats led the price surge with a 4.1% increase, reflecting heightened demand.
The market for million-dollar flats also expanded, with 408 units sold at or above this price point, a 17.2% increase from the previous quarter. These high-value transactions accounted for over 6% of the total market volume, with the majority located in mature estates like Toa Payoh, Bukit Merah, and Queenstown.
Looking ahead, the HDB resale market is expected to remain tight throughout 2025. The upcoming launch of over 8,000 flats in the July 2025 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises may alleviate some supply pressure. However, resale flat prices are anticipated to continue rising, with an estimated growth of 4% to 6% for the year.
“`
