HDB resale prices in Singapore experienced a slight decline of 0.6% in December 2025, according to the latest 99-SRX Media Flash Report. Despite this dip, transaction volumes rose by 21.9% from the previous month, indicating a dynamic shift in the market. This trend is attributed to a potential alignment between buyer and seller expectations, as more than 13,000 flats are expected to reach their Minimum Occupation Period (MOP) in 2026.
The report highlights that the price decrease was observed across different room types, with 3-room, 4-room, 5-room, and Executive flats seeing reductions of 0.3%, 0.9%, 1.1%, and 0.6%, respectively. However, on a year-on-year basis, prices have increased by 2.3% compared to December 2024, with Executive flats showing the highest rise at 5.7%.
Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the current market conditions present a timely opportunity for buyers. “December’s price moderation likely presented a timely opportunity to enter the market,” he said, as buyers acted to secure properties before potential competition increases next year.
In December, 2,040 HDB resale flats were transacted, with 55% of these coming from Non-Mature Estates. Notably, 145 flats were sold for at least S$1m, marking an increase from November’s 120 units. The highest transaction was a 5-room flat at The Peak @ Toa Payoh, sold for S$1.525m.
As the market transitions, the interplay of supply and demand is expected to stabilise, potentially leading to a more balanced and sustainable environment in 2026.
