HDB Resale Market

HDB’s Resale Price Index for 3rd Quarter 2025 is 203.7, an increase of 0.4% over that in 2nd Quarter 2025 (see Annexes A1 and A2). Price growth has moderated for the fourth consecutive quarter, and this is the lowest quarter-on-quarter growth since 2Q2020.

2 Resale transactions in 3rd Quarter 2025 rose by 1.7%, from 7,102 cases in 2nd Quarter 2025 to 7,221 cases (see Annex B). Compared to 3rd Quarter 2024, resale transactions in 3rd Quarter 2025 were 11.3% lower.

3 The median resale prices in the various towns in 3rd Quarter 2025 are tabulated in Annex C.

HDB Rental Market

4 The median rents in the various towns in 3rd Quarter 2025 are tabulated in Annex D.

5 The number of approved applications to rent out HDB flats rose by 0.6% from 10,066 cases in 2nd Quarter 2025 to 10,123 cases (see Annex E). Compared to 3rd Quarter 2024, the number of approved applications in 3rd Quarter 2025 was 11.0% higher. As at the end of 3rd Quarter 2025, 59,001 HDB flats were rented out, an increase of 0.5% over the 58,720 flats rented out in the previous quarter.

Upcoming Flat Supply

6 In the next Build-To-Order exercise to be held in February 2026, HDB will launch about 4,600 flats in Bukit Merah, Sembawang, Tampines, and Toa Payoh. In addition, we will conduct a concurrent Sale of Balance Flats exercise comprising about 3,000 units. Potential flat buyers interested in applying for a flat must have a valid HFE letter. We encourage prospective flat buyers to apply for an HFE letter early and submit all required documents by 15 December 2025, if they wish to participate in the February 2026 sales exercises.

7 Given the highly uncertain macroeconomic outlook, households should continue to exercise prudence when purchasing properties and taking on mortgage loans.

3rd Quarter 2025 Public Housing Data and Upcoming Flat Supply