HDB Resale Market

HDB’s flash estimate of the 3rd Quarter 2025 Resale Price Index (RPI) is 203.7, an increase of 0.4% over that in the 2nd Quarter 2025 (see Annexes A1 and A2). This marks the fourth consecutive quarter of slowing resale price growth and the lowest quarter-on-quarter increase since 2Q2020.

2 The resale volume in 3rd Quarter 2025 (up to 29 September) is 7,157, 10.9% lower than that in the same period last year (8,035 cases).

3 Singapore’s GDP growth is expected to moderate in 2H2025. Against this backdrop of slowing economic growth, there are also early signs of moderating labour demand. Given the highly uncertain macroeconomic outlook, households should continue to exercise prudence when purchasing properties and taking on mortgage loans.

Upcoming Flat Supply

4 In October 2025, HDB will launch the final sales exercise for the year, offering more than 9,000 Build-To-Order (BTO) flats in Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun. This includes HDB’s fifth Community Care Apartment (CCA) project in Sengkang. More details on the projects will be shared during the upcoming launch.

5 Flat buyers interested in applying for a flat must have a valid HDB Flat Eligibility (HFE) letter when they submit their flat application. Flat applicants who wish to participate in the October 2025 sales exercise should have submitted all required documents and applied for an HFE letter by 15 September 2025, as per our earlier announcement.

6 To prioritise resources to support the sales exercise and to provide a smoother experience for flat applicants, the HFE letter application e-service will be temporarily unavailable during the October 2025 sales exercise. Flat buyers with a valid HFE letter, and those who have already submitted an HFE letter application before the sales exercise, will not be affected. More information on the HFE letter is available on the HDB InfoWEB.

Flash Estimate Of 3rd Quarter 2025 Resale Price Index and Upcoming Flat Supply