HDB resale prices fell for a third consecutive quarter: the Resale Price Index stood at 202.4 in the third quarter of 2026 on a flash estimate basis, down 0.2 per cent from 202.8, after declines of 0.1 and 0.3 per cent. It is a national average, calculated from resale transactions registered across towns, flat types and models, with the first quarter of 2009 as the base period at 100. [1]
That number cannot tell you whether to apply for a new flat or buy resale. HDB publishes two tables that can. A BTO annex prints indicative new-flat prices beside the transacted prices of resale comparables nearby; a quarterly table gives median resale prices by town and flat type, the median being the 50th percentile, so half the flats registered in that quarter sold above it and half below. Read together, they size the gap in the flat type and town you actually want. [2] [3]
Cheaper, and busier, at the same time
Over the year, that third-quarter fall leaves an estimated 0.6 per cent decline across the first nine months of 2026, which Mohan Sandrasegeran, head of research and data analytics at SRI, called the weakest first nine months since 2018. He attributed the moderation to flats reaching their minimum occupation period as the year progresses, alongside more resale inventory and the ramp-up in new BTO and Sale of Balance Flats supply. [4]
Turnover moved the other way. As of 29 September, 7,528 resale transactions were recorded in the quarter, 5.2 per cent more than the 7,157 registered a year earlier, and HDB described volume as broadly stable. Huttons Asia's senior director of data analytics Lee Sze Teck expects keen interest in the 13,484 flats that will fulfil their five-year minimum occupation period in 2026, with some centrally located or five-room flats that he expects may sell for at least a million dollars. [4]
Sizing the gap from HDB's own tables
Start with Sembawang, one of the towns CNA reported for November. HDB's June 2026 BTO annex prices Sembawang Portico's 5-room flats at $465,000 to $579,000, while resale 5-room comparables nearby transacted at $685,000 to $820,000. Sembawang Brook, in the same exercise, prices its 5-room flats at $420,000 to $571,000 against those same comparables: HDB prints one pool of nearby resale transactions beside both projects, so what differs between them is the new-flat price. The indicative prices exclude grants, the resale levy and any additional payments. [3]
Now the second table. HDB's second-quarter 2026 median for a Sembawang 5-room flat was $644,400 — above the top of the Portico range, below the floor of the comparables. The same towns read $595,000 for Sembawang 4-room, $804,000 for Bedok 5-room and $1,019,000 for Toa Payoh 4-room; Toa Payoh's 5-room median is withheld because fewer than 20 transactions registered that quarter. Two limits: the comparables had about 93 years of lease left against 99 for the new flats, and HDB notes that differences in attributes should be taken into account. [3] [2]
Four checkpoints, in the order you meet them
Before you apply: HDB's June 2026 annex requires a valid Flat Eligibility letter before an application is submitted, allows one application per household and charges a $10 administrative fee. Then the ballot: applicants are shortlisted by computer, not on a first-come, first-served basis, and HDB shortlists beyond 100 per cent and potentially up to 200 per cent of total supply, with at least 90 per cent of public supply for 4-room and bigger flats set aside for first-timer families. [5]
If you get a queue position and do not book, a first-timer family's next application moves to the second-timer category for a year, and other applicants cannot apply for a year; HDB waives the count where ten or fewer BTO flats were on offer. Booking costs $500 for a 2-room Flexi, $1,000 for a 3-room and $2,000 for a 4-room, 5-room or 3Gen flat, counting towards a downpayment of 10 per cent on an HDB loan or 20 per cent on a bank loan, due when signing the Agreement for Lease within nine months. The loan-to-value ceiling on HDB loans is 75 per cent, and after key collection you have up to six months to sell your existing flat, with a contra facility available once that sale is underway. [5]
The resale conditions, and what November adds
Resale is not a mirror image. HDB sets in writing what a flat must meet before it can be sold: the minimum occupation period, the time you must physically reside in it; the ethnic integration policy quota for the block and neighbourhood, and the Singapore Permanent Resident quota where one applies; and additional requirements in cases of bankruptcy or divorce. HDB's published selling guidance covers eligibility, not a timetable from viewing a flat to completing a purchase. [6]
CNA reported about 7,960 flats launching in November across Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, and also reported Huttons Asia's Lee Sze Teck saying more buyers may apply now that the BTO income ceiling has risen from S$14,000 to S$16,000 a month — his account, not an HDB release, so check HDB's annex when it appears. Decide the gap for your flat type and town, and whether you can clear the four checkpoints in order. Both HDB and URA caution that the outlook remains highly uncertain and advise prudence; URA's full private residential price index statistics are due on 23 October, while HDB gives no date for revising its own flash estimate. [4] [7]
Read next
- House Moving Tips for a Smoother Transition
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Sources
- Resale Price Index from 1st Quarter 1990 to 2nd Quarter 2026
- Median Resale Prices by Town and Flat Type, for Resale Cases Registered from 2nd Quarter 2007 to 2nd Quarter 2026
- ANNEX A
- HDB resale prices fall for third consecutive quarter: Flash estimate – CNA
- ANNEX B ADMINISTRATIVE DETAILS FOR JUNE 2026 BUILD-TO-ORDER (BTO) EXERCISE
- Eligibility for Selling a Flat
- Release of flash estimate for 3rd Quarter 2026 private residential property price index | Urban Redevelopment Authority (URA)
BUTLER Magazine Editorial · AI-assisted research and writing, reviewed by our automated editorial team. Sources checked 2026-10-05. Featured image: AI-generated editorial illustration.