SINGAPORE – Prices of Housing Board resale flats edged up 2.9 per cent in 2025, rising at a slower pace than the 9.7 per cent increase recorded the year before.
This was the slowest resale price growth since 2019, HDB said on Jan 23.
In the last three months of 2025, resale prices remained unchanged for the first time since the first quarter of 2020.
HDB resale prices have been rising continuously on a quarterly basis since the second quarter of 2020, after the Covid-19 pandemic slowed the construction of Build-To-Order (BTO) flats and crimped public housing supply.
The data for the fourth quarter of 2025 followed four consecutive quarters of slower price growth for resale flats, HDB noted.
In the second, third and fourth quarters of 2025, price growth was under 1 per cent.
Data released by the public housing authority on Jan 3 also showed that fewer resale flats were sold in the last quarter of 2025, falling by 27.2 per cent to 5,256 units, from 7,221 units in the third quarter.
In all, 26,169 resale flats changed hands in 2025 – 9.7 per cent lower than the 28,986 flats in 2024.
The last time annual resale volume declined was in 2023, when it dipped by 4.2 per cent compared with 2022, HDB said. This was less than half the current rate of decline, it noted.
HDB said the Government will continue to monitor the property market closely and adjust its policies as necessary to promote a stable and sustainable property market.
It advised households to exercise prudence when buying properties and taking on mortgage loans, citing an uncertain macroeconomic outlook.
HDB
will launch about 19,600 BTO flats across three sales exercises in 2026,
including more than 4,000 flats with shorter waiting times of less than three years.
“HDB is prepared to offer more than 55,000 flats from 2025 to 2027 to meet housing demand, if necessary,” it said.
The Ministry of National Development had earlier committed to launching 55,000 new flats between 2025 and 2027.
In February, HDB will launch about 4,600 BTO flats in Bukit Merah, Sembawang, Tampines and Toa Payoh.
About 3,000 units will also be offered under a concurrent Sale of Balance Flats exercise. Such exercises allow applicants to apply for balance flats, in varying stages of completion, from earlier BTO exercises.