Million-dollar HDB resale flats rise nearly 50% to over 1,500 in 2025

SINGAPORE: Million-dollar Housing and Development Board (HDB) resale flat deals rose nearly 50% in 2025, with 1,544 flats sold as of Dec 18, up from 1,035 last year, according to HDB transaction figures from data.gov.sg. The number is expected to reach 1,550 by year-end, says Huttons Asia’s senior director of analytics, Lee Sze Teck.

EdgeProp Singapore reported that the priciest HDB resale this year was a 1,313 sq ft five-room flat at SkyTerrace @ Dawson in Queenstown, which sold for S$1.659 million in June and had about 90 years remaining on its lease.

Other high-end transactions included a five-room flat and an executive maisonette in Bishan that sold for S$1.632 million and S$1.6 million, respectively, as well as a five-room flat at The Pinnacle @ Duxton and a five-room Design, Build and Sell Scheme (DBSS) flat in Toa Payoh, each fetching S$1.6 million.

Still, Mr Lee noted that the average price of a million-dollar flat in 2025 was only 1.8% higher than last year, at around S$1.14 million, indicating that most deals were at the lower end of the million-dollar range and suggesting “price resistance among buyers”.

ERA Singapore’s key executive officer, Eugene Lim, also noted that only 6.4% of the 20,694 resale flat applications submitted in the first ten months of 2025 crossed the million-dollar mark. /TISG

Read also: First 3-room flat in Sembawang sells above S$900 psf, beating average 5-room prices in the same month