Resale Housing Board flat prices saw the slowest quarterly increase in nearly five years in the third quarter of 2025, as the market continues to cool.
Prices inched up by 0.4 per cent from July to September, down from the 0.9 per cent in the second quarter and 1.6 per cent in the first quarter, based on the HDB resale price index.
This marks the fourth straight quarter of moderated growth, with the latest quarterly uptick the lowest since the second quarter of 2020. Resale activity was up 1.7 per cent with 7,221 transactions from July to September, compared to the 7,102 transactions in the previous quarter. However when compared with the same period in 2024, resale volumes were 11.3 per cent lower.
Property analysts noted the moderation in price growth came amid stronger sales volumes as demand continued to be resilient. The slower pace of increase could be due to some buyers turning to the roughly 30,000 BTO and SBF flats launched in 2025. Some of these flats were located in attractive locations, already completed or had shorter waiting times.
The HDB market has now recorded 22 consecutive quarters of growth since the second quarter of 2020 - the longest uninterrupted trend to date. Prices have surged by 54.9 per cent since early 2020, widening the gap between seller expectations and buyer affordability.
In the first nine months of 2025 alone, 1,235 million-dollar flats have been sold - already surpassing the 1,035 transactions recorded for the whole of 2024.
Source: The Business Times