HDB Resale Prices Inch Up 0.9% in Q2, Slowest Growth Since 2020

Prices of Housing Board resale flats in Singapore rose at a slower pace of 0.9 per cent in the second quarter of 2025 compared to the previous quarter, according to early estimates from HDB. This marks the third consecutive quarter of slowdown in price growth, with the resale price index easing from 1.6 per cent in the first three months of 2025, the lowest quarter-on-quarter growth since 2020.

Resale volumes also dropped, with 6,981 flats sold from April to June 29, down 5 per cent from the same period in 2024. This softening in demand and prices is attributed to broader economic uncertainties, including global trade tensions and cooling labor demand.

Property analysts suggest that the slower growth reflects macroeconomic challenges and the launch of new flats, impacting the resale market. Several analysts point to the impact of Build-To-Order (BTO) and Sale of Balance Flats (SBF) launches on resale demand.

Despite some executive flats defying the slowdown, the overall trend indicates a stabilizing market. Analysts expect price growth to remain moderate for the rest of the year, with PropNex forecasting a total resale volume of about 27,000 to 28,000 flats by the end of the year.

Given the ongoing price moderation, there are calls for the Government to consider removing the 15-month wait-out period for former private home owners looking to buy an HDB resale flat.

According to the source: The Straits Times.