Overall Prices
In Q3 2026, resale prices dipped for a third consecutive quarter, despite an improvement in market sentiment and an increase in housing enquiries following recent policy changes. The stronger interest has yet to translate fully into completed transactions. Since 28 July 2026, private property owners looking to purchase a non-subsidised resale flat no longer had to wait 15 months after selling their private property. Following the policy adjustment, there was a noticeable increase in buying interest and sales enquiries from private homeowners for HDB resale flats looking to right-size.  

According to flash estimates released by HDB, prices slipped by 0.2 per cent quarter-on-quarter (QoQ) and 0.6 per cent year-on-year (YoY) in Q3 2026. On a year-to-date basis, prices fell 0.6 per cent in the first three quarters of this year, a reversal from the  2.9 per cent price increase over the same period in Q1 to Q3 2025.

Prices By Flat Types
By flat type, average prices rose the most for multi-generation flats (9.9 per cent), followed by 1-room flats (6.7 per cent), executive flats (0.5 per cent) and 5-room flats (0.1 per cent), according to the caveat data from data.gov.sg downloaded on 1 Oct 2026 8.15 am. Average prices of 4-room flats dipped the most by 0.9 per cent, followed by 2-room flats by 0.4 per cent and 3-room flats by 0.3 per cent.
 
Sales Volume
According to HDB's resale flash estimate data, resale volume rose 5.2 per cent year-on-year (YoY) from 7,157 units in Q3 2025 to 7,528 units in Q3 2026. The increase in transactions aligns with expectations as Q3 typically registers the highest quarterly transaction volume.

Outlook
Although Q3 witnessed a marginal drop in prices, there could be a slight price rebound for certain regions or flat models in the upcoming months. Many private homeowners will be cash-rich after selling their homes and they are likely to buy large resale flats for the space and value. Therefore, we expect demand and prices of larger flats to be boosted, while the number of million-dollar resale flat transactions to grow further.

However, the expected increase in premium flat transactions is unlikely to cause a spike in overall resale prices. Million-dollar transactions still account for a small market share and any price surge will likely be contained within this market segment. Moreover, ample housing supply will continue to keep prices stable in the long term. The number of MOP flats are forecasted to rise from 6,973 units in 2025, to 13,484 units in 2026 and 18,939 units in 2027. The number of SBF and BTO flat launches are projected to hold steady next year.

The resale market may face headwinds from the increase in income ceiling. From August 2026, the income ceiling has been revised to S$16,000 for couples and families and S$8,000 for singles. The higher income ceiling would allow some to buy larger or pricier BTO flats, thus diverting more buyers away from larger, higher-priced flats in the resale market. Previously, many of these buyers could have been limited by the current income ceiling, which restricted their eligibility to buy directly from the BTO market.