Upcoming HDB Flat Supply & Public Housing Market Trends for Q1 2025

Singapore’s Housing & Development Board (HDB) has shared exciting updates on the upcoming supply of Build-To-Order (BTO) flats and released comprehensive data on the public housing market for the first quarter of 2025. If you’re planning to apply for a new flat or enter the resale or rental market, this article covers everything you need to know.

Upcoming BTO and SBF Flat Launch in July 2025

In July 2025, HDB will launch approximately 5,400 new BTO flats across Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh, and Woodlands.

Additionally, a Sale of Balance Flats (SBF) exercise will be conducted concurrently, offering around 3,000 units, bringing the total SBF supply in 2025 to approximately 8,500 flats, the largest since 2017.

Important: Apply Early for Your HFE Letter

Flat buyers must possess a valid HDB Flat Eligibility (HFE) letter when applying during the sales exercise. Given the surge in HFE applications close to launch dates, applicants are encouraged to submit all documents by May 15, 2025.

Long-Term Public Housing Supply Outlook (2025–2027)

• More than 50,000 BTO flats will be launched between 2025 and 2027.

• Approximately 19,600 BTO flats will be made available in 2025 alone.

• By 2027, about 130,000 flats will have been launched since 2021—an 11% increase in housing stock.

• The number of resale flats is also expected to grow as more units reach their Minimum Occupation Period (MOP):

  • ~8,000 flats in 2025

  • ~13,500 in 2026

  • ~19,500 in 2028

HDB Resale Market Trends (Q1 2025)

• Resale Price Index (RPI) rose to 201.0, a 1.6% increase from Q4 2024.

  • This growth is lower than Q4 2024’s 2.6% and below the 2024 quarterly average of 2.3%.

• Resale transactions increased by 2.6% from 6,424 to 6,590.

• However, compared to Q1 2024, transactions dropped by 6.8%.

Median resale prices by town are available in Annex C.

Economic Outlook & Home Buying Advice

• Singapore’s GDP growth in 2025 is projected to slow to 0.0–2.0%, compared to 4.4% in 2024.

• Domestic interest rates, though lower than end-2023 peaks, remain elevated compared to past decades.

• Households are advised to exercise financial prudence due to:

  • Economic uncertainty

  • Property market cyclicality

  • Risk of buying at market highs

The Government will closely monitor the property market and adjust policies to ensure stability and sustainability.

HDB Rental Market Overview (Q1 2025)

• The median HDB rental rates for various towns are presented in Annex D.

• Rental applications rose by 12.3%, from 8,603 (Q4 2024) to 9,662 (Q1 2025).

• Compared to Q1 2024, this is a 2.8% increase.

• As of the end of Q1 2025, 59,567 flats were rented out—up 0.9% from the previous quarter.

Frequently Asked Questions (FAQs)

When is the next HDB BTO launch?

The next BTO launch is scheduled for July 2025, with about 5,400 flats across seven towns.

What is the SBF exercise?

The Sale of Balance Flats (SBF) offers unsold flats from previous launches and returns. It provides a quicker option for flat buyers.

What is the HFE letter and how do I apply?

The HDB Flat Eligibility (HFE) letter determines your eligibility to buy a flat. 

Is it a good time to buy resale HDB flats?

While prices are still rising, growth has slowed. Buyers should evaluate their financial capacity and long-term goals carefully.

Will more BTO flats be launched in the future?

Yes. HDB plans to launch over 50,000 BTO flats between 2025 and 2027.

Conclusion

The upcoming July 2025 BTO and SBF launches reflect Singapore’s continued commitment to housing stability. With cautious optimism in the resale and rental markets, HDB remains proactive in managing supply, demand, and affordability amid broader economic challenges.

Whether you’re a first-time buyer or looking to enter the resale or rental market, staying informed and planning ahead are key. Apply early for your HFE letter and explore your housing options wisely to secure a stable home for your future.