Flash Estimate of Q2 2025 HDB Resale Price Index and Upcoming BTO, SBF Flat Launch in July

The Housing & Development Board (HDB) has released its flash estimate for the Resale Price Index (RPI) for the second quarter of 2025. The RPI stands at 202.8, reflecting a 0.9% increase from the first quarter of 2025. This marks the third consecutive quarter of slowed price growth, making it the lowest quarterly increase since Q2 2020.

Despite the continued growth, resale volume declined. As of 29 June 2025, a total of 6,981 resale transactions were recorded — 5.0% lower than the 7,352 cases in the same period last year.

The Singapore economy is expected to see moderated GDP growth in 2025. Combined with global trade tensions and early signs of weaker labor demand, HDB urges potential buyers to exercise financial prudence when purchasing flats or taking up housing loans, given the uncertain economic climate.

Upcoming HDB Flat Supply – July 2025 BTO and SBF Launches

In July 2025, HDB will release approximately 5,500 Build-To-Order (BTO) flats across several towns:

• Bukit Merah

• Bukit Panjang

• Clementi

• Sembawang

• Tampines

• Toa Payoh

• Woodlands

Alongside the BTO launch, a Sale of Balance Flats (SBF) exercise will offer about 3,000 flats, bringing the total SBF supply for 2025 to over 8,500 flats, when combined with the 5,590 SBF units launched in February 2025.

Detailed information on locations, flat types, and application procedures will be provided during the July 2025 launch.

Important Notice on HDB Flat Eligibility (HFE) Letter

To apply for flats during the July 2025 BTO and SBF sales exercises, applicants must possess a valid HDB Flat Eligibility (HFE) letter.

HDB previously announced that applicants should submit their HFE applications by 15 May 2025 to ensure timely processing. Applications submitted after this date may not be processed in time for the July sales.

From July 2025, the HFE application e-Service will be temporarily suspended during the sales exercise to allow smoother flat application processes. However, this will not affect those with an existing valid HFE letter or those who have submitted their application before July.

Conclusion

The 2nd Quarter 2025 reflects a cooling trend in HDB resale price growth, while housing supply remains strong with major launches across BTO and SBF exercises. With over 8,500 SBF flats offered in 2025 and 5,500 new BTO flats coming this July, Singaporeans continue to have diverse options to secure affordable housing.

Buyers are strongly advised to plan ahead, ensure eligibility, and maintain financial prudence amidst evolving economic uncertainties.