Singapore’s HDB resale flat prices continued to increase in Q2 2025, rising by 0.9% quarter-on-quarter (QoQ), but the pace of growth has slowed according to flash estimates released by the Housing and Development Board (HDB).

Price Growth Continues to Ease

Based on HDB’s flash estimates, resale prices increased by 0.9% QoQ in Q2 2025, down from a 1.6% rise in Q1 2025. Analysts from PropNex noted that this marks the third consecutive quarter of slower price growth, and the smallest quarterly increase in 20 quarters, since Q2 2020 when prices rose by just 0.3%.

Slower Price Growth in H1 2025

Cumulatively, the HDB Resale Price Index (RPI) rose by 2.5% in the first half of 2025 (1H 2025), a notable slowdown from the 4.2% increase recorded in 1H 2024. This suggests a cooling in the market despite ongoing demand.

Resale Volume: Up QoQ, Down YoY

According to HDB, 6,981 HDB flats were resold in Q2 2025 (as of 29 June), reflecting an almost 6% increase from the 6,590 units sold in Q1 2025. However, on a year-on-year (YoY) basis, resale volume fell by 5% from 7,352 units in Q2 2024.

Summary

While the HDB resale market remains active, slower price growth may signal a stabilizing housing landscape. For prospective buyers and investors, this could be a good opportunity to enter the market at a more balanced time.