haioHDB resale prices have now fallen for three quarters in a row. Deals picked up anyway: 7,645 resale flats changed hands in 3Q2026, up 19.5% on the quarter. More deals and softer prices point to a market where buyers hold more of the leverage, not one heading for another run-up.
HDB Resale Median Price by Town
The index dipped again while deal volume jumped 19.5%
HDB's Resale Price Index (RPI) came in at 202.5 for 3Q2026, down 0.1% from 2Q2026. That follows dips of 0.1% in 1Q2026 and 0.3% in 2Q2026. The moves are small, but all three point the same way.
Select a column heading to sort.
| Resale transactions | 6,396 | 7,645 | Up 19.5% |
| Approved applications to rent out a flat | 10,002 | 9,381 | Down 6.2% |
| HDB flats rented out (end of quarter) | 58,855 | 59,378 | Up 0.9% |
Year on year, resale deals were 5.9% higher than the 7,221 in 3Q2025. Approved rental applications were 7.3% lower than the 10,123 a year earlier.
Two more items from the release:
- The 15-month wait-out for private property owners (and ex-owners) buying a non-subsidised resale flat was scrapped on 28 Jul 2026. HDB says it has not seen a notable rise in the number of flats these buyers bought, or the prices they paid.
- The November 2026 BTO exercise will offer about 7,960 flats in Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, plus Community Care Apartments in Toa Payoh.
What it means for you
If you're buying resale: this setup is likely to work in your favour. You have more flats changing hands and an index that has stopped climbing. Prices haven't fallen far, so don't expect a bargain. Our read is that you may face less pressure to overpay just to win a flat.
If you're selling: volume is there, so a well-priced flat should move. The index says the easy gains are paused. Price against what your town has actually transacted at, not what a neighbour got two years ago.
If you're a private owner thinking of downgrading: the wait-out is gone, and HDB's data suggests the crowd hasn't rushed in. You may not be bidding against a wave of fellow downgraders, at least not yet.
If you're weighing BTO against resale: 7,960 flats across six towns is a sizeable November exercise. Mature-town options like Toa Payoh and Bedok sit alongside Tengah, Sembawang and Yishun. A buyer who can wait for a BTO has a real alternative, which may keep a lid on resale asking prices in those towns.
If you're a landlord: fewer new approvals to rent out, while the total stock of rented flats crept up. That reads as a rental market growing slowly rather than a surge of new supply. Rents by town are in HDB's Annex D.
Supply is the reason prices could stay flat
HDB said why it dropped the wait-out: several quarters of price moderation, and more flats expected to hit the resale market as they clear their Minimum Occupation Period over the next few years. That's the government telling you resale supply is set to grow. Supply growing alongside demand is likely to keep prices flat for a while, not send them back up.
Where you buy still matters more than the headline index. A 0.1% national move hides wide gaps between towns, and a flat-type breakdown shows smaller flats carry a higher price per square foot.
HDB Resale Median PSF by Flat Type
HDB also repeated its caution on interest rates and told households to be prudent with mortgages. Take that one seriously. A flat price that has stopped rising gives you no cushion if your loan rate goes up.
haio's take
This is a buyer's quarter. Deals are up nearly a fifth, prices are drifting, and HDB has flagged more resale supply on the way. If you've been holding off because you feared overpaying, the data says the urgency has gone out of the market. Shop around, negotiate, and compare towns before you commit.
To see how your target town has actually moved, check the HDB town price index on haio.
Source: HDB, 3rd Quarter 2026 Public Housing Data and Upcoming Flat Supply, 23 Oct 2026. Charts: haio market data.