June 2025 HDB Market Update: Are Prices Peaking or Just Slowing Down?

🏠 June 2025 HDB Market Update: Are Prices Peaking or Just Slowing Down?

Singapore’s HDB resale market has been a strong performer in recent years — but in mid-2025, things may be starting to shift. Prices are still going up, but not as fast as before, and buyers are becoming more selective.

Here’s a breakdown of the latest trends as of June 2025, and what they could mean for you.

🔼 HDB Resale Prices Still Growing — But Slower

In May 2025, the average resale flat price rose 0.8% month-on-month, hitting an estimated $658,000. That’s a 9.6% increase compared to the same period in 2024.

This is still a healthy growth rate, but slower than the 2022–2023 peak years where double-digit annual increases were common.

📉 Slight Drop in Sales Volume

• 2,281 HDB resale transactions were recorded in May 2025

• Down slightly from April’s 2,302 deals (0.9% dip)

This small drop suggests that buyers are becoming more cautious, possibly holding out for upcoming BTO launches or trying to negotiate better deals.

💰 Record-Breaking Million-Dollar Flat Sales

A record 143 flats crossed the $1 million mark in May 2025, the highest monthly total on record. These made up 6.3% of all transactions.

Most were located in:

• Queenstown

• Bukit Merah

• Bishan

• Toa Payoh

• Kallang/Whampoa

Large units like executive and 5-room flats in central estates continue to draw premium prices from upgraders and cash-rich buyers.

🔮 Outlook for the Rest of 2025

• Analysts expect 5%–8% HDB price growth for the full year

• More BTO supply (especially Plus and Prime flats) may ease pressure on resale demand

• Price growth is expected to moderate further into late 2025

🧭 What Should Buyers & Sellers Do Now?

For Buyers:
✅ Look for well-located units with room to negotiate
✅ Don’t expect prices to crash — supply remains tight
✅ Be prepared for stiffer competition in central estates

For Sellers:
✅ If you own a large unit in a mature estate, this may be a good time to exit
✅ Million-dollar buyers are still in the market — but momentum could taper later this year

📌 Conclusion: A More Balanced HDB Market Ahead

While prices are still climbing, Singapore’s HDB resale market in mid-2025 is moving into a more stable phase. The frenzy has cooled slightly, and both buyers and sellers now need to be more strategic.

Whether you're planning to upgrade, right-size, or enter the market for the first time, understanding these trends is key to making the right move.

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