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Divergence in HDB Resale Market: Slowing Volume vs. Million-Dollar Sales

Published July 28, 2026 at 8:02 AM UTC

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In recent months, the HDB resale market has shown a clear split. Overall transaction volume has softened, while the number of million-dollar resale flats has risen to new highs. This divergence has sparked debate about market health and home affordability. Analysts point to tighter loan conditions and economic caution dampening demand for typical flats, while well-located executive apartments in prime estates continue to attract buyers willing to pay top dollar. The trend creates winners among homeowners in sought-after areas like Bishan and Toa Payoh, but leaves first-time buyers and lower-income families struggling to keep up. The government has responded by planning more Build-To-Order flats to relieve supply pressure, yet the gap underscores a growing challenge: how to keep the resale market accessible for all while allowing natural appreciation. Observers will watch for any policy tweaks in the coming months to address this imbalance.