HDB resale prices up 0.9% in Q2 as price growth moderates

Prices of Housing Board resale flats inched up 0.9 per cent in the second quarter of 2025, a slower pace than the 1.6 per cent increase recorded in the previous quarter.

- Isabelle Liew

This marked the third consecutive quarter of a moderation in price growth, and is the lowest quarter-on-quarter growth since the second quarter of 2020, HDB said on July 25.

HDB resale prices have been rising continuously on a quarterly basis since the second quarter of 2020 after the Covid-19 pandemic slowed the construction of Build-To-Order (BTO) flats and crimped the supply of public housing.

Data released by HDB on July 25 also showed that more resale flats were sold in the second quarter of 2025, rising by 7.8 per cent to 7,102 units, from 6,590 units in the first quarter.

Ms Christine Sun, chief researcher and strategist at Realion Group, said the slower pace of price growth could be attributed to the steady supply of HDB flats that were launched for sale in February and July. Over the two sales exercises, more than 20,000 BTO flats and balance flats were put up for sale.

"Many new flats were located in choice locations and some had shorter completion times," she added.

ERA Singapore key executive officer Eugene Lim said fewer flats will fulfil their minimum occupation period (MOP) in 2025, leading to upwards pressure on resale prices due to the limited supply.