Published 26 October 2026
HDB's resale price index fell 0.1% in Q3 2026, a third straight decline
By Realila · HDB release of 23 Oct 2026 · HDB resale records to Sep 2026
HDB's resale price index fell 0.1% in the third quarter of 2026, from July to September, to 202.5, in HDB's release of 23 October 2026. The index has now fallen in three quarters in a row: by 0.1% in the first quarter of 2026, by 0.3% in the second quarter and by 0.1% in the third quarter. Flat owners resold 7,645 flats in the third quarter, 19.5% more than the 6,396 in the second quarter.
What is in this note
- What HDB reported: HDB's resale price index and its change in each quarter of 2026
- How many flats were resold: resale flats sold in the quarter, against the quarter before and a year earlier
- What resale flats cost, by flat type: Realila's median resale price for each flat type, against the second quarter
- Price per square foot, by region: Realila's median resale price per square foot in each of URA's five planning regions
- What HDB said about private property owners: HDB's statement on the wait-out it removed in July 2026
What HDB reported
| Quarter | Change in the index |
|---|---|
| Q1 2026 | −0.1% |
| Q2 2026 | −0.3% |
| Q3 2026 | −0.1% |
Each of the three falls in HDB's resale price index in 2026 was 0.3% or less. In the third quarter of 2026 the index stood at 202.5.
More on this: HDB's resale price index in the previous quarter, Q2 2026
How many flats were resold
| Quarter | Flats resold |
|---|---|
| Q3 2025 | 7,221 |
| Q2 2026 | 6,396 |
| Q3 2026 | 7,645 |
Flat owners resold 7,645 HDB flats in the third quarter of 2026, 19.5% more than the 6,396 resold in the second quarter of 2026 and 5.9% more than the 7,221 resold in the third quarter of 2025. More flats changed hands in the third quarter while HDB's resale price index fell 0.1%.
What resale flats cost, by flat type
| Flat type | Q2 2026 | Q3 2026 |
|---|---|---|
| 3-room | $440,000 | $435,000 |
| 4-room | $630,000 | $625,944 |
| 5-room | $738,000 | $740,944 |
| Executive | $919,000 | $920,000 |
| All flats | $630,000 | $638,000 |
The median price of all resale flats was $638,000 in the third quarter of 2026, against $630,000 in the second quarter. By flat type, the median fell for 3-room flats, from $440,000 to $435,000, and for 4-room flats, from $630,000 to $625,944. The median rose for 5-room flats, from $738,000 to $740,944, and for executive flats, from $919,000 to $920,000.
A median price can rise while HDB's index falls, because a median moves with the mix of flats resold: in the third quarter of 2026 the median price of all resale flats rose while HDB's resale price index fell 0.1%.
Price per square foot, by region
| Region | Q2 2026 | Q3 2026 |
|---|---|---|
| Central | $747 | $752 |
| North-East | $634 | $636 |
| East | $596 | $596 |
| West | $555 | $548 |
| North | $547 | $541 |
The median resale price per square foot rose in the Central Region, from $747 to $752, and in the North-East Region, from $634 to $636. The median fell in the West Region, from $555 to $548, and in the North Region, from $547 to $541. In the East Region the median was $596 in both quarters.
The Central Region had the highest median price per square foot in both quarters, and the North Region and the West Region the lowest.
What HDB said about private property owners
HDB's release of 23 October 2026 notes that the 15-month wait-out for private property owners buying a non-subsidised resale flat was removed on 28 July 2026. HDB says that since then it has not observed a significant increase in the prices, or in the number, of resale flats bought by private property owners and former private property owners. This is HDB's statement; Realila has not measured purchases by private property owners.
What this tells you
HDB's resale price index fell 0.1% in the third quarter of 2026, to 202.5, its third fall in a row, and each of the three falls was 0.3% or less. More flats were resold than in either the second quarter of 2026 or the third quarter of 2025: 7,645, up 19.5% and 5.9%.
In the resale transactions Realila holds, the median price of all resale flats rose to $638,000, while the median fell for 3-room and 4-room flats and rose for 5-room and executive flats. The median price per square foot rose in the Central and North-East regions and fell in the North and West regions.
What this does not tell you
- Prices by town or by lease. Realila's breakdown here is by flat type and by region; a town or a block can sell well above or below its region's median.
- The same flats in both quarters. Each median compares different flats resold in each quarter, so a median can move when the mix of flats changes, with no flat changing in price.
- What a particular flat is worth. An index follows prices across many sales; a flat's own price depends on its town, size, floor, lease and condition.
- Whether private property owners moved prices. That is HDB's statement; Realila has not measured purchases by private property owners.
- Why prices fell or resales rose. HDB's release reports the changes, not their causes, and this note does not measure them.
- The price of a new flat. HDB's resale price index covers resale flats only.
Method and data notes
HDB figures. HDB, "3rd Quarter 2026 Public Housing Data and Upcoming Flat Supply", 23 October 2026, hdb.gov.sg. Every HDB figure is HDB's own, as published: the index, its change from the previous quarter, the number of resale transactions and HDB's statement on private property owners. These are HDB's figures for the quarter, not its earlier flash estimate.
Realila figures. The HDB resale transaction records Realila holds, by contract month, to September 2026, leaving out records withdrawn at source. Medians are across all flats of each type, and of the price per square foot within each region; each HDB town is placed in the URA planning region URA gives its planning area. 1-room, 2-room and multi-generation flats are in the all-flats median but are not shown on their own, as few were resold. Both quarters were computed from the same records when this note was prepared. Realila's count of records can differ slightly from HDB's own count of resale transactions.
Market Snapshot: Private Condos and Apartments
From a year earlier
+0.7%
Last 90 days to 18 Oct 2026
More from Realila
- 3 bedroom to live in: resale or new launch, the renovation break-even
Bought to live in, 2015 to 2020, held about 5 years: a resale 3 bedroom 16 years or older could take a 7.7% renovation and still beat waiting for a launch.
- Dunearn House: price paid against resale nearby and land cost
Dunearn House buyers paid a median $3,107 psf to 19 Oct 2026, 26.9% above resale within 2 km and 2.20 times the land cost.
- What could go wrong for a Thomson Reserve buyer
Price falls, interest rates, a high launch price, competing owners at TOP and falling rent: how far each has gone near Thomson Reserve before.
Every number in this post comes from Realila Research, dated to when it was true. For now we publish research notes from the platform to answer the community's questions; the platform itself opens to the public later.
Join the waitlist
Leave your email and we will tell you when the research platform opens.
Ask for a research note
A question about the market, or data you would like to see.
We read every request. We cannot write a note on every one, but the ones we do write will appear on the Feed, and we will email you if yours does.