HDB's Resale Price Index slipped 0.1% in the third quarter of 2026, its third small fall in a row, while resale sales jumped 19.5% to 7,645 flats. More flats changed hands at almost the same prices: a 4-room flat's median price was $628,000, level with a year earlier. A record number of flats sold for $1 million or more, and the gap between young and old leases kept widening.
What HDB reported for 3Q 2026
HDB published its final third-quarter figures on 23 October 2026. Its flash estimate on 1 October had pointed to a 0.2% fall; the final figure was a little better.
| Measure | 3Q 2026 | Change |
|---|---|---|
| Resale Price Index | 202.5 | −0.1% on 2Q 2026 (202.8) |
| Resale transactions | 7,645 | +19.5% on 2Q (6,396); +5.9% on 3Q 2025 (7,221) |
| Flash estimate, 1 October | 202.4 | −0.2% |
| Index in 1Q and 2Q 2026 | 203.4, 202.8 | −0.1% and −0.3% |
The jump in sales came in the quarter HDB removed the 15-month wait-out for private property owners, on 28 July. HDB says it has not seen a significant increase in the prices or number of resale flats bought by private owners since then, so the extra sales came mostly from ordinary buyers and sellers. URA's private home price index rose 1.4% in the same quarter, so the gap between HDB and private prices widened again.
This is the 3Q 2026 edition. The 2Q 2026 edition has the April to June figures.
What is your own flat worth?
A town median mixes old and young leases, high and low floors. A free valuation accounts for your remaining lease, floor and condition, not just the town median.
Median prices by flat type
HDB's index is adjusted for flat age, size and location, so it doesn't give a dollar figure for any flat. For dollar figures I used HDB's own transaction records on data.gov.sg: 7,406 resale deals registered from July to September 2026. That total is slightly below HDB's 7,645 because the two sources count deals differently.
| Flat type | Deals | Median 3Q 2026 | 2Q 2026 | 3Q 2025 | Year on year |
|---|---|---|---|---|---|
| 2-room | 207 | $370,000 | $378,000 | $375,000 | −1.3% |
| 3-room | 1,579 | $435,000 | $440,000 | $450,000 | −3.3% |
| 4-room | 3,266 | $628,000 | $630,000 | $630,000 | −0.3% |
| 5-room | 1,818 | $741,888 | $738,000 | $740,000 | +0.3% |
| Executive | 531 | $920,000 | $920,000 | $900,888 | +2.1% |
Larger flats held their value and 3-room flats slipped, the same split as last quarter but a little wider. The median price per square foot was $582 for a 3-room flat, $609 for a 4-room and $578 for a 5-room.
3Q 2026 resale prices by town
Each figure is the median price, with the number of deals in brackets. A dash means fewer than ten deals, too few for a median to mean much. Each town name links to its price page, which covers the last 12 months by flat type and street.
| Town | 3-room | 4-room | 5-room | $1m+ deals | All deals |
|---|---|---|---|---|---|
| Ang Mo Kio | $415,000 (112) | $620,000 (64) | $995,000 (35) | 32 | 226 |
| Bedok | $405,000 (150) | $610,000 (175) | $762,500 (78) | 42 | 437 |
| Bishan | $495,888 (17) | $750,000 (60) | $961,500 (38) | 33 | 133 |
| Bukit Batok | $409,000 (88) | $604,444 (188) | $805,000 (93) | 3 | 411 |
| Bukit Merah | $431,500 (66) | $934,000 (116) | $982,500 (50) | 56 | 243 |
| Bukit Panjang | $465,000 (25) | $575,000 (103) | $686,000 (74) | 4 | 230 |
| Bukit Timah | — | — | — | 9 | 16 |
| Central Area | $536,500 (14) | $830,000 (23) | $1,350,000 (11) | 17 | 50 |
| Choa Chu Kang | $417,500 (24) | $550,000 (151) | $657,500 (102) | 0 | 306 |
| Clementi | $438,888 (57) | $885,000 (50) | $1,025,000 (22) | 25 | 132 |
| Geylang | $390,000 (85) | $755,000 (59) | $925,444 (16) | 17 | 165 |
| Hougang | $450,000 (63) | $616,000 (173) | $809,000 (86) | 29 | 377 |
| Jurong East | $396,800 (55) | $540,944 (42) | $718,000 (33) | 2 | 144 |
| Jurong West | $375,000 (78) | $538,000 (173) | $630,000 (113) | 0 | 415 |
| Kallang/Whampoa | $438,000 (92) | $880,000 (97) | $955,000 (37) | 43 | 239 |
| Marine Parade | $460,000 (18) | — | $1,055,000 (16) | 9 | 41 |
| Pasir Ris | — | $629,000 (100) | $735,000 (61) | 14 | 242 |
| Punggol | $540,000 (56) | $680,000 (267) | $795,000 (167) | 7 | 531 |
| Queenstown | $450,000 (105) | $1,065,000 (95) | $1,235,000 (28) | 86 | 238 |
| Sembawang | $508,500 (20) | $605,000 (119) | $634,000 (70) | 0 | 239 |
| Sengkang | $540,000 (33) | $635,000 (259) | $690,000 (175) | 5 | 537 |
| Serangoon | $475,000 (22) | $663,888 (57) | $841,500 (26) | 20 | 126 |
| Tampines | $495,000 (118) | $671,000 (294) | $795,000 (183) | 32 | 651 |
| Toa Payoh | $363,500 (106) | $1,023,500 (114) | $990,000 (54) | 93 | 289 |
| Woodlands | $388,000 (53) | $545,000 (245) | $650,000 (154) | 11 | 517 |
| Yishun | $435,000 (115) | $550,000 (231) | $678,000 (89) | 7 | 471 |
The cheapest towns for a 4-room flat were Jurong West ($538,000), Jurong East ($540,944) and Woodlands ($545,000). The most expensive were Queenstown ($1,065,000) and Toa Payoh ($1,023,500), both above $1 million, then Bukit Merah ($934,000). Tampines had the most resale deals of any town, 651. The cheapest 4-room and 5-room towns guide ranks every town over six months and separates cheap flats from short leases.
Why some town medians moved
The Central Area's 4-room median fell 38% on a year earlier, to $830,000. That is not a crash. In 3Q 2025 the typical 4-room flat sold there had 84 years of lease left; in 3Q 2026 it had 58. With only 23 deals in each quarter, a few newer flats selling or not selling moves the median a long way.
Choa Chu Kang's 3-room median fell 13% for the same reason: the typical flat sold had 62 years left, against 90 a year earlier. Toa Payoh shows the reverse. Its 4-room median rose 3.8% to $1,023,500 because more newer flats sold: those with 90 years or more left rose from 40% of deals to 61%. Queenstown's 7.8% rise in 4-room prices came with little change in the leases sold (a median of 89 years left against 86), so it is closer to a real increase, though it rests on 95 deals.
To see the real direction, compare flats with similar leases across the island. For 4-room flats:
| Remaining lease | Deals, 3Q 2026 | Median 3Q 2026 | Median 3Q 2025 | Change |
|---|---|---|---|---|
| Under 60 years | 682 | $545,000 | $560,000 | −2.7% |
| 60 to 80 years | 1,178 | $580,000 | $582,828 | −0.5% |
| 80 to 95 years | 1,406 | $708,888 | $702,000 | +1.0% |
Newer flats gained a little, older flats slipped, and the shortest leases slipped most, by more than last quarter. That split matters more to a seller than any town median. If your flat has less than 60 years left, price it against recent sales in your own block and street, not the town median. How HDB valuation works explains why.
Million-dollar flats
596 flats sold for $1 million or more between July and September, a record, up from 490 in the second quarter and 480 a year earlier. The count comes from the transaction records. Most were 4-room (241) and 5-room (202) flats, plus 146 executive flats, and 23 of the 26 towns had at least one. Toa Payoh (93), Queenstown (86) and Bukit Merah (56) led. The highest price was $1,720,000 for a 5-room flat on the 19th to 21st floors of Block 1C Cantonment Road, sold in September. A record number of million-dollar sales while the index slipped is consistent: more newer, central flats reached their MOP and sold, and they sold high.
October: an early read
Transaction records published by 31 October show 2,176 deals registered in October. The 4-room median was $628,844 and the 5-room median $760,000, and 238 flats sold for $1 million or more. That is one month, and not yet a complete one, so treat it as a direction, not a result. HDB's flash estimate for the fourth quarter is due at the start of January.
What it means if you are selling or buying
- More sales, steady prices. Sales rose by a fifth while prices barely moved, so buyers and sellers both turned up in numbers. HDB says 13,500 flats reach their MOP in 2026, then 15,000 in 2027 and 19,500 in 2028, against 8,000 in 2025. Buyers keep getting more choice. Sellers of ordinary flats in the same estates face more competition.
- Private owners are back, quietly. Since 28 July, private property owners can buy a resale flat of any size without waiting 15 months, without grants or an HDB loan, and must sell their private property within six months. HDB has not seen them push prices up so far. The wait-out guide covers who qualifies.
- New BTO flats in November. HDB's November 2026 exercise offers about 7,960 flats in Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, plus Community Care Apartments in Toa Payoh. First-timers who can wait for a new flat may hold off on buying resale in those towns.
- Lease matters more than town. The lease table above shows the gap between young and old leases widening for a second quarter. Older-lease sellers should price realistically from the start instead of cutting later. How long it takes to sell sets out what an overpriced listing costs in time.
Your next steps
- Look up your own block's recent sales on neighbour prices and your town page on HDB prices by town.
- Get a free valuation that accounts for your remaining lease, floor and condition, not just the town median.
- If you are selling to upgrade, check the numbers on the next home with the affordability calculator and read selling after MOP.
Book a call with me to go through your block's numbers. If you are comparing agents, the commission guide sets out what the fee should cover.
Buying a resale flat in one of these towns?
Once you have a flat in mind, check how much cash you need on top of your loan and CPF, including any cash over valuation.
Sources and review date
Reviewed 31 Oct 2026. Official figures come from HDB's 3rd Quarter 2026 public housing data (23 October 2026), the flash estimate (1 October 2026), HDB's wait-out announcement (28 July 2026) for MOP supply, and URA's 3rd Quarter 2026 real estate statistics. Medians, lease splits, million-dollar counts and the October read are my own analysis of HDB's resale flat prices dataset on data.gov.sg (Singapore Open Data Licence), downloaded 31 October 2026, grouped by registration month.
Frequently asked questions
Did HDB resale prices fall in 3Q 2026?
Barely. HDB’s Resale Price Index fell 0.1% in the third quarter of 2026 to 202.5, its third small quarterly fall in a row. Resale transactions rose 19.5% on the quarter to 7,645, so more flats sold at almost the same prices.
What is the median price of a 4-room HDB resale flat in 3Q 2026?
The median 4-room resale price was $628,000 in July to September 2026, based on 3,266 transactions in HDB’s data.gov.sg records. That is 0.3% below a year earlier. Town medians ranged from $538,000 in Jurong West to $1,065,000 in Queenstown.
Which town has the cheapest 4-room resale flats?
Jurong West had the lowest 4-room median in 3Q 2026 at $538,000, followed by Jurong East at $540,944 and Woodlands at $545,000. Some cheap medians reflect short remaining leases, so compare flats with similar lease left.
How many HDB flats sold for over $1 million in 3Q 2026?
596 flats sold for $1 million or more between July and September 2026 in HDB’s transaction records, a record, up from 490 in the second quarter. Toa Payoh, Queenstown and Bukit Merah had the most.
This guide is general market information, not a valuation or financial advice. Medians describe transactions that happened, not what a particular flat will fetch. Get a valuation for your own flat before setting a price.