If you’ve been keeping an eye on the HDB resale April 2025 scene, you’d know things have been heating up. Prices have gone up again, more flats are changing hands, and the number of million-dollar homes is now at an all-time-high (ATH). So, if you’re looking to buy or sell, this is definitely a time to pay attention.
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What you need to know at a glance
In April 2025, the HDB resale Singapore market continued its upward trend. Overall prices rose by 0.7% from March 2025. Meanwhile, 2,309 flats were sold – that’s a significant jump of 20.8% in one month.
But here’s the headline-grabber: 141 flats crossed the million-dollar mark – it’s the highest monthly number ever recorded.
HDB resale prices are climbing across the board
Compared to March 2025, resale prices in mature estates rose by 1%, while those in non-mature estates increased by 0.4%. Across flat types, you’ll find price growth in most categories too.
3-room flats were up by 1%, and 4-room units went up by 0.6%. Executive flats saw the sharpest climb at 3.5%. However, 5-room flats saw no change in prices this time.
Looking at the bigger picture, the SRX Property Price Index shows that prices in April 2025 were 9.3% higher than in April 2024. All room types posted gains year-on-year – 3-room prices surged by 10.2%, 4-room by 9.5%, 5-room by 8.5%, and Executive flats by 6.8%.
In terms of location, resale flat prices in mature estates were 9.1% higher than the same month last year. Non-mature estates weren’t far behind, showing a 9.6% year-on-year growth.
Demand picked up – but Year-on-Year volumes still lag
A total of 2,309 resale flats were sold in April 2025 – a 20.8% rise from March. However, if you compare it to a year ago, April 2024, volumes were actually down by 3.3%. So while recent activity looks strong, there’s still a drop from the previous year.
Breaking the numbers down by flat type:
- 3-room flats made up 25.8% of all April sales,
- 4-room units took the lion’s share at 44.9%,
- 5-room flats made up 22.9%, and
- Executive flats accounted for 6.3% of all transactions.
As for the location of these flats, 59.7% of them were in non-mature estates, while the remaining 40.3% came from mature estates.
Record-breaking 141 million-dollar flat sales
As mentioned previously, an all-time high of 141 million-dollar flats were sold in April. That’s a big leap from March’s 108 units. These high-value flats made up 6.1% of all resale transactions for the month.
Toa Payoh stood out again with 27 of these transactions, followed closely by:
- Bukit Merah: 23 flats
- Kallang/Whampoa and Queenstown: 14 flats each
Other areas where buyers closed million-dollar deals include Bishan, Serangoon, Ang Mo Kio, Central Area, Clementi, Hougang, Bedok, Woodlands, Tampines, Punggol, Jurong East, Pasir Ris, Marine Parade, Geylang, Sengkang, Bukit Timah, and Bukit Panjang.
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Highest sale prices in April 2025
The highest resale price in the month was for a S$1,490,000 5-room flat located at Lor 1A Toa Payoh. In non-matured estates the top transaction there was for an Executive flat at Hougang St 21, which sold for S$1,250,000.
What’s fueling the heat in April’s HDB resale market?
Many things seem to be driving the current ath HDB resale spike. On one hand, there’s growing urgency. With talks of potential policy changes and the upcoming general election, some buyers may have rushed to secure homes before possible new rules and cooling measures kick in. Possible concerns over added property taxes or other costs may have pushed them to act now.
At the same time, new condo prices are still quite high. Because of this, larger HDB flats – especially Executive ones – are now seen as attractive alternatives. That’s likely one reason Executive flat prices saw a 3.5% monthly rise, and why so many buyers turned to non-mature estates in April.
Still, while overall demand was strong, the year-on-year drop in resale volumes suggests that this surge might not be sustained. The higher prices and rise in million-dollar flat sales could simply be a temporary spike, driven by near-term caution and opportunistic moves. As economic uncertainty settles or new policies are introduced, activity in the resale market could moderate in the months ahead.
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
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