The latest HDB resale flash report for August showed a slight slowdown in the market. Prices dipped by 0.1% compared to the previous month, while transaction volumes dropped 14.3% from July. Despite this softer showing, the year-on-year picture remained steady, with prices still higher by 6% compared to August 2024. Alongside these figures, 141 flats crossed the million-dollar mark in August, adding to the ongoing trend of high-value HDB transactions.
Table of contents
TL;DR – Quick summary
- 📉 Prices eased slightly: Overall HDB resale prices dipped by 0.1% in August 2025.
- 🏘️ Volumes fell: 2,211 flats were sold, down 14.3% from July and 15.2% lower year-on-year.
- 🛋️ Room type performance: 3-room flats dipped 0.1%, 4-room stayed flat, while 5-room (+0.8%) and executive flats (+0.2%) saw gains.
- 📆 Year-on-year growth: Prices are still up 6% compared to August 2024.
- 🏙️ Mature vs non-mature estates: Prices in mature estates fell 0.3%, while non-mature estates dropped 0.1%.
- 💰 Highest transaction: An executive flat at The Pinnacle@Duxton sold for S$1.6M; an executive at Yishun Avenue 4 topped non-mature estates at S$1.26M.
- 🏡 Million-dollar deals: 141 million-dollar HDBs changed hands, making up 6.4% of August’s resale market.
What’s behind the numbers?
As shared by Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co, the HDB resale market slowed down in August, with transactions falling by 14.3% compared to July. He explained that this dip is often seasonal, since the Hungry Ghost Festival tends to make some buyers more cautious about making major financial commitments. Because of this, fewer deals are usually closed during this period.
Mr. Luqman also noted that prices edged slightly lower, but this is not unusual. After months of steady gains, a small decline may simply mean the market is taking a short breather. In fact, with prices appearing to level off, the market could be moving into a plateau phase rather than showing weakness.
He added that the broader picture remains strong. Even though August saw a monthly dip, resale prices were still 6% higher than a year ago. This suggests that demand for HDB resale flats continues to hold steady, despite these short-term fluctuations.
A closer look at prices
In August, prices overall dipped slightly. Mature estates recorded a 0.3% decline, while non-mature estates slipped 0.1%. When broken down by flat type, the numbers revealed a mixed performance.
3-room flats dipped by 0.1%, while four-room flats stayed unchanged. On the other hand, 5-room flats gained 0.8%, and executive flats inched up by 0.2%.
Year-on-year, however, all categories posted gains. 3-room flats rose 7.2%, 4-room flats climbed 6.3%, five-room flats gained 5.7%, and executive flats rose 3.3%. Prices in mature estates jumped 6.7% from last year, while non-mature estates climbed 5.3%.
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Fewer transactions in August
On the transaction side, there were 2,211 HDB resale flats sold in August 2025. This was a 14.3% drop from July, showing that fewer deals were closed. Compared to a year ago, resale volumes were down 15.2%.
When looking at room types, 4-room flats remained the most popular, making up 45.3% of sales. 3-room flats followed at 26.1%, while 5-room flats took up 22.9%. Executive flats made up the remaining 5.7%.
In terms of location, non-mature estates accounted for most of the activity, with 58.2% of transactions. Mature estates contributed 41.8% of sales. This shows that many buyers continue to look for affordability in non-mature areas, even while mature estates remain in demand.
Record deals still happened
Even with the slowdown, high-value deals were still recorded.
The highest transacted price in August was S$1.6 million for an executive flat at The Pinnacle@Duxton. This iconic development continues to draw strong interest, with buyers willing to pay premium prices for its location and unique features.
In non-mature estates, the priciest flat sold was an executive unit at Yishun Avenue 4, which went for S$1.26 million. This shows that even in areas further from the central region, executive flats in Yishun can still attract buyers who value size and space.
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Million-dollar HDB resales in August 2025
The million-dollar club also grew further, though at a slower pace compared to July. In August, 141 flats were sold for at least S$1 million, down from 169 units in the previous month. These transactions made up about 6.4% of the month’s total sales.
Bukit Merah led the way with 25 million-dollar flat sales, followed by Toa Payoh with 22 and Clementi with 15. Other towns that saw such high-value transactions included Kallang/Whampoa, Bishan, Ang Mo Kio, Queenstown, Central Area, Geylang, Serangoon, Hougang, Tampines, Bukit Panjang, Bukit Timah, Bedok, Sengkang, Jurong East, Bukit Batok, and Yishun.
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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