Million-dollar HDB sales hit record 201 in August 2026

Singapore’s million-dollar HDB resale segment reached a new high in August 2026, with 201 flats sold for at least S$1 million. This was the first time the monthly tally crossed 200, surpassing the previous record of 188 transactions set in June.

The milestone came even as overall resale activity eased from July’s recent high. Together, the figures point to a stabilising overall HDB resale market, even as demand for premium flats remains strong.

Million-dollar HDB sales cross 200 for the first time

The 201 million-dollar HDB resale transactions recorded in August represented a 7.5% increase from the 187 units sold in July.

The latest figure followed two already active months at the upper end of the market. June set the previous all-time high with 188 transactions, while July came just one deal short of matching it.

Million-dollar flats also made up 8% of all HDB resale transactions in August, up from 7% in July. While these flats still represented a relatively small portion of the overall market, their growing share shows that more buyers are willing to pay a premium for homes with sought-after attributes.

Toa Payoh recorded the highest number of million-dollar transactions during the month, with 32 flats sold. Queenstown followed with 26 transactions, while Bukit Merah recorded 21. Together, these three towns accounted for 79 transactions, or around 39% of all million-dollar HDB sales in August.

The remaining transactions were spread across 18 other towns, including Bishan, Hougang, Kallang/Whampoa, Bedok, Tampines, Pasir Ris, Woodlands, Sengkang, Bukit Panjang and Bukit Batok. This wider spread shows that seven-figure transactions are no longer limited to a handful of central locations. “Demand for well-located and premium flats is likely to remain resilient, particularly as buyers continue to prioritise larger homes in mature estates,” said Luqman Hakim, Chief Data & Analytics Officer at 99.co.

Overall HDB resale prices edge up by 0.1%

Despite the record number of million-dollar transactions, overall HDB resale prices increased by a more measured 0.1% month-on-month in August. Prices in Mature Estates rose by 0.7%, while those in Non-Mature Estates remained stable.

Category	Month-on-month	Year-on-year
Overall	+0.1%	-0.5%
3-room flats	-0.3%	-1.6%
4-room flats	+0.2%	-0.6%
5-room flats	Stable	-0.6%
Executive flats	+2.8%	+1.7%
Mature Estates	+0.7%	-0.3%
Non-Mature Estates	Stable	-0.8%

Performance also differed across flat types. Executive flat prices recorded the largest increase at 2.8%, followed by a 0.2% increase for 4-room flats. Prices of 3-room flats fell by 0.3%, while 5-room flat prices remained stable.

The slight monthly increase came after overall resale prices fell by 0.7% in July. However, prices remained 0.5% lower than in August 2025, suggesting that the broader market is still moving through a period of price moderation.

Executive flats were the only flat type to record year-on-year price growth, with prices increasing by 1.7%. In comparison, annual prices declined across 3-room, 4-room and 5-room flats.

The 2.8% monthly increase for Executive flats should also be viewed in context. These flats accounted for just 6.9% of August’s resale volume, which means a heavier concentration of higher-priced transactions can have a more noticeable effect on the monthly movement.

Why can million-dollar sales reach a record while overall prices remain stable?

The two trends may initially seem at odds, but they measure different parts of the market. The 201 figure tracks how many individual flats crossed the S$1 million mark. The overall resale price index, meanwhile, reflects price movements across different flat types and towns.

Million-dollar flats accounted for 8% of all transactions in August. This means that 92% of the resale flats sold during the month were still transacted for less than S$1 million.

As a result, strong demand for a relatively small group of premium flats can coexist with stable or slightly lower prices across the wider HDB resale market. The record therefore does not mean that HDB resale prices are rising quickly across the board.

Resale volume eases after July’s recent high

“HDB resale activity eased slightly in August 2026, with 2,524 flats changing hands, down 5.1% from July’s 2,660 transactions,” Luqman said.

However, August was still the second most active month over the past year. Resale volume was also 14.1% higher than in August 2025, indicating that buyer interest has continued to hold up despite the monthly decline.

“The latest figures point towards a stabilising resale market after transaction activity hit a recent high in July. Despite the month-on-month dip, August remained the second most active month in the past year,” he adds. 

The lower volume may partly reflect a normalisation in activity after July’s rebound. Some demand could have been temporarily held back by the June school holidays and BTO exercise before returning to the resale market in July.

Four-room flats continued to account for the largest share of August’s transactions at 47%. This was followed by 5-room flats at 23.4%, 3-room flats at 22.7% and Executive flats at 6.9%.

Non-Mature Estates remained slightly more active, contributing 56.7% of all transactions. Mature Estates accounted for the remaining 43.3%.

Tiong Bahru View records August’s highest resale price

The highest-priced HDB resale transaction in August was a 5-room flat at Tiong Bahru View, which changed hands for S$1,688,888. 

The 1,206 sqft flat at Block 9B Boon Tiong Road sits between the 28th and 30th storeys and has around 88 years remaining on its lease. The transaction works out to approximately S$1,401 psf.

Tiong Bahru View was completed in 2016 and reached its Minimum Occupation Period in 2021. Its relatively young age, high-rise units and proximity to Tiong Bahru MRT have helped it become one of Bukit Merah’s most closely watched HDB resale projects. The latest sale also surpassed Tiong Bahru View’s previous high of S$1.648 million, recorded in March 2026, by around S$40,000.

Among Non-Mature Estates, the highest-priced transaction was an Executive flat along Woodlands Street 81, which sold for S$1.25 million.

Could the removal of the 15-month wait-out period support demand?

The record number of million-dollar transactions came shortly after the Government removed the 15-month wait-out period for private residential property owners at the end of July.

The change allows eligible private property owners and former owners to purchase a non-subsidised HDB resale flat without first waiting 15 months. This could widen the pool of potential resale buyers, particularly among private homeowners looking to right-size.

However, it may still be too early to determine how much the policy change contributed to August’s record. The figures are based on resale registration dates, and some transactions registered during the month may have been negotiated before the wait-out period was removed. Its fuller effect should become clearer over the next few months as more newly eligible buyers have time to enter the market.

For now, August’s figures reinforce the difference between the broader resale market and its upper end. Overall prices remain relatively stable, while well-located, newer and larger flats continue to attract buyers willing to pay a premium.