“The best way to predict the future is to create it.” — Peter Drucker.
Imagine opening a clear, data-led brief that shows where the market heads next. You get crisp numbers, key towns, and buyer types that matter now.
By mid-year trends point to a rising share of premium deals and tighter supply from shorter MOP cohorts. July’s volume spike and record transacted counts suggest momentum that could carry into the next time period.
You will read a compact map of forces: supply running low for units reaching MOP, steady demand for space and location, and a pipeline recovery that begins in the coming year.
This section frames the numbers, the policy levers, and the practical moves you can make. When you want tactical help, BuySellRent can tailor the analysis to your needs—WhatsApp us for a discovery session.
Key Takeaways
- July volumes point to continued upside in premium segments.
- Limited supply of MOP-eligible units is supporting prices.
- Profiles of buyers explain where and why premiums form.
- Expect 1,300–1,500 premium deals for the full year under current trends.
- Use timing and COV strategies to manage negotiation risk.
Executive snapshot: August 2025 at a glance for HDB resale market
July’s rebound matters. With 2,576 transactions (+13.6% MoM), momentum returned and sets a cautious baseline for August.
Key August indicators: million-dollar share, average prices, and volume momentum
Average resale price climbed to about S$656,000 (+0.5% MoM). Price bands in July showed 21.3% below S$500k; 43.9% between S$500k–S$700k; 28.2% at S$700k–
YTD counts reached 932 units by end-July, positioning the market to likely exceed last year’s record before month-end.
What’s driving demand now versus a year ago
Demand is led by move-in-ready households and upgraders who value location and space over condo premiums. PR families are adding to buyer interest in central and mature towns.
Practical read: track the share of flats sold above S$1M as an early sentiment gauge. If you want a tailored town-level read, WhatsApp BuySellRent for a quick discovery session to match this snapshot to your goals.
From anomaly to norm: how million-dollar HDB flats surged in recent years
You can trace a steady climb from a one-off sale to consistent seven-figure transactions in key towns.
The first seven-figure sale surfaced in 2012 (Queenstown). From 2017, Toa Payoh and Kallang/Whampoa led the charge. Bukit Merah followed after 2018, helped by Tiong Bahru View’s SERS draw.
2017–2024 ramp-up: town leaders
By 2024, the three towns recorded 400+ high-value transactions combined. Counts in 2024 alone were 156 for Kallang/Whampoa, 144 for Toa Payoh, and 135 for Bukit Merah.
“Where centrality, lease freshness and layout converge, seven-figure outcomes follow.”
Post-pandemic accelerants
Supply delays, a clear preference for larger, move-in-ready units, and lower rates created a perfect storm. Buyers shifted toward ready stock instead of long waits.
| Town | Notable drivers | 2024 count | 2024 share (approx) |
|---|---|---|---|
| Toa Payoh | Centrality, The Peak project | 144 | High |
| Kallang/Whampoa | Lease freshness, project depth | 156 | High |
| Bukit Merah | Tiong Bahru View, SERS inflows | 135 | High |
What this means for you: use these years of data to benchmark value in your town. BuySellRent can model town curves and risks. See the market note or WhatsApp us to compare your neighborhood’s seven-year trajectory.
July-to-August 2025 pulse check: sales volume, price levels, and segments
Market momentum in late July showed faster-moving units and firmer pricing across bands.
Rebound in transactions
July recorded 2,576 transactions, a rise of 13.6 per cent month-on-month and the highest count in 11 months.
This spike pushed year-to-date seven-figure totals to 932 units, with 169 seven-figure sales in July alone.
Price resilience and band shifts
The average resale price edged to about S$656,000, up 0.5 per cent month-on-month. The S$500k–S$700k band gained share at 43.9 per cent, while the S$700k–
Premium segment signals
Sales at or above S$1M made up 6.6 per cent of July transactions. That pace sets up the market to likely surpass 1,035 seven-figure deals by the end of August.
| Metric | July value | Change |
|---|---|---|
| Transactions | 2,576 | +13.6% MoM |
| Average price | S$656,000 | +0.5% MoM |
| Price band >= S$1M | 169 units (6.6 per cent) | Up from 5.8 per cent |
Actionable note: if you want a tailored bidding or listing plan for August, WhatsApp BuySellRent and we will translate this data into a clear entry or exit roadmap by price band.
Singapore million-dollar HDB resale flats August 2025
July’s figures show a clear tilt: four-room units are driving more seven-figure outcomes than many expected.
The year-to-date number reached 932 units by end‑July, placing the market on pace to outdo last year’s 1,035 deals. July alone recorded 169 seven-figure transactions.
Flat types crossing seven figures
Four-room flats led July with 76 units. Five-room units followed at 50, executives at 42 and one multi-gen. Non-mature towns contributed 18 deals.
Buyer profiles and implications
Buyer mix stays steady: upgraders, former private owners returning after the wait-out, and eligible PR families. These buyers value fresh layouts and central blocks.
- Top July estates: Toa Payoh (33), Bukit Merah (19), Kallang/Whampoa (17).
- Priciest July transaction: Bishan maisonette at S$1.588M.
| Metric | July | YTD |
|---|---|---|
| Seven-figure transactions | 169 | 932 |
| Four-room units | 76 | — |
| Non-mature town deals | 18 | — |
Action: bring your shortlist to BuySellRent. WhatsApp us for a discovery session to review eligibility, financing, and timing for seven-figure opportunities.
Supply crunch meets steady demand: why prices and million-dollar deals persist
A shallow pipeline of market-ready units has pushed buyers to compete for central, newer stock.
Estimated MOP arrivals drop to about 8,000 units in this period. That is the lowest level in a decade. Supply tightness keeps sellers confident and listing power strong.
MOP drought and the turning point
Expect a recovery to roughly 13,500 units in 2026. Until then, demand stays concentrated on well-located, newer properties within 10–15 years of age.
Upgrading within HDB versus private options
Many upgraders find condos too costly. They prefer newer, central flats for space and value. This behaviour props up prices and sustains resale activity.
Listings above S$1M and competition
- High-end listings rose from 2.0% to ~2.4% YTD mid‑June.
- Competition centers on MRT-proximate blocks with strong amenities.
- Small flexibility on micro-location or storey can save significant sums.
Action: WhatsApp BuySellRent for a town-by-town supply map through 2026 and beyond. We will overlay MOP timelines with demand drivers to time your move.
Hotspot towns and estates: where million-dollar resale flats cluster
Certain towns concentrate buyer interest; these areas set pricing trends that ripple outward.
Toa Payoh, Kallang/Whampoa and Bukit Merah lead in volume. Their centrality and landmark projects draw repeat buyer demand.
Other areas lifting share
Bishan, Bukit Timah and the Central Area show elevated per cent shares of high-value transactions. That pushes local comps and lifts nearby prices.
Projects to watch
Pinnacle@Duxton, Tiong Bahru View and The Peak @ Toa Payoh remain bellwethers. These projects set expectations for adjacent blocks and guide bid strategies.
Non-mature breakout
July’s data confirmed units crossing the S$1M mark in Punggol, Sengkang, Yishun and others. This widening appeal changes how buyers view housing choice.
“Know the block and the stack—premium buyers focus on view, floor and connectivity.”
| Area | Notable project | 2024–25 trend | July notes |
|---|---|---|---|
| Toa Payoh | The Peak | High density of deals | Consistent leader |
| Kallang/Whampoa | Tiong Bahru View | Strong project depth | High volumes |
| Bukit Merah | Pinnacle@Duxton | Centrality premium | Top counts |
- Buyers: shortlist blocks with proven seven-figure depth, MRT access and school networks.
- Sellers: assemble local comparables within 200–400m to justify pricing.
WhatsApp BuySellRent to get a micro-market map and a shortlist of target blocks with deep buyer interest.
Price bands and affordability: under-$500k to just-under-$1M vs seven-figure deals
Price bands are shifting under buyers’ feet as upper-mid tiers gain traction. July’s distribution shows clear movement across affordability bands and this affects where you look and how you bid.
Shift in distribution
In July, the share below S$500k eased to ~21.3 per cent while the S$500k–S$700k band rose to ~43.9 per cent. The S$700k–under-S$1M band moderated to ~28.2 per cent and units at or above S$1M held at about 6.6 per cent.
Rising-tide effect in the upper mid-tier
The YTD mix shows the S$800k–S$900k bracket making up ~8.7 per cent of sales. That shift pulled more buyers toward upper-mid options and lifted median resale prices.
| Band | July share | Note |
|---|---|---|
| <S$500k | ~21.3% | Down from June |
| S$500k–S$700k | ~43.9% | Largest share |
| S$700k–<S$1M | ~28.2% | Moderating |
With median resale prices near S$625,000 and median million‑dollar units at ~S$1.1M, plan buffers for transport‑node premiums and COV swings. For sub‑S$700k budgets target mid‑floors or estates with fresh supply. If you stretch into S$800k–S$900k, compare COV expectations across blocks.
Practical step: WhatsApp BuySellRent to calibrate your budget bands and COV risk for a town‑level shortlist. We map live absorption and units turnover so you bid with confidence.
Flat types and configurations: four-room, five-room, executive dynamics
When location, floor and layout align, a four-room flat can outcompete larger units for buyers. July set a new monthly record: 76 four-room sales crossed the S$1M mark. That shows central four-room units now match the liquidity and price power of bigger formats.
Why four-room sales are rising in central locations
Four-room units hit premium price points when they offer high-floor views, corner stacks or landmark-project status. Kallang/Whampoa’s surge reflects these attributes — buyers prize compact efficiency plus central access.
Executive/maisonette scarcity premium: Bishan standout
Executives and maisonettes carry a clear scarcity premium. July’s priciest deal was a Bishan maisonette at S$1.588M, high floor and next to MRT and mall amenities. That sale signals how large-format layouts can command top prices when paired with connectivity.
Practical takeaways:
- Four-room units can hit top-tier price bands when central and well-configured.
- Executives/maisonettes gain value from rarity and usable space near transport nodes.
- Compare usable area, ceiling height and storey-value when weighing five-room vs executive choices.
| Configuration | July units | Key premium drivers |
|---|---|---|
| Four-room | 76 | High floor, central estate, special stacks |
| Five-room | 50 | Usable space, family appeal |
| Executive / Maisonette | 42 | Scarcity, larger layouts, premium nodes (e.g., Bishan) |
| Multi‑gen | 1 | Flexible layout; niche demand |
Sell smarter: highlight ceiling height, lift-landing access and corner status to justify price. For buyers, quantify renovation needs and future liquidity before stretching for a premium unit.
“Know the stack and the view; that is where true configuration value hides.”
BuySellRent will benchmark configurations and map target units to your goals. WhatsApp us to identify the layouts that maximise livability and long-term resale outcomes for your profile.
Policy backdrop and outlook: cooling measures, BTO pipeline, and Prime/Plus impact
New lending limits and launch schedules are changing the rhythm of buying and selling.
LTV trims, BTO launches, and balance flats
Late‑August policy tightened loan ratios: HDB lending-to-value was cut to 75% in the previous period. That reduces borrowing headroom and raises the bar for financing large bids.
In July, the housing development board released more than 5,500 BTO units and over 4,600 balance flats. These launches add near-term options that pull some demand away from the resale market.
Longer MOPs and a potential supply vacuum to 2038
Prime/Plus schemes carry 10‑year MOPs. Many of those projects will only reach MOP in about 13 years, into the 2030s. That timing could thin available stock and sustain premiums in adjacent estates.
| Policy | Effect | Timeframe |
|---|---|---|
| LTV 75% | Lower borrowing capacity | Immediate |
| BTO / balance flats | Shorter completion options | Months–years |
| Prime/Plus 10‑year MOP | Supply delay; scarcity premium | Up to years to 2038 |
Price trajectory and practical moves
Analysts expect asking price for central four‑room units in Prime/Plus areas to rise past S$1.4M by 2038, even after subsidy adjustments. But across the broader market, expect moderate gains as tighter credit and fresh BTO stock temper rapid climbs.
“Use time‑to‑completion and lease balance to compare resale versus new supply.”
Practical tip: choose financing with per cent buffers for COV and valuation gaps. WhatsApp BuySellRent to align your plan with policy timelines and upcoming completions.
Actionable strategies for buyers and sellers in August 2025
Act now: short windows in high-demand towns reward prepared buyers and disciplined sellers.
Buyers: navigate COV risk and timing
Pre-empt valuation gaps. Secure a formal val report and compare same-stack trades before you bid.
Set a hard per cent cap on COV exposure and use a three-offer approach: anchor on valuation, step-up for standout attributes, then a best-and-final with expiry.
Target listings as BTO and balance-flat launches divert some competition; this can improve odds on your shortlist.
Sellers: position and sequence to protect proceeds
Where possible, sell first to avoid ABSD when moving to private property. Align completion dates and bridging finance early.
Package unique attributes—corner stacks, lift landing, view corridors and MRT proximity—into your valuation narrative.
For high-value candidates, pre-inspect and stage to defend the resale price against nitpicks.
- Lock financing early; LTV trims raise sensitivity near loan thresholds.
- If you own in Toa Payoh or Bukit Merah, price tightly to recent units and negotiate fast.
BuySellRent choreographs valuation, bridging and legal milestones so you don’t miss critical windows. WhatsApp us for a tailored negotiation and sequencing checklist.
Work with BuySellRent: WhatsApp us for a discovery session
Imagine a short, data-led plan that turns market signals into clear steps for your next move.
We translate data into action. July delivered the strongest monthly resale volume in 11 months and 169 seven-figure sales, with YTD seven-figure totals at 932.
Data-led town selection, valuation guidance, and negotiation strategy
We build a town-by-town shortlist using live demand signals, not only historical averages.
- Model valuation bands, COV risk, and probability of negotiation success at different entry prices.
- Craft premium narratives for sellers using block-level comps and buyer psychographics.
- Sequence financing, legal and completion dates to avoid ABSD and reduce downtime between sale and purchase.
- Benchmark against July–August momentum and the mid‑year listing rise (~2.4% of listings above S$1M) to calibrate timing.
Weekly updates keep you aware of new listings above S$1M, absorption by band, and shifts in buyer demand as MOP supply moves from ~8,000 toward a 2026 recovery of ~13,500.
WhatsApp BuySellRent for a discovery session and get a bespoke buying or selling roadmap in days.
Conclusion
Market signals point to a narrow window where well‑timed moves capture value. July posted 2,576 transactions, an average price near S$656k and a record 169 million-dollar flats, taking the YTD number to 932. This mix of tight supply and steady demand keeps hdb resale activity focused on core towns.
For buyers: prioritise comps in Toa Payoh and similar estates, set valuation buffers and target the right resale flat rather than chasing headlines. For sellers, highlight unique layout and timing to command top prices.
BuySellRent turns these data into a plan. When you’re ready to move, WhatsApp us for a discovery session and act with evidence, not guesswork.
FAQ
What defines a million-dollar resale flat and why are they rising?
A million-dollar resale flat is an HDB unit that trades at or above the one‑million-dollar price point. The rise reflects limited supply of newer MOP units, stronger demand for centrally located flats, and a shift toward larger layouts. As younger upgraders and former private homeowners return to the public market, well-located four‑room and executive units command premiums that push prices into seven figures.
Which towns lead in high‑value resale transactions?
Toa Payoh, Bukit Merah and Kallang/Whampoa consistently top the list due to centrality and mature estate amenities. Bishan, Bukit Timah and parts of the Central Area have seen growing proportions of seven‑figure deals, while non‑mature towns like Yishun and Punggol recorded isolated high‑value sales driven by specific projects or scarce configurations.
Are four‑room flats the main contributors to million‑dollar sales?
Yes. Four‑room units in prime locations are increasingly crossing the one‑million mark, often because buyers prioritise centrality and functional layouts over larger room counts. Executive and maisonette scarcity also supports higher prices for those unique configurations.
How many million‑dollar resale units have transacted so far this year?
Transactions into the seven‑figure range have surged year‑to‑date, with the market tracking toward or surpassing last year’s pace by mid‑year. Specific town and unit‑type counts vary, but the trend shows a notable increase in units hitting seven figures compared with prior years.
What role does supply, especially MOP expiries, play in price momentum?
Supply tightness is a key driver. A multi‑year drought of flats reaching minimum occupation period (MOP) limits fresh listings, keeping competition high for eligible units. Recovery in supply is expected later, but the near‑term imbalance sustains upward price pressure and more million‑dollar outcomes.
How do policy measures and BTO launches affect the resale market?
Cooling measures such as lower loan‑to‑value limits and restrictions on ownership can temper speculative demand. Conversely, the BTO pipeline influences long‑term supply; a concentrated number of launches may temporarily ease pressure, while constrained launches in popular estates maintain resale premiums.
Who are the typical buyers of seven‑figure flats?
Buyers include upgraders within the housing system, former private homeowners returning after a wait‑out, and permanent resident families seeking central amenities. Many prioritise location, school access and low maintenance hassle over condo amenities.
Should sellers adjust pricing strategy in this market?
Yes. Sellers should highlight scarcity factors—central address, favourable floor plans, recent renovations—and price to capture demand while allowing negotiation room for offers. Working with an agent who presents data‑led comparables helps justify premium asking prices.
Are there emerging non‑mature hotspots to watch for high‑value transactions?
Certain projects in towns like Punggol and Sengkang have produced seven‑figure sales in isolated cases. Watch for unique configurations, park or waterfront proximity, and transit links that can push prices above typical town medians.
How can buyers manage cash‑over‑valuation (COV) risk in hotspots?
Mitigate COV risk by setting strict price caps, obtaining up‑to‑date valuation reports, and comparing recent transacted prices for similar units. Consider alternative towns or unit types if premiums become untenable.
What timelines should buyers and sellers expect given current market dynamics?
Transaction timelines remain competitive for well‑located, move‑in ready units—offers can arrive fast. Buyers should be prepared with financing and valuation contingencies. Sellers may still achieve quick sales but should sequence listings to avoid triggering additional taxes like ABSD where applicable.
How does the rise in upper‑mid price bands affect overall affordability?
Growth in the 0k–
FAQ
What defines a million-dollar resale flat and why are they rising?
A million-dollar resale flat is an HDB unit that trades at or above the one‑million-dollar price point. The rise reflects limited supply of newer MOP units, stronger demand for centrally located flats, and a shift toward larger layouts. As younger upgraders and former private homeowners return to the public market, well-located four‑room and executive units command premiums that push prices into seven figures.
Which towns lead in high‑value resale transactions?
Toa Payoh, Bukit Merah and Kallang/Whampoa consistently top the list due to centrality and mature estate amenities. Bishan, Bukit Timah and parts of the Central Area have seen growing proportions of seven‑figure deals, while non‑mature towns like Yishun and Punggol recorded isolated high‑value sales driven by specific projects or scarce configurations.
Are four‑room flats the main contributors to million‑dollar sales?
Yes. Four‑room units in prime locations are increasingly crossing the one‑million mark, often because buyers prioritise centrality and functional layouts over larger room counts. Executive and maisonette scarcity also supports higher prices for those unique configurations.
How many million‑dollar resale units have transacted so far this year?
Transactions into the seven‑figure range have surged year‑to‑date, with the market tracking toward or surpassing last year’s pace by mid‑year. Specific town and unit‑type counts vary, but the trend shows a notable increase in units hitting seven figures compared with prior years.
What role does supply, especially MOP expiries, play in price momentum?
Supply tightness is a key driver. A multi‑year drought of flats reaching minimum occupation period (MOP) limits fresh listings, keeping competition high for eligible units. Recovery in supply is expected later, but the near‑term imbalance sustains upward price pressure and more million‑dollar outcomes.
How do policy measures and BTO launches affect the resale market?
Cooling measures such as lower loan‑to‑value limits and restrictions on ownership can temper speculative demand. Conversely, the BTO pipeline influences long‑term supply; a concentrated number of launches may temporarily ease pressure, while constrained launches in popular estates maintain resale premiums.
Who are the typical buyers of seven‑figure flats?
Buyers include upgraders within the housing system, former private homeowners returning after a wait‑out, and permanent resident families seeking central amenities. Many prioritise location, school access and low maintenance hassle over condo amenities.
Should sellers adjust pricing strategy in this market?
Yes. Sellers should highlight scarcity factors—central address, favourable floor plans, recent renovations—and price to capture demand while allowing negotiation room for offers. Working with an agent who presents data‑led comparables helps justify premium asking prices.
Are there emerging non‑mature hotspots to watch for high‑value transactions?
Certain projects in towns like Punggol and Sengkang have produced seven‑figure sales in isolated cases. Watch for unique configurations, park or waterfront proximity, and transit links that can push prices above typical town medians.
How can buyers manage cash‑over‑valuation (COV) risk in hotspots?
Mitigate COV risk by setting strict price caps, obtaining up‑to‑date valuation reports, and comparing recent transacted prices for similar units. Consider alternative towns or unit types if premiums become untenable.
What timelines should buyers and sellers expect given current market dynamics?
Transaction timelines remain competitive for well‑located, move‑in ready units—offers can arrive fast. Buyers should be prepared with financing and valuation contingencies. Sellers may still achieve quick sales but should sequence listings to avoid triggering additional taxes like ABSD where applicable.
How does the rise in upper‑mid price bands affect overall affordability?
Growth in the $700k–$1M and upper‑mid tiers lifts median resale prices, tightening affordability for first‑time or lower‑income buyers. The effect filters into financing constraints and buyer eligibility, influencing the composition of active buyers in each town.
Can working with a specialised agency improve outcomes?
Yes. Data‑led town selection, precise valuation guidance, and negotiation strategy tailored to seven‑figure markets increase the odds of a favourable sale or purchase. Agencies that track transaction volumes, price bands, and buyer profiles provide actionable advantage.
M and upper‑mid tiers lifts median resale prices, tightening affordability for first‑time or lower‑income buyers. The effect filters into financing constraints and buyer eligibility, influencing the composition of active buyers in each town.
Can working with a specialised agency improve outcomes?
Yes. Data‑led town selection, precise valuation guidance, and negotiation strategy tailored to seven‑figure markets increase the odds of a favourable sale or purchase. Agencies that track transaction volumes, price bands, and buyer profiles provide actionable advantage.
