HDB estimates 0.9% rise in resale prices for Q2 2025

This is the lowest increase since Q2 2020.

The Housing & Development Board (HDB) has released its flash estimate for the second quarter 2025 resale price index (RPI), registering a value of 202.8, up 0.9% from the previous quarter.

This is the third straight quarter of slower price growth, and the lowest increase since Q2 2020.

According to HDB, resale transaction volume for Q2 2025 (up to 29 June) was 6,981 units, down 5.0% from 7,352 units in the same period last year.

With Singapore’s economic growth expected to slow and labour demand showing early signs of weakening, HDB advises buyers to remain cautious when purchasing homes or taking loans.

In July 2025, HDB will launch about 5,500 BTO flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh, and Woodlands.

A sale of balance flats (SBF) exercise will also offer around 3,000 flats.

Combined with February’s SBF launch, the total SBF supply in 2025 will exceed 8,500 units.

Buyers must have a valid HDB flat eligibility (HFE) letter to apply for flats in the July sales exercises.

Applicants were advised to submit all required documents by 15 May 2025. Those who applied after this date may not receive their HFE letters in time.

The HFE e-Service will be temporarily unavailable during the July sales exercise to allow HDB to focus on processing flat applications.

Buyers with valid HFE letters or who applied before the cutoff will not be affected.