HDB resale deals dip in March as buyers turn to private market and new launches

Sellers are also cautious about raising prices amidst softer demand.

HDB resale transactions dipped 9.2% in March compared to February, which could point to buyers being more attracted to private resale and new launches, Luqman Hakim, Chief Data & Analytics Officer at 99.co said.

HDB resale prices remained the same in March 2025 compared to February 2025. Prices in Mature Estates decreased by 0.4%, whilst prices in Non-Mature Estates increased by 0.8%. In terms of room types, 3-room prices, 5-room prices, and Executive prices decreased by 0.9%, 1.1%, and 2.4%, respectively. Meanwhile, 4-room prices increased by 1.1%.

Year-on-year (YoY), the overall price increase was 9.5% from March 2024.

Meanwhile, resale volumes in March 2025 fell by 7.4% YoY. Breaking it down by room type, in March 2025, 26.7% of the HDB resale volumes came from 3-room, 44.2% from 4-room, 23.4% from 5-room, and 5.7% from Executive.

By estate, 56.6% of the resale volumes in March 2025 came from Non-Mature Estates. The remaining 43.4% in the month was from Mature Estates.

“Sellers may also be more cautious about raising asking prices, especially amidst softer demand and increased competition from the private housing segment. With buyers weighing their options across both public and private segments, activity in the resale market may remain subdued in the coming months unless there’s a major change in borrowing costs or government policy,” Hakim said.

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