The local property market closed the year on a notable high, as Singapore witnessed the surging sale of 248 million-dollar HDB flats in Q4 2025.
While this final quarter settled slightly from the frenetic pace seen earlier, it firmly confirmed a persistent trend where buyers remain willing to pay top dollar for premium, spacious public housing. Evidence of this enduring demand appeared as early as April, which saw 141 flats sold for seven-figure sums.
Buyers remain willing to pay top dollar for premium, spacious public housing, firmly confirming a persistent trend.
Just prior to this closing period, the third quarter of 2025 shattered expectations by recording a massive total of 472 million-dollar resale transactions, marking the highest quarterly figure on record.
It seems that for many ambitious house hunters in the city, the allure of a million-dollar home is hard to resist, despite the undeniably hefty price tag attached.
By the end of September, the market had already witnessed 1,235 of these seven-figure transactions, comfortably surpassing the 1,035 total units sold throughout the entire year of 2024.
September alone was a truly standout month for the records, registering a new monthly high of 172 million-dollar resale flats.
Curiously, while the volume of these high-value sales exploded, the prices themselves didn’t skyrocket as drastically as one might expect.
The average price for these premium flats in 2025 hovered around S$1.14 million, only marginally higher than the S$1.12 million average recorded the previous year, suggesting that price growth at the very top end is finally plateauing.
However, the broader picture shows a complicating reality for the average Singaporean.
The overall HDB resale price index rose by just 0.4% in the third quarter, representing the slowest quarterly increase in nearly five years. Alongside this moderated price growth, the general market saw resale activity rise by 1.7% to 7,221 transactions.
This indicates a significant divergence, where the general market is cooling while the luxury segment remains hot.
Since the timeline of early 2020, overall resale prices have climbed by a staggering 54.9%, widening the affordability gap between hopeful buyers and expectant sellers.
For those with deeper pockets, the luxury market extends beyond HDB flats to prestigious Good Class Bungalows, with a recent listing in District 10 fetching a guide price of $42.8 million.
Consequently, this price friction has led to slower deal negotiations in the broader market, as not everyone can splash a million dollars on a flat.
While general price growth moderates, the volume of million-dollar deals indicates demand is concentrated in top-tier units, proving that location and size still command a king’s ransom in the current housing landscape.
