Singapore’s million-dollar HDB resale market has hit another record, because apparently even public housing can now have “private condo price” energy.
According to SRX data released on 6 October 2026, 209 HDB resale flats were sold for at least S$1 million in September 2026.
That is up from 201 such transactions in August, making September the highest month on record for million-dollar HDB resale flats.
Million-Dollar Flats Made Up 9.3% of Resale Transactions
The 209 million-dollar flats accounted for 9.3% of all HDB resale transactions in September.
In total, 2,248 HDB resale flats changed hands during the month. This was 10.9% lower than in August, although resale volume was still 2.8% higher than in September 2025.
So, while fewer resale flats were transacted compared with the previous month, the top end of the market still managed to break a new record.
The highest resale price recorded in September was S$1.72 million for a five-room flat at The Pinnacle@Duxton.
For non-mature estates, the priciest transaction was S$1.292 million for an executive flat at Hougang Street 21.
Toa Payoh Had the Most Million-Dollar Deals
Toa Payoh recorded the largest number of million-dollar HDB resale transactions in September, with 33 such deals.
Queenstown followed with 28, while Bedok recorded 20.
Other towns that saw million-dollar transactions included Kallang/Whampoa, Bukit Merah, Bishan, Tampines, Serangoon, Ang Mo Kio, Clementi, Hougang, Bukit Timah, Central Area, Pasir Ris, Punggol, Yishun, Geylang, Marine Parade, Sengkang, Bukit Panjang, Woodlands and Bukit Batok.
In other words, this is no longer just a “very central, very rare, very atas block” phenomenon.
Million-dollar flats are still concentrated in mature and popular estates, but the list now stretches across a wider range of towns.
Overall HDB Resale Prices Rose in September
SRX data showed that HDB resale prices rose 0.6% in September compared with August.
Prices in mature estates increased by 1.4% month-on-month, while prices in non-mature estates rose by 0.1%.
By flat type, five-room flats saw prices rise by 1.7%. However, three-room, four-room and executive flats recorded month-on-month price drops of 0.1%, 0.4% and 0.2% respectively.
Year-on-year, overall HDB resale prices were 0.4% lower than in September 2025.
This means the headline-grabbing million-dollar segment is not the same as the entire resale market. Some parts of the market are still softer compared with a year ago.
HDB’s Flash Estimate Showed a Slight Quarterly Drop
The September data also comes after HDB released its flash estimate for the third quarter of 2026.
According to HDB, the resale price index for Q3 2026 was 202.4, down 0.2% from Q2. This followed earlier quarterly declines of 0.1% in Q1 and 0.3% in Q2.
HDB also said about 7,960 flats would be launched in the next Build-To-Order exercise in November 2026, in towns including Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun.
The board urged flat buyers to exercise prudence when buying property and taking on mortgage loans, noting that the broader economic outlook remains uncertain.
So yes, September gave Singapore a new record for million-dollar HDB resale flats.
But the wider resale market picture is more mixed: overall resale prices rose for the month, transaction volume fell from August, and HDB’s quarterly flash estimate still showed a slight dip.
