A new all-time high (ATH) was reached with 169 million-dollar HDB resale flats sold in July 2025 – more than any single month ever recorded.
This record-breaking figure adds to a strong year overall. Year-to-date, there have already been 488 million-dollar flat transactions. That’s more than the 470 transactions seen across all of 2023, and we’re only in August. At this pace, 2025 is on track to meet or even surpass 2024’s total.
Table of contents
- A quick summary of July’s resale market
- What’s driving these numbers?
- HDB resale prices in July 2025
- Breakdown of July 2025’s transactions
- The most expensive flats sold in July
- Where were the million-dollar flats sold?
A quick summary of July’s resale market
Here’s what happened in July 2025, at a glance:
- 2,580 HDB resale flats were sold, a 13.4% jump from June.
- Million-dollar flats made up 6.6% of the total monthly resale volume.
- Prices remained stable, though some room types saw slight dips.
- The highest transacted flat for the month went for S$1.588 million.
What’s driving these numbers?
The increase in July resale volume likely reflects a rebound from June. School holidays may have caused some buyers to pause earlier in the year. But by July, many returned to the market. Even with this rebound, resale volumes were still 15.4% lower than the same period last year. That could be due to growing concerns about affordability.
Also, the July BTO launch and Sale of Balance Flats exercises may have drawn some younger buyers away from the resale market.
Even so, demand for larger units in city-fringe locations stayed strong. Many of you are still on the hunt for spacious homes – especially if you’re upgrading from a smaller flat or right-sizing from a private property. This demand has helped push million-dollar sales to a new peak in July.
HDB resale prices in July 2025
HDB resale prices overall stayed flat in July 2025. However, if you take a closer look, some room types saw small changes. Prices in Mature Estates increased by 0.2%, while Non-Mature Estates saw a smaller rise of 0.1%. At the same time, 3-room flats recorded a dip of 0.2%, and both 5-room and Executive flats saw a decrease of 0.5%. 4-room flats also experienced a slight drop in prices.
On a year-on-year basis, overall HDB resale prices climbed by 6.6% from July 2024. Among the different flat types, 3-room flats saw the biggest jump at 8.2%, followed by 4-room flats with a 6.2% increase. 5-room flats went up by 5.6%, and Executive flats rose by 4.2%. Meanwhile, prices in Mature Estates increased by 6.8% year-on-year, with Non-Mature Estates close behind at 6.6%.
Breakdown of July 2025’s transactions
In total, 2,580 HDB resale flats changed hands in July 2025, reflecting a 13.4% increase from the previous month. When broken down by flat type, 3-room flats made up 24.1% of the month’s resale transactions, while 4-room flats accounted for the largest share at 45.4%. 5-room flats contributed 23.6%, and Executive flats made up the remaining 6.9% of the total resale volume.
In terms of estate type, Non-Mature Estates accounted for 60.5% of all resale transactions in July. The remaining 39.5% of flats sold were located in Mature Estates, showing a continued interest in more affordable housing options outside of central regions.
The most expensive flats sold in July
The highest resale price for the month came from an Executive flat at Bishan Spring, which changed hands for S$1,588,000.
Over in Yishun Avenue 4, the most expensive flat in a Non-Mature Estate was another Executive flat – this one sold for S$1,288,888.
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Where were the million-dollar flats sold?
Out of the 169 million-dollar transactions in July, some towns stood out more than others:
- Toa Payoh led the pack with 33 million-dollar sales
- Next came Bukit Merah with 19 units, followed by Kallang/Whampoa with 17
Other areas that saw at least one million-dollar flat sold include:
Clementi, Queenstown, Geylang, Ang Mo Kio, Tampines, Bishan, Serangoon, Central Area, Yishun, Hougang, Bedok, Bukit Timah, Woodlands, Pasir Ris, Bukit Batok, Marine Parade, Punggol, Sengkang, Bukit Panjang, and Jurong East.
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