Property prices in Singapore have soared over the last decade.
This isn’t surprising, given the limited land availability and constant high demand for properties. As long as this demand remains, prices are likely to keep rising, indirectly increasing attention on mortgage-related products to help buyers secure more affordable rates.
However, when these prices reach unsustainable and unaffordable levels, the government steps in with cooling measures to stabilise the market. This has been the case recently.
But what does the future hold? Will prices keep climbing, or are we on the brink of a cooldown?
To answer these questions, we’ll look into the latest trends and statistics on both public and private housing prices in Singapore.
Note: All figures are in Singapore dollars (SGD).
Top Statistics on Housing Prices in Singapore (2026)
- HDB resale prices remained flat in Q4 2025, though they rose 2.9% year-on-year. This follows a 9.7% annual increase in 2024, trailing historical jumps of 4.9% (2023), 10.4% (2022), and a 12.7% peak in 2021. Long-term growth remains massive, with prices surging 51% over the last decade and 177% over the past 20 years
- Private residential property prices rose 0.6% in Q4 2025 and 3.3% year-on-year. Full-year growth for 2024 slowed to 3.9%, trailing increases of 6.8% in 2023 and 8.6% in 2022. Long-term, prices have surged 52.8% over the past decade and a dramatic 156.1% over 20 years
- The average prices for HDB resale flats, condos, and landed properties are $652,498, $2,128,942, and $5,928,412, respectively
- The median prices for HDB resale flats, condos, and landed properties are $628,000, $1,875,000, and $4,650,000, respectively
- The average price per square foot for HDB resale flats, condos, and landed properties is $638.80, $2,123.95, and $1,815.79, respectively
- In 2025, 1,594 HDB flats have been resold for at least $1 million
- A total of 4,029 HDB flats have been sold for $1 million or more
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Residential Property Price Index: Are Prices Still Trending Upwards?
Here are some data and statistics on the housing prices of HDB resale flats and private residential properties from 2000 to 2025.
HDB Resale Flats
For HDB resale flats, prices remained largely unchanged in the fourth quarter of 2025, dipping marginally from an index of 203.7 in the third quarter to 203.6.
| Year | Quarter | Index | % Change from Previous Quarter |
|---|---|---|---|
| 2025 | 4th | 203.6 | 0.0% |
| 3rd | 203.7 | 0.4% | |
| 2nd | 202.9 | 0.9% | |
| 1st | 201.0 | 1.6% | |
| 2024 | 4th | 197.9 | 2.6% |
| 3rd | 192.9 | 2.7% | |
| 2nd | 187.9 | 2.3% | |
| 1st | 183.7 | 1.8% | |
| 2023 | 4th | 180.4 | 1.1% |
| 3rd | 178.5 | 1.3% | |
| 2nd | 176.2 | 1.5% | |
| 1st | 173.6 | 1.0% | |
| 2022 | 4th | 171.9 | 2.3% |
| 3rd | 168.1 | 2.6% | |
| 2nd | 163.9 | 2.8% | |
| 1st | 159.5 | 2.4% | |
| 2021 | 4th | 155.7 | 3.4% |
| 3rd | 150.6 | 2.9% | |
| 2nd | 146.4 | 3.0% | |
| 1st | 142.2 | 3.0% | |
| 2020 | 4th | 138.1 | 3.1% |
| 3rd | 133.9 | 1.5% | |
| 2nd | 131.9 | 0.3% | |
| 1st | 131.5 | 0.0% |
On a year-on-year basis, prices rose by 2.9% in the fourth quarter, indicating a continued upward trajectory. However, the pace of growth has decelerated considerably compared to the previous year. For context, HDB resale prices increased by 9.7% in 2024, following jumps of 4.9% in 2023, 10.4% in 2022, and a peak of 12.7% in 2021.
Over the past 10 years, HDB resale prices have risen by 51.0%, and when extending the view to 20 years, prices have surged by a staggering 177.0%.
Private Residential Properties
In the fourth quarter of 2025, prices of private residential properties increased by 0.6%.
| Year | Quarter | Index | % Change from Previous Quarter |
|---|---|---|---|
| 2025 | 4th | 216.4 | 0.6 |
| 3rd | 215.1 | 0.9 | |
| 2nd | 213.2 | 1.0 | |
| 1st | 211.1 | 0.8 | |
| 2024 | 4th | 209.4 | 2.3% |
| 3rd | 204.7 | -0.7% | |
| 2nd | 206.1 | 0.9% | |
| 1st | 204.3 | 1.4% | |
| 2023 | 4th | 201.5 | 2.8 |
| 3rd | 196.0 | 0.8 | |
| 2nd | 194.4 | -0.2% | |
| 1st | 194.8 | 3.3% | |
| 2022 | 4th | 188.6 | 0.4% |
| 3rd | 187.8 | 3.8% | |
| 2nd | 180.9 | 3.5% | |
| 1st | 174.8 | 0.7% | |
| 2021 | 4th | 173.6 | 5.0% |
| 3rd | 165.3 | 1.1% | |
| 2nd | 163.5 | 0.8% | |
| 1st | 162.2 | 3.3% | |
| 2020 | 4th | 157.0 | 2.1% |
| 3rd | 153.8 | 0.8% | |
| 2nd | 152.6 | 0.3 | |
| 1st | 152.1 | NA |
On a year-on-year basis, private residential property prices grew by 3.3% in the same quarter.
For the entirety of 2024, prices rose by 3.9%. While this is still a steady increase, it represents a slowdown compared to previous years, with prices climbing by 6.8% in 2023, 8.6% in 2022, and 10.6% in 2021. The market appears to be cooling slightly after the rapid growth seen earlier in the decade.
Over the past 10 years, private residential property prices have increased by 52.8%. Expanding the timeline to 20 years reveals an even more dramatic rise, with prices surging by 156.1%.
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Average and Median Prices for HDB Resale Flats, Condos, and Landed Properties
In Singapore, 77.2% of households live in HDB flats, which are considered public housing. A smaller proportion, 17.9%, reside in condominiums, while 4.7% live in landed properties. The remaining 0.2% are in other types of housing. Most condominiums and landed properties fall under the category of private housing.
HDB flats are the most affordable housing option, while landed properties are the most expensive.
| Housing Type | Average Price | Median Price |
|---|---|---|
| HDB Flats | $652,498 | $628,000 |
| Condo | $2,128,942 | $1,875,000 |
| Landed | $5,928,412 | $4,650,000 |
To put things into perspective, the median prices of condominiums are three times higher than those of HDB flats. For landed properties, prices are 7.4 times higher than HDB flats.
When looking at average prices per square foot (or square metre) and average sizes, excluding location, the differences become even clearer.
| Housing Type | Average Price/Sq. Foot | Average Size (Sq. Foot) | Average Price/Sq. Metre | Average Size (Sq. Metre) |
|---|---|---|---|---|
| HDB Flats | $638.80 | 1,021.38 | $6,876 | 94.89 |
| Condo | $2,123.95 | 1,002.22 | $22,862 | 93.11 |
| Landed | $1,815.79 | 3,264.93 | $19,545 | 303.32 |
Although the average sizes of HDB flats and condominiums are similar, the price per square foot for condominiums is 3.3 times higher than for HDB flats. This reflects the premium paid for private housing.
Landed properties, on the other hand, offer more than three times the floor area of condos or HDB flats, yet their average price per square foot (PSF) remains slightly lower than that of condos. This is largely because the sheer size of these homes drives the overall purchase price to levels that are prohibitively high for most buyers, naturally capping the PSF.
For more detailed statistics, such as the breakdown of different types of HDB flats (e.g., 4-room, 5-room) or price variations by location (Core Central Region, Rest of Central Region, and Outside Central Region), you might want to take a look at this article.
It’s important to note that these figures represent only the purchase prices. They don’t account for the full range of costs associated with buying and owning a home. When all these expenses are considered, the total cost can be enormous, especially as housing-related costs have all increased in recent years.
Number of Million-Dollar HDB Resale Flats Sold
HDB flats are meant to be affordable, but with the rising cost of housing in Singapore, a number of these flats have been sold for over a million dollars. This price point places them well out of reach for the average Singaporean.
In 2025, 1,594 HDB flats were resold for $1 million or more. For comparison, 1,035 such flats were sold in 2024, 470 in 2023, and 369 in 2022. The trend is clear: million-dollar HDB resale transactions are becoming increasingly common.
Since the first million-dollar transaction in July 2012, a total of 4,029 HDB flats have been resold for at least $1 million. The record for the most expensive flat ever sold was set in June 2025, when a unit fetched $1,658,888.
Ranking of Singapore Property Prices in the World
How do Singapore’s property prices stack up against the rest of the world?
In the Asia-Pacific region, Singapore’s private homes are now the most expensive to own, surpassing even Hong Kong, which has long been considered the most costly city in the world for homeownership.
One key factor driving this price surge is strong foreign demand for residential properties in Singapore. Previously, foreigners could purchase private properties here at an Additional Buyer’s Stamp Duty (ABSD) rate of 30%. These properties are the same ones that locals who prefer private housing would also consider. However, the influx of foreign buyers pushed prices even higher, prompting the government to implement cooling measures. The ABSD rate for foreigners was doubled to 60%, making Singapore’s property market less attractive to overseas investors.
It’s important to note, though, that these trends primarily affect private housing.
The majority of Singaporeans live in public housing, or HDB flats. While the prices of HDB flats may still seem high compared to housing costs in other countries, direct comparisons are difficult to make. This is because Singaporeans benefit from various grants and subsidies, the ability to use CPF Ordinary Account (OA) savings for down payments and mortgage payments, and unique policies created by the HDB.
These measures enhance the affordability of HDB flats, which is reflected in Singapore’s high homeownership rate of 90.8% — one of the highest in the world. This system ensures that despite the high prices, a majority of Singaporeans can still afford to own their homes.
Final Thoughts
Residential properties in Singapore, including resale HDB flats, remain costly. However, with the recent cooling measures, we may begin to see a slowdown in price increases. It’s important to remember that the government is prepared to implement further cooling measures if prices remain elevated and increasingly unaffordable.
Given this environment, HDB strongly advises potential homebuyers to be cautious in their purchases. It’s important not to overstretch financially, especially with global uncertainties such as prolonged high interest rates. These factors could have a lasting impact on the property market and your financial situation.
That said, your home is likely to be one of the most significant financial assets you’ll ever own. To protect this investment, ensure that you are adequately covered with mortgage insurance, term insurance, or whole life insurance. This will provide you with peace of mind, knowing that your family is financially secure no matter what the future holds.
Methodology
All of the data presented in this article are accurate as of February 2026. Please note that the data might be affected by rounding errors. All data concerning HDB resale flats are from HDB’s website and national data. All data concerning private properties are from URA’s website and national data.
