How Many Million-Dollar HDB Flats Were Sold? (2026)

In Singapore, HDB flats are public housing. They are meant to be affordable and for the masses since 77.2% of Singapore residents live in HDB (Housing & Development Board) flats.

The average cost of housing has been increasing (and thus is one of the good asset classes that generate wealth). Are properties as affordable now as they were intended to be?

The first ever transaction of an HDB flat being sold for at least $1 million was in 2012. Since then, records have been continuously broken.

In this report, we look at trends and statistics on million-dollar HDB resale flats in Singapore, including how many were transacted in 2025 and over the past years, locations of these homes, the types of flats (4-room, 5-room, etc) sold, and more.

Top Million-Dollar HDB Flats Statistics

• 1,594 HDB flats were sold for $1 million or more in 2025. This is another record-breaking year, with that figure being 54% higher than that of 2024
• Million-dollar transactions remained a minority, making up just 6.35% of all HDB resale transactions in 2025
• 1,035 HDB flats were sold for at least $1 million in 2024
• 470 HDB flats were sold for at least $1 million in 2023
• A total of 4,029 million-dollar HDB flats have been sold
• The first million-dollar transaction was in July 2012
• The most expensive HDB flat was sold for $1,658,888 in June 2025
• The top 5 areas with the most million-dollar transactions are Toa Payoh, Bukit Merah, Queenstown, Kallang/Whampoa, and Bishan
• Out of 27 HDB towns and estates, only 4 towns have not seen million-dollar transactions, namely, Chua Chu Kang, Jurong West, Sembawang, and Tengah

Million-Dollar HDB Resale Flats in 2025

A record-breaking 1,594 HDB resale flats were sold for $1 million or more in 2025. This figure is 54% higher than the number recorded in 2024, marking another milestone year for the market.

In 2025, there were 25,092 HDB resale transactions, of which 1,594 were valued at $1 million or more, representing 6.35% of the total.

Below shows further details of those transactions:

HDB Town/Estate	4-Room	5-Room	Executive	Multi-Gen	Others	Total
Ang Mo Kio	24	45	12			81
Bedok		11	28			39
Bishan	7	52	38	1		98
Bukit Batok		4	4			8
Bukit Merah	110	106				216
Bukit Panjang			11			11
Bukit Timah		14	9			23
Central	38	17				55
Chua Chu Kang						–
Clementi	52	44	10			106
Geylang	38	14	10			62
Hougang		7	38			45
Jurong East			16			16
Jurong West						–
Kallang/Whampoa	86	51	8		2	147
Marine Parade		15				15
Pasir Ris			20			20
Punggol		4				4
Queenstown	114	53	6			173
Sembawang						–
Sengkang		10	1			11
Serangoon		6	44			50
Tampines		11	56	1		68
Tengah						–
Toa Payoh	195	93	14			302
Woodlands			29			29
Yishun			14	1		15
Total	664	557	368	3	2	1,594

Of the 1,594 flats, 664 were 4-room, 557 were 5-room, 368 were executive, 3 were multi-generation, and 2 were terraces (others).

The top 3 areas where most transactions happened were in Toa Payoh, Bukit Merah, and Queenstown.

Million-Dollar HDB Resale Flats in 2024

1,035 HDB resale flats were sold for $1 million or more in 2024.

Below shows further details of those transactions:

HDB Town/Estate	4-Room	5-Room	Executive	Multi-Gen	Others	Total
Ang Mo Kio	13	43	11			67
Bedok		5	20			25
Bishan	3	38	37			78
Bukit Batok		1	2			3
Bukit Merah	55	80				135
Bukit Panjang			9			9
Bukit Timah		12	12			24
Central	30	17				47
Chua Chu Kang						–
Clementi	13	27	12			52
Geylang	23	18	9			50
Hougang		3	28			31
Jurong East			6			6
Jurong West						–
Kallang/Whampoa	106	39	7		4	156
Marine Parade		5				5
Pasir Ris			5			5
Punggol		3				3
Queenstown	65	40	4			109
Sembawang						–
Sengkang		2	2			4
Serangoon		3	26			29
Tampines			20	2		22
Tengah						–
Toa Payoh	73	56	15			144
Woodlands			22			22
Yishun			7	2		9
Total	381	392	254	4	4	1,035

Of the 1,035 flats, 381 were 4-room, 392 were 5-room, 254 were executive, 4 were multi-generation, and 4 were terraces (others).

The top 3 areas where most transactions happened were in Kallang/Whampoa, Toa Payoh, and Bukit Merah.

Million-Dollar HDB Resale Flats in 2023

470 HDB resale flats were sold for $1 million or more in 2023.

Below shows further details of those transactions:

HDB Town/Estate	4-Room	5-Room	Executive	Multi-Gen	Others	Total
Ang Mo Kio	3	21	7			31
Bedok		3	6			9
Bishan	8	6	31			45
Bukit Batok			4			4
Bukit Merah	19	43				62
Bukit Panjang			1			1
Bukit Timah		6	8			14
Central	36	11	1			48
Chua Chu Kang						–
Clementi	2	22	7			31
Geylang		8	3			11
Hougang			5			5
Jurong East			6			6
Jurong West						–
Kallang/Whampoa	21	23	7		3	54
Marine Parade		5				5
Pasir Ris			2			2
Punggol		2				2
Queenstown	24	18	6			48
Sembawang						–
Sengkang						–
Serangoon			15			15
Tampines		1	1			2
Tengah						–
Toa Payoh	12	33	12			57
Woodlands			14			14
Yishun			3	1		4
Total	125	202	139	1	3	470

Of the 470 flats, 125 were 4-room, 202 were 5-room, 139 were executive, 1 was multi-generation, and 3 were terraces (others).

The top 3 areas where most transactions happened were in Bukit Merah, Toa Payoh, and Kallang/Whampoa. 

Million-Dollar HDB Flats Over Time

The first ever million-dollar HDB flat transaction was in Jul 2012. It was an executive flat that sold for $1,000,000. The unit was between 16-18 stories at Blk 149 Mei Ling Street located in Queenstown, and had a space of 150 sqm.

Since then, yearly sales of million-dollar HDB flats have almost always increased. 

A total of 4,029 HDB resale flats were sold for at least $1 million, from the very first transaction in 2012 to December 2025.

Year	Number of Million-Dollar HDB Flats
2012	2
2013	3
2014	2
2015	12
2016	20
2017	46
2018	71
2019	64
2020	82
2021	259
2022	369
2023	470
2024	1,035
2025	1,594
Total	4,029

Million-dollar HDB transactions have surged since 2021, when sales tripled to 259.

This momentum continued as figures quadrupled 2020 levels in 2022 (369), reached 470 in 2023, and doubled again to 1,035 in 2024.

By 2025, a new record of 1,594 transactions was set, a 54% increase over the previous year.

Most Expensive HDB Flat

Singapore’s most expensive HDB resale flat was sold for a record $1,658,888. This 122-sqm premium loft apartment is located in Queenstown and has a remaining lease of 89 years.

Below are details of the most expensive HDB flats:

Transaction Date	Resale Price	Town/Estate	Flat Type	Block	Street Name	Storey Range	Floor Area (sqm)	Flat Model	Lease Commencement Date	Remaining Lease
2025-06	$1,658,888	QUEENSTOWN	5 ROOM	92	DAWSON RD	22 TO 24	122.00	Premium Apartment Loft	2016	89 years 11 months
2025-11	$1,632,000	BISHAN	5 ROOM	275A	BISHAN ST 24	34 TO 36	120.00	DBSS	2011	84 years 10 months
2025-11	$1,600,000	BISHAN	EXECUTIVE	135	BISHAN ST 12	22 TO 24	163.00	Maisonette	1987	60 years 08 months
2025-08	$1,600,000	CENTRAL AREA	5 ROOM	1G	CANTONMENT RD	49 TO 51	105.00	Type S2	2011	84 years 05 months
2025-01	$1,600,000	TOA PAYOH	5 ROOM	138A	LOR 1A TOA PAYOH	19 TO 21	117.00	DBSS	2012	86 years 06 months

As of December 2025, a total of 5 units were sold for $1.6 million or more.

Will we see records broken again? Only time will tell.

Locations of Million-Dollar HDB Flats

The top 5 areas with the most million-dollar transactions are Toa Payoh, Bukit Merah, Queenstown, Kallang/Whampoa, and Bishan.

HDB Town/Estate	Number of Million-Dollar HDB Flats
Central	367
Toa Payoh	609
Bukit Merah	507
Kallang/Whampoa	429
Queenstown	449
Bishan	369
Ang Mo Kio	216
Clementi	229
Others	854

And here’s the breakdown from 2012 to 2025: 

HDB Town/Estate	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	Total
Ang Mo Kio	81	67	31	30	5	2									216
Bedok	39	25	9	3											76
Bishan	98	78	45	50	37	14	11	12	17	2	1	2	1	1	369
Bukit Batok	8	3	4	1											16
Bukit Merah	216	135	62	45	24	13	5	7							507
Bukit Panjang	11	9	1												21
Bukit Timah	23	24	14	10	13		3	3	2		1		1		94
Central	55	47	48	50	75	22	22	18	10	11	9				367
Chua Chu Kang															–
Clementi	106	52	31	21	10	4	1	1	2	1					229
Geylang	62	50	11	7		1									131
Hougang	45	31	5	5				1							87
Jurong East	16	6	6	1											29
Jurong West															–
Kallang/ Whampoa	147	156	54	26	19	3	5	8	3	6	1		1		429
Marine Parade	15	5	5	3											28
Pasir Ris	20	5	2	2											29
Punggol	4	3	2	1											10
Queenstown	173	109	48	38	38	16	9	12	5					1	449
Sembawang															–
Sengkang	11	4													15
Serangoon	50	29	15	15	7				1						117
Tampines	68	22	2	2											94
Tengah															–
Toa Payoh	302	144	57	45	31	7	8	9	6						609
Woodlands	29	22	14	9											74
Yishun	15	9	4	5											33
Total	1,594	1,035	470	369	259	82	64	71	46	20	12	2	3	2	4,029

In Singapore, there are a total of 27 housing towns and estates, as outlined by HDB. All except 4 towns have already seen million-dollar transactions. Those 4 towns are Chua Chu Kang, Jurong West, Sembawang, and Tengah. 

With the rising cost of living and property prices, perhaps we could see those towns having their firsts in the next few years.

Flat Types of HDB Flats Sold for $1 Million or More

Most transactions were for 5-room flats, followed by executive, and 4-room. 

Type of Flats	2025	2024	2023	2022	2021	2020	2019	2018	2017
4-Room	664	381	125	38	44	14	10	9	0
5-Room	557	392	202	221	160	55	44	47	37
Executive	368	254	139	109	50	12	10	14	8
Multi-Gen	3	4	1	1	0	0	0	0	0
Others (Terrace)	2	4	3	0	5	1	0	1	1

Generally, all types of flats are trending upwards. 

It is noteworthy that the first transaction for 4-room million-dollar flats was in 2018, and since then, the number of transactions has been growing. If smaller-sized flats are commanding such a high price, it can be a sign of concern.

Qualities of a Million-Dollar HDB Flat

What makes a million-dollar flat? Here are 3 main qualities: 

1. Location – Location, location, location. Flats closer to the central area tend to command higher prices. Other factors include being in mature estates and close to significant amenities, such as MRTs or town centres. 
2. Size – As Singapore lacks land and space, bigger-sized homes are pricier. The rarity of these flats also matters. Jumbo flats or lofts tend to be costly not only because of their larger space, but they are also in limited quantities. 
3. Lease – People usually pay more for flats with longer leases remaining. The high-priced flats in Pinnacle@Duxton not only just came out of their 5-year MOP (Minimum Occupation Period), they were in the central area. The exception to this point is that older flats have shorter remaining leases but tend to have bigger spaces. The other exception is simply a good location. 

What’s Next?

The rise in property prices in Singapore is simply due to supply and demand. 

Government policies, such as compulsory CPF contributions, BTOs, and grants, enabled Singaporeans to purchase homes comfortably. In addition, median household incomes rose significantly over the years. But the amount of properties available still remains limited. 

The government has since tweaked its policies to prevent an overheated property market, especially in public housing. This will continue to be an extremely important and delicate issue as it has considerable social and economic impacts on youths in Singapore. 

Higher-priced homes also mean larger liabilities (mortgage loans). For your family to continue to have a roof over their heads, consider protecting your income through term insurance or mortgage insurance (personal plans or HPS). They ensure that mortgage loans can be fully paid for if undesirables, such as death, permanent disabilities, or critical illnesses, happen.

Methodology

We only looked at the most reliable data available and that comes from HDB. It includes comprehensive data on HDB resale flats, dating back to 1990. The dataset looks at several fields, namely, registration date, town, flat type, block number, storey range, floor area, flat model, lease commencement date, remaining lease, and the resale price. Although the data is updated daily, we’ll only update this report after the end of a quarter.