What Happened in 2025
After several years of strong price growth, the HDB resale market finally showed signs of slowing in 2025.
Price increases moderated sharply compared to 2023 and 2024. Quarterly growth softened, some months saw flat or near-flat movements, and transaction volumes declined noticeably. Buyers became more selective, sellers adjusted expectations, and negotiations returned to the table.
👉 Rozi’s Field Notes
A slowdown does not mean weakness. It often means the market is finding balance again after a period of aggressive growth. For buyers and sellers alike, this is where clarity matters more than hype.
Why the Market Slowed
Several factors came together in 2025 to cool the resale market.
First, supply increased. More BTO and SBF flats were launched, offering buyers alternatives to resale units. This eased some of the urgency that had previously pushed prices up.
Second, buyer affordability hit resistance. Even with stable interest rates, higher absolute prices meant buyers were more cautious and value-driven.
Third, policy and sentiment effects lingered. Cooling measures, tighter loan considerations, and growing price sensitivity shifted behaviour from fear-of-missing-out to wait-and-see.
👉 Rozi’s Field Notes
Markets don’t move just on numbers. They move on confidence. In 2025, confidence didn’t disappear, it matured.
What This Means for Buyers in 2026
As we move into 2026, buyers are likely to find a more rational environment.
Price growth is expected to remain modest rather than explosive. This gives buyers space to assess fundamentals such as location, remaining lease, layout, and long-term liveability instead of rushing into decisions.
Negotiation power improves when supply is available and urgency is lower. For first-timers and right-sizers, this can be a healthier entry point.
👉 Rozi’s Field Notes
A calmer market rewards preparation. Buyers who understand their numbers and timelines will benefit more than those chasing headlines.
What This Means for Sellers in 2026
For sellers, 2026 will likely be less about “testing high prices” and more about pricing correctly from the start.
Well-maintained units in strong locations will still transact, but unrealistic expectations may lead to longer listing periods. Presentation, timing, and strategy matter more now than ever.
Sellers who align with market realities rather than past peak prices are more likely to move smoothly.
👉 Rozi’s Field Notes
In a balanced market, the best outcomes come from alignment, not stubbornness.
The Bigger Picture Heading Into 2026
The 2025 slowdown signals a shift, not a downturn.
We are entering a phase where the HDB resale market behaves more sustainably. Price growth may continue, but at a pace supported by income growth, supply, and genuine demand.
This sets a more stable foundation for 2026 especially for households planning upgrades, right-sizing, or long-term asset progression.
👉 Rozi’s Field Notes
Healthy markets are not about fast gains. They are about steady progress that families can live with and sleep well through.