Singapore HDB resale prices cool while affordability remains constrained for buyers

24 September 2026 · Source balance: Centre

Singapore's public housing market is showing signs of moderation in 2026. After years of rapid price growth, the HDB resale price index fell by 0.1 percent in the first quarter of 2026, the first quarterly decline since 2019. This cooling comes as the government has doubled the supply of resale-eligible flats to over 13,000 units entering the market this year. Despite the slowdown, affordability pressures persist. A household needs a monthly income between 5,872 and 11,876 Singapore dollars to afford a median-priced HDB resale flat. The government continues to adjust policy tools, including increasing income ceilings and housing grants to keep public housing accessible. Interest rates have eased to around 2.6 percent for HDB loans, providing some relief to borrowers. Notably, the market is splitting into two distinct tiers: premium million-dollar flats in mature estates remain strong, while emerging locations offer more affordable options for budget-conscious buyers.