Singapore's Housing and Development Board (HDB) resale market showed a significant shift in the first quarter of 2026. The resale price index fell by 0.1 per cent, marking the first quarterly drop since 2019.
Property analysts attribute the moderation to a substantial ramp-up in public housing supply. The government plans to launch around 19,600 Build-to-Order (BTO) flats this year. Concurrently, a surge in flats reaching their five-year minimum occupation period will significantly expand resale inventory.
Global uncertainty, particularly stemming from the Middle East conflict, could further dampen buyer sentiment and impact inflation or borrowing costs.
Analysts now project resale price growth of between 2 per cent and 5 per cent for 2026, indicating a transition toward a more sustainable market phase. Performance will remain uneven, with well-located or newer units in towns like Queenstown and Clementi continuing to command higher prices.