The resale volume in Q1 2025 is 7.7 per cent lower than that in the same period last year. Despite the lower sales volume, the overall performance of resale flats in the first quarter of this year is considered remarkable. The resale market faced intense competition from the primary market, as HDB introduced more than 10,000 new flats during the BTO and SBF sales exercise in February 2025, coinciding with a continued price increase observed in the previous quarter. The trend shows that the HDB resale market remain resilient, even in the face of competition for buyers and rising prices.
Market Outlook
Although the macroeconomic landscape is likely to face increased uncertainties due to potential trade wars stemming from tariff policies enacted by the United States, the HDB resale market is expected to remain robust. The HDB housing market is likely to be more significantly impacted by domestic factors.
For example, the market may be driven by a growing number of Singaporeans upgrading within the same HDB sector, as well as private homeowners opting to downsize to resale flats that offer greater affordability compared to private properties. Generous government subsidies and grants available to specific buyer groups will continue to enhance affordability, making it easier for first-time buyers and low-income households to access the resale market.