Announcement: Starting from January 2023 (for December 2022 reports onwards), 99-SRX will be changing the schedule for the following reports:
As government agencies such as HDB and URA have improved in its transparency and timelines in making property transactions public, 99-SRX will also follow their lead in using only publicly-available transactions for our reports. This also ensures transparency and reproducibility by parties seeking to clarify 99-SRX's indexes.
Hence, there will also be differences in all reports index values due to a shift to official data sources:
HDB Resale
i. Agency transactions will no longer be used in Price and Index calculations starting from January 2023.
NLP Resale
i. Non-caveated transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP Resale report. Only caveated transactions will be used.
Rental
i. Agency transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP and HDB Rental report.
ii. Base index shift from January 2009 to January 2015.
These changes do not affect the broad price trends observed in earlier reports. If you wish to retrieve the previous indexes, send an email to [email protected]
CCR = Core Central Region
RCR = Rest of Central Region
OCR = Outside Central Region
HDB resale prices slightly increased by 0.1% in August 2026. HDB resale prices in Mature Estates increased by 0.7%, while Non-Mature Estates remained stable. By room type, prices for 3-room flats decreased by 0.3%, while prices for 4-room and Executive flats increased by 0.2% and 2.8%, respectively. Prices for 5-room flats remained stable.
Year-on-year, overall prices decreased by 0.5% compared with August 2025.
Year-on-year, resale prices for 3-room, 4-room, and 5-room flats decreased by 1.6%, 0.6%, and 0.6%, respectively, while prices for Executive flats increased by 1.7%.
Prices in Mature Estates and Non-Mature Estates decreased by 0.3% and 0.8%, respectively, compared with August 2025.
A total of 2,524 HDB resale flats were transacted in August 2026, representing a 5.1% decrease from July 2026.
Year-on-year, resale volume in August 2026 was 14.1% higher.
Breaking it down by room type, 22.7% of the HDB resale volume in August 2026 came from 3-room flats, 47% from 4-room flats, 23.4% from 5-room flats, and 6.9% from Executive flats.
Breaking it down by estate, 56.7% of the resale volume in August 2026 came from Non-Mature Estates. The remaining 43.3% were from Mature Estates.
The highest transacted price for a resale flat during the month was S$1,688,888 for a 5-room flat at Tiong Bahru View.
In Non-Mature Estates, the highest transacted price was S$1,250,000 for an Executive flat at Woodlands Street 81.
In August 2026, 201 HDB resale flats were transacted for at least S$1,000,000, an increase from the 187 units recorded in July 2026.
The number of million-dollar flats sold* comprised 8% of the total resale volume for the month.
Toa Payoh recorded 32 million-dollar flat transactions, followed by Queenstown with 26 and Bukit Merah with 21.
The remaining million-dollar flat transactions were Bishan, Hougang, Kallang/Whampoa, Bedok, Tampines, Geylang, Pasir Ris, Clementi, Central Area, Ang Mo Kio, Woodlands, Serangoon, Jurong East, Marine Parade, Sengkang, Bukit Timah, Bukit Panjang, and Bukit Batok.
*Sold units are based on the resale registration date. Registered resale applications are generally representative of completed resale transactions.
In July 2026, condo resale prices in the CCR increased by 2.6%, while prices in the RCR and OCR decreased by 1.1% and 0.9%, respectively.
According to the SRX Condo Resale Price Index:
Month-on-month, overall prices decreased by 0.3%.
Year-on-year, overall prices increased by 2.7% compared with July 2025.
Year-on-year, prices in CCR, RCR and OCR increased by 6.2%, 2.8% and 2.6%, respectively.
An estimated 1,075 units were resold in July 2026, an increase of 7.1% from the 1,003 units resold in June 2026.
Resale volume was 0.6% lower than in July 2025 and 4.1% below the five-year average for July.
By region, OCR accounted for 50.8% of transactions in July 2026, followed by RCR at 31.6% and CCR at 17.6%.
The percentage of sub-sale transactions among the total secondary sale transactions (i.e., Resale + Sub-Sale) was 3.5% in July 2026, a decrease from June 2026.
Sub-sale transactions refer to secondary sale transactions occurring before the project is completed.
The highest transacted price for a resale unit in July was S$14,300,000 for a unit at Leedon Residence.
In RCR, the highest transacted price was S$10,000,000 for a resale unit at The View @ Meyer.
In OCR, the highest transaction was for a unit at St Patrick's Residences, which was resold for S$4,100,000.
The overall median capital gain for resale condos was S$381,000 in July 2026, a decrease of S$19,000 from June 2026.
District 10 (Tanglin / Holland / Bukit Timah) posted the highest median capital gain at S$920,000. District 9 (Orchard / River Valley) posted the lowest median capital gain at S$191,000.
The overall median unlevered return for resale condos was 31.1% in July 2026.
District 21 (Clementi Park / Upper Bukit Timah) posted the highest median unlevered return at 49.9%. District 9 (Orchard / River Valley) posted the lowest median unlevered return at 10.6%.
Capital gains and returns are calculated by comparing each current transacted price with the previous transacted price of the same unit. Districts with fewer than 10 matching transactions are excluded from the ranking.
A. Condo Rental Market
In July 2026, overall condo rental prices increased by 1.6% month-on-month. Prices in CCR, RCR, and OCR increased by 0.8%, 1.1%, and 2.2%, respectively, compared to June 2026.
Year-on-year, overall rental prices increased by 2.5% compared to July 2025.
Year-on-year, rental prices in CCR, RCR, and OCR increased by 2.6%, 2.4%, and 2.2%, respectively.
Rental volumes increased by 38.1% month-on-month. An estimated 9,627 units were rented in July 2026, compared to 6,973 in June 2026.
Year-on-year, rental volumes were 10.6% higher.
Rental volumes were 19.5% higher than the 5-year average for July.
Breaking it down by region for July 2026, 39.2% of the total rental volume was from OCR, 33.2% from RCR, and 27.7% from CCR.
B. HDB Rental Market
In July 2026, HDB rental prices increased by 1.7% compared to June 2026. Rental prices in Mature and Non-Mature estates increased by 1.2% and 2.2%, respectively. Rental prices for 3-room, 4-room, 5-room, and Executive flats increased by 0.8%, 2.1%, 1.5%, and 4%, respectively.
Overall rental prices increased by 1.5% compared to July 2025.
Year-on-year, rental prices in both Mature and Non-Mature estates increased by 1.3% and 1.8%, respectively.
Year-on-year, rental prices for 3-room, 4-room, 5-room, and Executive flats increased by 1.2%, 1.2%, 2%, and 2.9%, respectively.
Rental volumes increased by 13.6% month-on-month. An estimated 3,097 HDB flats were rented in July 2026, compared to 2,727 in June 2026.
Year-on-year, rental volumes decreased by 2.6% compared to July 2025.
Rental volumes were 1.5% lower than the 5-year average for July.
In July 2026, 4-room flats made up the largest share of rental volume at 37.5%, followed by 3-room flats at 31.8%, 5-room flats at 24.4%, and Executive flats at 6.3%.
| Date | Value | % Change |
|---|
On the Friday of the first full work week for each month, SRX releases the Singapore Real Estate Exchange Property Index (SPI) as a public service to the community.
SPI differs from other Singapore indices in four distinct ways:
For more information, please refer to the SPI White Paper.
The information contained in this document is the proprietary and exclusive property of StreeSine Singapore Pte. Ltd. (""SSPL"") except as otherwise indicated. The information contained herein is for informational purposes only and is not intended to replace any professional advice. The views expressed are entirely those of the authors.
Whilst the information is intended to be accurate and current, SSPL is not responsible for any errors or omissions in this document. SSPL may vary, withdraw or amend any information presented herein at any time without notice.
To the fullest extent permitted by law, in no event shall StreetSine, its officers and employees, affiliates, subsidiaries, successors and assigns be liable for any damages or costs, including without limitation any indirect, consequential, special, incidental, or punitive damages arising out of, based on, or resulting from your reliance on or use of the information herein.
No part of this document may be reproduced except as authorised by written permission. The copyright and the foregoing restriction extend to reproduction in all media.
©StreetSine Singapore Pte. Ltd.. All rights reserved.
Singapore Real Estate Exchange Property Index, SPI, Singapore Real Estate Exchange and SRX are trade names of SSPL.