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 increased by 0.3% in May 2026. HDB resale prices in Mature Estates and Non-Mature Estates increased by 0.4% and 0.2%, respectively. By room type, prices for 3-room flats decreased by 0.3%, while 4-room, 5-room, and Executive flats increased by 0.2%, 0.9%, and 1%, respectively.
Year-on-year, the overall price increased by 0.2% compared to May 2025.
Year-on-year, resale prices for 3-room and Executive flats fell by 1.0% and 1.9% respectively. Meanwhile, prices for 4-room and 5-room flats rose by 0.4% and 1.0% over the same period.
Prices in Mature Estates and Non-Mature Estates remained stable compared to May 2025.
A total of 2,139 HDB resale flats were transacted in May 2026, representing a 10.1% increase from April 2026.
Year-on-year, resale volume in May 2026 was 6.3% lower.
Breaking it down by room type, 24.6% of HDB resale volume in May 2026 came from 3-room flats, 46% from 4-room flats, 23.4% from 5-room flats, and 6% from Executive flats.
Breaking it down by estate, 55.1% of the resale volume in May 2026 came from Non-Mature Estates. The remaining 44.9% were from Mature Estates.
The highest transacted price for a resale flat for the month was S$1,630,000 for a 5-room flat at The Pinnacle@Duxton.
In Non-Mature Estates, the highest transacted price was S$1,232,888 for an Executive flat in Hougang Street 21.
In May 2026, 166 HDB resale flats were transacted for at least S$1,000,000, an increase from 138 units recorded in April 2026.
The number of million-dollar flats sold* comprised 7.8% of the total resale volume for the month.
Bukit Merah recorded 22 million-dollar flats, followed by Toa Payoh and Queenstown, with 21 units each.
The remaining million-dollar flat transactions originated from Clementi, Ang Mo Kio, Bedok, Kallang/Whampoa, Bishan, Tampines, Central Area, Hougang, Geylang, Punggol, Woodlands, Jurong East, Pasir Ris, Marine Parade, Yishun, Sengkang, and Bukit Timah.
*Sold units are based on the resale registration date. Registered resale applications are generally representative of completed resale transactions.
In April 2026, condo resale prices in CCR, and OCR decreased by 2.6% and 0.1%, respectively, while RCR increased by 0.9%.
According to the SRX Price Index for Condo Resale:
Month-on-month, overall prices decreased by 0.4%.
Year-on-year, overall prices increased by 2.7% compared to April 2025.
Year-on-year, CCR, RCR, and OCR experienced price increases of 0.3%, 3.7%, and 3.5%, respectively.
An estimated 1,125 units were resold in April 2026, an increase of 20.9% from the 931 units resold in March 2026.
Resale volumes were 6.8% lower than in April 2025 and 9.5% lower compared to the 5-year average for April.
By region, in April 2026, 48.5% of transactions were from OCR, 32.2% from RCR, and 19.4% from CCR.
The percentage of sub-sale transactions among the total secondary sale transactions (i.e., Resale + Sub-Sale) was 4.3% in April 2026, a decrease from March 2026.
Sub-sale transactions refer to secondary sale transactions occurring before the project is completed.
The highest transacted price for a resale unit in April was S$12,800,000 for a unit at Sage.
In RCR, the highest transacted price was S$6,800,000 for a resale unit at The Sovereign.
In OCR, the highest transaction was for a unit at Ocean Park, which was resold at S$4,350,000.
The overall median capital gain for resale condos was S$408,000 in April 2026, an increase of S$8,000 from March 2026.
District 10 (Tanglin / Holland / Bukit Timah) posted the highest median capital gain at S$806,000. District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median capital gain at -S$110,000.
The overall median unlevered return for resale condos was 29.2% in April 2026.
District 20 (Ang Mo Kio / Bishan / Thomson) posted the highest median unlevered return at 52.8%. District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median unlevered return at -6.4%.
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.
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