Housing and Development Board resale registrations reached 2,245 flats in September 2026, about 3.3 percent higher than in September 2025, according to monthly transaction data compiled by property analysts.
Volume trend through 2026
Industry trackers describe a choppy but elevated year for resale activity. Monthly counts in 2026 have swung between roughly 1,338 registrations in October 2025 and a peak near 2,649 in July 2026, with September's print landing slightly above the prior month.
Volume alone does not settle the affordability debate. Analysts at Stacked Homes noted that only about 730 of 10,814 four-room resale transactions in the 12 months to September 2026 sold below S$500,000—roughly 7 percent of the cohort. In the comparable window ending September 2021, a majority of four-room deals still sat below that threshold.
Price level many buyers watch
Stacked Homes pegged the median four-room resale price near S$630,000 in September 2026, up from about S$458,000 five years earlier. The shift matters for households sizing up grants, loan tenures and the cash over valuation they must bring to closing.
Banks have kept mortgage rates in focus as global yields fluctuate. United Overseas Bank economists told clients this week that growth concerns could cap longer-dated yields, but home-loan repricing still flows through to monthly instalments on existing HDB loans pegged off CPF ordinary-account rates.
Who is transacting
Resale demand this year has mixed upgraders, rightsizers and buyers who missed Build-to-Order ballots. Agents report more viewings in mature estates where lease decay is shorter, even when headline prices look steep relative to 2021.
September's year-on-year rise suggests the market did not freeze despite transboundary haze and tighter scrutiny on short-term rental listings. Cooling measures introduced in prior years still cap loan amounts and stamp duties for multiple-property owners.
Supply from other channels
Resale counts sit alongside BTO launches and the new Plus and Prime categories HDB uses to tier subsidies. When BTO supply is thin in popular towns, resale volume often absorbs pent-up demand, which can keep prices firm even if registrations do not break records.
Developers' collective sales activity also feeds sentiment. A separate S$80.68 million en bloc deal on Lavender Street this week reminded investors that commercial shophouse sites still attract capital, though that segment does not directly add HDB supply.
What agents expect next
Most brokerages do not publish official forecasts for HDB resales—the board releases registration statistics on a lag. Watchers instead track whether four-room deals below S$500,000 reappear in outer towns or whether median prices flatten as more BTO projects reach key collection dates.
For now, September's 2,245 figure signals a market still clearing stock at higher price levels than before the pandemic-era surge, with volume holding above year-ago comparisons even as haze and macro headlines compete for attention.