How Many Million-Dollar HDB Flats Were Sold in 2025? (2026 Guide)
Million-dollar HDB resale flats are still a minority, but they are no longer rare. Here is how many sold, where they were located, which flat types dominated, and how the trend changed through 2025.
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Million-Dollar Sales In 2025
1,591
Up 53.7% versus 2024, based on full-year data.
Share Of 2025 HDB Resales
6.34%
1,591 of 25,078 resale transactions.
Total Since 2012
4,024
From the first transaction in July 2012 through end-2025.
2026 YTD Partial
275
Shown as early 2026 context, not a full-year comparison.
2025
2025 was another record year
A total of 1,591 HDB resale flats changed hands at $1 million or more in 2025. That still made them a minority, but a much larger minority than even a year earlier.
Toa Payoh was comfortably the biggest 2025 hotspot with 302 million-dollar transactions, followed by Bukit Merah at 216 and Queenstown at 173. Kallang/Whampoa came next at 147, with Clementi rounding out the top five at 105.
One small detail worth noting: Kallang/Whampoa accounted for the only two 3-room million-dollar transactions in 2025.
| Town / estate | 3-room | 4-room | 5-room | Executive | Multi-gen | Total |
|---|---|---|---|---|---|---|
| ANG MO KIO | – | 23 | 45 | 12 | – | 80 |
| BEDOK | – | – | 11 | 28 | – | 39 |
| BISHAN | – | 7 | 52 | 38 | 1 | 98 |
| BUKIT BATOK | – | – | 4 | 4 | – | 8 |
| BUKIT MERAH | – | 110 | 106 | – | – | 216 |
| BUKIT PANJANG | – | – | – | 11 | – | 11 |
| BUKIT TIMAH | – | – | 14 | 9 | – | 23 |
| CENTRAL AREA | – | 38 | 17 | – | – | 55 |
| CLEMENTI | – | 52 | 43 | 10 | – | 105 |
| GEYLANG | – | 37 | 14 | 10 | – | 61 |
| HOUGANG | – | – | 7 | 38 | – | 45 |
| JURONG EAST | – | – | – | 16 | – | 16 |
| KALLANG/WHAMPOA | 2 | 86 | 51 | 8 | – | 147 |
| MARINE PARADE | – | – | 15 | – | – | 15 |
| PASIR RIS | – | – | – | 20 | – | 20 |
| PUNGGOL | – | – | 4 | – | – | 4 |
| QUEENSTOWN | – | 114 | 53 | 6 | – | 173 |
| SENGKANG | – | – | 10 | 1 | – | 11 |
| SERANGOON | – | – | 6 | 44 | – | 50 |
| TAMPINES | – | – | 11 | 56 | 1 | 68 |
| TOA PAYOH | – | 195 | 93 | 14 | – | 302 |
| WOODLANDS | – | – | – | 29 | – | 29 |
| YISHUN | – | – | – | 14 | 1 | 15 |
2024 And 2023
The surge was already visible before 2025
2025 was not an isolated spike. The market had already stepped up sharply in 2024, after another strong increase in 2023.
2024 breakdown
| Town / estate | 3-room | 4-room | 5-room | Executive | Multi-gen | Total |
|---|---|---|---|---|---|---|
| ANG MO KIO | – | 13 | 43 | 11 | – | 67 |
| BEDOK | – | – | 5 | 20 | – | 25 |
| BISHAN | – | 3 | 38 | 37 | – | 78 |
| BUKIT BATOK | – | – | 1 | 2 | – | 3 |
| BUKIT MERAH | – | 55 | 80 | – | – | 135 |
| BUKIT PANJANG | – | – | – | 9 | – | 9 |
| BUKIT TIMAH | – | – | 12 | 12 | – | 24 |
| CENTRAL AREA | – | 30 | 17 | – | – | 47 |
| CLEMENTI | – | 13 | 27 | 12 | – | 52 |
| GEYLANG | – | 23 | 18 | 9 | – | 50 |
| HOUGANG | – | – | 3 | 28 | – | 31 |
| JURONG EAST | – | – | – | 6 | – | 6 |
| KALLANG/WHAMPOA | 4 | 106 | 39 | 7 | – | 156 |
| MARINE PARADE | – | – | 5 | – | – | 5 |
| PASIR RIS | – | – | – | 5 | – | 5 |
| PUNGGOL | – | – | 3 | – | – | 3 |
| QUEENSTOWN | – | 65 | 40 | 4 | – | 109 |
| SENGKANG | – | – | 2 | 2 | – | 4 |
| SERANGOON | – | – | 3 | 26 | – | 29 |
| TAMPINES | – | – | – | 20 | 2 | 22 |
| TOA PAYOH | – | 73 | 56 | 15 | – | 144 |
| WOODLANDS | – | – | – | 22 | – | 22 |
| YISHUN | – | – | – | 7 | 2 | 9 |
2023 breakdown
| Town / estate | 3-room | 4-room | 5-room | Executive | Multi-gen | Total |
|---|---|---|---|---|---|---|
| ANG MO KIO | – | 3 | 21 | 7 | – | 31 |
| BEDOK | – | – | 3 | 6 | – | 9 |
| BISHAN | – | 8 | 6 | 31 | – | 45 |
| BUKIT BATOK | – | – | – | 4 | – | 4 |
| BUKIT MERAH | – | 19 | 43 | – | – | 62 |
| BUKIT PANJANG | – | – | – | 1 | – | 1 |
| BUKIT TIMAH | – | – | 6 | 8 | – | 14 |
| CENTRAL AREA | – | 36 | 11 | 1 | – | 48 |
| CLEMENTI | – | 2 | 22 | 7 | – | 31 |
| GEYLANG | – | – | 8 | 3 | – | 11 |
| HOUGANG | – | – | – | 5 | – | 5 |
| JURONG EAST | – | – | – | 6 | – | 6 |
| KALLANG/WHAMPOA | 3 | 21 | 23 | 7 | – | 54 |
| MARINE PARADE | – | – | 5 | – | – | 5 |
| PASIR RIS | – | – | – | 2 | – | 2 |
| PUNGGOL | – | – | 2 | – | – | 2 |
| QUEENSTOWN | – | 23 | 18 | 6 | – | 47 |
| SERANGOON | – | – | – | 15 | – | 15 |
| TAMPINES | – | – | 1 | 1 | – | 2 |
| TOA PAYOH | – | 12 | 32 | 12 | – | 56 |
| WOODLANDS | – | – | – | 14 | – | 14 |
| YISHUN | – | – | – | 3 | 1 | 4 |
Over Time
The curve steepened after 2021
The first million-dollar HDB resale transaction was in July 2012. For years the numbers stayed low. Then the market accelerated hard from 2021 onward.
The series went from double digits in 2015 and 2016, to 46 in 2017, 82 in 2020, 259 in 2021, 369 in 2022, 468 in 2023, and then 1,035 in 2024. By 2025, the annual count had climbed to 1,591.
2026 YTD context
Early 2026 already shows 146 million-dollar sales in January, 122 in February, and 7 in March so far. Because March is incomplete, the guide does not compare 2026 against full prior years yet.
| Year | Million-dollar HDB transactions |
|---|---|
| 2012 | 2 |
| 2013 | 3 |
| 2014 | 2 |
| 2015 | 12 |
| 2016 | 20 |
| 2017 | 46 |
| 2018 | 71 |
| 2019 | 64 |
| 2020 | 82 |
| 2021 | 259 |
| 2022 | 369 |
| 2023 | 468 |
| 2024 | 1,035 |
| 2025 | 1,591 |
| 2026 month | Million-dollar transactions |
|---|---|
| 2026-01 | 146 |
| 2026-02 | 122 |
| 2026-03 | 7 |
Most Expensive
The most expensive 2025 sale was in Queenstown
The top 2025 transaction was a $1,658,888 Queenstown sale in June 2025. A total of five 2025 transactions cleared the S$1.6 million mark.
| Month | Resale price | Town | Flat type | Storey range | Block | Street | Area (sqm) | Flat model | Lease |
|---|---|---|---|---|---|---|---|---|---|
| 2025-06 | $1,658,888 | QUEENSTOWN | 5 ROOM | 22 TO 24 | 92 | DAWSON RD | 122.00 | Premium Apartment Loft | 89 years 11 months |
| 2025-11 | $1,632,000 | BISHAN | 5 ROOM | 34 TO 36 | 275A | BISHAN ST 24 | 120.00 | DBSS | 84 years 10 months |
| 2025-11 | $1,600,000 | BISHAN | EXECUTIVE | 22 TO 24 | 135 | BISHAN ST 12 | 163.00 | Maisonette | 60 years 08 months |
| 2025-08 | $1,600,000 | CENTRAL AREA | 5 ROOM | 49 TO 51 | 1G | CANTONMENT RD | 105.00 | Type S2 | 84 years 05 months |
| 2025-01 | $1,600,000 | TOA PAYOH | 5 ROOM | 19 TO 21 | 138A | LOR 1A TOA PAYOH | 117.00 | DBSS | 86 years 06 months |
Locations
Million-dollar HDB sales are still concentrated in a limited set of towns
Through end-2025, the biggest cumulative clusters were Toa Payoh, Bukit Merah, Queenstown, Kallang/Whampoa and Bishan.
At end-2025, Toa Payoh led with 608 million-dollar transactions, followed by Bukit Merah at 507, Queenstown at 448, Kallang/Whampoa at 429, and Bishan at 369.
Among towns with resale activity in 2025, three still had zero million-dollar transactions through end-2025: CHOA CHU KANG, JURONG WEST, SEMBAWANG.
| Town / estate | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TOA PAYOH | 302 | 144 | 56 | 45 | 31 | 7 | 8 | 9 | 6 | – | – | – | – | – | 608 |
| BUKIT MERAH | 216 | 135 | 62 | 45 | 24 | 13 | 5 | 7 | – | – | – | – | – | – | 507 |
| QUEENSTOWN | 173 | 109 | 47 | 38 | 38 | 16 | 9 | 12 | 5 | – | – | – | – | 1 | 448 |
| KALLANG/WHAMPOA | 147 | 156 | 54 | 26 | 19 | 3 | 5 | 8 | 3 | 6 | 1 | – | 1 | – | 429 |
| BISHAN | 98 | 78 | 45 | 50 | 37 | 14 | 11 | 12 | 17 | 2 | 1 | 2 | 1 | 1 | 369 |
| CENTRAL AREA | 55 | 47 | 48 | 50 | 75 | 22 | 22 | 18 | 10 | 11 | 9 | – | – | – | 367 |
| CLEMENTI | 105 | 52 | 31 | 21 | 10 | 4 | 1 | 1 | 2 | 1 | – | – | – | – | 228 |
| ANG MO KIO | 80 | 67 | 31 | 30 | 5 | 2 | – | – | – | – | – | – | – | – | 215 |
| GEYLANG | 61 | 50 | 11 | 7 | – | 1 | – | – | – | – | – | – | – | – | 130 |
| SERANGOON | 50 | 29 | 15 | 15 | 7 | – | – | – | 1 | – | – | – | – | – | 117 |
| BUKIT TIMAH | 23 | 24 | 14 | 10 | 13 | – | 3 | 3 | 2 | – | 1 | – | 1 | – | 94 |
| TAMPINES | 68 | 22 | 2 | 2 | – | – | – | – | – | – | – | – | – | – | 94 |
| HOUGANG | 45 | 31 | 5 | 5 | – | – | – | 1 | – | – | – | – | – | – | 87 |
| BEDOK | 39 | 25 | 9 | 3 | – | – | – | – | – | – | – | – | – | – | 76 |
| WOODLANDS | 29 | 22 | 14 | 9 | – | – | – | – | – | – | – | – | – | – | 74 |
| YISHUN | 15 | 9 | 4 | 5 | – | – | – | – | – | – | – | – | – | – | 33 |
| JURONG EAST | 16 | 6 | 6 | 1 | – | – | – | – | – | – | – | – | – | – | 29 |
| PASIR RIS | 20 | 5 | 2 | 2 | – | – | – | – | – | – | – | – | – | – | 29 |
| MARINE PARADE | 15 | 5 | 5 | 3 | – | – | – | – | – | – | – | – | – | – | 28 |
| BUKIT PANJANG | 11 | 9 | 1 | – | – | – | – | – | – | – | – | – | – | – | 21 |
| BUKIT BATOK | 8 | 3 | 4 | 1 | – | – | – | – | – | – | – | – | – | – | 16 |
| SENGKANG | 11 | 4 | – | – | – | – | – | – | – | – | – | – | – | – | 15 |
| PUNGGOL | 4 | 3 | 2 | 1 | – | – | – | – | – | – | – | – | – | – | 10 |
| CHOA CHU KANG | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 |
| JURONG WEST | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 |
| SEMBAWANG | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 |
Flat Types
Five-room flats still dominate, but 4-room counts now matter a lot
The all-time series still skews toward 5-room and executive flats, but 4-room million-dollar transactions have become a major part of the story in recent years.
In 2025 alone, there were 662 four-room sales, 556 five-room sales, 368 executive sales, 3 multi-generation sales, and 2 three-room sales. That is one of the clearest signs that million-dollar pricing is no longer confined to only the largest flat categories.
The draft treated the small residual category as “others / terrace”, but those residuals are actually 3-room and multi-generation transactions.
| Year | 3-room | 4-room | 5-room | Executive | Multi-gen | Total |
|---|---|---|---|---|---|---|
| 2017 | 1 | – | 37 | 8 | – | 46 |
| 2018 | 1 | 9 | 47 | 14 | – | 71 |
| 2019 | – | 10 | 44 | 10 | – | 64 |
| 2020 | 1 | 14 | 55 | 12 | – | 82 |
| 2021 | 5 | 44 | 160 | 50 | – | 259 |
| 2022 | – | 38 | 221 | 109 | 1 | 369 |
| 2023 | 3 | 124 | 201 | 139 | 1 | 468 |
| 2024 | 4 | 381 | 392 | 254 | 4 | 1,035 |
| 2025 | 2 | 662 | 556 | 368 | 3 | 1,591 |
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Sources
This guide uses HDB resale data together with official government sources.
The headline comparisons in this guide use full-year numbers through 2025. A small 2026 year-to-date note is shown separately.
- • A million-dollar flat in this guide means an HDB resale transaction priced at S$1 million or more.
- • The main comparisons use full-year results through 2025.
- • The 2026 note is year-to-date only.
- • Flat types follow the usual HDB categories used in the resale data.
- • Town totals stop at end-2025.