Resale flat prices in Singapore have been on the rise over the past six years, as demonstrated by the steep slope of HDB’s Resale Price Index. The HDB Resale Price Index tracks the overall price movement of the public residential market.
Source: HDB
However, this rise has shown several signs of slowing, most recently since the end of 2024. According to the latest data from HDB, resale prices for HDB flats not only slowed to a halt at the end of 2025, but showed a slight decrease, the first drop since 2019.
Source: HDB
With that in mind, we looked at the median prices across all the HDB estates and discovered seven estates where median prices dropped in 2025.
#1 Geylang
| Geylang | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $379,000 | $825,000 | – |
| 2nd Quarter | $375,000 | $700,000 | – |
| 3rd Quarter | $368,000 | $650,000 | $780,000 |
| 4th Quarter | $385,000 | $700,000 | $905,000 |
Median resale prices for 4-Room flats in Geylang declined by over 15% between the start of 2025 and the end of the year. This contrasts with the median price of 3-Room and 5-Room flats, which rose sharply at the end of the year.
#2 Queenstown
| Queenstown | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $508,000 | $989,000 | – |
| 2nd Quarter | $508,000 | $1,000,000 | – |
| 3rd Quarter | $481,000 | $988,000 | – |
| 4th Quarter | $429,500 | $998,000 | – |
Median prices for 3-Room flats in Queenstown tumbled by over 15% from the start of 2025 till the end. During the same period, the median price of 4-Room flats increased to $1 million and remained around that figure. There were insufficient transactions of 5-room flats each quarter to provide a meaningful median price.
#3 Woodlands
| Woodlands | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $441,000 | $552,000 | $658,300 |
| 2nd Quarter | $440,000 | $560,000 | $673,500 |
| 3rd Quarter | $468,900 | $568,000 | $677,500 |
| 4th Quarter | $418,000 | $555,000 | $668,000 |
Median prices in Woodlands in 2025 for 3-Room flats dropped by over 5%, while prices for 4-Room and 5-Room flats stayed largely stable during the same period.
#4 Bedok
| Bedok | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $430,000 | $588,000 | $778,000 |
| 2nd Quarter | $430,000 | $599,000 | $730,000 |
| 3rd Quarter | $427,000 | $589,000 | $800,900 |
| 4th Quarter | $425,000 | $580,000 | $750,000 |
Median resale prices for Bedok in 2025 ended between 1% to 4% lower than at the start of the year across the three most popular flat types. 3-Room flats dropped by about 1.16%, 4-Room flats by 1.36% and 5-Room flats by about 3.6%.
#5 Bukit Merah
| Bukit Merah | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $430,000 | $925,000 | – |
| 2nd Quarter | $446,500 | $935,000 | – |
| 3rd Quarter | $444,000 | $930,000 | – |
| 4th Quarter | $419,400 | $922,000 | – |
Median resale prices for Bukit Merah in 2025 dropped by as much as 2.47% for 3-Room flats, and 0.32% for 4-Room flats. There were insufficient transactions of 5-room flats each quarter to provide a meaningful median price.
#6 Toa Payoh
| Toa Payoh | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $398,000 | $948,000 | – |
| 2nd Quarter | $410,000 | $1,004,400 | $985,000 |
| 3rd Quarter | $398,000 | $986,000 | – |
| 4th Quarter | $399,000 | $930,000 | – |
Median prices for 4-Room flats in Toa Payoh rose past the $1 million mark in 2025 but ultimately ended almost 2% lower than the start of the year. Median prices for 3-Room flats remained largely unchanged during the same period.
#7 Bukit Batok
| Bukit Batok | 3-Room | 4-Room | 5-Room |
| 1st Quarter | $413,000 | $595,000 | $780,000 |
| 2nd Quarter | $420,900 | $630,000 | $825,000 |
| 3rd Quarter | $423,400 | $634,400 | $810,000 |
| 4th Quarter | $411,000 | $634,400 | $814,400 |
Median resale prices for Bukit Batok dropped by about 0.48% for 3-Room flats in 2025, though they increased between 4% and 7% for 4- and 5-Room flats during the same period.
