Even as HDB resale prices have fallen for the third straight quarter, resale applications are rising. Recently released data shows that resale applications in Q3 2026 reached 7,645, the highest quarterly total since 2021. One way to see where this demand is directed is to look at which HDB towns and estates have seen the biggest price increases in the past year, despite overall HDB resale prices falling.
We based our analysis on HDB’s median resale prices for registered resale applications.
Read Also: Resale Flat Prices Have Fallen For A 3rd Consecutive Quarter: Which HDB Towns Declined The Most
3-Room Flats
| Town | 4Q 2025 | 1Q 2026 | 2Q 2026 | 3Q 2026 | % Change |
| Queenstown | $429,500 | $500,000 | $535,900 | $491,500 | 14.44% |
| Clementi | $420,000 | $435,000 | $438,900 | $440,000 | 4.76% |
| Bukit Merah | $419,400 | $445,400 | $430,000 | $431,500 | 2.89% |
| Yishun | $430,000 | $435,000 | $428,000 | $435,000 | 1.16% |
| Geylang | $385,000 | $388,000 | $358,000 | $387,500 | 0.65% |
Among 3-room flats, Queenstown was the clear outlier, with median resale prices rising 14.4% between 4Q 2025 and 3Q 2026, well ahead of all other towns. Where most towns saw prices decline over the same period, 3-room flats in Queenstown defied the trend due to the popularity of recently MOP estates like SkyParc @ Dawson.
Read Also: 2-Room Flat At Almost $700,000? Why SkyParc @ Dawson Resale Flats Are Breaking Sales Records
4-Room Flats
| Town | 4Q 2025 | 1Q 2026 | 2Q 2026 | 3Q 2026 | % Change |
| Toa Payoh | $930,000 | $1,000,000 | $1,019,000 | $1,023,500 | 10.05% |
| Geylang | $700,000 | $808,400 | $710,000 | $767,500 | 9.64% |
| Clementi | $840,000 | $781,000 | $888,900 | $915,000 | 8.93% |
| Queenstown | $998,000 | $1,038,000 | $1,035,000 | $1,065,000 | 6.71% |
| Bedok | $580,000 | $588,000 | $582,500 | $608,500 | 4.91% |
The 4-room HDB towns that defied the trend of falling resale prices were overwhelmingly in what used to be known as mature estates. Toa Payoh and Queenstown even saw median prices exceed the million-dollar mark by 1Q 2026, buoyed by recently MOP estates in the Bidadari and Dawson areas.
5-Room Flats
| Town | 4Q 2025 | 1Q 2026 | 2Q 2026 | 3Q 2026 | % Change |
| Jurong East | $668,000 | $715,500 | $721,500 | $718,000 | 7.49% |
| Punggol | $740,900 | $805,000 | $790,000 | $795,000 | 7.30% |
| Ang Mo Kio | $935,900 | $1,090,000 | * | $995,000 | 6.31% |
| Hougang | $795,000 | $778,500 | $720,500 | $809,000 | 1.76% |
| Pasir Ris | $729,400 | $735,000 | $730,000 | $735,000 | 0.77% |
The top five HDB towns where median resale prices for 5-room flats rose in the past year tell a very different story from the towns which saw the highest growth in 3-room and 4-room flats. This time, towns previously known as non-mature estates such as Jurong East and Punggol recorded the strongest gains between 4Q 2025 and 3Q 2026. Ang Mo Kio is the exceptional mature estate, mainly due to the recent MOP of flats in Ang Mo Kio Court. The relatively modest gains outside the top three also indicate that price growth for 5-room flats, just like for 3-room flats, is mostly driven by newer, recently MOP BTO flats.
Read Also: How Much More Expensive Are 5-Room Flats VS 4-Room Flats In The Same HDB Estates
