HDB in 2026: Resale prices of 4R and 5R apartments could rise by between S$16,000 and S$55,000

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After relentless inflation following the pandemic, apartment prices are showing signs of cooling as we head into 2026. Following the 5.5% added between Q3 of 2024 and Q3 of 2025, according to the Resale Price Index readings, they should slow down next year.

However, at 3 to 4%, as projected by Propnex in its 2026 market outlook report, they are still going to add tens of thousands of dollars to the cost of a resale purchase (or into your pockets, if you’re the seller)—especially for the most popular 4R and 5R types, which comprise about 2/3 of the HDB housing stock.

According to figures published by Dollars and Sense two weeks ago, the average 2025 price of 5-room flats was S$781,317, while the average price of 4-room flats reached S$672,310 (based on current resale statistics).

Using these figures as our base, we can calculate that the average resale price for a 4-room flat in 2026 could be about S$20,000+ higher than in 2025, and S$30,000+ in the case of a 5-room flat.

However, what you end up having to pay will largely depend on your preferred area—and the differences can be quite significant (please note that the table is sorted by average 5R prices):

With averages already exceeding S$1 million in Central Singapore, prospective buyers could be hit with a bill higher by between S$30,000 and S$55,000, though those figures drop by about 50% (together with prices) in more remote towns in the North and West.

S$1 million transactions are going to become more common, as Queenstown is on track to become another area where average prices for both 4R and 5R exceed the figure, while Marine Parade is on the cusp of joining the club of S$1M+ 5-room flats.

Fortunately, the good news is that for the first time since before the pandemic, incomes should at least match if not outpace housing inflation, with forecasts putting the salary growth in Singapore somewhere between 3 and 6% in 2026, according to several surveys.

That’s why, despite the still eye-watering five-figure sums you may have to pay extra in the resale market, the real price growth relative to your salary is about to grind to a halt.

Featured Image Credit: Danist Soh/ Unsplash