This is a dated update. For the full picture, read our HDB Resale Process 2026: How to Sell Your Flat, Step by Step, which we keep current.
At a glance
- Million-dollar flats, Sep 2026
- 209 (9.3% of resale deals), up from 201 in August
- Top towns
- Toa Payoh 33, Queenstown 28, Bedok 20
- Highest price
- S$1.72m, 5-room at The Pinnacle@Duxton
- 3Q 2026 total
- 597 million-dollar flats, 353 of them 5-room or bigger
- Overall prices
- HDB resale index down 0.2% in 3Q 2026, third straight quarterly fall
What the data showed
209 HDB resale flats sold for S$1 million or more in September 2026, the most in any month so far. The figures come from SRX and 99.co flash data reported on 7 October. The previous record was 201 in August, and a year earlier, in September 2025, the count was 172.
Million-dollar deals made up 9.3% of all resale transactions in September, up from 8% in August. The month’s top price was S$1.72 million for a 5-room flat at The Pinnacle@Duxton. In non-mature towns, the highest was S$1.292 million for an executive flat on Hougang Street 21.
| Month | Million-dollar flats | Share of resale deals | Top three towns |
|---|---|---|---|
| September 2025 | 172 | 7.9% | Toa Payoh 37, Queenstown 18, Bukit Merah 18 |
| August 2026 | 201 | 8% | Toa Payoh 32, Queenstown 26, Bukit Merah 21 |
| September 2026 | 209 | 9.3% | Toa Payoh 33, Queenstown 28, Bedok 20 |
Which towns and flat types
Toa Payoh, Queenstown and Bedok accounted for 81 of the 209 deals. Bedok’s appearance in the top three is new: in August the third spot went to Bukit Merah. The other 128 sales were spread across 19 towns, from Kallang/Whampoa and Bishan to Punggol, Sengkang, Woodlands, Yishun and Bukit Batok.
Most of these are big flats. Over the whole third quarter there were 597 million-dollar resale deals, and 353 of them were 5-room or larger, up from 277 in the second quarter. Huttons’ figures put the share of million-dollar deals in non-mature estates at 11.4%, the highest so far. Our town pages for Toa Payoh and Queenstown break down recent prices by flat type.
What is already true about the wider market
The million-dollar count is rising while the market as a whole is flat to slightly down.
| Measure | Latest reading |
|---|---|
| HDB resale price index, 3Q 2026 flash | Down 0.2% on the quarter (third fall in a row, after down 0.3% in 2Q and down 0.1% in 1Q) |
| SRX overall resale prices, September 2026 | Up 0.6% on August, down 0.4% on September 2025 |
| Resale volume, September 2026 | 2,248 deals, down 10.9% on August, up 2.8% on a year earlier |
| Resale volume, 3Q 2026 | 7,528 deals, up 17.7% on the quarter |
Within September, 5-room prices rose 1.7% on the month, while 3-room, 4-room and executive prices eased. Mature estates rose 1.4% on the month and non-mature estates 0.1%.
Why it is happening
Analysts point to buyers coming down from private property. In late July 2026 HDB removed the 15-month wait-out period for private homeowners buying a non-subsidised resale flat without an HDB loan. Agents reported more enquiries from these buyers in the third quarter, and 99.co’s Luqman Hakim said right-sizers “may have substantial sale proceeds”, which gives them room to pay for large flats in good locations.
On the other side, a higher BTO income ceiling (S$16,000 for families from August 2026) may keep some buyers waiting for the November BTO exercise, and more flats reaching their MOP will add supply. Hakim’s view is that prices “could remain relatively stable, with room for modest gains”.
What it means if you are selling
If you own a 5-room, executive or jumbo flat in a mature or central town, this is a good quarter to get a valuation. The buyer pool for large flats has widened with the return of private downsizers, and recent deals give your agent and the bank’s valuer strong comparables.
If you own a 3-room or 4-room flat in a non-mature town, the record does not apply to you. Prices for those flat types eased in September, and supply from newly MOP flats will keep growing into 2027 and 2028. Price to recent transactions on your street, not to headlines. Our HDB resale process guide covers each step, and if you are selling to move up, read how to upgrade from HDB to a condo before you set a price.
We checked these figures on 12 October 2026 and will update this page when HDB publishes its final 3Q numbers.
Common questions
How many million-dollar HDB flats were sold in September 2026?
209, according to SRX and 99.co flash data reported on 7 October 2026. That beat August's record of 201 and was up from 172 in September 2025.
Which towns have the most million-dollar HDB flats?
In September 2026 Toa Payoh had 33, Queenstown 28 and Bedok 20. Bukit Merah, which had 21 in August, fell out of the top three. The other 128 deals were spread across 19 towns, including non-mature towns such as Punggol, Sengkang, Woodlands and Yishun.
Are HDB resale prices still rising?
Not overall. HDB's flash estimate shows the resale price index fell 0.2% in 3Q 2026, after falls of 0.3% in 2Q and 0.1% in 1Q. SRX's monthly index rose 0.6% in September but was 0.4% lower than a year earlier.
Why are more flats crossing S$1 million if prices are flat?
The record is coming from a narrow slice of the market: large flats in central and mature towns. Analysts link part of it to private homeowners who are right-sizing, after the 15-month wait-out period for them was removed on 28 July 2026.
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Sources
Facts on this page were checked against these sources on 12 October 2026.
- Malay Mail: Singapore's HDB market splits, record S$1m deals but slower overall sales (7 Oct 2026)
- SRX: New all-time high of 201 million-dollar flats sold in August 2026
- SRX: 172 million-dollar flats sold in September 2025
- EdgeProp: HDB resale prices dip 0.2% q-o-q in 3Q2026 (HDB flash estimates)
- COS.sg: HDB resale prices dip for third straight quarter
- EdgeProp: Government removes 15-month wait-out period (28 July 2026)
Read next
GuideHDB Resale Process 2026: How to Sell Your Flat, Step by Step
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Area guideToa Payoh HDB Resale Prices: What Flats Sell For and Why
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GuideUpgrading From HDB to Condo or EC in 2026: Order, Loans, ABSD and a Worked Example
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