HDB Resale Atlas
30 years of HDB resale data
What happens when you track every HDB resale from 1990 to 2026-01? This is an attempt to find patterns in pricing, location premiums, and how policy changes actually affected the market.
Price growth since 1990
9.2x
About 6.6% per year (CAGR).
Peak activity year
1999
57,782 recorded resales.
Prices over time
Both charts show the same thing: prices go up. Per-square-meter prices climb faster than you'd expect, while transaction volume swings wildly depending on market conditions and policy changes.
Average price per sqm
Monthly average, SGD per sqm
Transaction volume
Monthly resales
Accounting for inflation
The gap between these two lines is inflation eating away at your money. Real prices (adjusted for CPI) still climb, just not as dramatically as the nominal numbers suggest.
Average price per sqm
Nominal vs CPI-adjusted
How spread out are prices?
Not everyone pays the median. This shows the middle 50% range each year—basically, how much variance there is in what people actually pay per square meter.
Annual price distribution
Middle 50% band with median
Which towns are expensive?
Queenstown, Bukit Merah, and Central Area top the list. Not surprising—they're central, mature, and close to everything. The more interesting question is which towns punched above their weight and which ones lagged behind.
Top towns by price per sqm
Average across the full dataset
Flat types
Bigger flats cost more in absolute terms (obvious), but the per-square-meter price is surprisingly similar across flat types. A 5-room isn't much more expensive per sqm than a 3-room.
Average resale price by flat type
All years combined
Average price per sqm by flat type
All years combined
Flat models
HDB has built dozens of flat models over the years. Some are clearly more desirable than others—whether because of design, layout, or just when they were built.
Top flat models by price per sqm
Average across all transactions
Lease age and floor level
Older leases are cheaper (duh), but the curve is steep. As for floors, higher is better, and the premium starts kicking in around the 10th floor.
Lease age vs price per sqm
5-year lease age buckets
Storey band premium
Average price per sqm by storey range
Year-on-year changes
Sometimes prices go up while volume drops, or vice versa. These divergences usually signal something—cooling measures, policy shifts, or market uncertainty.
YoY price-per-sqm change
Annual percentage change
YoY transaction change
Annual percentage change
Divergence years
Price and volume moving opposite directions
Being near an MRT matters
The closer you are to an MRT station, the more expensive your flat. This is Singapore—nobody wants to walk 15 minutes in the heat.
Price by distance to MRT
Closer = more expensive
Run the geocoding pipeline to enable MRT distance insights. Coverage: 0%.
Which towns appreciated most?
Some towns went from cheap to expensive over 30 years. These are the ones with the biggest price jumps from the 1990s to the 2020s.
Top gainers
Price per sqm growth from 1990s → 2020s
Policy changes
The Singapore government tweaks HDB policy constantly. Here are some of the bigger moves that actually shifted market behavior.
Notes
Data is from public HDB records, plus CPI and MRT coordinates. All prices in SGD. The 2026 numbers are obviously incomplete. MRT distances are straight-line from blocks to station exits—not walking distance. Everything here uses simple averages. No fancy weighting or adjustments.