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Data Insight

Million-Dollar HDB Flats: How Fast, and How Far They've Spread

Every HDB resale transaction at S$1,000,000 or above since 2017 — how many, where, and what type.

Key finding

In 2017, 46 HDB resale flats crossed S$1 million — about 1 in 450 sales. In the first eight months of 2026, 1,276 did — about 1 in 13. And they are no longer a central-region story: 23 towns recorded one last year, up from 8.

Share of HDB resales at S$1 million or more

Percentage of all resale transactions that year.

0%2%4%6%8%2017201820192020202120222023202420252026*

2026 is January–August. Source: Resale Flat Prices, HDB.

Number of million-dollar resales by year

05001,0001,5002,0004620177120186420198220202592021369202246920231,03520241,59320251,2762026 (Jan–Aug)

2026 covers January–August only. Source: Resale Flat Prices, HDB.

It spread outward from the centre

The year each town recorded its first million-dollar resale.

  • 2017: eight central or near-central towns — Central Area, Queenstown, Toa Payoh, Bishan, Kallang/Whampoa, Clementi, Bukit Timah, Serangoon.
  • 2020: Ang Mo Kio and Geylang join.
  • 2022: a wave of non-central towns cross for the first time — Woodlands, Yishun, Tampines, Bedok, Pasir Ris, Jurong East, Bukit Batok, Punggol, Marine Parade.
  • 2023–2024: Bukit Panjang, then Sengkang. By 2024, 23 of the 26 towns had at least one.

Where the million-dollar sales were in 2026

Number of resale transactions at S$1M or above, January–August 2026, by town.

050100150200198Toa Payoh176Queenstown160Bukit Merah102Ang Mo Kio99Kallang/Whampoa67Clementi67Tampines58Bishan55Bedok42Hougang42Geylang41Central Area30Serangoon30Woodlands

Source: Resale Flat Prices, HDB.

Million-dollar sales by flat type, 2026

It is not only the big flats. The standard 4-room is now the largest single category.

02004006005654-room4495-room254Executive43-room4Multi-generation

January–August 2026. Source: Resale Flat Prices, HDB.

What it means

  • A million-dollar HDB flat is still under 8% of the resale market — but in Toa Payoh, Queenstown and Bukit Merah it is now routine, not a headline.
  • Most of these are newer flats with long leases in choice spots — near an MRT interchange, city-fringe, or a mature estate with amenities. Lease and location, not size, are doing the work.
  • For an upgrader it narrows the gap to private: a S$1.05M resale 4-room in Queenstown is priced against a small resale condo — with no ABSD, but with the resale HDB rules and, at these levels, cash-over-valuation back in play.

Data sources

  • Resale Flat Prices — HDB. Coverage: Jan 2017 – Aug 2026 (239,330 transactions). retrieved 2026-08-29.

Published 2026-08-29