This HDB Town Sold the Most Flats in 2025 — Despite Not Being the Cheapest

If there’s one headline that dominated the HDB market through 2025, it was the steady rise of million-dollar flats. What once felt like an outlier has become increasingly common, and now, at the start of 2026, the market finds itself at a crossroads. The pipeline of SERS has effectively come to an end for the foreseeable future, removing a long-standing source of “hope premium” for older flats.

What’s notable, however, is that resale activity has remained concentrated rather than slowing evenly across the board. Even with prices elevated, buyers are still transacting — but not everywhere, and not at the same pace.

With this in mind, we took a closer look at where HDB resale activity was actually concentrated in 2025. Which towns saw the highest number of transactions, and how do their average prices compare? The answers offer a useful baseline for understanding buyer behaviour as we head into 2026.

HDB towns that sold the most, and what we found out

HDB town	Total number of units sold from Jan - Oct 2025
SENGKANG	1,643
TAMPINES	1,642
WOODLANDS	1,478
YISHUN	1,470
JURONG WEST	1,369
PUNGGOL	1,313
HOUGANG	1,129
BUKIT BATOK	1,119
SEMBAWANG	1,037
BEDOK	1,017
TOA PAYOH	891
CHOA CHU KANG	886
ANG MO KIO	840
BUKIT MERAH	796
KALLANG/WHAMPOA	681
BUKIT PANJANG	679
GEYLANG	535
PASIR RIS	516
QUEENSTOWN	499
CLEMENTI	471
JURONG EAST	421
SERANGOON	336
BISHAN	315
CENTRAL AREA	149
MARINE PARADE	142
BUKIT TIMAH	42

Sengkang and Tampines are almost tied for the top spot, with 1,643 and 1,642 resale transactions. These have been the two most “active” towns so far in 2025; and they’re closely followed by Woodlands and Yishun. 

For Sengkang, Woodlands, Yishun, Jurong West and Punggol, the high volume is mostly due to the right combination of lower prices, plus many blocks that are still within the first two decades of their 99-year lease, which appeals to most buyers. However, we do think Woodlands will soon be an exception to this, as the RTS link and other planned upgrades may bring an end to its “cheap” status. 

Tampines is a bit harder to pin down from a general view like this, as Tampines is a wide area. Tampines West, and newer areas like Tampines North, have very different characteristics from the famed hub area with Tampines One, Tampines Mall, etc.

As for the Central Area and Marine Parade, it’s common for them to see the fewest transactions. Not many people are willing to give up flats in these scarce locations; it’s notoriously difficult to find resale flats in Marine Parade, especially the larger 5-room flats. 

Now let’s look at the price and volume by flat type

We’ll begin with 3-room flats:

3-room flats

HDB town	Total number of units sold from Jan - Oct 2025	Average price
ANG MO KIO	458	$454,829
BEDOK	420	$449,863
YISHUN	408	$445,809
TOA PAYOH	349	$482,912
TAMPINES	302	$513,796
JURONG WEST	299	$400,010
BUKIT MERAH	296	$526,671
BUKIT BATOK	287	$435,056
HOUGANG	286	$456,301
KALLANG/WHAMPOA	275	$501,036
GEYLANG	251	$433,031
QUEENSTOWN	224	$523,662
CLEMENTI	217	$451,116
PUNGGOL	178	$542,907
WOODLANDS	175	$439,184
JURONG EAST	162	$418,328
SENGKANG	136	$541,975
SEMBAWANG	96	$524,515
BUKIT PANJANG	80	$463,939
MARINE PARADE	77	$484,921
SERANGOON	77	$466,644
CENTRAL AREA	62	$523,212
CHOA CHU KANG	55	$465,677
BISHAN	47	$522,042
PASIR RIS	18	$506,938
BUKIT TIMAH	8	$505,347

Ang Mo Kio has seen the highest volume of 3-room flat transactions thus far, and the reason isn’t hard to guess: Ang Mo Kio is a mature town, but you can see it’s in a moderate price band (average of $454,829). Interestingly, this is lower than some non-mature areas like Sengkang, Sembawang, and Punggol - so this does appear to be a good deal overall. 

The same goes for Bedok, which has relatively modest prices for such a mature neighbourhood (with the caveat that Bedok is a very large area, with some areas being much less convenient than others). 

Nonetheless, Ang Mo Kio and Bedok both have older blocks that date back to the 1980s, which may lower the average price (around $445,000 to $455,000) despite the convenience. These types of blocks can make good rightsizing options for older buyers. 

On the other end, Jurong West, Jurong East, Geylang and Woodlands remain among the most affordable locations for three-room flats, with average prices from about $400,000 to $440,000. These estates provide some of the lowest entry points into the resale market in 2025. 

4-room flats

HDB town	Total number of units sold from Jan - Oct 2025	Average price
SENGKANG	808	$658,628
TAMPINES	770	$687,484
YISHUN	708	$567,348
WOODLANDS	692	$565,614
PUNGGOL	658	$684,052
JURONG WEST	531	$554,789
HOUGANG	506	$630,192
SEMBAWANG	479	$629,243
BUKIT BATOK	468	$621,559
CHOA CHU KANG	417	$559,480
BEDOK	379	$652,242
TOA PAYOH	352	$916,664
BUKIT MERAH	333	$889,305
BUKIT PANJANG	325	$588,374
KALLANG/WHAMPOA	279	$866,261
ANG MO KIO	251	$691,381
QUEENSTOWN	201	$967,907
PASIR RIS	200	$650,005
GEYLANG	198	$770,139
CLEMENTI	178	$828,267
BISHAN	156	$779,777
SERANGOON	151	$685,502
JURONG EAST	122	$555,897
CENTRAL AREA	61	$1,087,314
MARINE PARADE	29	$649,532
BUKIT TIMAH	14	$815,985

This is the most important segment, as 4-room flats are the backbone of our public housing.

Sengkang and Tampines dominate the segment, with 808 and 770 transactions respectively. From word on the ground, these towns have sizeable clusters of relatively new 4-room flats; and whilst not the cheapest, they’re comfortably in the mid-range. Again though, note that many of the Tampines 4-room flats transactions may not be from the much pricier town centre, but in the outer parts of the neighbourhood (e.g., the areas close to the borders of Simei or Bedok). 

Yishun and Woodlands continue to be the more budget-friendly alternatives, with average prices around $565,000 to $567,000. For reasons mentioned above - the upcoming RTS link and Woodlands Northshore - this could be a good entry point into Woodlands, for those looking at the long term. 

On the higher end of the pricing scale, the more central flats continue to see high prices, and we can see many are inching ever closer to a million dollars as the norm/average. Queenstown is the closest now, with an average of $968,000 for its 4-room flats, with Toa Payoh close on its heels ($916,000). Thankfully, for some buyers, Bukit Merah, Clementi, and Kallang/Whampoa have an average that remains below $900,000…for now. 

5-room flats

HDB town	Total number of units sold from Jan - Oct 2025	Average price
SENGKANG	547	$727,880
WOODLANDS	446	$673,802
TAMPINES	430	$825,015
JURONG WEST	391	$646,269
PUNGGOL	388	$762,707
CHOA CHU KANG	318	$660,946
SEMBAWANG	282	$701,061
BUKIT BATOK	234	$802,548
YISHUN	230	$717,047
HOUGANG	199	$773,644
BUKIT PANJANG	182	$728,190
PASIR RIS	165	$737,620
TOA PAYOH	149	$1,068,836
BEDOK	146	$779,548
BUKIT MERAH	141	$1,054,049
ANG MO KIO	104	$943,494
KALLANG/WHAMPOA	98	$998,356
JURONG EAST	87	$699,698
BISHAN	84	$1,049,702
CLEMENTI	61	$1,010,235
GEYLANG	57	$861,258
SERANGOON	57	$841,142
QUEENSTOWN	50	$1,173,571
MARINE PARADE	35	$963,406
CENTRAL AREA	18	$1,368,049
BUKIT TIMAH	13	$1,134,214

Affordability seems to be the big issue here. Except for Tampines, every one of the highest-volume towns is in the lower or mid-price range for 5-room flats. Sengkang, Woodlands, Jurong West, Choa Chu Kang and Sembawang all offer 5-room flats that can transact at or below the $700,000+ range, making them ideal for families who want a better price-to-space ratio. 

Meanwhile, mature estates are practically in their own world, with their high prices and very low volumes. Toa Payoh, Bukit Merah, Bishan, and Clementi are at an average price of $1 million+ for a 5-room flat now, with Kallang/Whampoa almost joining the club at an average of $998,000. 

However, we may see a change due to the end of SERS. Older HDB projects in Toa Payoh or Bukit Merah, for instance, may plateau or even see price dips going forward, as there’s no more “hope premium” for a big bailout at the end of the lease.

Executive and multi-gen flats

HDB town	Total number of units sold from Jan - Oct 2025	Average price
WOODLANDS	134	$920,512
TAMPINES	129	$975,035
JURONG WEST	123	$791,001
PASIR RIS	121	$920,050
CHOA CHU KANG	84	$815,895
HOUGANG	78	$982,719
SENGKANG	72	$832,980
BUKIT PANJANG	69	$873,225
SEMBAWANG	66	$747,987
BUKIT BATOK	63	$874,286
YISHUN	61	$937,075
SERANGOON	50	$1,069,004
BEDOK	48	$1,031,436
JURONG EAST	40	$941,656
BISHAN	28	$1,270,370
PUNGGOL	27	$809,543
TOA PAYOH	17	$1,086,353
GEYLANG	15	$1,051,267
ANG MO KIO	14	$1,103,500
KALLANG/WHAMPOA	13	$1,044,991
CLEMENTI	10	$1,051,500
BUKIT TIMAH	7	$1,396,365
QUEENSTOWN	6	$1,376,417

These flats are less common than the others and tend to have lower transaction volumes. 3Gen flats in particular can only be sold to other extended family members, which caps their transaction volume and could affect pricing. As such, we shouldn’t be too quick to consider all of these numbers representative. 

Nonetheless, from what we do see, Serangoon, Bedok and Yishun are already above or close to a million-dollar average. Further in, the mature central estates, such as Bishan, Toa Payoh, Queenstown, and Bukit Timah, have already crossed that line.

An important consideration in 2026 is continued decentralisation. 

As more commercial hubs, MRT stations and malls take root outside the central region, the appeal of fringe OCR towns has grown steadily. The time is coming when buyers are no longer choosing between “central convenience” and “heartland compromise” in the way we did a decade ago. 

Increasingly, we see newer estates offer connectivity and convenience that rivals more central flats; and when you add in their newer leases and lower costs, they might be a better deal than a more “prime” flat. 

Couple this with the end of SERS, and the HDB market may be at a turning point. Younger buyers might want to reconsider old ideas of having to be in a mature town (a classification even HDB has discarded), or prejudices about some neighbourhoods being too “ulu.” It’s arguable that places like Punggol or Yishun should have shed those reputations by now, and Woodlands certainly will soon. 

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