How many million-dollar HDB flats are sold each quarter?

In Q1 2026, 389 HDB resale flats transacted at S$1 million or above, up 15.4% from the previous quarter and up 18.6% year-on-year, according to PropKaki's Singapore HDB Market Tracker using HDB's official resale application data.

Million-dollar HDB transactions — last 8 quarters

What drives million-dollar HDB sales?

Three factors explain most million-dollar HDB transactions: location (mature central estates command a premium), flat type (5-room and Executive apartments have more space to justify the price), and remaining lease (buyers prefer flats with 70+ years remaining). Bishan, Queenstown, Toa Payoh, and Bukit Merah consistently produce the highest counts.

The threshold is nominal — S$1 million has not been adjusted for inflation since the term entered mainstream use. As overall resale prices rise, a growing share of transactions will naturally cross this threshold even without any change in real value.

Does a million-dollar HDB sale mean the market is overheated?

Not necessarily. The million-dollar count is a count of extreme transactions, not a median. Singapore's median HDB 4-room resale price remains well below S$1 million. The count is a useful signal for sentiment and demand intensity at the top end of the HDB market, but it should be read alongside the HDB Resale Price Index and median prices for a complete picture.