A record 201 million-dollar HDB flats sold in August, the first month ever above 200

The headline numbers

• 201 million-dollar flats in August, up from 187 in July and 188 in June.
• They made up 8 per cent of all resale deals, up from 7 per cent in July.
• 177 of the 201 were in mature estates, itself a monthly record.
• Total resale volume was 2,524 flats, down 5.1 per cent from July but 14.1 per cent higher than August 2025.
• Overall resale prices rose 0.1 per cent month on month, with mature estates up 0.7 per cent.

The pattern worth noticing is that fewer flats sold overall, yet more of them sold above a million. The top of the market moved while the middle stayed quiet.

Where the million-dollar flats are

Three towns account for roughly four in ten of these sales. Toa Payoh led with 32 transactions, followed by Queenstown with 26 and Bukit Merah with 21, a combined 79 of the 201.

All three sit close to the city and are well served by MRT, which is the common thread across the whole list. Bishan, Kallang/Whampoa, Bedok, Hougang and Tampines also appear, and a scattering of newer flats in Sengkang, Punggol and Woodlands now clear the mark too.

The month's top sale

The highest price of the month was S$1,688,888 for a five-room flat at Tiong Bahru View on Boon Tiong Road. The unit is about 112 sq m, on a high floor between the 28th and 30th storeys, which works out to roughly S$1,401 per sq ft. High floor, large layout and a location a few minutes from Tiong Bahru MRT is the combination that keeps producing these prices.

Which flat types

Bigger flats dominate. Of the 201 sales, 82 were four-room, 65 were five-room, 53 were executive flats and one was a three-room terrace unit.

Executive flats are the type to watch. They are the largest HDB layout, there are relatively few of them, and they suit buyers moving out of a condo who still want the space. Prices for executive flats rose 2.8 per cent in August, the strongest of any flat type.

How the wait-out change fits in

On 28 July 2026 the government removed the 15-month wait-out period that had, since September 2022, forced private property owners to wait more than a year after selling before buying a non-subsidised resale flat. August was the first full month without it.

The timing lines up with the record, and the shape of the record fits the theory: large flats, mature estates, near the city, which is exactly what a private owner right-sizing tends to buy. Analysts have pointed the same way.

Being straight about it, one month is not proof. HDB does not publish buyer profiles by month, so nobody can yet say how many of the 201 buyers came from private property. Resale prices had been softening for two quarters before this, and a single month can move on its own. The honest read is that the timing is striking and the direction is clear, and the next two or three months of data will settle it.

What it means for you

If you own a large flat in a mature estate, the buyer pool for your flat just got wider, and August shows those buyers are willing to pay. It is a good window to test the market.

If you are buying, remember that 8 per cent of sales crossed a million, which means 92 per cent did not. Million-dollar flats grab the headlines, but the bulk of the market is still well below that. Widening your search by one or two MRT stops usually changes the price more than anything else.

If you are downgrading from private property, you can buy now without the 15-month wait, as long as it is a non-subsidised resale flat bought without an HDB loan. You still need to sell your private home within six months of completing the purchase.

The bottom line

August 2026 is the first month with more than 200 million-dollar HDB flats, and it landed in the first full month after the wait-out rule was dropped. Volume was down, prices were broadly flat, and the record sits at the top end of the market rather than across it. Watch September and October: if the 200 mark holds, the shift is real rather than a one-month spike.

Sources: 99.co SRX flash estimates for August 2026, HDB, Stackedhomes, Ministry of National Development. Figures are flash estimates and may be revised.