Singapore’s housing market experienced a mixed performance in the first quarter of 2026, according to flash estimates released by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB). Private home prices saw a modest increase of 0.3% quarter-on-quarter (QOQ), whilst HDB resale prices recorded their first quarterly decline in nearly seven years.
The non-landed homes in the Outside Central Region (OCR) led the growth in private home prices, with a 1.3% QOQ increase. This marks the strongest quarterly rise for the sub-market in five quarters. However, the landed homes segment saw a 1.8% QOQ decline, attributed to a 28% drop in transactions, potentially influenced by geopolitical tensions in the Middle East.
In the Core Central Region (CCR), non-landed home prices rebounded by 0.4% QOQ, supported by successful new launches such as Newport Residences and River Modern. Kelvin Fong, CEO of PropNex, noted that local buyers are increasingly driving demand in the CCR, partly due to a narrowing price gap between city-fringe and central homes.
The executive condominium (EC) segment also performed well, with sales surpassing 1,000 units for the first time in 13 quarters. This demand is driven by first-time buyers and HDB upgraders, despite rising prices.
Looking ahead, the OCR is expected to see further price increases with upcoming launches, whilst the EC market remains robust. However, the landed housing segment may face challenges due to larger price tags and cautious buyer sentiment.
