Private residential prices in Singapore have continued their upward trajectory in the first quarter of 2026, despite a significant 31.5% drop in new home sales, according to Savills’ latest Residential Sales Briefing. The decline in sales is attributed to a nearly 30% reduction in new launches, with only 1,844 units introduced to the market, resulting in 2,013 units sold.
The report highlights a divergence between transaction volumes and pricing, with non-landed home prices rising by 1.3% quarter-on-quarter (QoQ), contributing to a 3.4% year-on-year increase. The Outside Central Region (OCR) led the growth, with prices increasing by 2.2% QoQ, marking its sixth consecutive quarterly rise due to sustained demand for affordable housing.
Despite a slowdown in buyer activity among Singaporeans and permanent residents, foreign purchases saw a slight increase, albeit constrained by high stamp duties. Alan Cheong, Executive Director of Savills Research & Consultancy, noted, “The market is increasingly driven by selective demand, with well-positioned projects continuing to perform even as overall volumes ease.”
Looking forward, the market’s performance will hinge on upcoming launches and the appeal of individual projects. Developments in areas with limited recent supply are expected to benefit from pent-up demand. Savills maintains its forecast for a 3% growth in private residential prices for 2026, underpinned by expectations of long-term capital appreciation despite geopolitical and economic uncertainties.
