Singapore’s prime residential market has maintained robust demand in the first half of 2026, according to Knight Frank Singapore’s latest report. The number of prime non-landed home sales totalled 128, with a sales value of S$1.1b, marking a slight decrease from the previous half-year. However, the average unit price rose by 8.3% to S$2,689 per square foot.
The increase in citizenships and permanent residencies granted by the government has bolstered the buyer pool, contributing to the demand for luxury non-landed homes. Nicholas Keong, Head of Residential and Private Office at Knight Frank Singapore, noted that Singapore’s status as a safe haven has encouraged some to upgrade from tenancies to home ownership.
The market outlook for the second half of 2026 suggests consistent sales activity, driven by globally mobile wealth seeking stability in Singapore. Despite a 60% Additional Buyer’s Stamp Duty rate affecting foreign demand, new projects in the Core Central Region could perform well if priced appropriately. Prices are expected to rise by 1% to 3% for the year.
In the landed residential sector, 544 homes were sold in H1 2026, with a sales value of S$4.9b. The Property Price Index for landed homes increased by 2.6% quarter-on-quarter in Q2 2026. Buyers are becoming more selective, considering factors such as land shape and elevation, leading to longer negotiation periods. Landed home values are projected to grow by 3% to 5% for the year.
