Singapore’s residential property market showed signs of recovery in Q2 2026, with new home sales increasing by 6.4% quarter-on-quarter (QoQ) to 2,141 units, according to Savills’ latest report. This follows a significant 31.5% decline in the previous quarter. The secondary market also experienced a resurgence, with sales up 17.9% QoQ to 4,007 units, driven by limited new launches.
The report highlights a contraction in the number of units launched for the third consecutive quarter, falling 3.3% QoQ to 1,783 units. Despite this, the demand for resale properties surged as prospective buyers turned to the secondary market. Alan Cheong of Savills noted, “Despite some moderation in market exuberance, the overall health of the private residential market remains robust.”
Luxury non-landed private residential prices continued their upward trend, rising for the seventh consecutive quarter by a modest 0.1% QoQ. However, foreign purchases saw a decline, dropping 27% QoQ to 65 units, marking the lowest quarterly volume since Q2 2025.
The report also detailed strong performances in specific projects. Tengah Garden Residences, located in the Outside Central Region (OCR), sold nearly all its units during its launch weekend, with Singaporeans making up 90% of the buyers. Meanwhile, Hudson Place Residences in the Rest of Central Region (RCR) sold 213 of its 327 units, benefiting from its strategic location near major employment hubs.
Looking ahead, Savills maintains its forecast for a 3% year-on-year increase in private residential prices for 2026, despite the current moderation in growth.
