New private home sales in Singapore experienced a significant decline in August, with only 153 units sold, excluding Executive Condominiums (ECs), compared to 731 units in July. This decrease was anticipated due to the absence of major new project launches and the traditional slowdown during the Hungry Ghost Festival, according to Mohan Sandrasegeran, Head of Research & Data Analytics at SRI.
The decline in sales follows a robust July, which saw successful launches such as Lentor Gardens Residences and Dunearn House. With limited new inventory in August, sales were primarily driven by ongoing transactions from previously launched projects. Sandrasegeran emphasised that the lower sales volume should be viewed in the context of launch timing and limited fresh supply, rather than a shift in homebuyer demand.
The quieter market has allowed existing projects to gain greater visibility, reducing competition for buyer attention. This environment benefits projects with attractive locations, unit choices, or price points, as buyers have more opportunity to revisit and compare options. Dunearn House and Lentor Gardens Residences continued to perform well, with 18 and 15 units sold at median prices of $3,008 and $2,367 per square foot, respectively.
EC projects also maintained interest, with Coastal Cabana and Rivelle Tampines recording further sales. Existing EC projects have achieved high take-up rates, with some selling over 97% of units. The EC market is transitioning following policy changes in May 2026, which aim to reinforce the owner-occupier nature of the segment and increase the household income ceiling.
Looking ahead, September may see another quiet month due to school holidays, but the market is poised for increased activity with upcoming launches like Amberwood at Holland and Lucerne Grand. These developments are expected to revitalise the market, with external economic conditions also influencing buyer decisions.
