Singapore’s property market experienced varied trends in the third quarter of 2026, according to the latest statistics from the Urban Redevelopment Authority (URA). Cushman & Wakefield’s Head of Research, Wong Xian Yang, noted a decline in private residential sales volume by 16.3% quarter-on-quarter (qoq) and 30.5% year-on-year (yoy), with 5,146 units sold. Despite this, private residential prices rose by 1.4% qoq, marking the eighth consecutive quarter of increase.
The residential sector saw a significant drop in new sales volume by 44.7% qoq, whilst resale and sub-sales also declined. However, new launches showed healthy take-up rates, with 72.7% of major projects selling over half their units. Wong highlighted that private residential prices could grow by 3.0%-4.0% yoy in 2026, supported by low borrowing costs and local demand.
In the office sector, vacancy rates tightened to 10.0%, the lowest since Q1 2024, driven by steady demand and limited supply. Central Region office rents rose by 0.8% qoq, with the Downtown Core remaining active. The rise of AI-related firms is contributing to demand, reinforcing Singapore’s status as a regional innovation hub.
Retail rents in the Central Region increased by 0.7% qoq, led by tier 1 malls. Despite negative net demand, Orchard Road continues to attract international brands, maintaining its status as a premier shopping destination. The successful backfilling of prime retail spaces indicates ongoing demand for well-located assets.
Overall, whilst the residential market faces challenges, the office and retail sectors demonstrate resilience, supported by strategic demand and limited supply.
