The luxury non-landed homes market in Singapore demonstrated resilience in the first quarter of 2026, with 79 units sold, marking a nearly 10% increase compared to the same period last year, according to Huttons Asia’s latest report. This growth comes despite escalating geopolitical tensions in the Middle East, which have inadvertently bolstered Singapore’s appeal as a global wealth management hub.
The total value of luxury non-landed homes sold reached $668.8m, reflecting a 4.7% increase from the previous quarter and a 9.4% rise year-on-year. Notably, there were 18 transactions valued at $10m or more, a significant 38.5% increase from the previous quarter.
Mark Yip, CEO of Huttons Asia, attributed this trend to ultra-high-net-worth individuals (UHNWIs) seeking stable environments to manage their wealth. “Singapore’s safe haven status, political stability, strong rule of law, competitive tax regime, and low corruption appealed strongly to these UHNWIs,” he stated.
The rental market for luxury non-landed homes also saw growth, with rents increasing by 1.6% compared to Q1 2025. An estimated 577 units were rented out, a 3.2% year-on-year increase.
However, the Good Class Bungalow (GCB) market experienced a slowdown, with a 63.3% decrease in total transacted value from the previous quarter, although it was 76.9% higher than the same period last year. The largest GCB transaction was a $92m sale on Nassim Road.
Looking ahead, Singapore’s strategic position as a wealth management hub is expected to attract more UHNWIs, potentially driving further growth in the luxury property market.
