Selective demand and limited launches support strong take-up at key projects
Savills Q1 2026 Residential Sales Briefing reports that private residential prices in Singapore continued to rise in Q1/2026, even as new home sales declined 31.5% quarter-on-quarter(QoQ), highlighting a clear divergence between softer transaction volumes and firm pricing.
The slowdown was driven by a nearly 30% drop in new launches to 1,844 units, which reduced new sales to 2,013 units. Secondary transactions also fell for a second consecutive quarter, declining 9.6% to 3,400 units.
Despite this moderation in activity, prices extended their upward trend for a sixth straight quarter. Non-landed home prices rose 1.3% QoQ, contributing to a 3.4% year-on-year increase in overall residential prices.
The Outside Central Region (OCR) led growth, with prices rising 2.2% QoQ, its 6th consecutive quarterly increase, supported by sustained demand for more affordable housing options. Prices in the Rest of Central Region (RCR) rose for a third consecutive quarter, increasing by 0.8% QoQ compared to 0.7% in Q4/2025. In the Core Central Region (CCR), prices rebounded by 0.6% QoQ.
On a YoY basis, price growth in the non-landed segment generally moderated across most sub-markets, except for OCR, where growth accelerated to 5.2% in Q1/2026 from 3.2% in Q4/2025. In comparison, YoY price increases in the CCR and RCR eased to 1.7% and 0.7% respectively, down from 1.9% and 1.6% in the previous quarter.
Demand remained focused on well-positioned projects with clear differentiating factors. Limited launches and distinct project offerings supported strong take-up rates during the quarter. Developments such as River Modern and Pinery Residences recorded sales exceeding 90%, reflecting continued buyer interest despite a more cautious market environment.
Buyer activity softened among Singaporeans and permanent residents, while foreign purchases edged up slightly, although demand remained constrained by high stamp duties. This points to a more selective market, where buyers are increasingly discerning and focused on value and location.
Alan Cheong, Executive Director of Savills Research & Consultancy said “The market is increasingly driven by selective demand, with well-positioned projects continuing to perform even as overall volumes ease. This supports pricing resilience and may set new benchmarks for surrounding developments.”
Despite geopolitical and economic uncertainty, underlying expectations of long-term capital appreciation continue to support sentiment. Savills maintains its forecast for private residential prices to grow by approximately 3% in 2026.