Private housing prices rise in Q1, led by suburban condo sales
News
Singapore’s private residential market continued to edge upward in the first quarter of 2026, even as overall transaction volumes softened and buyers became more selective. The latest data shows a market that is still growing, but at a more cautious and sustainable pace.
Industry analysts note that this moderation in momentum is actually helping long-term stability. With price increases happening gradually, buyers now have more time to evaluate choices instead of rushing decisions under pressure.
Across different property segments, performance has become increasingly uneven, with suburban homes outperforming luxury districts while transaction activity cools.
In the landed property segment, prices dipped slightly in Q1 2026, marking the first decline after several quarters of growth. This softening is linked to reduced sales activity and a mismatch between buyer expectations and seller pricing, alongside broader global uncertainty that has affected sentiment in higher-end housing.
In contrast, non-landed homes continued to support overall market growth. Suburban condominiums in particular recorded the strongest performance, driven by steady demand for more affordable and practical housing options. The Outside Central Region (OCR) led this trend, showing the sharpest price increase among all regions, while the Rest of Central Region and Core Central Region posted more moderate gains and partial recovery after earlier fluctuations.
At the same time, the total number of private home transactions fell compared to the previous quarter. New sales, resale deals, and sub-sales all recorded lower volumes, suggesting that buyers are taking a more cautious approach amid interest rate concerns and broader economic uncertainty.
Developer activity also slowed, with fewer new launches entering the market. However, several projects still saw strong take-up rates, indicating that genuine demand remains healthy for well-located developments.
The executive condominium segment stood out as a key growth area. Sales reached their highest level in many years, supported by strong demand from first-time buyers and upgraders. Prices in this segment also reached record levels, reflecting continued affordability pressure in the wider housing market.
Meanwhile, resale properties gained a larger share of overall transactions as buyers looked for completed homes that offer immediate occupancy and more price flexibility. Despite slightly lower volumes, resale prices continued to hold firm on a year-on-year basis, with many homeowners still enjoying significant gains. Sub-sale activity, however, continued its downward trend, suggesting that most owners are holding properties for the long term.
Rental conditions showed early signs of stabilisation after recent softening. Prices edged up slightly, and leasing activity increased modestly, suggesting that the rental market may be approaching a turning point after a period of cooling.
Looking ahead, the pipeline of future supply remains substantial, with tens of thousands of new units expected over the coming years. This is likely to help moderate future price growth and improve housing availability, especially if demand stabilises at current levels.
Overall, the market is shifting into a more balanced phase: price growth continues, but at a slower pace; demand remains, but is more selective; and future supply is increasing, which could help keep long-term affordability in check.
