Singapore’s luxury condo market didn’t just warm up in Q1 2026 — it boiled over. Seventy-five units sold above S$3,000 psf, up from 54 the previous quarter. Total transaction value hit S$400 million. And the kicker? This happened while the Middle East was on fire and global inflation was still biting hard. Buyers didn’t blink.
Seventy-five units. S$400 million. A region on fire. Buyers didn’t blink.
One project did the heavy lifting. River Modern launched March 7 and sold 90% of its 455 units within *days*. That’s 38 of the 55 new luxury sales that quarter — roughly 69% — from a single project. No other launch cracked three units sold. Think of it like a new hawker stall opening that immediately has a two-hour queue, while every other stall sits empty. The hunger was real, and it was concentrated.
Singaporeans and PRs drove most of it — 133 of 188 transactions, about 69%. But foreign buyers are creeping back in. Chinese buyers led with 104 units in 1H 2026. Americans came in second with 51 deals. Malaysians, Indonesians, and Indians followed. Foreign share nudged up to 4% from 3.3% the year before. Small number, but the direction matters.
Here’s what’s wild: the 60% Additional Buyer’s Stamp Duty is still in play. That adds roughly S$3 million on a S$5 million condo for foreigners. Most people would walk away. But high-net-worth buyers? They’re not flinching. They’re treating Singapore property like a digital locker — something to park serious wealth in when the world feels unstable. ABSD didn’t kill demand. It just filtered *who* shows up.
The ultra-luxury tier — units at S$10 million and above — hit 40 deals in 1H 2026, up from 31 the prior year. The Marq resale unit went for S$5,937 psf. S$37 million. For a resale. That’s not speculation. That’s conviction. Resale transactions across the broader luxury segment totalled 133 units in Q1, though that was a slight dip from 139 units the previous quarter.
Analysts expect this momentum to hold. Supply from new launches stays tight. Foreign capital keeps flowing in. Singapore’s stability isn’t just a selling point anymore — it’s the entire pitch. Meanwhile, new projects including LyndenWoods at Science Park and Faber Residence at Clementi are drawing attention as highly recommended new launches signal that developer confidence in the market remains firmly intact. Meanwhile, the landed home market posted 544 units sold in 1H 2026, worth S$4.9 billion, signalling that appetite for high-value property extends well beyond the condo segment.
