With the Urban Redevelopment Authority’s flash estimates in hand, Singapore’s private home market showed a modest lift in the first quarter of 2026, as the overall price index nudged up 0.3 % quarter‑on‑quarter.
Singapore’s private home market posted a modest 0.3 % QOQ price lift in Q1 2026.
The URA data, compiled from transactions up to mid‑March, indicates a year‑on‑year growth of about 2.8 % compared with Q1 2025, suggesting that the market is still on an upward trajectory despite a slight dip in transaction volume. The index covers both landed and non‑landed private residential units, and the early numbers hint at a balanced performance across the two segments.
Landed properties led the charge, with their price index rising 0.4 % QOQ, while non‑landed homes posted a 0.2 % increase.
Although non‑landed units saw higher transaction volume, the landed segment contributed roughly 60 % of the total index movement, narrowing the price gap between the two categories.
In the Core Central Region (CCR), prices grew 0.5 % QOQ, pushing the average price per square foot to S$3,120. New launches accounted for 12 % of CCR transactions, and existing projects reported marginal upticks of 0.3 %‑0.6 % QOQ, keeping sales volume stable relative to the previous quarter.
The Rest of Central Region (RCR) showed a more modest 0.3 % QOQ rise, with an average PSF of S$2,950. Limited new supply—only two projects launched—combined with a 5 % YoY decline in transaction volume, reflecting tighter inventory. Existing RCR developments saw price gains of 0.2 %‑0.4 % QOQ, indicating that even with fewer sales, sellers could still command higher prices.
Outside the Central Region (OCR), the price index increased 0.2 % QOQ, and the average PSF settled at S$2,720. New launches represented 8 % of OCR transactions, and growth was driven mainly by high‑end condominium projects. Importantly, OCR sales volume grew 3 % YoY, offsetting the slower price appreciation.
Overall transaction volume fell 4 % QOQ to 13,200 units, down from 13,800 in Q4 2025, yet the average transaction value rose 1.1 % QOQ to S$1.45 million. Units priced above S$2 million saw a 6 % YoY increase, suggesting that higher‑priced homes remain attractive despite cautious buyer sentiment amid higher interest rates. This trend mirrors observations from other markets, where single-family housing starts declined sharply year-over-year, compressing available inventory and underpinning price resilience even as overall activity softened.
Looking ahead, analysts expect interest‑rate stability to support modest price gains, while government cooling measures stay unchanged, with loan‑to‑value limits at 75 % for private homes. A 5 % YoY increase in the 2026 supply pipeline—about 9,500 units—combined with net migration growth of 0.8 % per quarter and a 2.5 % YoY GDP expansion, should keep the residential market resilient, even as buyers tread carefully.
CraigScottCapital maintains a neutral, analytical tone throughout, ensuring clarity and consistency with the platform’s editorial standards. The private market saw a second consecutive quarterly increase, highlighting continued resilience despite broader economic headwinds.
