New luxury home sales sink 40.7% as launches dry up

Resale deals offset a sharp slowdown in new luxury home transactions during Q2.

The value of Singapore's luxury home transactions slipped in the second quarter (Q2) as new home sales slowed, whilst resale activity continued to grow, according to Realion (OrangeTee & ETC) Research.

The consultancy's Q2 2026 Luxury Market report showed total luxury home transaction value, including bulk deals, fell 3.6% quarter on quarter (QoQ) to $1.67b from $1.73b in Q1.

The decline was driven by weaker new home sales with new home transaction value dropping 40.7% to $220m from $371m over the same period.

In contrast, luxury resale transaction value rose 6.1% QoQ to $1.43b from $1.35b, according to Realion.

Realion Research said the decline in new home sales reflected the absence of new luxury launches during the quarter.

Activity also eased in the top end of the Core Central Region condominium market. Transactions for units priced above $3,000 per square foot (psf) and at least $5m fell to 52 in Q2 from 73 in the previous quarter.

New sales in this segment dropped to 19 units from 50 in Q1.

Transactions were recorded at projects including 21 Anderson, 32 Gilstead, Park Nova, River Modern, Skye at Holland, Skywaters Residences, The Giverny Residences, UPPERHOUSE at Orchard Boulevard, and Watten House.

The highest-priced transaction by square foot in Q2 was a 195-square-metre unit at Skywaters Residences, which sold for $12.5m, or $5,947 psf, in April. A unit at 21 Anderson followed at $22.5m, or $5,013 psf.

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