Luxury home sales hold firm in Q1 as CCR deals rise

New sales and ultra-luxury transactions support stable luxury market momentum.

Luxury home transactions in Singapore remained steady in the first quarter (Q1) of 2026, with 188 Core Central Region (CCR) residential units priced at $5m and above changing hands, according to data from URA Realis caveats compiled by OrangeTee & ETC Research (Realion).

This is slightly up from 186 and 177 transactions in the fourth quarter and third quarter of 2025, respectively, and is above the three-year quarterly average of 137 units. Bulk transactions of more than one unit were excluded from the data.

Luxury new sales rose for the fourth consecutive quarter to 55 units in Q1 2026, the highest since Q4 of 2023 when 74 units were recorded with the bulk of new sales coming from River Modern.

Other projects with activity included Skye at Holland, UPPERHOUSE at Orchard Boulevard, and Watten House, which recorded three units each.

Additional projects, including 32 Gilstead, Park Nova, Newport Residences, 21 Anderson, The Giverny Residences and two landed properties, recorded fewer than three units each.

Resale transactions declined slightly to 133 units in Q1 2026 from 139 in Q4 2025. The most active resale projects included The Draycott and Leedon Residence with six units each, followed by Paterson Suites, Nassim Jade and Goodwood Residence with four units each.

OrangeTee said River Modern accounted for about 20% of luxury sales in Q1 2026, with nearly 90% of units sold during its launch on 7 March 2026, adding that demand was supported by location factors, including proximity to Great World MRT station and Great World City.

Total transaction value of luxury homes declined 4% quarter on quarter to $1.7b in Q1 2026. New sales rose to $400m from $330m in the previous quarter, whilst resale value fell to $1.3b from $1.43b.

Transactions for Core Central Region condos priced above $3,000 per square foot (psf) and at least $5m rose to 75 units, the highest since Q4 2023. New sales accounted for 53 units, whilst resale made up 24 units.

The highest recorded price in Q1 2026 was a $37m unit at The Marq on Paterson Hill, which transacted at $5,937 psf. A Park Nova unit followed at $5,161 psf, or $15m.

Ultra-luxury transactions above $10m rose to 17 units from 14 in the previous quarter, with 13 resale deals and four new sales recorded.

Good Class Bungalow (GCB) transactions fell to four units in Q1 2026 from nine in Q4 2025. The average land rate for GCBs declined to $1,803 psf, the lowest since mid-2022.

OrangeTee said demand for luxury homes is expected to remain supported by limited supply in the ultra-luxury segment and continued interest from ultra-high-net-worth individuals.

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