Private home prices extend gains in Q1 as volumes fall

New launches and resale transactions declined across all segments.

Singapore private home prices continued to rise in the first quarter (Q1) of 2026, even as both new and resale volumes declined, according to Savills Research & Consultancy.

Savills’ quarterly report for residential sales found that new home launches fell 30% quarter on quarter (QoQ) to 1,844 units. New sales dropped 31.5% to 2,013 units, whilst secondary sales declined 9.6% to 3,400 units.

The slowdown was broad-based. Purchases by Singaporeans fell 21.5% QoQ, whilst permanent resident demand dropped 19.7%.

Foreign buying rose 7.2% to 89 units, but remained muted under the 60% Additional Buyer’s Stamp Duty (ABSD), according to the report.

Despite weaker activity, prices rose for a sixth consecutive quarter, up 0.9% QoQ. Non-landed home prices increased 1.3%, whilst landed prices fell 0.4%.

By region, the Outside Central Region (OCR) led gains with a 2.2% increase, followed by the RCR at 0.8% and CCR at 0.6%. Savills’ luxury non-landed basket rose 0.2% to $2,644 per square feet (psf).

Demand was concentrated in a small number of launches. Pinery Residences recorded a 91.3% take-up rate, whilst River Modern exceeded 90%. Newport Residences sold more than half its units at launch.

Secondary sales weakened across all regions, with CCR and RCR posting double-digit declines and OCR down 7.7%, the report found.

Pipeline supply rose 6.8% QoQ to 38,133 units, with 16,095 units remaining unsold as at end-Q1 2026.

Savills maintained its 2026 forecast for private home prices at around 3%, citing earlier price resets and expectations of gradual gains.

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Savills Research & Consultancy

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