Private home prices to grow modestly in 2026 amidst fewer launches

Lower interest rates support demand as sales and rents normalise.

Singapore private home prices are expected to rise at a slower pace in 2026 as transaction volumes ease from last year’s peak, with fewer launches and easing pent-up demand shaping market conditions, according to property consultancies.

New home sales reached 10,815 units in 2025, the highest level in four years, supported by low interest rates and a surge in launches, according to CBRE.

“Looking ahead, buying sentiment and appetite are expected to remain strong in 2026 amid low interest rates, but sales volumes are likely to ease amid fewer launches and as the decline in interest rates tapers,” said Tricia Song, head of research for Singapore and Southeast Asia at CBRE. The consultancy expects between 7,500 and 8,500 new homes to be sold this year.

Developers launched 11,482 units in 2025, the highest annual total since 2013. With a thinner pipeline expected in 2026, CBRE forecasts private home price growth of 2% to 4% after prices rose 3.3% last year.

Rental conditions are also expected to soften. Rents fell 0.5% in the fourth quarter (Q4) after three consecutive quarters of growth, bringing full-year rental growth to 1.9%.

“With a similar number of completions expected in 2026, tenants will have more choices and it may take longer to rent out vacant units,” Song said. CBRE expects Islandwide rents to grow between 0% and 2% this year.

Knight Frank expects differentiated outcomes across segments. “Prime retail rents are projected to grow by 2% to 4% in 2026, supported by stable tourist arrivals and Singapore’s strengthening position as a regional hub for entertainment and large-scale events,” said Leonard Tay, head of research at Knight Frank Singapore.

In the residential market, Knight Frank said luxury non-landed homes in the Core Central Region are likely to see price growth of 1% to 3% amid fewer launches and continued ABSD constraints on foreign demand. Landed home values are expected to rise between 3% and 5%, with activity concentrated between the $5m and $10m price bands.

Realion Group projects private home prices to rise moderately by 2.5% to 4.5% in 2026, broadly in line with recent years. “We estimate that about 23,500 to 25,500 private homes could be sold in 2026,” said Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group, citing fewer launches.

Huttons Asia expects up to 27 private residential launches comprising about 11,171 units in 2026. “Developers’ sales may be as high as 10,000 units,” said Mark Yip, chief executive officer of Huttons Asia, with prices forecast to grow between 2% and 5%.

Overall, consultancies expect 2026 to be a year of moderation rather than reversal, with steady price growth supported by lower borrowing costs even as sales volumes and rents normalise amid a leaner launch pipeline.

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