Private home prices set for 4% growth in 2026

This is fuelled by new launches and HDB upgrader demand.

Singapore’s private residential property prices rose 1.4% in the first half (H1) of 2026 and are expected to increase by 2% to 4% year-on-year for the full year, according to Cushman & Wakefield.

The price increase in H1 2026 was mainly supported by local demand, which accounted for about 83.6% of transaction volumes.

Despite the introduction of additional cooling measures and weaker-than-expected demand, prices are projected to continue rising, driven by demand for new launches and purchases by HDB upgraders.

Higher land and construction costs have also pushed up replacement costs, providing support for prices.

However, buying activity has slowed. Private home sales are estimated at 10,772 units in H1 2026, down 13.1% from a year earlier.

The decline reflects cautious buyer sentiment amidst economic uncertainty and fewer new launches.

New private homes launched for sale fell to 3,534 units in H1 2026, from 4,781 units in the same period in 2025.

Private residential rents are forecast to rise about 2% in 2026, supported by limited new supply and continued demand from international students.

A weaker expatriate market due to global economic uncertainty could weigh on rental growth.

The supply of completed private homes is expected to remain relatively tight, averaging 9,102 units annually between 2026 and 2030, below the 10-year average of 10,837 units.

Recent new launches have continued to see strong sales. Amongst major projects with more than 100 units launched in H1 2026, 85.7% sold more than half of their units during the period.

Low unsold inventory levels—below the 10-year average of 21,498 units—and steady demand for new launches have encouraged developers to continue acquiring land for future projects.

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Cushman & Wakefield

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