1Q 2026 URA Private Residential Report: Private Housing Market Consolidates in 1Q 2026; New Launch Demand Remains Resilient Amid Lower Supply

SINGAPORE, 1 April 2026 – According to flash estimates released by URA for 1Q 2026, the All-Residential Property Price Index rose modestly by 0.3% quarter-on-quarter. Based on caveat data as of 26 March 2026, total private home transactions declined by 39.7% q-o-q to 4,041 units, from 6,699 units in 4Q 2025.

The overall non-landed private property price index rose by 1.0% quarter-on-quarter to 210.2 in 1Q 2026, reversing the 0.2% decline in 4Q 2025. This is driven by non-landed prices in the Outside Central Region (OCR). 

• Prices in the OCR continued to rise, increasing by a sharp 1.0% q-o-q, while the Rest of Central Region (RCR) recorded a 0.9% increase. 
• The Core Central Region (CCR) experienced a slight increase of 0.4% due to the two launches, Newport Residences and River Modern, that performed well despite new benchmark prices. 
• Landed property prices reversed the 3.4% quarter-on-quarter increase in 4Q 2025. This quarter saw a 1.8% decrease as transactions fell.

“Private home prices remained broadly stable in 1Q 2026, even as transaction volumes pulled back sharply. This reflects a market that is consolidating following the strong launch-driven momentum in the second half of 2025. The moderation in activity was largely due to seasonal factors and a tighter launch pipeline, which limited immediate buying opportunities," said Marcus Chu, Chief Executive Officer, ERA Singapore. 

“What we are seeing is not a slowdown in demand, but a pause in activity due to supply timing.”

“The decline in volumes was mainly due to seasonal factors and supply constraints. With fewer new launches in the quarter, buyers faced limited immediate choices, resulting in a natural decrease in transactions.”

“At the same time, demand remained focused on new launches. Projects that entered the market continued to attract strong interest, pulling buyers away from the resale and sub-sale sectors, which experienced softer activity.”

“The divergence between regions also reflects shifting buyer preferences. Demand in the OCR and RCR remains resilient, supported by HDB upgraders and owner-occupiers, while the CCR is more sensitive to launch timing and pricing benchmarks.”

“Looking ahead, transaction volumes are expected to rebound alongside a healthier pipeline of launches. With underlying demand still strong and economic fundamentals resilient, price growth is projected to stay gradual and sustainable throughout the year.”

New Sale (Non-Landed Homes, Excluding ECs) 

“According to caveats as of 26 March 2026, new sale transactions declined by 60.0% quarter-on-quarter to 1,294 (excluding EC) units in 1Q 2026. The slowdown was mainly due to a smaller launch pipeline, with only six developments launched during the quarter, including two ECs. 

Despite the decline in volumes, underlying demand remained firm, with projects continuing to attract strong take-up rates. Projects entering the market continued to attract substantial interest, reflecting sustained buyer confidence despite global uncertainty. This has contributed to the slight increase in the price index of 0.3% despite muted transaction quantity in reference to the previous quarter.

Notably, half of the launches in 1Q 2026 achieved take-up rates of at least 90% at launch. This highlights the strong demand in Singapore’s housing market, especially for well-located and competitively priced developments.

The performance also highlights an important trend. Buyers today are more selective, but remain highly decisive when a project meets their expectations on pricing, location, and product quality,” noted Chu.

CCR Market Segment

“CCR prices increased by 0.4% in 1Q 2026, reversing the 3.5% decline from the previous quarter. This is largely due to the strong sales performance of the two CCR launches in the first quarter, with Newport Residences and River Modern achieving take-up rates of 74% and 92% so far.

Compared to 2025, the CCR market segment is expected to see lower new-home supply this year. With only about 1,465 CCR units scheduled to be launched in 2026, nearly half of that supply was already introduced in the first quarter. This early rollout of launches provided price support for the CCR segment.

River Modern’s robust sales performance, selling 93% of its units in the quarter, highlights the sustained appeal of well-positioned CCR developments. Its high demand reflects interest from upgraders and young families looking for family-friendly layouts, integrated commercial spaces, MRT access, and proximity to good schools, balancing liveability with investment value in a prime District 09 location. 

The project’s higher median price of $3,216 psf, compared to $2,949 psf at Skye at Holland in the previous quarter, also lifted overall CCR price benchmarks,” Chu added. 

RCR Market Segment

“Despite no new launches in the RCR in 1Q 2026, prices still increased by 0.9%. This is despite new sales transactions in the RCR falling 76.6% to 357 transactions.

With new OCR launches entering the market at benchmark prices, previously launched RCR projects have become comparatively more attractive to buyers. For instance, 99-year leasehold projects such as Bloomsbury Residences and Pinetree Hill both sold 36 units each, at a median of $2,549 psf and $2,571 psf respectively, lower than the RCR median of $2,672 psf.

In District 15, where no new launches are expected in 2026, buyers have also been drawn to remaining inventory at developments such as The Continuum, Arina East Residences and Grand Dunman. Against the backdrop of rising OCR price benchmarks in the East, these projects present a relative value proposition, supporting steady absorption and underpinning price resilience within the RCR segment.” noted Chu.

OCR Market Segment

“1Q 2026 saw two OCR launches, marking a relatively cautious start to the year. The OCR continues to be supported by a strong upgrader pool, particularly from HDB owners unlocking significant housing equity.

OCR projects are attractive due to their affordability and closeness to established HDB estates. Most buyers favour upgrading within the same town, attracted by familiarity, available amenities, and community connections. 

Among the launches, Pinery Residences was the top performer, with over 92% take-up at launch. This highlights the strong demand for well-sited OCR developments in mature estates.

Its success was driven by a compelling value proposition - a mixed-use development with direct MRT access, located in Tampines, one of Singapore’s most established regional centres. Such attributes continue to resonate strongly with young families and owner-occupiers. The strong take-up was also supported by healthy growth. 

HDB resale activity in Tampines included 88 million-dollar flat transactions and 2,660 MOP flats in 2025 and 2026. With a large supply of recently MOP-ed flats and a steady stream of million-dollar transactions, many upgraders are entering the market with significant housing equity. 

Looking ahead, OCR price growth is expected to remain resilient. With nearly two-thirds of upcoming launches concentrated in this segment, projects in established estates such as Serangoon, Bishan and Bedok are likely to see healthy demand, supported by strong connectivity, amenities and a deep upgrader pool,” Chu said.

Executive Condo (EC)

“1Q 2026 saw the launch of two EC projects, Rivelle Tampines and Coastal Cabana in Pasir Ris, both of which were met with strong demand. As the final EC launches in the East for the foreseeable pipeline, buyers moved decisively, with the two projects launched in the quarter tallying a total of 1,133 units to date.”

The strong demand underscores the enduring appeal of ECs as a more affordable option for accessing private housing. Despite rising prices, ECs still offer a substantial price difference from private condominiums, attracting HDB upgraders. Schemes such as the Deferred Payment Scheme and CPF Housing Grants enhance affordability, aiding buyers in managing initial costs and securing a new home more easily.

Rivelle Tampines’ 92% take-up at launch highlights the significant pent-up demand, especially in mature estates where new EC supply is scarce. Moving forward, the next phase of EC launches will mainly be in the North and West, with no immediate plans for supply in the East. This geographical change underscores the limited EC options in mature eastern estates, which have been a key factor driving demand in recent launches,” noted Chu.

Resale and Sub-Sale (Non-Landed Homes, Excluding EC) 

“In 1Q 2026, resale transactions for non-landed private homes (excluding ECs) declined by 41.9% quarter-on-quarter to 2,051 units, reaching the lowest level since 2Q 2020 and ending a consistent run of about 3,000 transactions per quarter seen in recent periods. The slowdown indicates a clear shift in buyer focus towards the primary market. A strong pipeline of new launches in desirable locations has reduced demand in the resale segment.

At the same time, a leaner completion pipeline in 2025 has limited the flow of new resale stock, further contributing to the decline in transactions. Despite lower volumes, resale prices have remained resilient. Median prices stayed broadly stable at around $1,763 psf, emphasising the underlying strength of the market.

This divergence between volumes and prices suggests that while buyers are more selective, sellers remain firm, supported by strong underlying fundamentals. Well-located and competitively priced resale units continue to attract buyers.

As new launch activity accelerates in the coming quarters, resale volumes might stay subdued in the short term, but price stability is expected to continue, supported by strong fundamentals and limited supply,” added Chu.

Subsale

“Sub-sale transactions fell sharply by 54.8% quarter-on-quarter to just 104 deals in 1Q 2026, marking the lowest quarterly level since 1Q 2021.

The decline results from fewer recent completions and a growing buyer interest in new launches, which continue to attract market attention. Despite the decrease in volumes, sub-sale prices increased by 9.9% quarter-on-quarter to $2,317 psf, boosted by a higher share of transactions in integrated developments.

Nearly one-third of sub-sale transactions involved integrated projects such as The Woodleigh Residences, Pasir Ris 8, and Sengkang Grand Residences, which generally command a premium due to their connectivity and built-in amenities. This emphasises a key trend - buyers are prepared to pay for convenience and quality, particularly in developments that offer direct access to transport hubs and retail options.

Looking ahead, with only a modest increase in completions expected in 2026, both resale and sub-sale supply are likely to stay limited. This could continue to direct demand towards the primary market, supporting new launch performance,” Chu said.

Landed Homes

“Based on caveats, landed home transactions fell by 29.8% q-o-q to 403 units in 1Q 2026. This seasonal dip is consistent with historical trends, where activity typically slows in the first quarter.

Market activity remains limited due to a pricing deadlock. Sellers are standing firm on their expectations, considering the increased costs of replacement homes, while buyers, especially those upgrading from condominiums, are more sensitive to prices as gains in the non-landed segment slow down. 

Despite the near-term slowdown, demand for landed homes remains fundamentally strong. These properties continue to be seen as a long-term store of value and a vital wealth asset.

Additionally, the prevailing interest rate environment sustains buying confidence among high-income earners, boosting demand for landed homes.

Demand for landed homes remains steady. Beyond their prestige, they are appreciated for long-term capital preservation and growth, with the current lower interest rate environment further boosting demand from high-net-worth and high-income buyers,” added Chu.

Market Outlook

“While price growth in 1Q 2026 moderated to 0.3%, the market remains on track to achieve ERA’s full-year forecast of 3% to 5%.

Despite ongoing geopolitical uncertainties, Singapore continues to stand out as a safe haven, supported by stable governance, sound economic policies, and a resilient housing market.

Strong demand at recent launches, together with competitive bidding for GLS sites, reflects continued confidence from both homebuyers and developers.

Looking ahead, transaction activity is expected to pick up alongside a healthier pipeline of launches. The market will likely remain resilient, with moderate and sustainable price growth driven by genuine owner-occupier demand and right-sizing needs.

ERA projects new home sales of 9,000 to 10,000 units in 2026, with secondary market transactions reaching 13,000 to 14,000 units, signalling a stable and balanced market outlook for the year ahead.” Chu noted. 

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: [email protected]

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