Singapore’s private residential market extended its uptrend at the start of 2026, as non-landed home prices increased 0.7% month-on-month in January based on National University of Singapore’s Singapore Residential Price Index (SRPI) flash estimates, aligning with a broader pattern of moderation that saw overall private home prices rise 0.6% quarter-on-quarter in 4Q25 and deliver a 3.3% full-year gain for 2025.
Singapore’s private residential uptrend continued into 2026: SRPI flash estimates show non-landed prices up 0.7% in January.
The January print came after Q4 2025, when private home prices rose 0.7% quarter-on-quarter, a fifth straight increase at the slowest pace of that stretch.
Beneath the headline, non-landed property prices edged down 0.1% in Q4 2025, reversing a 0.8% rise in Q3, while landed homes recorded gains that offset the condominium pullback.
Within the non-landed segment, the Core Central Region (CCR) posted the sharpest correction, with prices down 3.5% quarter-on-quarter in 4Q25 and CCR non-landed prices declining 3.2% after a 1.7% increase in Q3, although the region still recorded a 1.9% full-year gain.
By contrast, the Rest of Central Region rose 0.7% in 4Q25 for a 1.6% annual increase, and Outside Central Region non-landed prices expanded 1.0%, up from 0.8% in Q3.
Transaction indicators pointed to a start to 2026, as new private home sales climbed to 466 units in January, up from 197 units in December, with Singaporeans comprising 87% of purchases. With stabilizing rates and a post-Chinese New Year seasonal listing window, some buyers are positioning early in the year to lock in financing and pricing. Including executive condominiums, developers sold 990 units of new homes in January, reflecting the boost from fresh launches.
The local-buyer skew has been sustained, with Singaporeans representing 84.0% of private residential transactions in 4Q25, permanent residents 14.5%, and foreigners 1.2%, compared with 74.0% and 6.4% respectively in 1Q23.
Developments such as Newport Residences and Narra Residences contributed to sales traction across central and suburban submarkets, amid projections that new OCR launch prices could reach about S$2,400 per square foot, around 6% above 2025. This residential momentum sits alongside a strengthening commercial sector, where Singapore GDP growth reached 4.8% year-on-year in 2025, with office-using sectors expanding 4.1% over the same period.
On the supply side, unsold inventory fell to 15,007 units by end-2025, down 23.5% from 2024, while the pipeline totaled 55,600 units, implying 8,000–9,000 units per year, and new home sales are expected to normalize at 8,000–10,000 units in 2026.
Government Land Sales are slated to release over 25,000 private homes from 2025–2027, with forecasts putting the index at 231.00 in 2026.
