After an 84.6% month-on-month plunge in December, Singapore’s private residential primary market registered a marked January 2026 rebound, with developer sales excluding executive condominiums (ECs) rising to 466 units from 197 and total transactions including ECs climbing to 990 units from 234, the strongest monthly outcome since October 2025. The uplift coincided with 1,534 new units launched across segments, while the Outside Central Region (OCR) accounted for 71% of total sales including ECs, underscoring the continued predominance of mass-market demand in headline absorption.
January 2026 saw a sharp rebound: developer sales hit 466 and total transactions 990, led by OCR’s 71% share.
Launch-driven performance was concentrated in a small number of projects, with Coastal Cabana leading monthly take-up after selling 504 units at a median $1,790 per square foot (psf). Its scale and pricing anchored EC segment demand, helping lift the all-in transaction tally, and reinforcing the operational linkage between primary sales volumes and new supply delivery.
Narra Residences contributed a further 122 units at a median $2,148 psf, with demand characterised as coming from Housing & Development Board (HDB) upgraders, a cohort typically sensitive to absolute quantum and mortgage-servicing constraints. In the Core Central Region (CCR), Newport Residences launched as a higher-end option, consistent with the pattern of smaller, boutique developments in prime districts. Globally, improving affordability conditions offer a useful parallel, with 30-year fixed mortgage rates in markets such as the United States projected to ease to approximately 6.3% in 2026, marginally reducing monthly payment burdens for buyers.
The January bounce followed an active 2025 pipeline, when 11,482 new private units were launched, up 72.7% year-on-year, and 10,815 units were sold, up 67.2% year-on-year, alongside private home price growth that eased to 3.3%. City Developments Limited’s execution illustrated the market’s capacity to clear inventory at scale, with 1,489 of 1,502 launched units sold, supporting the view that well-positioned projects can achieve rapid sell-through even amid moderated price appreciation. Savills projects private residential prices to rise about 3% in 2026.
Land-market indicators remained firm into early 2026, with Government Land Sales (GLS) residential sites averaging $1,463 psf per plot ratio (ppr) by February 2026 and an annual land price increase averaging 5.5% since 2019. By end-2025, CCR land bids rose 7.9% to $1,521 psf ppr, RCR bids increased 8.3% to $1,234 psf ppr, and OCR bids surged 26.6% to $1,140 psf ppr, while bid intensity expanded to 6.8, 5.0, and 4.9 bids per site respectively, reflecting improved developer confidence. Separately, January 2026 also marked the strongest monthly performance since October 2025.
Looking ahead, first-half 2026 supply is projected at 4,575 private units, slightly below 4,725 previously, with 7,006 units expected to reach temporary occupation permit, and private home prices forecast to rise 3% in 2026 as rising land costs support moderate growth despite household income growth lagging prior price increases.
