— The flash estimate of URA’s price index for private residential properties in Q1 2026 shows that Singapore’s private housing price growth eased for a third consecutive quarter, rising 0.3% q-o-q in Q1 2026 after recording 0.6% q-o-q growth in Q4 2025, and 0.9% in Q3. We note that this set of figures have yet included Pinery Residences which launched and sold over 90% over the 28 March weekend at record price point of over $2,500 psf for Tampines, so the final Q1 figures may be higher.
Based on caveats downloaded from realis on 1 Apr 2026, 1,372 new private homes (excl. ECs) were sold in Q1 2026, down 53.3% from the high base of 2,940 units in Q4 2025 on fewer launches due to the Chinese New Year lull in February. Including the reported 544 units sold at Pinery Residences over its launch weekend however, volumes would be down less significantly by 34.8% q-o-q to 1,916 units.
URA Q1 2026 flash
Flash estimates show that private home prices rose 0.3% q-o-q in Q1 2026, moderating from the 0.6% q-o-q increase in Q4 2025.
Q1 2026’s private home price increase was driven by non-landed properties which rose 1.0% q-o-q growth, rebounding from the 0.2% q-o-q decline in Q4 2025. In contrast, the landed home price index corrected 1.8% q-o-q, after rising 3.4% in Q4 2025.
Prices in the non-landed segment rose across all market segments, led by the OCR which saw 1.3% q-o-q growth amid benchmark prices at new launches in the quarter. This was followed by the RCR which posted 0.9% q-o-q growth while the CCR lagged with a 0.4% q-o-q increase on attractive pricing at prime launches in Q1 2026.
- CCR’s Q1 underperformance could have been attributed to attractive pricing at the new 999-year CBD launch Newport Residences (246 units) which moved 140 units or 57% of total units over its launch weekend. Based on Realis caveats as of today (1 Apr 2026), 183 units have been sold at a median price of $3,069 psf.
- New OCR launch Narra Residences (399 units) set new benchmark prices in the Dairy Farm district. 138 units were sold at a median price of $2,148 psf.
Outlook
Despite heightened volatility and economic uncertainty from the ongoing Middle East conflict which started on 28 February, homebuying appetite has remained resilient so far, with robust take-up observed at recent new launches in March. Developers have also remained bullish in the two Government land sales tenders that closed in March – Lentor Central and Dover Drive which both received benchmark top bid prices. However, a protracted conflict could increase caution among homebuyers, who may become more discerning in their purchase decisions. Competitive and realistic developer pricing will be critical.
Barring economic shocks, a decent pipeline of attractive new launches for the rest of the year and low mortgage rates are likely to continue supporting sales momentum. CBRE Research expects 7,500 – 8,500 new homes to be sold in 2026. This would be a moderation from the high base of 10,815 units in 2025, largely on fewer launches and the normalisation of pent-up demand after above-trend volumes last year.
Correspondingly, private home prices, which rose 3.3% in 2025, could grow at a slower or similar pace in 2026. We maintain our private home prices to grow 2 – 4% in 2026 for now, relatively in line with MTI’s most recent 2026 GDP growth forecast of 2 – 4%, which is a moderation from the 5% GDP growth for 2025, and which has yet account for any potential impact from the Middle East conflict.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
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