The flash estimate of URAs price index for private residential properties in Q3 2026 shows that Singapore’s private home price growth accelerated.
— The flash estimate of URA’s price index for private residential properties in Q3 2026 shows that Singapore’s private home price growth accelerated. Prices rose 1.4% q-o-q in Q3 2026, after 0.5% growth in Q2 2026. This is the fastest quarterly increase since Q4 2024 when prices posted a 2.3% increase. This increase is led by landed homes and the Outside Central Region (OCR) non-landed homes which both rose above 2% q-o-q, while the Rest of Central Region (RCR) non-landed prices were flattish and Core Central Region (CCR) non-landed prices dipped marginally, reflecting divergent sentiment across the market segments during the quarter.
Based on caveats downloaded from Realis on 1 Oct 2026, 1,082 new private homes (excl. ECs) were sold in Q3 2026, down 49.5% from 2,141 units in Q2 2026 and also down 67% from 3,288 new home sales in Q3 2025. We believe new home sales have slowed due to lack of new launches as well as the high price points of new launches. Buyers are getting more selective in view of global economic uncertainty and rising interest rates.
URA Q3 2026 flash
Flash estimates show that private home prices rose 1.4% q-o-q in Q3 2026, accelerating from the 0.5% q-o-q increase in Q2 2026, and 0.9% in Q1 2026.
Landed properties led the increase. Landed prices rose 2.8% q-o-q, after a 2.5% gain in the previous quarter. The non-landed index rebounded 0.9% q-o-q, reversing the 0.1% decline in Q2 2026.
Price movement across the non-landed market segments reversed from Q2’s. The OCR outperformed, with prices rebounding 2.2% q-o-q, after slipping 0.1% in Q2. The RCR posted marginal growth, rising 0.2% q-o-q after falling 1.2% in Q2. In contrast, the CCR which led Q2 growth with a 1.8% increase saw prices dip 0.1% q-o-q in Q3 2026. On a rolling year-to-date basis, OCR rose the most at 4.3%, CCR rose 2.3%, while RCR was down 0.2% in the first nine months of 2026.
- The OCR’s outperformance could have been driven by new launch Lentor Gardens Residences (499 units), the seventh private home project in the Lentor precinct. Launched in July, the project sold 291 units at a median price of $2,357 psf in the quarter, 6.5% higher than the median price of $2,214 psf across units sold at the last Lentor launch Lentor Central Residences in March 2025, and setting a new benchmark price in the Lentor estate.
- The CCR’s mild decline follows a high base in Q2 when firm pricing at River Modern above $3,200 psf could have lifted the index. Q3’s main CCR launch was Dunearn House (380 units), the first project in the upcoming Bukit Timah Turf City masterplan, which sold 237 units at a median price of $3,107 psf in the quarter.
- The RCR was flattish, up 0.2% after falling 1.2% in Q2. With no new launch in Q3, prices are supported by continued sales at existing projects. These included Hudson Place Residences and One Marina Gardens. The former saw 33 units sold at a median price of $2,612 psf in Q3, 5.8% higher than the median price of $2,468 psf recorded in Q2. One Marina Gardens moved 29 units in Q3 at a median price of $3,060 psf, 3.5% higher than the $2,957 psf for units transacted for units since its launch in Apr 2025 to Q2 2026.
Outlook
Preliminary 9M 2026 new sales tally at 5,236 units, 33.5% lower than the 7,875 units sold in 9M 2025. The slower momentum this year has been a function of fewer launches and higher price points, coupled with a normalisation in demand after new sales posted a 4-year high in 2025.
Looking ahead, sales momentum could pick up in Q4 with some highly anticipated launches such as Thomson Reserve (1,268 units) and Lucerne Grand (570 units) at Lakeside. While we see some pent-up demand for these projects, take up will depend largely on the eventual pricing as buyers are more selective and could gravitate towards secondary sales as price gap between new launches and resales widened.
In the meanwhile, we keep our full year forecast of 7,500 – 8,500 new home sales in 2026. This already represents a moderation after above-trend sales of 10,815 units in 2025 and is slightly below the 5-year average (2021 – 2025) of 8,766 units.
Private home prices and non-landed homes have risen 2.8% and 2.1% respectively in 9M 2026 and could close 2026 at the higher end of our 2 – 4% forecast.
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