# Private home prices accelerate with 1.4% rise while HDB resale values dip further in Q3: flash data

- **Source:** The Business Times
- **Published:** 2026-10-01T01:06:56.000Z
- **Author:** Ry-Anne Lim
- **Original:** https://www.businesstimes.com.sg/property/private-home-prices-accelerate-1-4-rise-while-hdb-resale-values-dip-further-q3-flash-data
- **Topics:** HDB & Public Housing, Private Residential, Government & Policy

## Featured rationale

The divergence signals tight private-home inventory and upgrading demand alongside broader HDB price moderation, potentially sustaining selective price growth despite weaker private transaction volumes.

## AI summary

Singapore private home prices rose 1.4% in Q3 2026 despite a 30% transaction decline, while HDB resale prices fell 0.2% for a third quarter.

## Original article

[SINGAPORE] Private residential prices rose 1.4 per cent in the third quarter of 2026, even as resale public housing values inched down a further 0.2 per cent, government flash estimates released on Thursday (Oct 1) showed.

The rise in the private residential property price index accelerated in Q3 from the slight 0.5 per cent gain in the second quarter, led once again by a faster increase in landed homes.

Prices in the landed segment rose 2.8 per cent, picking up from a 2.5 per cent growth in the prior quarter.

Knight Frank research head Leonard Tay noted that landed prices have risen 4.9 per cent in the year thus far, with the latest flash estimate pointing to another potential record high for the index.

Although transaction volume remained stable – ranging between 500 and 600 units in each quarter this year – Tay said that prices continue to climb as “aspirational homebuyers” look to upgrade from the non-landed market.

For non-landed residences, the suburban market in the Outside Central Region (OCR) registered the biggest rise of 2.2 per cent, swinging from a 0.1 per cent dip previously.

Prices in the city fringe Rest of Central Region (RCR) edged up 0.2 per cent, reversing from a 1.2 per cent decline in Q2; while that of the Core Central Region (CCR) inched down 0.1 per cent, turning from a 1.8 per cent gain in the preceding three months.

This puts overall price growth in the first nine months of 2026 at 2.8 per cent, marginally higher than the 2.7 per cent increase recorded in the same period last year, noted Mohan Sandrasegeran, SRI head of research and data analytics.

The sales volume of private homes fell 30 per cent in Q3, with 4,296 transactions recorded as at mid-September, from 6,148 in the previous quarter. For the year to date, transaction volume dropped nearly 20 per cent to 15,857, from 19,793 in the same period last year.

Analysts attributed the drop in overall sales to a dearth of new launches in the quarter, as developers held back on marketing new projects during the month-long Hungry Ghost Festival.

Government data indicated that 1,068 new private homes were transacted in Q3 as at Sep 20. This potential makes it the lowest quarterly sales tally so far this year, said PropNex chief executive Kelvin Fong.

In the secondary market, caveats data showed around 3,109 private home transactions in the quarter, down from 3,813 units in Q2.

Still, Fong pointed out that a larger proportion of new homes sold in Q3 fetched higher prices. PropNex data showed that the share of new non-landed homes, excluding executive condominiums, which sold for more than S$2.5 million rose from 30.6 per cent to 44.6 per cent of transactions in the quarter.

This trend was evident across all regions, he said. “Even so, the bulk of the transactions remains in the middle bands, (with) about 52 per cent of new homes sold in Q3... priced between S$1.5 million and... S$2.5 million.”

The median price of a new non-landed private home also rose 9.6 per cent to S$2,567 per square feet (psf) in Q3. By contrast, resale prices fell 1 per cent to S$1,772 psf.

“With few new projects competing for buyers and a tight unsold inventory, several ongoing projects were sold at modestly higher prices in Q3 than in Q2,” said Fong. This helped drive the increase in non-landed private home prices in the quarter.

In the public housing market, data from the Housing & Development Board (HDB) showed a further easing of prices, with a 0.2 per cent decrease in Q3.

This marks the third consecutive quarter of resale prices falling, after a 0.3 per cent dip in Q2 and a 0.1 per cent decline in the first quarter.

Despite the dip in resale prices, Nicholas Mak, Mogul.sg chief research officer, noted that the top end of the HDB market had been “growing from strength to strength”.

Million-dollar transactions rose 17.1 per cent quarter on quarter to around 575 units in Q3, he said. At the same time, the number of HDB resale flats sold for more than S$1.5 million increased 60 per cent to 24 units.

Meanwhile, overall transaction volumes of resale flats rose 17.7 per cent to 7,528 units as at Sep 29, from 6,396 units in the previous quarter. Year on year, this was a 5.2 per cent increase from the 7,157 units recorded in the same period last year.

HDB said that it has not observed a significant increase in prices and sales volumes in flats purchased by existing and former private residential property owners since the 15-month wait-out period was lifted on Jul 28.

## Chinese translation

> Translation model: openai_codex_cli

### 预估数据显示：第三季私人住宅价格加速上涨1.4%，HDB转售价格进一步下跌

私人住宅季度交易量萎缩30%，而HDB交易量增长17.7%

[新加坡] 周四（10月1日）公布的政府预估数据显示，2026年第三季度私人住宅价格上涨1.4%，即使公共组屋转售价格进一步小幅下跌0.2%。

私人住宅房地产价格指数第三季涨幅从第二季度轻微上涨0.5%加速，再次由有地住宅较快上涨带动。

有地住宅领域价格上涨2.8%，高于上一季度2.5%的增幅。

Knight Frank研究主管Leonard Tay指出，有地住宅价格今年迄今已上涨4.9%，最新预估显示该指数可能再创新高。

Tay表示，尽管交易量保持稳定，今年每个季度介于500至600个单位之间，但随着“抱有升级置业愿望的购房者”希望从非有地住宅市场升级，价格继续攀升。

非有地住宅方面，郊区市场即中央区以外地区（OCR）录得最大涨幅，为2.2%，扭转此前0.1%的跌幅。

城市边缘的其他中央区（RCR）价格小幅上涨0.2%，扭转第二季1.2%的跌幅；核心中央区（CCR）则小幅下跌0.1%，较前三个月1.8%的涨幅转弱。

SRI研究与数据分析主管Mohan Sandrasegeran指出，这使2026年前九个月整体价格增长达到2.8%，略高于去年同期录得的2.7%增幅。

私人住宅销售量在第三季下跌30%，截至9月中旬录得4,296宗交易，低于上一季度的6,148宗。今年迄今，交易量从去年同期的19,793宗下降近20%至15,857宗。

分析师将整体销售下降归因于本季度新项目推出匮乏，因为发展商在为期一个月的农历七月期间推迟营销新项目。

政府数据显示，截至9月20日，第三季成交了1,068套新私人住宅。PropNex首席执行官Kelvin Fong表示，这可能使其成为今年迄今季度销售总数最低的一季。

在二级市场，产权禁令数据（caveats data）显示，本季度约有3,109宗私人住宅交易，低于第二季的3,813个单位。

不过，Fong指出，第三季售出的新住宅中，较大比例取得了更高价格。PropNex数据显示，售价超过250万新元的新非有地住宅（不包括执行共管公寓）占交易比例，从本季度的30.6%升至44.6%。

他说，这一趋势在所有地区都很明显。“即便如此，大部分交易仍处于中间价位，（其中）第三季约52%的新住宅售价介于150万新元至250万新元之间。”

新非有地私人住宅的中位价第三季也上涨9.6%，至每平方英尺（psf）2,567新元。相比之下，转售价格下跌1%，至每平方英尺1,772新元。

Fong表示：“由于竞争买家的新项目较少，且未售库存紧张，第三季多个在售项目的售价较第二季温和提高。”这推动了本季度非有地私人住宅价格上涨。

在公共组屋市场，建屋发展局（HDB）数据显示，价格进一步放缓，第三季下降0.2%。

这是转售价格连续第三个季度下跌，此前第二季下跌0.3%，第一季度下跌0.1%。

尽管转售价格下跌，Mogul.sg首席研究官Nicholas Mak指出，HDB市场的高端部分一直“越来越强”。

他说，百万新元交易按季增长17.1%，第三季达到约575个单位。与此同时，售价超过150万新元的HDB转售组屋数量增加60%，至24个单位。

同时，截至9月29日，转售组屋整体交易量从上一季度的6,396个单位增长17.7%至7,528个单位。按年比较，这较去年同期录得的7,157个单位增加5.2%。

HDB表示，自7月28日取消15个月等候期以来，并未观察到由现有及前私人住宅业主购买的组屋在价格和销售量上出现显著增加。