# Private home prices inch up 0.5% while HDB resale prices slip further by 0.3% in Q2: flash data

- **Source:** The Business Times
- **Published:** 2026-07-01T01:02:07.000Z
- **Author:** Ry-Anne Lim
- **Original:** https://www.businesstimes.com.sg/property/private-home-prices-inch-0-5-while-hdb-resale-prices-slip-further-0-3-q2-flash-data
- **Topics:** HDB & Public Housing, Private Residential, Government & Policy

## Featured rationale

Outperformance by landed homes and CCR condominiums signals uneven demand that could widen wealth and affordability gaps while restraining prices in suburban and city-fringe segments.

## AI summary

Private-home prices rose 0.5 per cent in Q2 2026 as HDB resale prices fell 0.3 per cent, with landed homes gaining 2.6 per cent.

## Original article

[SINGAPORE] Rising prime property prices held up the private residential market in the second quarter, while home prices in all other segments fell, along with public housing resale values.

Private residential prices rose 0.5 per cent in Q2 2026, as public housing resale prices inched down a further 0.3 per cent, government flash estimates released on Wednesday (Jul 1) showed.

While the overall private property price index continued to rise, albeit slower than its 0.9 per cent increase in the first quarter, movements were markedly uneven.

Landed home prices jumped 2.6 per cent in Q2, in contrast to the non-landed segment where prices slipped 0.1 per cent.

Across regions, the difference was more stark: Core Central Region (CCR) condominiums gained 2 per cent while prices in the Rest of Central Region (RCR) or city fringe fell 1.4 per cent. In the Outside Central Region (OCR), suburban condo prices also slipped, by 0.2 per cent.

Overall, the price increase for H1 2026 amounted to 1.4 per cent – the smallest change recorded in the first half since 2020, when prices fell 0.7 per cent, noted Realion Group chief researcher and strategist Christine Sun.

Asean Intelligence

Huttons Asia chief executive Mark Yip pointed out that the OCR accounted for 60 per cent of transactions in Q2. Hence, relative lower prices in the region would have weighed down the overall index.

One example was the new Tengah Garden Residences, which had “overwhelming take-up” due to its “attractive” pricing relative to other recent OCR launches, said Tricia Song, CBRE research head for Singapore and South-east Asia.

The project was one of three new launches in the quarter, and Tengah’s first private condo launch. It moved 99 per cent of its 863 units over the launch weekend in April at an average price of S$2,120 per square foot (psf).

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With more suburban units transacted in Q2, Sun noted that the number of private homes, excluding executive condos (ECs), sold below S$2 million nearly doubled to 1,016 units, from 631 in Q1.

On a per square foot (psf) basis, the number of new private homes, excluding ECs, that changed hands under S$2,000 psf also jumped to 144 units in Q2, from 24 units previously.

Similarly, condo prices in the RCR could have been held down by the sole new launch during the quarter, Hudson Place Residences at one-north.

It sold 218 units, or two-thirds of its 327 units, at a median price of S$2,467 psf in the quarter, 2 per cent lower than the median price of S$2,518 psf recorded at the neighbouring Bloomsbury Residences, when it came to market in April 2025, Song noted.

Prices remain high at the top end

At the top end of the market, landed home prices are now at its highest ever, said Leonard Tay, Knight Frank Singapore research head.

Kelvin Fong, chief executive of PropNex, noted that the growth in prices came amid “relatively stable market activity”.

Caveats data showed around 491 landed home transactions in Q2, a notch lower than the 509 deals recorded in Q1. But average unit prices rose across the board, with quarter-on-quarter increases of 3.3 to 5.9 per cent.

The price rise, despite little change in sales volumes, suggests that demand continues to support prices in a tightly supplied market, said Fong.

In the prime condo segment, ERA chief executive Marcus Chu observed that prices held firm in Q2 despite an absence of new launches. CCR sales also plunged, to 596 units as at Jul 1, from 1,223 units in Q1.

Song pointed to existing CCR launches, such as the 455-unit River Modern and 348-unit The Robertson Opus, which saw higher median prices in Q2 as “buyers scooped up remaining units”.

Overall, private home sales volume held fairly stable in Q2, with 5,420 transactions recorded, up marginally from 5,413 in the previous quarter.

Of these, new sale volume rose 3.5 per cent quarter on quarter to 2,093 units, excluding ECs, even as fewer new homes hit the market – at 1,705 units, down from 1,844 units in the prior quarter, said Mohan Sandrasegeran, SRI head of research and data analytics.

Average take-up rate rose to 77.5 per cent in Q2, from 70.5 per cent in Q1.

ERA’s Chu said that, in the secondary market, volume fell 18.3 per cent to 2,634 units – its lowest level since Q2 2020. It was also a “departure from the stable pattern of (around) 3,000 resale units per quarter” in the previous eight quarters.

He believes this was mainly due to the seasonal school holiday lull in June, with many potential homebuyers travelling abroad. Even so, the median resale price of non-landed private homes, excluding ECs, continued to rise, up 1.5 per cent quarter on quarter to S$1,792 psf.

Growing gap?

The private market’s mixed performance comes as HDB resale prices eased further, declining by 0.3 per cent in Q2, after a 0.1 per cent drop in the prior quarter. 

Sandrasegeran noted that this brought price change for H1 to minus 0.4 per cent. 

Pointing to the difference between how prices moved at the top of the residential market compared to the HDB resale market, Mogul.sg’s chief research officer Nicholas Mak observed that “the diverging growth rate of the private and public housing prices represents a growing wealth gap between the richest 25 per cent of the population and the masses”.

Transaction volume of resale flats held steady at 6,268 units in Q2, from 6,285 in the previous quarter. Year on year, this was a 10.2 per cent decrease from the 6,981 units recorded in the same period last year.

Yip from Huttons Asia expects up to 12 new condo projects in the second half of the year, with 3,567 units to launch. Major ones include the 380-unit Dunearn House and the 499-unit Lentor Gardens Residences in July; the 570-unit Lucerne Grand in Jurong in September; as well as the 1,240-unit Thomson Reserve and 133-unit The Serra Residences around September/October.

With fewer units expected to come to market in H2, Huttons has adjusted its full-year projection for sales volume to between 7,500 and 9,000 units, from 8,000 to 10,000 units previously.

“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,” added Song from CBRE.

Analysts expect private home prices to show a 2.5 to 5 per cent increase for the year, while change in the HDB resale market may range from -2 to 5 per cent.

## Chinese translation

> Translation model: grok

### 快报数据：第二季私宅价格微升0.5%，HDB转售价格再跌0.3%

有地住宅与核心中央区领涨，优质市场约涨2%；其他区域价格则出现下跌。

【新加坡】第二季优质物业价格上涨撑起私人住宅市场，而其他所有板块房价均下跌，公共组屋转售价格亦同步回落。

政府于周三（7月1日）发布的快报估计显示，2026年第二季私人住宅价格上涨0.5%，公共组屋转售价格则再微跌0.3%。

整体私宅价格指数虽继续上升，但增速低于第一季的0.9%，且走势明显不均。

有地住宅价格在第二季跳升2.6%，而非有地板块价格则微跌0.1%。

各区域差异更为鲜明：核心中央区（CCR）共管公寓上涨2%，其余中央区（RCR）或称城市边缘价格下跌1.4%。中央区以外（OCR）郊区共管公寓价格亦下滑0.2%。

Realion集团首席研究员兼策略师孙燕清（Christine Sun）指出，2026年上半年整体价格涨幅为1.4%——为2020年上半年价格下跌0.7%以来，上半年最小变动。

Asean Intelligence

Huttons Asia首席执行官叶伟杰（Mark Yip）指出，第二季OCR成交占比达60%。因此，该区域相对较低的价格会拖累整体指数。

世邦魏理仕（CBRE）新加坡及东南亚研究主管宋秀青（Tricia Song）举例称，新建的Tengah Garden Residences因相对近期OCR新盘“吸引人”的定价而获“热烈认购”。

该项目是本季三个新盘之一，也是登加首个私人共管公寓项目。4月推盘周末售出863个单位中的99%，平均价格为每平方英尺2,120新元。

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随着第二季有更多郊区单位成交，孙燕清指出，售价低于200万新元的私宅（不含行政共管公寓EC）数量几乎翻倍，由第一季631个单位升至1,016个单位。

按每平方英尺计，成交价低于2,000新元/平方英尺的新建私宅（不含EC）亦由上季24个单位跳升至第二季144个单位。

同样，RCR共管公寓价格或受本季唯一新盘——纬壹科技城（one-north）Hudson Place Residences拖累。

宋秀青指出，该盘在本季售出218个单位，占327个单位的三分之二，中位价为2,467新元/平方英尺，较邻近Bloomsbury Residences于2025年4月入市时的中位价2,518新元/平方英尺低2%。

高端市场房价仍居高位

莱坊新加坡研究主管郑立伟（Leonard Tay）表示，在市场高端，有地住宅价格现已创历史新高。

PropNex首席执行官冯万喜（Kelvin Fong）指出，价格上涨是在“市场活动相对稳定”的背景下出现的。

Caveat数据显示，第二季有地住宅成交约491宗，略低于第一季的509宗。但平均单位价格全面上升，环比涨幅介于3.3%至5.9%。

冯万喜表示，成交量变化不大而价格仍升，说明在供应偏紧的市场中，需求继续支撑价格。

在优质共管公寓板块，ERA首席执行官朱志强（Marcus Chu）观察到，尽管没有新盘，第二季价格仍保持稳健。CCR成交亦大幅下滑，截至7月1日为596个单位，而第一季为1,223个单位。

宋秀青指出，现有CCR项目如455个单位的River Modern与348个单位的The Robertson Opus，第二季中位价更高，因“买家抢购剩余单位”。

整体而言，第二季私宅成交量相当稳定，录得5,420宗，略高于上季的5,413宗。

SRI研究与数据分析主管Mohan Sandrasegeran表示，其中新盘成交量（不含EC）环比上升3.5%至2,093个单位，尽管入市新盘更少——为1,705个单位，低于上季的1,844个单位。

平均认购率由第一季的70.5%升至第二季的77.5%。

ERA的朱志强表示，二级市场成交量下跌18.3%至2,634个单位——为2020年第二季以来最低。这也“偏离了此前八个季度每季约3,000个转售单位的稳定格局”。

他认为这主要由于6月学校假期的季节性淡静，许多潜在购房者出国旅行。即便如此，非有地私宅（不含EC）转售中位价继续上升，环比上涨1.5%至1,792新元/平方英尺。

差距在扩大？

私人市场表现分化之际，HDB转售价格进一步走软，第二季下跌0.3%，上季跌幅为0.1%。

Sandrasegeran指出，这使得上半年价格变动为负0.4%。

Mogul.sg首席研究官麦俊荣（Nicholas Mak）指出住宅市场顶端与HDB转售市场走势差异时表示：“私人与公共住房价格增速分化，反映了人口中最富裕的25%与大众之间不断扩大的财富差距。”

转售组屋成交量保持平稳，第二季为6,268个单位，上季为6,285个单位。同比则较去年同期6,981个单位减少10.2%。

Huttons Asia的叶伟杰预计下半年最多有12个新共管公寓项目、3,567个单位推出。主要项目包括7月推出的380个单位Dunearn House与499个单位Lentor Gardens Residences；9月裕廊的570个单位Lucerne Grand；以及约9月/10月的1,240个单位Thomson Reserve与133个单位The Serra Residences。

鉴于下半年预期入市单位减少，Huttons已将全年销量预测调整为7,500至9,000个单位，此前为8,000至10,000个单位。

CBRE的宋秀青补充说：“这将是在2025年10,815个单位高基数上的放缓，主要因推盘减少及去年超趋势成交后积压需求的正常化。”

分析师预计全年私宅价格上涨2.5%至5%，而HDB转售市场变动可能介于-2%至5%。