# Singapore luxury home sales grow as safe-haven appeal buoys investor demand

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-08T09:56:08.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/singapore-luxury-home-sales-grow-safe-haven-appeal-buoys-investor-demand
- **Topics:** Private Residential, Transactions & Deals, Investment & Capital Markets

## Featured rationale

The increase signals resilient demand from affluent domestic and international buyers, potentially supporting sensibly priced prime launches despite high foreign-buyer stamp duties.

## AI summary

Singapore recorded 353 landed and non-landed CCR homes sold for at least $5 million in 1H2026, the highest first-half volume in four years.

## Original article

Singapore’s luxury housing market saw steady performance in the first half of 2026, backed by demand for both prime condo and landed properties, according to analysts.

Research by Realion (OrangeTee & ETC) Group published on July 8 shows that a total of 353 landed and non-landed residential properties in the Core Central Region (CCR) sold for at least $5 million in 1H2026. The figure, which excludes bulk transactions involving more than one unit, represents a 24.7% jump y-o-y and the highest first-half volume in four years.

Luxury home sales for first half of the year

Luxury home sales also outperformed the broader private residential market. While 1H2026 luxury residential transactions were 54.8% higher compared to the 228 units sold in 1H2025, overall private home sales (excluding executive condos or ECs) across the same period fell nearly 12% y-o-y to 10,909 units.

Read also: Global luxury house prices up 3.6% in 2024, led by Seoul, Manila and Dubai: Knight Frank

Realion’s report highlights that investment appetite for luxury homes remains robust, likely supported by high-net-worth individuals (HNWIs) seeking assets for wealth preservation. In addition, the onset of the war in the Middle East, higher oil prices and other global uncertainties may have prompted investors to shift their wealth from riskier investments to properties.

Demand from new citizens, PRs

In a July research report, Knight Frank Singapore highlights that prime non-landed homes — which the firm defines as condo units of at least 2,500 sq ft located in Districts 1, 2, 4, 9, 10 and 11 — saw a total of 128 transactions in 1H2026.

While the number of deals is slightly below the 136 homes sold in 2H2025, average prices have grown by 8.3%, going from $2,483 psf in 2H2025 to $2,689 psf in 1H2026. As a result, total sales value in 1H2026 stayed on par with $1.1 billion logged in 2H2025.

For Nicholas Keong, head of residential and private office at Knight Frank Singapore, the higher prices reflect growing demand from new citizens and permanent residents (PRs).

In recent years, the government has increased the number of citizenships and permanent residencies granted to counter Singapore’s falling birthrates, he says.

This, in turn, has expanded the prime housing buyer pool. “Singapore’s safe haven status promoted certainty among those granted citizenship and permanent residencies, as some upgraded from tenancies to home ownership,” Keong notes.

Read also: Luxury condo sales volume down 3.5% q-o-q in 3Q2024: Huttons Asia

Singapore citizens and PRs based overseas are also showing increasing interest in acquiring Singapore properties as a means of “safe haven capital preservation”, he adds. “As a store of wealth, such properties can be leased until such time as the owners wish to return to Singapore.”

Boost in CCR condo sales from new launches

A key driver of the luxury housing market for the first six months of the year was the primary market, with CCR new home sales getting a boost from fresh launches.

According to a July research report by SRI, 761 new private non-landed homes were sold by developers in the CCR in 1H2026. This is the highest half-yearly sales volume since the 986 units shifted in 1H2023, says Mohan Sandrasegeran, head of research and data analytics.

The sales were underpinned by new projects, with SRI estimating 701 homes launched in the CCR in 1H2026. This is the highest number of new homes since 1H2022, when 847 units were launched. It is also over seven times higher than the 96 units launched in the first half of last year.

The launches in 1H2026 comprise the 246-unit Newport Residences, City Developments’ freehold development on Anson Road, and the River Modern, a 455-unit, 99-year leasehold condo by GuocoLand in River Valley. The projects launched in January and March, respectively.

Resale transactions of non-landed private homes in the CCR also stayed relatively resilient in 1H2026. Based on caveats as of July 6, 1,219 such homes changed hands in the first half of the year. While this is marginally lower than the 1,315 units sold in 1H2025, the volume remains above the 1,084 units sold in 1H2023, SRI’s Sandrasegeran points out.

Read also: GCB and luxury residential transactions declined in 2H2023 but prices remained stable: CBRE

More CCR condo transactions across all price segments

According to SRI, overall transaction volumes for CCR condos (comprising both new and resale deals) increased across all price segments in 1H2026. The $2 million to just under $3 million price segment saw the biggest increase, jumping 59.1% y-o-y to 627 units.

Activity in the ultra-luxury condo segment also saw a significant increase in the last quarter. Condo units in the CCR that fetched at least $10 million rose to 40 in 1H2026, up from 31 across the same period the year before.

Notwithstanding the overall growth across the different price segments, SRI observes differing trends between the new sale and resale markets.

“While newly launched projects attracted stronger demand within the mid-luxury price segments, the resale market continued to demonstrate resilience across the higher value price brackets despite an overall moderation in transaction volumes,” says Sandrasegeran.

The higher number of mid-luxury transactions in the primary market was largely supported by the launches of River Modern and Newport Residences, which introduced more units within these price brackets.

On the other hand, the steady demand for higher priced properties in the resale market point to affluent buyers seeking larger homes, immediate occupancy and unique properties in mature prime districts, where new supply remains limited, Sandrasegeran observes.

More purchases by foreigners

Demand for Singapore luxury homes among foreigners is also showing signs of recovery, following a drop after Additional Buyer’s Stamp Duty (ABSD) rates were raised in April 2023. According to SRI, the proportion of CCR condo purchases by foreign buyers saw a small uptick this year, rising from 3.3% in 1H2025 to 4% in 1H2026.

The improvement may reflect Singapore’s appeal as a safe haven destination amid ongoing geopolitical uncertainty, including the US-Iran conflict, notes Sandrasegeran.

Chinese buyers continued to make up the most number of CCR condo purchases by foreigners, with 104 units in 1H2026. The figure is higher than the 94 units in 1H2025.

US buyers were the second-largest cohort, with 51 deals, followed by Malaysia (35), Indonesia (33) and India (22).

Resilient landed activity, but fewer GCB deals

The landed housing market also stayed resilient, with a total of 544 landed homes worth $4.9 billion sold in 1H2026, according to Knight Frank. In comparison, 522 homes were sold for about the same total value in 2H2025.

Average prices saw slight growth, increasing by 1.7% from $2,067 psf in 2H2025 to $2,103 psf in 1H2026.

However, the Good Class Bungalow (GCB) market saw more muted performance. Based on Knight Frank’s analysis, eight GCBs were sold in the first half of the year, with a total sales value of $474.6 million, significantly below the 16 GCBs sold for $764.3 million in 2H2025.

Knight Frank notes buyers in the landed market are becoming more selective, resulting in longer negotiation periods. Price mismatches between buyers and sellers have contributed to the slower momentum.

Global wealth, new launches to continue supporting market

Looking ahead, tensions in the Middle East and persistent inflationary pressure may continue prompting investors to channel funds into Singapore’s residential market. “Global capital and HNWIs are expected to continue allocating funds to Singapore’s residential market, supported by the country’s safe-haven appeal,” Realion’s report states.

Knight Frank expects sales activity of prime non-landed homes to stay consistent. “Despite the 60% ABSD rate inhibiting foreign demand, upcoming new projects in the CCR could sell well if they are priced sensibly, with the added support of new citizens and PRs,” says Keong.

Knight Frank also expects the landed home market to stay fairly resilient, with most deals closing within the $5 million to $10 million price band.

Upcoming CCR launches include the 380-unit Dunearn House by Frasers Property, CSC Land and Sekisui House in Bukit Timah Turf City. The 99-year leasehold project will preview on July 10, with sales bookings to begin on July 25.

Other expected CCR launches include Sim Lian Group’s Amberwood at Holland, located on Holland Link, which will have around 230 units, and the 133-unit The Serra Residences on Bassein Road in District 11 by Far East Organization.

“Demand is expected to remain supported by resilient domestic buyers, particularly affluent owner-occupiers and investors seeking long-term wealth preservation through prime residential assets,” says SRI’s Sandrasegeran.

## Chinese translation

> Translation model: grok

### 新加坡豪华住宅成交增长，避险吸引力支撑投资者需求

豪华住宅成交按年跃升24.7%，获寻求优质住宅资产以保值的投资者支撑。

分析师称，2026年上半年新加坡豪华住宅市场表现稳健，优质共管公寓与有地住宅需求均提供支撑。

Realion（OrangeTee & ETC）集团7月8日发布的研究显示，核心中央区（CCR）在2026年上半年共有353套有地及非有地住宅以至少500万新元成交。该数据不含涉及超过一个单位的批量交易，按年跃升24.7%，为四年来上半年成交量最高水平。

豪华住宅成交亦跑赢更广泛的私人住宅市场。2026年上半年豪华住宅成交较2025年上半年的228套高出54.8%；同期整体私人住宅成交（不含行政公寓或EC）则按年下跌近12%至10,909套。

Realion报告强调，豪华住宅投资意欲仍然强劲，很可能获寻求资产保值的高净值人士（HNWIs）支撑。此外，中东战事爆发、油价上涨及其他全球不确定性，或促使投资者将财富从风险更高的投资转向房地产。

### 新公民与永久居民需求

莱坊新加坡在7月研究报告中指出，其定义的优质非有地住宅——即位于第1、2、4、9、10及11区、面积至少2,500平方英尺的共管公寓单位——在2026年上半年共录得128宗交易。

成交宗数略低于2025年下半年的136套，但均价由2025年下半年的每平方英尺2,483新元升至2026年上半年的2,689新元，涨幅8.3%。因此，2026年上半年总成交额与2025年下半年录得的11亿新元大致持平。

莱坊新加坡住宅及私人办公主管Nicholas Keong认为，价格上行反映新公民与永久居民（PR）需求增长。

他表示，近年来政府增加公民权与永久居留权发放数量，以应对新加坡出生率下降。

这进而扩大了优质住宅买家群体。Keong指出：“新加坡的避险地位，让获颁公民权与永久居留权的人士更有确定性，其中部分人从租住升级为置业。”

他还称，居海外的新加坡公民与永久居民，对以“避险资本保值”方式购置新加坡房产的兴趣也在上升。“作为财富储存载体，此类物业可先出租，直至业主希望返回新加坡。”

### 新盘带动CCR公寓成交

上半年豪华住宅市场的关键驱动力是一手市场，CCR新盘销售获新推介项目提振。

据SRI 7月研究报告，2026年上半年发展商在CCR售出761套全新私人非有地住宅。研究与数据分析主管Mohan Sandrasegeran表示，这是自2023年上半年成交986套以来的最高半年度销量。

销售由新项目支撑，SRI估计2026年上半年CCR共推出701套新屋，为自2022年上半年推出847套以来最高，亦超过去年上半年96套的七倍以上。

2026年上半年新盘包括：城市发展（City Developments）在安顺路（Anson Road）的246个单位永久地权项目Newport Residences，以及国浩置地（GuocoLand）在河谷（River Valley）的455个单位、99年地契项目River Modern，分别于1月和3月推介。

CCR非有地私人住宅转售在2026年上半年亦相对稳健。截至7月6日的备案显示，上半年有1,219套此类住宅易手。SRI的Sandrasegeran指出，虽略低于2025年上半年的1,315套，但仍高于2023年上半年的1,084套。

### 各价位CCR公寓成交均增

SRI称，2026年上半年CCR公寓整体成交量（含新售与转售）在各价位区间均有上升。其中200万至略低于300万新元价位增幅最大，按年跃升59.1%至627套。

超豪华公寓板块上季度亦显著升温。成交价至少1,000万新元的CCR公寓单位由去年同期的31套增至2026年上半年的40套。

尽管各价位整体增长，SRI观察到新售与转售市场趋势有所分化。

Sandrasegeran表示：“新推介项目在中档豪华价位段吸引了更强需求；转售市场则在更高价值价位段持续展现韧性，尽管整体成交量有所放缓。”

一手市场中档豪华成交增加，主要获River Modern与Newport Residences推介支撑，这些项目在相关价位段供应了更多单位。

另一方面，转售市场对高价物业的稳定需求，反映富裕买家在新供应有限的成熟优质地段，寻求更大户型、可即住以及独特物业，Sandrasegeran观察称。

### 外国人购入增多

新加坡豪华住宅的外国人需求亦现复苏迹象——此前在2023年4月额外买方印花税（ABSD）税率上调后曾回落。SRI称，外国人购入CCR公寓的占比今年小幅回升，由2025年上半年的3.3%升至2026年上半年的4%。

Sandrasegeran指出，这一改善或反映在地缘政治不确定性（包括美伊冲突）持续背景下，新加坡作为避险目的地的吸引力。

中国买家仍是外国人中购入CCR公寓最多的群体，2026年上半年为104套，高于2025年上半年的94套。

美国买家居次，达51宗，其后为马来西亚（35）、印尼（33）和印度（22）。

### 有地市场具韧性，但优质洋房成交减少

有地住宅市场亦保持韧性。据莱坊，2026年上半年共售出544套有地住宅，总值49亿新元；相比之下，2025年下半年售出522套，总值大致相当。

均价略升，由2025年下半年每平方英尺2,067新元增至2026年上半年的2,103新元，涨幅1.7%。

不过，优质洋房（Good Class Bungalow，GCB）市场表现较为平淡。据莱坊分析，上半年仅售出8幢GCB，总成交额4.746亿新元，显著低于2025年下半年16幢、7.643亿新元的水平。

莱坊指出，有地市场买家日趋挑剔，谈判周期拉长；买卖双方的价格错配也拖慢了市场节奏。

### 全球财富与新盘将继续支撑市场

展望未来，中东紧张局势与持续通胀压力或继续促使投资者将资金导入新加坡住宅市场。Realion报告称：“在国家避险吸引力支撑下，全球资本与高净值人士料将继续配置新加坡住宅市场。”

莱坊预计优质非有地住宅销售活动将保持平稳。Keong表示：“尽管60%的ABSD税率抑制外国需求，若定价合理，CCR即将推出的新项目仍可有不错销售，并获新公民与永久居民额外支撑。”

莱坊亦预计有地住宅市场将保持相当韧性，多数成交将落在500万至1,000万新元价位区间。

即将推出的CCR项目包括：由星狮地产（Frasers Property）、CSC Land与积水房屋（Sekisui House）在武吉知马跑马场城（Bukit Timah Turf City）合作开发的380个单位项目Dunearn House。该99年地契项目将于7月10日预览，7月25日起接受认购。

其他预期中的CCR新盘还包括：森联集团（Sim Lian Group）在荷兰连路（Holland Link）约230个单位的Amberwood at Holland，以及远东机构（Far East Organization）在第11区巴西班让路（Bassein Road）的133个单位项目The Serra Residences。

SRI的Sandrasegeran表示：“需求料将继续获具韧性的本地买家支撑，尤其是寻求通过优质住宅资产进行长期保值的富裕自住买家与投资者。”