# Singapore prime residential values forecast to rise up to 3.9% in H2 2026

- **Source:** Real Estate Asia
- **Published:** 2026-09-07T23:05:00.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/residential/news/singapore-prime-residential-values-forecast-rise-39-in-h2-2026
- **Topics:** Investment & Capital Markets, Regional Markets

## Featured rationale

Resilient demand, higher land prices and constrained supply may support stronger pricing, despite Singapore remaining Southeast Asia's most expensive prime residential market.

## AI summary

Singapore prime residential capital values are forecast to rise 2%–3.9% in H2 2026 after increasing 0.4% during the first half.

## Original article

Prime capital values inched up 0.4% in the first half of the year.

Singapore's prime residential market is expected to rank among the world's stronger performers in the second half of 2026, with capital values forecast to rise between 2% and 3.9%, according to Savills' latest World Cities Prime Residential Index.

Singapore is among only seven of the 30 cities tracked by the index expected to record capital value growth of at least 2% in H2, alongside Cape Town, Seoul, Kuala Lumpur, Lisbon, Madrid and Barcelona.

The forecast follows modest gains in the first half, when Singapore's prime capital values increased 0.4% and rents rose 1.7%. The rental increase outpaced the 1.1% average across the 30 cities and accelerated from 0.5% in H2 2025, Savills said.

At US$1,850 per sq ft as of June 2026, Singapore remained Southeast Asia's most expensive prime residential market, at more than six times Kuala Lumpur's US$280 per sq ft and about 65% above Bangkok's US$1,120 per sq ft. Globally, Singapore ranked 10th for prime residential prices, below Tokyo at US$3,140 per sq ft and Hong Kong at US$3,750 per sq ft.

Singapore's prime rents of US$1.06 per sq ft per week ranked joint-eighth globally with Milan, ahead of Seoul, Bangkok and Kuala Lumpur.

Performance elsewhere in Asia-Pacific was mixed. Tokyo was the strongest market globally, with prime capital values rising 7% in H1 and 20.4% year on year, amid strong demand and a shortage of prime housing. Seoul recorded a 4.1% rise in capital values and 4.4% rental growth. Hong Kong was broadly flat, while Beijing, Shenzhen, Guangzhou and Shanghai all recorded capital value declines. Bangkok saw capital values and rents fall by more than 5%, while Sydney values declined 3.3% despite 2.8% rental growth.

Globally, average prime residential capital values increased 0.6% in the six months to June, with 60% of cities recording gains. Prime rents rose 1.1%, continuing a trend since mid-2022 in which rental growth has outpaced capital value growth as affordability pressures and economic uncertainty encourage some buyers to prioritise flexibility.

Savills expects moderate, increasingly localised growth to continue in H2. Average capital values across the 30 cities are forecast to increase 0.5%, with 16 markets expected to rise, 10 to remain flat and four to decline.

Alan Cheong, executive director, research and consultancy at Savills Singapore, said Singapore's modest H1 growth masked a market that remained "fundamentally well supported", with resilient underlying demand and higher land prices supporting pricing expectations.

Savills World Research associate director Kelcie Sellers said cities combining constrained supply, household wealth creation and sustained international demand were likely to outperform. Relative value, lifestyle appeal and long-term economic fundamentals would become increasingly important in determining prime residential performance, she added.

## Chinese translation

> Translation model: grok_cli

### 新加坡高端住宅价值预计2026年下半年最多上涨3.9%

新加坡高端住宅市场预计将跻身2026年下半年全球表现较强的市场之列，资本价值预计将上涨

上半年高端资本价值微升0.4%。

新加坡高端住宅市场预计将跻身2026年下半年全球表现较强的市场之列，资本价值预计将上涨2%至3.9%，这是Savills最新世界城市高端住宅指数的结论。

在该指数追踪的30个城市中，新加坡是仅有的七个预计下半年资本价值增长至少2%的城市之一，其余为开普敦、首尔、吉隆坡、里斯本、马德里和巴塞罗那。

该预测是在上半年温和上涨之后作出的：当时新加坡高端资本价值上涨0.4%，租金上涨1.7%。Savills表示，租金涨幅超过30个城市1.1%的平均水平，并较2025年下半年的0.5%加快。

截至2026年6月，新加坡高端住宅价格为每平方英尺1,850美元，仍是东南亚最昂贵的高端住宅市场，是吉隆坡每平方英尺280美元的六倍以上，较曼谷每平方英尺1,120美元高出约65%。在全球范围内，新加坡高端住宅价格排名第10，低于东京的每平方英尺3,140美元和香港的每平方英尺3,750美元。

新加坡高端住宅租金为每周每平方英尺1.06美元，与米兰并列全球第8，高于首尔、曼谷和吉隆坡。

亚太其他市场表现参差。东京是全球最强市场，高端资本价值上半年上涨7%、同比增长20.4%，背后是强劲需求和优质住房短缺。首尔资本价值上涨4.1%，租金增长4.4%。香港大体持平，而北京、深圳、广州和上海均录得资本价值下跌。曼谷资本价值和租金跌幅均超过5%，悉尼价值下跌3.3%，尽管租金增长2.8%。

全球范围内，截至6月的六个月里，高端住宅资本价值平均上涨0.6%，60%的城市录得上涨。高端租金上涨1.1%，延续了自2022年年中以来租金增长快于资本价值增长的趋势，因为负担能力压力和经济不确定性促使部分买家优先考虑灵活性。

Savills预计，下半年温和、日益本地化的增长将持续。30个城市的平均资本价值预计将上涨0.5%，其中16个市场预计上涨、10个持平、4个下跌。

Savills新加坡研究及咨询执行董事Alan Cheong表示，新加坡上半年的温和增长掩盖了一个“基本面支撑扎实”的市场，韧性的潜在需求和更高地价支撑着定价预期。

Savills世界研究副董事Kelcie Sellers表示，同时具备供应受限、家庭财富创造和持续国际需求的城市可能表现领先。她补充说，相对价值、生活方式吸引力和长期经济基本面，在决定高端住宅表现方面将变得越来越重要。