Developer sales slow in June with 156 new private homes transacted, RCR takes the lead
With sales exceeding launched units and the RCR contributing 53.8% of transactions, the slowdown signals constrained supply rather than absent demand and may benefit upcoming launches.
Developers sold 156 new private homes excluding ECs in June 2026, down 65.1% from May, as no new units were launched during the month.
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New private home sales tumbled in June amid the absence of new launches and the mid-year school holidays.
According to URA data released on July 15, property developers sold 156 new homes excluding executive condos (ECs) last month, plunging 65.1% from the 447 units moved in May. On a y-o-y basis, private new home sales fell 42.6%.
This is the lowest monthly sales so far this year, observes Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group. That said, the drop is “unsurprising”, as developers typically scale back project launches during the school holidays, she adds.
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In any case, despite the relatively muted sales in June, the second quarter’s total volume of 2,151 new private homes transacted still exceeded the 2,013 units sold in the first quarter, Sun points out.
Huttons Asia CEO Mark Yip notes that June 2026 was the fifth consecutive month in which sales exceeded the number of launched units, “reflecting the strong underlying demand for new homes”.
It was also the first month on record — since URA data was made available in 2007 — in which no new private residential units were launched for sale.
RCR drives bulk of activity
Instead, buyers turned to existing projects, especially in the Rest of Central Region (RCR) or city fringe. The RCR accounted for the bulk of developer sales in June, making up 53.8% or 84 units of the total units sold, excluding ECs, according to Realion.
This was followed by the Outside Central Region (OCR) or suburbs at 36.5%, while the Core Central Region (CCR) or prime areas came in at 9.6%, notes Sun.
Hudson Place Residences was the top-selling project islandwide during the month. Situated along Media Circle in the RCR, the condo’s developers moved 12 units at a median price of $2,577 psf.
Read also: New home sales plunge 71.1% m-o-m in May, with 447 units sold
PropNex notes that Hudson Place Residences has maintained its position as the most popular project in both the region and the overall market for the second consecutive month since its launch in May 2026.
Top private residential projects by sales in June 2026:
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Source: URA, Huttons Data Analytics (data as of July 15, 2026).
Also in the RCR, The Continuum and Union Square Residences each moved 11 units at median prices of $2,789 psf and $2,762 psf, respectively, according to ERA.
“New private home supply in the RCR has been especially limited this year, with just 377 units launched so far, excluding ECs,” says ERA Singapore CEO Marcus Chu.
By comparison, developers released 2,259 units in 1H2025 and 2,513 units in 2H2025 within the region. “This large supply gap could lend support to upcoming RCR launches, including Thomson Reserve and The Island Residence later this year,” Chu remarks.
In the OCR, developers sold 57 new private homes, excluding ECs — a 37.4% decline from the 91 units sold in the region in May.
This is the lowest monthly sales tally for the OCR segment in over two years, since 45 units were transacted in December 2023, says Wong Siew Ying, head of research and content at PropNex. Chuan Park was the region’s best-selling project in June, with 11 units sold at a median of $2,631 psf.
Read also: Hudson Place Residences sells over 61% of units at average $2,458 psf on launch weekend
Sales activity in the OCR could bounce back in July, with the upcoming launch of the 499-unit Lentor Gardens Residences, in Wong’s view.
As for the CCR, developers moved 15 new units last month, down 31.8% from the 22 units transacted in May. It is the third consecutive month of decline and the lowest monthly new home sales in the CCR since June 2025, when 14 units were sold.
Newport Residences recorded the most sales in the CCR this June, with just four units sold, at a median price of $3,056 psf. The second best-seller was UpperHouse at Orchard Boulevard, which moved three units at a median of $3,437 psf.
In particular, the 180-unit Watten House, a District 11 condo which hit the market in November 2023, is now fully sold after a buyer scooped up its final unit in June, according to PropNex.
CBRE Research highlights that based on quantum size, the largest proportion (27%) of new private homes sold in June was in the $3 million to $5 million range. It came as buyers purchased larger three- and four-bedroom units from existing projects such as The Continuum and Chuan Park.
The $2.5 million to $3 million range made up the second-biggest proportion at 26%, followed by the $1.5 million to $2 million bracket at 20%, says Tricia Song, CBRE head of research, Singapore and Southeast Asia.
Tepid EC sales, existing stock depletes further
In the EC segment, developers sold only 28 new units in June, down by 39.1% m-o-m from the 46 units transacted in May.
June saw “the weakest monthly EC sales since February, when developers sold only 20 units amid shrinking stock”, says Chu from ERA.
Coastal Cabana continued to lead EC sales for the second straight month, with 21 transactions at a median price of $1,836 psf.
The Coastal Cabana project appeared to draw buyers under the previous EC framework. As the development was launched before the tightened EC measures took effect, purchasers of its remaining units are still able to buy under the earlier rules.
“This may have prompted some eligible buyers to bring forward their purchasing decisions before these remaining units are fully taken up,” says Mohan Sandrasegeran, head of research and data analytics at SRI.
Meanwhile, Rivelle Tampines moved six units at a median price of $1,947 psf during the month, while Lumina Grand posted just one sale at $1,732 psf.
ERA’s Chu expects a turnaround in EC sales when Wynwood Grand in Woodlands debuts in 4Q2026. The project is likely to draw strong interest from second-timers, as it will be the first EC launch in the Woodlands planning area in almost a decade, following Northwave’s debut in 2016, he adds.
Wynwood Grand is also one of the last five EC projects governed by the previous policy framework, which means its buyers will not be subject to the longer 10-year minimum occupation period and can still tap on the deferred payment scheme.
On the supply side, only 150 unsold EC units remain available in the market as at end-June, URA data shows. Supply has been thinning due to healthy demand and the gradual absorption of EC inventory.
“The limited unsold stock of ECs bodes well for upcoming EC launches in Senja Close, Woodlands Drive 17, Sembawang Road, and Miltonia Close, which are not subject to the new EC measures announced in May 2026,” says Wong from PropNex.
Luxury market remains robust
Overall new luxury residential sales rebounded strongly in the first half of the year, even as June marked the first month when there was no sale above $10 million for non-landed new homes.
There were 60 new non-landed homes in the CCR that were sold for $5 million to $10 million during the first six months of 2026. That is nearly triple the 21 units in 1H2025 and more than double the 36 units in 1H2024, according to Realion.
Sun reckons this could be due to wealthy investors seeking prime assets in Singapore as safe-heaven investments amid the global macroeconomic uncertainties.
Regaining momentum in July
Analysts generally concur that market activity is likely to pick up soon, especially with the upcoming launches of Lentor Garden Residences in the OCR and Dunearn House in the CCR.
Sales for those launches are estimated to be around 700 to 1,000 units, says Huttons’ Yip.
Leonard Tay, head of research at Knight Frank Singapore, notes that developers will have two more windows for launch in the remaining half of the year, restarting in July until mid-August, before the Chinese Seventh Month. Another window will start after the September school holidays until the third week of November when the year-end school holidays begin.
“Even so, new home sales remain on track to total between 8,000 to 10,000 units for the entire year, even though the months of May and June 2026 tracked lower activity,” Tay says.
He adds that there remains a deep pool of Singaporean purchasers in the private residential market, underpinned by intergenerational wealth.
At the same time, the price gap between new launches and resale homes persist, Tay says. This creates a two-tier market where new projects command a premium while homes that have been completed for some time provide more affordable options for both upgraders and downgraders.
CBRE Research projects that some 7,500 to 8,500 new private homes will be sold in the whole of 2026, in part due to a “decent” pipeline of attractive new launches. “Homebuying appetite has remained resilient in the year so far despite heightened volatility and economic uncertainty from the ongoing Middle East conflict,” says Song.
SRI’s Sandrasegeran forecasts the full-year new private home sales (excluding ECs) to reach 8,000 to 9,000 units.
He shares: “Thomson Reserve is expected to be one of the most significant launches in the second half of 2026.” With more than 1,200 units, the mega development will inject a substantial supply of new homes into the RCR — a segment that has seen relatively limited new launch activity this year — and may benefit from pent-up demand from buyers seeking fresh city-fringe housing options.
Other projects anticipated in the coming months, including Lucerne Grande and developments arising from the recently awarded government land sale sites at Chuan Grove and Holland Link, are expected to further expand buyer choice, Sandrasegeran adds. This could contribute to a more active second half of the year.
Meanwhile, Yip predicts transaction volumes to total between 7,500 and 9,000 units, in line with the Ministry of Trade and Industry’s forecast of 2% to 4% economic growth for Singapore.
ERA’s Chu expects new home sales to reach around 9,000 units by year-end, barring unforeseen circumstances.
Buyer sentiment could remain supported in view of the still-low interest rates, tight job market and healthy household balance sheets, says Wong from PropNex.
“Slower growth in overall private home prices may also prompt some buyers who were on the fence to consider entering the market,” she continues.
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