New private home sales slow in June as launches dry up amid school-holiday lull

[SINGAPORE] Developers in Singapore sold 156 private homes in June, down 42.6 per cent from the 272 units moved a year earlier, data released by the Urban Redevelopment Authority showed on Wednesday (Jul 15).

The latest June sales figure – which excludes executive condominiums (ECs) – is also about a third of the 447 units sold in May this year.

No new private homes were launched in June, a first since records began in 2007, said Nicholas Mak, Mogul.sg chief research officer.

Including ECs, 184 units were sold in June with no new launches, versus the 305 units sold and 103 units launched in the same month in 2025. In comparison, 493 units were sold and 357 units were launched in May 2026.

That brings the Q2 tally to 2,151 units, slightly more than the 2,013 units moved in Q1, noted Christine Sun, Realion Group chief researcher and strategist.

For the first half of 2026, new private home sales totalled 4,164 units – 9.2 per cent lower than the 4,587 units transacted in H1 2025, but more than double H1 2024’s 1,889 units.

Asean Intelligence

Huttons Asia chief executive Mark Yip said sales activity and new project launches typically slow during the June school holiday period. “Developers were likely waiting for an opportune time like (July) to launch their projects.”

This year, Mak said there was also “less pressure on developers” to launch new projects, given the smaller pipeline of major projects slated for the second half compared with the same period last year.

At the same time, developers were likely waiting to gauge market reaction to the new EC restrictions “before deciding on their next move”, resulting in some launches being pushed back, said Mak.

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Despite the sluggish sales in June, Wong Siew Ying, PropNex head of research and content, said the underlying demand for new private homes remained stable.

A rebound is expected in July, with the upcoming launch of the 499-unit Lentor Gardens Residences and 380-unit Dunearn House.

Both projects saw “strong turnout” when their sales gallery opened for previews in early July, she said.

For Lentor Gardens Residences, Wong noted that it was the seventh new launch in the Lentor Hills estate. The previous six projects collectively sold 2,929 of 2,954 units, which works out to a take-up rate of 99.2 per cent and points to “sustained buyers’ confidence in the location”.

Meanwhile, Dunearn House is the maiden launch in the new Bukit Timah Turf City estate.

“(This) suggests keen buying interest, and the two projects will likely help to lift developers’ sales in July following June’s subdued showing,” said Wong.

Top transactions

In June, Coastal Cabana EC was the best-selling project with 21 units sold at a median price of S$1,836 per square foot (psf).

Tricia Song, CBRE head of research for Southeast Asia, said the 99-year leasehold development, which launched in January, saw renewed interest after new EC policy changes were announced in May.

Changes include a longer minimum occupation period of 10 years, up from five, and the scraping of the deferred payment scheme for uncompleted units.

More new units will also be reserved for first-time buyers and the priority period was extended to two years, from a month.

The supply of unsold ECs also remains tight, with just 150 units available as at end-June, added Wong from PropNex.

“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 subjected to the new EC measures.”

Excluding ECs, the city-fringe Hudson Place Residences, which launched in May, topped the charts with 12 units sold at a median price of S$2,577 psf.

This was followed by Chuan Park in the suburbs, and The Continuum and Union Square Residences in the city fringe, each with 11 units transacted at median prices of S$2,631 psf, S$2,789 psf and S$2,762 psf, respectively.

Among the priciest home transactions in June was a S$23 million detached house and a S$18.7 million detached house in Kheam Hock Road, sold separately to two Singaporeans, said Huttons’ Yip.

Another semi-detached home in Fernhill Close was purchased by a Singaporean for S$10.5 million.

In the non-landed market, Yip noted that for the first time, no non-landed new homes were sold for S$10 million or more.

Those priced below S$2.5 million – “a price point seen as households’ budget sweet-spot” – accounted for 38 per cent of new non-landed private home sales in June, said Wong.

Transactions in the S$2.5 million to under S$3 million range also took up a major share of sales, at 28 per cent.

“With no major new launches during the month, buyers were largely working through existing inventory, which may have limited the supply of units at the more accessible price points,” said Wong.

“We expect the share of transactions priced below S$2.5 million to rise in July, as new projects bring a wider mix of units to the market.”