Non-landed private home prices edge down by 0.4% m-o-m in July on Central Region drag: NUS estimates
The simultaneous decline in prices and transactions signals softer resale demand, potentially tempering seller expectations, although the Non-Central Region’s 0.5% gain indicates uneven cross-segment movement.
Singapore non-landed private home prices fell 0.4% month-on-month in July, led by a 1.8% Central Region decline, while resale volume eased to 984 units.
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Both prices and resale volumes of non-landed private residential properties across Singapore fell slightly this July, as compared to June.
Overall prices dipped 0.4% m-o-m — reversing from the increase of 0.3% in the previous month — amid decreases in the Central Region, according to flash estimates of the Singapore Residential Price Index (SRPI).
The National University of Singapore’s Institute of Real Estate and Urban Studies (Ireus) released the data on Aug 28. The SRPI, built by Ireus researchers, is a transaction-based index tracking monthly price movements of private non-landed housing across the island.
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Price trend of the SRPI from March 2009 to July 2026:
In the Central Region, spanning Districts 1 to 4 and 9 to 11, prices of non-landed private homes declined by 1.8% m-o-m in July, versus the 1% increase in June.
In the Non-Central Region, prices inched up by 0.5%, reversing from the marginal drop of 0.4% in the previous month.
Meanwhile, small units — defined as non-landed homes with a strata area of 47 sq m (506 sq ft) or less — saw prices fall by 1.2% m-o-m in July, after the earlier uptick of 0.2% in June.
At the same time, Ireus noted that headline inflation softened during the month, with Singapore’s Consumer Price Index – All Items down 0.2% m-o-m in July.
Resale volume of non-landed private homes: July 2025 to July 2026:
Transaction activity also slowed in the condo and apartment segment.
Non-landed private residential resale transactions — excluding executive condos and en bloc sales — came in at 984 units in July, down by about 2.38% from June's 1,009 units, based on URA Realis data cited by Ireus on Aug 28.