Private home prices up 1.4% while rents gain 1.3% in 3Q2026, speeding up slightly

Prices of private homes — excluding executive condos (ECs) — in Singapore increased by 1.4% q-o-q in the third quarter of this year, as compared with 0.5% in the preceding quarter, with landed homes leading the increase.

Rents likewise grew at a slightly faster rate, rising 1.3% q-o-q in the latest three months, up from 0.7% previously.

That is according to URA’s quarterly real estate statistics released on Oct 23, and is in line with its flash estimates published earlier in the month.

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For the first nine months of this year, prices of Singapore’s overall private residential property price index increased by an average of 0.9% per quarter — similar to the corresponding period last year.

Landed homes got 2.9% pricier in 3Q2026, speeding up from the 2.5% increase in the previous quarter.

Meanwhile, prices of non-landed residential properties islandwide gained 1%, reversing from the 0.1% decrease in the previous quarter.

By region, the biggest percentage increase for non-landed homes came from the Outside Central Region (OCR) or suburbs at 2.3%.

This was followed by the Core Central Region (CCR) with a 0.3% rise, slowing from 1.8% in the previous quarter.

In the Rest of Central Region (RCR) or city fringe, prices of non-landed properties were unchanged in the third quarter, after a decrease of 1.2% in the second quarter.

Quieter new launch calendar

The stronger price growth coincided with a relatively quieter new-launch environment, as well as a shift in the mix of new home transactions towards higher price brackets, according to SRI head of research and data analytics, Mohan Sandrasegeran.

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In the primary market, homes priced between $2 million and below $5 million made up some 68.2% of new private home sales during the third quarter, a bigger proportion than the 49.2% in the previous quarter.

This does not necessarily indicate that buyers are becoming less price-sensitive, as it may instead reflect the types of units available for purchase during the quarter, Sandrasegaran noted.

It also highlights how private residential price movements are influenced by a combination of factors, including the composition of transactions, the relative performance of different market segments and prevailing demand for residential properties.

"As such, the stronger price growth should not necessarily be interpreted as a broad acceleration across all developments, but rather as an indication of continued resilience in the overall private residential market," Sandrasegeran added.

Lull in sales activity

Meanwhile, the total number of private home transactions fell 16.3% q-o-q to 5,146 units — the lowest volume observed since 2Q2025.

The decline came amid lower launch volumes and homebuyer activity due to seasonal factors, ERA noted.

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Resale transactions dipped from 3,813 in the second quarter to 3,801. They also accounted for 73.9% of all sales transactions this quarter, up from 62% previously, possibly due to the leaner pipeline of new launches, said Marcus Chu, chief executive of ERA Singapore.

He added that 52.4% of resales during the quarter involved OCR condos, which suggests "resilient demand from owner-occupiers and genuine demand for homes".

Riverfront Residences along Hougang Avenue 7 saw the most activity with 33 transactions, going by caveats lodged for resale condos during the quarter.

Next were D'Nest in Pasir Ris with 29 deals, while Normanton Park in District 5 and Treasure At Tampines tied for third place with 27 each, according to ERA.

Huttons Asia chief executive Mark Yip said that buyers leveraged on the slightly softer demand to negotiate for better prices, resulting in prices in the resale market easing by 1.1% in the third quarter.

Among new-launch projects, Lentor Gardens Residences was the best seller in the quarter, as buyers “were convinced of the transformation of the Lentor precinct, aided by the completion of Lentor Mall”, as well as its attractive pricing and the area’s investment viability, Yip opined.

Landed homes: Sustained buyer demand

A total of 588 landed homes were sold during 3Q2026, which is the highest quarterly volume for the segment so far this year.

This occurred even as the overall private housing market was less active.

ERA said the 2.9% q-o-q increase in landed home prices, up from the 2.5% growth in the previous quarter, could be attributed to more houses fetching at least $5 million, with the number rising to 308 in the latest quarter.

Notably, about 40.4% of landed homes sold for $5 million to $7.5 million, accounting for most of the quarter’s transactions.

"Landed homes continue to attract buyers for their long-term value and established appeal," Chu said.

Executive condo prices ease

The EC segment faced a shift in buyer behavior given the policy tightening in May this year.

The new EC rules encouraged some purchasers to opt for available inventory instead of waiting for upcoming launches, according to Huttons. As a result, developers sold 68 units from existing EC projects in 3Q2026.

Coastal Cabana moved 49 units at a median price of $1,829 psf, and Rivelle Tampines sold 18 units at a median of $1,938 psf.

The median price of ECs dropped by 1.6% q-o-q to $1,850 psf, down from $1,880 psf in the second quarter.

There were fewer than 150 unsold EC units in the market as of end-September 2026.

Rents of suburban condos see biggest increase

In the rental market, landed properties saw rents growing by 2.1% q-o-q, moderating slightly from the 2.7% increase in the previous quarter.

Among non-landed properties, rents were up 1.2%, accelerating from the 0.4% gain previously.

The OCR took the lead with a 3.1% jump in rents of condos and apartments, in contrast to the 0.3% decrease in the second quarter.

Next was the RCR with rents moving up by 1.5% for non-landed homes, after staying flat previously.

Moving in the opposite direction was the CCR, where rents of non-landed properties slipped by 0.3%, versus the increase of 1.2% in the preceding quarter.

Despite the overall 1.3% increase in islandwide rents, occupancy rates remained “healthy” at 92.8%, said Christine Sun, chief researcher and strategist of Realion (OrangeTee & ETC) Group.

Still, a surge in completed private residential stock — increasing by 3,491 units during the third quarter — led to overall vacancy rising to 7.2%, from 6.4% previously.

"AI has reshaped the employment landscape, potentially displacing some workers, while creating new roles and attracting AI-related businesses and talent to Singapore," Sun said. "Hence, landlords may need to adapt to changing tenant demographics, income levels and housing preferences."

Upcoming supply and outlook

A significant supply of about 32,800 private housing units, including EC units, could be made available for sale over the next one to two years, URA said on Oct 23.

This is part of the total supply of 57,200 private residential units expected to be completed over the next few years, and comes amid the large supply injection via government land sales (GLS).

In the second half of 2026, the government is launching GLS sites that can yield a total of 4,745 new private homes under the Confirmed List. That will bring the full-year GLS Confirmed List supply to 9,320 units, more than 50% above the annual average over the past decade, URA said.

Realion's Sun noted that the final quarter of this year will likely see a surge in transactions of private homes due to the highly anticipated line-up of several blockbuster launches, including Lucerne Grand, Thomson Reserve and The Serra Residences.

In particular, with 1,268 units and an average launch price of above $2,600 psf, Thomson Reserve in the RCR could lift the overall private property price index in the fourth quarter, Sun continued.

"Nevertheless, some buyers may exercise caution as interest rates could continue to rise in the months ahead," she said.

For the whole of 2026, Realion expects overall prices of private homes in Singapore to grow by 3–4%.

Yip from Huttons projected that total sales volume for the year could reach about 7,000 units, barring major market disruptions.

He added that this will be a "notable shift", as developer sales are set to outpace total new launches for the first time since 2022, which signals sustained demand for new private homes.