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

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.