Singapore’s New Condo Sales Plunged 65% In June — Here’s What Happened

The sale of new condominium units virtually ground to a halt last month as the lack of any new launch project and the nearly month-long school holiday weighed on sales in the primary market.

In total, 156 private homes (excluding Executive Condominium units) were sold by developers in June 2026. This is the lowest sales figure in the primary market since February 2024, when developers only sold 153 units.

The transaction volume of developer sales last month also represents a 65.1% m-o-m decline compared to the 447 units moved by developers in May 2026. On a yearly basis, the dip in new condo sales is 42.6% less compared to the 272 units sold in June 2025.

The cyclical lull in the new launch market is unsurprising when we consider that most developers typically scale back their project launches during the June school holidays, which is a period when buyers and agents typically travel overseas, says Christine Sun, Chief Researcher & Strategist at Realion (OrangeTee & ETC) Group.

The muted sales performance was not aided by the fact that developers did not release any new units for sale into the market. This is the first time this has occurred since developer sales statistics were first published by URA back in 2007.

With no new projects launched in June, buyers turned to existing developments which are mostly located in city-fringe – Rest of Central Region (RCR) – locations at the moment.

According to data compiled by ERA, the sale of already-launched new condo units in the RCR accounted for 53.8% (84 units) of new condo sales last month. Meanwhile, suburban markets – the Outside Central Region (OCR) – saw 57 units sold (36.5%); and the city centre, or Core Central Region (CCR) shifted 15 units (9.6%).

Several of June’s best-selling developments, in terms of units sold, include Hudson Place Residences, Union Square Residences, The Continuum, and Chuan Park. These are all projects in the RCR and OCR.

Hudson Place Residences topped the list of developer sales in June 2026, after it shifted 12 units sold at a median price of $2,577 psf. Of these, eight units were transacted below $2.5 million, which has been a recurring ‘sweet spot’ price that has resonated among most new private home buyers.

Union Square Residences was one of the best-selling projects in June 2026.

The Continuum and Union Square Residences each moved 11 units at median prices of $2,789 psf and $2,762 psf, respectively. Chuan Park, located in the OCR, also posted a similarly strong showing with 11 units sold at a median price of $2,631 psf in June.

Overall, the lower volume of developer sales last month is not indicative of the performance of the private residential new launch market over the first six months of 2026.

In 1H2026, a total of 4,164 new private homes were sold. This is an increase of 2,275 units compared to the 1,889 units sold in 1H 2024, and roughly the same as the sales volume recorded last year – when developers sold 4,587 new condo units.

The 9.2% difference in the number of new private homes sold over the first six months of this year over the sales figure in 1H2025 is largely attributed to the relatively lower number of housing units launched in 1H2026.

Nicholas Mak, chief research officer of Mogul.sg, adds that new project launches in the past two years generally achieved high take-up rates when they entered the market, which resulted in fewer unsold units in the project for subsequent buyers.

“Hence, as the developers’ unsold inventories of private homes decrease, there are fewer choice units left for homebuyers in the earlier launched projects, leading to low sales volume in June,” he says.

Despite the outbreak of the US-Iran War in February, New private residential transactions were higher in March and April 2026, driven by high-profile project launches including Pinery Residences, Rivelle, Tengah Garden Residences and Vela Bay.

Overall, the trajectory of sales in the primary market, as well as the exceptional take-up rates recorded at some new projects this year, indicates resilient underlying demand for new condos among local buyers. The sales volume only softens when there are few or no new project launches.

Luxury market saw strong sales rebound

Although the overall developer sales moderated in June, new landed home sales were stable despite the broader macroeconomic slowdown, says Mohan Sandrasegeran, Head of Research & Data Analytics at SRI.

Although new landed homes represent only a small proportion of overall developer sales due to their limited supply, the six new landed homes sold in June matched March and April 2026’s transaction volumes.

“The steady performance was largely driven by Pollen Collection II, which accounts for the majority of new landed home transactions. With the limited supply of new landed housing, this project has benefited from buyers seeking brand new landed homes,” says Sandrasegeran.

Meanwhile, high-value deals in the condominium market also demonstrated their resilience in the face of a more subdued primary market. New non-landed homes in the CCR (excluding bulk deals of more than one transaction) that were sold for between $5 – $10 million soared by 185.7% y-o-y to 60 units transacted.

In contrast, there were only 21 of these high-value transactions recorded in 1H 2025, and 36 deals in this price range in 1H2024.

Driving this demand for high-value non-landed residential properties are wealthy investors seeking prime assets in Singapore, as the city-state’s safe-haven status continues to attract international capital amid the ongoing global macroeconomic uncertainties, says Sun.

For new ultra luxury homes above $10 million, nine units were sold in 1H 2026, which was fewer than the 15 units in 1H 2025 but more than the seven units in 1H 2024.

The priciest new home sold in June was a 2,368 sqft unit at Watten House, which sold for $7.8 million. This is followed by a 2,056 sqft unit at UPPERHOUSE at Orchard Boulevard, which sold for $7.2 million, and a 1,830 sqft unit at River Modern which transacted for $6.2 million.

Upcoming launches for 2026

Looking ahead, most market analysts expect some developers might bring forward their launches before the start of the Lunar seventh month. This year, this festival takes place from Aug 13 to Sept 10. Traditionally, some buyers prefer to hold off on major property purchases during this period.

Although the buoyant sentiment in the new launch market may be too tempting for some developers, opines Mak of Mogul. “If the demand at these new launches are strong, developers are likely to continue to release new projects in the Ghost Month. The profit motivation is stronger than the fear of ghosts”.

Some of the launch-ready projects waiting in the wings include Amberwood at Holland, the first condo along Holland Link and developed by Sim Lian Group; as well as Lucerne Grand, a project by City Developments Ltd (CDL) along Lakeside Drive.

Meanwhile, Bukit Sembawang Estates is reportedly gearing up to launch the next phase of homes in its Luxus Hills collection. The last time units in the Luxus Hills area were released was back in 2019.

The more immediate attention will be focused on the upcoming sales launch of Lentor Gardens Residences by Kingsford Group this coming weekend (July 18-19). It will be swiftly followed by the launch of Dunearn House by Frasers Property, CSC Land, and Sekisui House over the July 25-26 weekend.

At an average price of $2,350 psf, Lentor Gardens Residences may be one of the may be one of the last Lentor projects to hit the market at prices in the $2,300 psf range.

These new project launches will certainly contribute to a strong rebound in developer sales for July 2026, since buying demand for these two projects is underpinned by their strong locational and product attributes, says Sun.

Meanwhile, anticipation is growing for the upcoming preview of Thomson Reserve, the redevelopment of the former Thomson View condo. With no major launches in the RCR in 1Q2026, and Hudson Place Residences the only notable launch in this segment in 2Q2026, there is a high chance that Thomson Reserve will be one of the most significant launches in the second half of 2026, says Sandrasegeran.

Jointly developed by UOL Group and CapitaLand, the highly anticipated project is expected to inject more than 1,200 new homes into the RCR, which has seen relatively limited new launch activity this year. Sandrasegeran says that Thomson Reserve is well positioned to benefit from pent up demand from buyers seeking fresh city fringe housing options.

“A stronger launch pipeline in the second half of the year, continued household formation and Singapore’s reputation as a transparent and well-regulated property market should continue to support market activity. As such, we maintain our full year forecast for new home sales at 8,000 to 9,000 units (excluding ECs), with the bulk of transactions expected to be driven by new launches in the RCR and OCR segments,” says Sandrasegeran.

Meanwhile, Mak of Mogul anticipates that over the next six to nine months, 13 residential projects with 4,145 units could hit the market, keeping new home sales activities for the rest of this year buoyant.