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NDR 2026 Housing Measures: Broadening Access Across the Housing Journey

The housing measures announced at National Day Rally 2026 represent a timely recalibration of Singapore’s housing framework, with higher income ceilings expanding access to subsidised housing and mortgage support across different stages of the housing journey. The monthly household income ceiling for eligible families will increase from S$14,000 to S$16,000, while the corresponding ceiling for singles will rise from S$7,000 to S$8,000. For applicable future Executive Condominium (EC) projects, the household income ceiling will increase from S$16,000 to S$18,000. For ECs, the increase to S$18,000 broadens the potential buyer pool, particularly among dual-income households that have moved beyond the revised HDB ceiling but remain within EC eligibility. However, the market impact will be gradual because the new ceiling applies only to new EC units where the land sale tender closes on or after 24 August 2026. Overall, the measures represent a wider housing life-cycle recalibration rather than a change focused solely on BTO eligibility. By updating income thresholds across multiple housing programmes, expanding EC accessibility and providing additional ballot chances for first-time families with children from the February 2027 sales exercise, the framework broadens housing options while allowing eligibility parameters to evolve alongside household incomes and circumstances.

July 2026 New Home Sales Surge as Major Project Launches Return

Singapore’s primary residential market rebounded strongly in July 2026, with developers selling 731 new private homes excluding Executive Condominiums (ECs), up sharply from 156 units in June. The recovery was driven by the return of fresh residential supply after June recorded no new private residential launches, highlighting the close relationship between launch activity and monthly developer sales. The official URA developer-sales database similarly records sales based on Options to Purchase issued by developers. A total of 889 units were launched across six projects during July. Lentor Gardens Residences and Dunearn House accounted for the bulk of new supply, launching 499 and 250 units respectively. Together, the two projects contributed 749 units, or approximately 83.3% of all units launched during the month. Their strong performance also accounted for 65.9% of all new private homes sold excluding ECs, demonstrating the significant role that major new launches continue to play in shaping monthly sales volumes. Lentor Gardens Residences was July’s best-selling project, recording 270 transactions at a median price of $2,357 psf. The development’s performance suggests that buyer confidence in the Lentor precinct remains resilient despite it being the seventh private residential project introduced within the estate. As the neighbourhood matures, buyers are increasingly able to assess completed developments, operational amenities and the precinct’s overall liveability, providing greater certainty over its longer-term appeal. External market reporting also recorded 270 sales at Lentor Gardens Residences during its launch period.

Singapore Office Market Review 1H2026: Improving Fundamentals Support Recovery

Singapore’s office market showed early signs of recovery in the first half of 2026, supported by improving economic fundamentals, resilient occupier demand and firmer investor sentiment. The price index for office space in the Central Region increased by 0.5% in 1H2026, reversing the -1.2% moderation recorded in 1H2025. While the improvement remains modest, the return to positive growth suggests that office capital values are beginning to stabilize. The improvement comes alongside stronger economic conditions, with Singapore’s economy expanding by 5.9% year on year in 2Q2026. Sustained demand for digital solutions, banking and insurance activities, as well as professional and technical services, has provided a supportive backdrop for office leasing demand. Although 99-year leasehold properties continued to dominate strata office transactions with a 66.2% share in 1H2026, this was lower than 74.5% a year earlier. Meanwhile, the combined share of freehold and 999-year leasehold properties increased from 25.5% to 33.8%, indicating stronger interest in assets offering longer-term value preservation. Leasing fundamentals continued to provide an important source of support. The Central Region office Rental Index increased by 0.6% in 1H2026, compared with no growth in 1H2025. The simultaneous improvement in rents and capital values suggests that the recovery is being supported by genuine occupier demand, with stronger rental income helping to underpin asset valuations and investment returns. Looking ahead, Singapore’s office market is expected to remain on a stable footing in the second half of 2026. Resilient economic growth, healthy labour market conditions and continued expansion across office-intensive industries should support occupier demand. While investment activity may remain selective amid geopolitical uncertainty and disciplined capital deployment, improving leasing fundamentals are expected to continue supporting rental and capital value stability.