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New Home Sales Rebound 93.5% in September 2026

Singapore's new private residential market recorded a recovery in September 2026, with developers selling 296 units excluding Executive Condominiums (ECs), representing a 93.5% increase from the 153 units sold in August. Sales were also 16.1% higher than the 255 units recorded in September 2025. The improvement followed a relatively quiet August, when market activity was affected by the absence of major new launches and the Hungry Ghost Festival. Despite limited fresh project inventory in September, transactions improved across all three market segments, reflecting continued buyer interest. The Rest of Central Region (RCR) accounted for the largest share of developer sales, with 131 units sold, representing 44.3% of the total. The Outside Central Region (OCR) followed closely with 125 units, or 42.2%, while the Core Central Region (CCR) contributed 40 units, equivalent to 13.5%. Collectively, the RCR and OCR accounted for 86.5% of new private home sales, highlighting the continued importance of these two market segments in supporting transaction activity. Terra Hill emerged as September's bestselling development, recording 32 transactions at a median price of $2,209 psf. This was followed by The Sen with 25 units sold at $2,386 psf. Newly launched Amberwood at Holland recorded 24 sales at a median price of $3,021 psf, despite only a portion of its units being released during its initial launch. Other developments, including Lentor Gardens Residences and Dunearn House, continued to register transactions following their July launches, demonstrating that buyer interest extended beyond initial launch weekends. The anticipated improvement in fourth quarter activity should provide a more positive conclusion to the year, reinforcing the importance of project availability, location and pricing in shaping buyer demand.

Marina Gardens Lane GLS Tender Attracts Sole Bid of $450.1 Million

The Government Land Sales (GLS) tender for Marina Gardens Lane attracted a single bid from EL Development Pte Ltd, which submitted an offer of $450.1 million, equivalent to $1,243 per square foot per plot ratio (psf ppr). The submitted land rate was approximately 11.3% lower than the $1,402 psf ppr achieved by the neighbouring land parcel, subsequently developed into the 937 unit One Marina Gardens. While EL Development emerged as the sole bidder, the eventual award remains subject to the Urban Redevelopment Authority's (URA) evaluation and approval. One Marina Gardens Demonstrates Encouraging Buyer Demand The neighbouring One Marina Gardens provides an important benchmark for evaluating the residential potential of Marina South. The 937 unit development has achieved a healthy sales take up rate of approximately 72%, with more than seven in ten units sold. This performance demonstrates encouraging buyer acceptance of new residential developments within the emerging precinct, particularly given the project's substantial development scale. In comparison, Marina Gardens Lane is expected to yield approximately 390 residential units, offering a more manageable development quantum and potentially lower sales exposure. Strong Connectivity Supports Marina South's Residential Appeal The Marina Gardens Lane site benefits from its proximity to Marina South MRT station on the Thomson East Coast Line and accessibility to Marina Bay MRT station, which serves the North South and Circle Lines. The recent completion of the Circle Line loop has further strengthened connectivity to major commercial and employment centres. These transport advantages are expected to support Marina South's longer term transformation into an integrated residential, commercial and lifestyle precinct. The comparatively smaller development scale, combined with a lower land entry cost, could provide EL Development with greater flexibility in positioning its residential offering. Overall, the tender reflects a more measured approach towards land acquisition rather than necessarily indicating weaker residential demand. Marina South's improving connectivity, ongoing precinct transformation and encouraging sales performance at One Marina Gardens continue to provide underlying support for its future residential development potential.

3Q2026 URA and HDB Flash Estimates: Private Home Prices Rise as HDB Resale Prices Ease

Singapore’s residential property market showed diverging trends in 3Q2026, with private residential prices strengthening while HDB resale prices continued to moderate. URA’s flash estimates indicate that private home prices increased by 1.4% quarter on quarter, bringing the estimated increase for the first nine months of 2026 to 2.8%, slightly above the 2.7% recorded over the corresponding period in 2025. The increase came amid a relatively limited fresh launch pipeline. Developers launched 3,627 units in 1H2026, while 3Q2026 saw fewer major projects entering the market. Lentor Gardens Residences and Dunearn House were the two major fresh launches, supplemented by smaller developments including Duet @ Emily and The Bronze. Looking ahead, a broader launch pipeline is expected to support private residential activity in 4Q2026, providing buyers with greater choice across locations and price points. Affordability, borrowing costs and individual project pricing are expected to remain important considerations. In the public housing market, HDB’s flash estimates indicate that resale prices moderated by 0.2% quarter on quarter in 3Q2026. This brings the estimated price movement for the first nine months of 2026 to -0.6%, compared with a 2.9% increase during the corresponding period in 2025. As highlighted by the historical comparison on page 3, this represents the lowest first nine-month performance in eight years, since the -0.8% recorded in 2018. The moderation reflects an expanding pipeline of flats reaching their Minimum Occupation Period, increased resale inventory and the ramp-up in BTO and Sale of Balance Flats supply. Policy changes are also reshaping the HDB market. The removal of the 15-month wait-out period for eligible private property owners could introduce some additional resale demand, while the increase in the monthly household income ceiling for families from S$14,000 to S$16,000 broadens access to subsidised public housing. Overall, HDB resale prices are expected to remain broadly stable in 2026.