Singapore Budget 2026 is delivered against a backdrop of heightened global uncertainty, including geopolitical tensions and financial market fragility. Despite these external headwinds, Singapore’s macroeconomic outlook remains steady, with GDP growth projected at 2% to 4% and inflation expected to moderate to 1% to 2%. These forecasts reflect a stable economic environment that supports business confidence and household resilience. The Budget reinforces Singapore’s long-term strategy of anchoring high value industry clusters, investing in research and innovation, and strengthening structural competitiveness. Together, these measures provide a firm foundation for the property market across residential, industrial and commercial segments.

On the industrial front, the Government’s continued emphasis on anchoring high value industry clusters such as advanced semiconductor packaging, aerospace and biomedical sciences carries direct implications for space demand. These sectors require high specification facilities including cleanrooms, advanced manufacturing space and research laboratories. 

A key highlight of Budget 2026 is the strengthening of One North as Singapore’s AI and innovation nucleus. The development of a larger AI park and the launch of national AI Missions across advanced manufacturing, connectivity, finance and healthcare signal a coordinated push to embed artificial intelligence across core economic sectors. 

Within this evolving ecosystem, the upcoming Hudson Place Residences at Media Circle Parcel A is well positioned to benefit from One North’s continued expansion. Its proximity to research facilities, transport infrastructure, educational institutions and business parks situates it within a live work environment anchored by structural economic transformation rather than short term cyclical drivers.

Finally, Budget 2026 introduces broad based cost of living support across all HDB flat types, including cash payouts, GST Vouchers, MediSave and CPF top ups, CDC Vouchers, U Save rebates and S and CC rebates. These measures cushion household expenses, strengthen balance sheets and reinforce affordability within the housing ecosystem.

Overall, Budget 2026 signals policy continuity, economic resilience and calibrated growth. For the property market, the combination of structural economic transformation, disciplined supply management and household support measures points toward a stable and sustainable trajectory in 2026 and beyond.

The Singapore rental property market has entered a more stable and balanced phase heading into 2026, following a period of sharp adjustment in earlier years. Data from 2025 points to a market that remains fundamentally resilient, underpinned by genuine housing demand rather than speculative pressures. Total non-landed rental transactions rose by 3.8% year on year to 84,622 units, reflecting sustained leasing activity even as rental growth moderated and conditions normalised.

Leasing momentum in 2025 was broad based across all market segments. The Core Central Region recorded the strongest growth, with rental transactions increasing by 5.7% to 25,532 units. This reflects a gradual return of depth in the prime rental segment, supported by expatriates, senior professionals, and corporate tenants who continue to prioritise centrality, connectivity, and proximity to employment nodes. 

At the project level, rental demand in 2025 remained concentrated within large scale, well located developments across all regions. In the CCR, projects such as The Sail @ Marina Bay, D’Leedon, and Marina One Residences continued to anchor leasing activity due to their proximity to employment hubs and transport infrastructure. In the RCR, Normanton Park emerged as the top performing project by rental transactions following its recent completion, highlighting strong tenant acceptance for large, amenity rich city fringe developments. In the OCR, rental demand was more evenly distributed across multiple projects, reflecting tenant preferences for affordability and convenience rather than concentration in a single dominant development.

Overall, the rental market in 2026 is likely to be characterised by stability rather than acceleration, supported by steady employment conditions, population stability, and a more balanced supply environment.

The tender for the residential Government Land Sales site at Tanjong Rhu Road has officially closed, with a joint venture between CDL and Woh Hup emerging as the top bidder at $1,455 $psf ppr, translating to a total land price of about $709.3 million. The tender attracted 5 bidders, signalling sustained developer interest in rare city fringe sites with strong long term locational fundamentals.

Notably, this site marks the first residential land parcel released for sale in the Tanjong Rhu area in more than 2 decades. The previous GLS site in the vicinity was awarded in 1997 and subsequently developed into Water Place. The long interval since the last land release underscores the scarcity of new private residential opportunities in this established waterfront precinct, enhancing the appeal of the site to both developers and future homebuyers.

The level of participation reflects continued confidence in well located Rest of Central Region sites, even within a more calibrated and disciplined bidding environment. Developers appear increasingly mindful of demand conditions, upcoming supply visibility and cost considerations, contributing to bids that remain competitive while staying measured.

The site benefits from direct access to Tanjong Rhu MRT station on the Thomson East Coast Line, providing seamless connectivity to major employment and lifestyle nodes such as Marina Bay, Orchard and Changi Airport. It is also located near the Singapore Sports Hub, which is set to be progressively rejuvenated under the Kallang Alive Masterplan. Over time, this transformation is expected to introduce more community focused waterfront spaces, enhanced recreational facilities and a more vibrant lifestyle environment, further strengthening the liveability of the precinct.

Based on planning parameters, the site is expected to yield approximately 525 private residential units, allowing for a meaningful development scale while preserving the exclusivity associated with a waterfront city fringe address. With limited new private residential supply in the immediate vicinity, the future development is well positioned to attract interest from both owner occupiers and long term investors.

Overall, the outcome of the Tanjong Rhu Road GLS tender reflects the continued effectiveness of a calibrated ramp up in land supply. By improving visibility over the future housing pipeline, the GLS programme supports a healthier development environment and contributes to more balanced and sustainable pricing dynamics over the longer term.

The luxury private residential market in the Core Central Region entered a more stable and resilient phase in 2025, underpinned by steady prime demand, disciplined supply, and a buyer base focused on long term ownership rather than short term speculation. CCR non landed private home prices rose by 2.2% in 2025, moderating from the 4.5% increase recorded in 2024. This easing reflects price stabilisation rather than weakening demand, with values remaining firm amid wealth driven interest and Singapore’s continued appeal as a safe and stable wealth hub.

New home sales in the CCR recovered meaningfully in 2025, rising to 1,916 units from a trough of 378 units in 2024. This improvement marked a clear turnaround following 2 softer years and brought sales activity closer to more normalised levels. The recovery was supported by improved pricing visibility, stabilising interest rate expectations, and sustained interest from local buyers and long-term investors.

This rebound was also largely driven by the earlier ramp up in GLS land sales, which gradually translated into project launches. Despite the higher supply, market conditions remained orderly, with launches paced across the year and demand absorbed progressively. Importantly, prices continued to record healthy growth, highlighting the depth and resilience of prime demand.

Well positioned developments anchored CCR performance in 2025. Projects such as Skye at Holland and River Green emerged as top performers, reflecting buyer preference for large scale developments with strong accessibility, reputable developers, and clear value propositions. 

Resale activity in the CCR segment also continued its gradual recovery. Private resale transactions increased to 2,699 units in 2025, extending the improvement seen since the 2023 trough. The resale segment remains an important complement to the new launch market, catering to buyers seeking immediate occupancy, established developments, and larger layouts not available in current launches.

Looking ahead to 2026, the CCR luxury market is expected to remain resilient and orderly. Upcoming prime launches such as River Modern and Newport Residences are likely to sustain interest, while limited new supply, disciplined developer strategies, and a strong domestic buyer base are expected to support price resilience and steady absorption rather than rapid acceleration.

The HDB resale market in 4Q2025 continued its transition into a more stable and balanced phase, supported by expanded public housing supply and a gradual recalibration of buyer expectations. Price growth eased further in the final quarter, with the HDB resale price index recording no quarter on quarter change. 

On a full year basis, HDB resale prices rose by 2.9% in 2025, significantly lower than the 6.9% increase recorded in 2024. This moderation coincided with a sustained ramp up in Build To Order flats and an expanded Sale of Balance Flats programme, which broadened housing options and reduced pressure on the resale market. As a result, buyer behaviour has increasingly shifted towards choice and planning rather than urgency, supporting a healthier public housing ecosystem.

Resale activity in 2025 remained firmly anchored by genuine housing needs. Larger suburban towns such as Tampines, Sengkang, Woodlands, and Yishun recorded the highest number of resale transactions, reflecting the role of well-established estates in supporting market depth. Newer towns also benefitted from a growing pool of relatively younger flats, offering buyers longer remaining leases and more affordable price points compared to mature estates.

Family sized flats continued to form the backbone of the resale market. Four room flats accounted for 43.2% of transactions in 2025, followed by three room flats at 24.5% and five room flats at 23.0%. Together, these segments made up more than 90% of total resale transactions, reinforcing the needs driven nature of the market and the importance of practical layouts and liveability.

Looking ahead, the resale market in 2026 is expected to be supported by a meaningful uplift in supply. 

The private residential market closed 2025 on a firmer and more stable footing, supported by recovering resale activity, moderating price growth, and a strong rebound in new home sales. Overall market conditions point to a transition from the sharp post pandemic rebound toward a more balanced and sustainable growth phase.

Private resale transactions rose to 14,622 units in 2025, marking a 4.0% increase from 2024 and the highest level of resale activity since 2021. This recovery took place in an orderly manner, supported by stabilising financing conditions and improved alignment in price expectations between buyers and sellers. Large scale and recently completed developments such as Treasure at Tampines, Parc Esta, and Stirling Residences recorded the highest resale volumes, reflecting how project scale, location, and modern layouts continue to support healthy transaction turnover.

Private residential price growth moderated further in 4Q2025, with prices rising by 0.6% quarter on quarter. For the full year, prices increased by 3.3%, easing from the 3.9% growth recorded in 2024. This represents the lowest annual price growth since 2020. Importantly, this moderation occurred alongside an expansion in land supply rather than a tightening of availability, reinforcing the view that price stabilisation has been structurally driven by supply planning rather than weakening demand. The sustained ramp up in Government Land Sales since 2022 has strengthened future supply visibility and helped anchor pricing expectations across the market.

New private home sales staged a strong rebound in 2025, with total transactions rising to 10,815 units, up from 6,469 units in 2024. This 67.2% year on year increase reflects a broad-based recovery across the Core Central Region, Rest of Central Region, and Outside Central Region. 

Looking ahead, the outlook for 2026 remains stable. While sales volumes are expected to ease from the exceptionally active levels seen in 2025, underlying demand is likely to remain resilient. 

The tender results for the Dairy Farm Walk residential site provide a timely snapshot of current developer sentiment within the Outside Central Region, highlighting a market that remains healthy, competitive, and increasingly disciplined. The site attracted a total of 5 bidders, with the top bid of $427.0 million submitted by a consortium led by ABR Holdings Limited, translating to about $962 psf ppr. This outcome reinforces continued developer interest in well located suburban sites that offer differentiated attributes, particularly those integrated with nature and established residential surroundings.

Notably, bidder participation increased meaningfully compared to the January 2025 Dairy Farm Walk tender, which drew only 2 bidders. The presence of 5 bidders in the latest tender indicates that developer interest in the Dairy Farm enclave remains broad based. At the same time, the narrower spread between the top few bids suggests that developers share similar views on land value and pricing feasibility, pointing to a more aligned and rational bidding environment.

Demand fundamentals within the precinct remain supported by genuine owner occupier interest, as evidenced by healthy sales momentum at earlier projects. Buyers continue to be drawn to the area for its balance of tranquillity and accessibility, proximity to nature parks and walking trails, and the presence of amenities such as Dairy Farm Mall with a FairPrice Finest supermarket. The location is also attractive to families due to its proximity to reputable schools and MRT stations including Hillview and Cashew.

December 2025 marked a seasonal pause in developer sales, but the broader outlook for the private residential market remains constructive. Developer sales excluding Executive Condominiums totalled 197 units for the month, moderating from the 325 units recorded in November. This moderation was largely expected and seasonal in nature, as the year-end holiday period typically coincides with fewer project launches and softer buyer activity. Importantly, the slower pace reflects timing and launch dynamics rather than any deterioration in underlying demand fundamentals.

Buyer activity in December was driven mainly by existing projects rather than fresh supply. With limited new project introductions during the month, sales momentum concentrated around ongoing launches. The Continuum emerged as the top selling project with 31 units sold at a median price of $2,498 psf, underscoring sustained demand for well-located Rest of Central Region developments that offer a balance between accessibility, lifestyle amenities, and relative affordability compared to Core Central Region options. Other projects across both the RCR and Outside Central Region also recorded steady transactions, highlighting continued buyer engagement even during a quieter month.

While December activity moderated, the full year performance of the primary market tells a much stronger story. New private home sales rebounded firmly in 2025, with total transactions reaching an estimated 10,821 units. This represents a 67.3% year on year increase compared to 6,469 units in 2024, signaling a broad based recovery following a more subdued prior year. The improvement was observed across all regions, pointing to a more active and balanced primary market environment.

Several structural factors supported this rebound. A key driver was the ramp up in Government Land Sales supply from earlier awarded sites, which translated into a larger and more visible pipeline of project launches. In 2025, an estimated 11,482 private residential units were launched, marking the highest annual launch volume since 2013. This expansion in supply widened buyer choice and helped anchor price expectations, contributing to a more orderly growth environment.

At the same time, developers have remained measured in their launch strategies. Rather than releasing supply aggressively, project launches have generally been paced in line with prevailing market conditions and absorption rates. This disciplined approach has supported healthier take up patterns and reduced volatility in the new sales market. A strong GLS pipeline has also provided developers with opportunities to replenish land banks, supporting continuity in development activity without placing undue pressure on pricing.

Looking ahead, these dynamics have set a stable foundation entering 2026. While sales volumes may ease from the exceptional levels seen in 2025, buyer demand is expected to remain resilient. With a diverse slate of upcoming projects and a steady flow of new supply, the primary market is likely to continue operating within a more balanced and sustainable growth phase.

The tender for the Executive Condominium site at Woodlands Drive 17 attracted a total of 3 bidders, with Sim Lian Group emerging as the top bidder with an offer of $484.0 million, translating to a land rate of $794 psf ppr. This outcome reflects continued developer appetite for well-located EC sites, even as bidding behaviour remains selective in the current market environment. The close spread between the top 2 bids also indicates disciplined pricing assumptions across participating developers.

This is the second EC parcel introduced at Woodlands Drive 17 in recent years, reinforcing the area’s growing prominence as an emerging EC cluster in the North. The earlier EC site at the same location was awarded in August 2025 at $782 psf ppr, following strong participation from 5 bidders. The back-to-back release of EC sites in this location provides useful price discovery for the market and suggests that developers remain comfortable underwriting projects in this area amid firm construction costs and a stable demand outlook.

The site benefits from strong locational fundamentals. It is located next to Woodlands South MRT station on the Thomson East Coast Line, offering residents direct rail connectivity to key employment nodes and city areas. This is complemented by good road accessibility via the Seletar Expressway, enhancing overall connectivity. The proximity to established schools such as Woodgrove Primary School and Singapore Sports School further supports its appeal to family-oriented buyers and HDB upgraders seeking long term housing options within a well-planned residential environment.

With an estimated yield of about 560 residential units, the site presents an opportunity to address pent up demand for new EC supply in the North. ECs continue to be well received by young families and upgraders due to their relative affordability compared to private condominiums, while still offering similar lifestyle amenities. Given the limited number of EC launches in the North in recent years, take up prospects for a future development on this site are expected to be supported by underlying upgrader demand from surrounding HDB estates.

Looking ahead, the EC market is entering a phase of greater supply visibility following the recent ramp up in GLS supply. The increase in EC land availability is expected to reduce supply driven price pressures over the longer term. As a result, future price movements are likely to be more measured and increasingly driven by project specific factors such as location, product design, and layout efficiency, supporting a more balanced and sustainable EC market environment.

The landed housing market recorded a clear recovery in 2025, following a more cautious environment in 2024. The landed property price index rose by 7.7% in 2025, a notable improvement from the 0.9% increase recorded a year earlier. This reflects a gradual return of confidence in the landed segment, supported by stronger demand for larger landed homes and a pickup in higher value transactions.

Transaction activity also recovered steadily over the year. Total landed transactions increased from 1,938 units in 2024 to about 2,070 units in 2025, representing a 6.8% year on year increase. In value terms, total transacted value rose more sharply from $10.33 billion to $12.31 billion, an increase of 19.3%. The faster growth in value relative to volume points to a higher concentration of big ticket transactions, particularly at the upper end of the market.

Detached and semi-detached houses recorded the strongest momentum within the landed segment. Detached house transactions rose by 15.6% year on year, while semi-detached house transactions increased by 16.6%. Buyers in this segment are typically driven by long term housing needs, legacy planning, and land considerations, and are generally less sensitive to short term interest rate movements or policy adjustments. This helped anchor demand for larger landed formats even as broader market conditions remained calibrated.

Looking ahead to 2026, the landed housing market is expected to remain resilient, supported by sustained demand from well capitalised buyers and a continued preference for larger landed formats. Demand is expected to be driven primarily by private homeowners upgrading within the private residential segment, as well as high net worth buyers seeking long term wealth preservation and legacy assets. Limited availability of redevelopment plots is expected to keep prices firm, particularly for homes with larger land areas and redevelopment potential.

The upcoming launches of boutique freehold landed projects such as Vila Naga in Bukit Timah and Vila Natura in Lentor. Overall, the landed housing market in 2026 is expected to remain supported by steady demand, selective buying conditions, and continued interest in quality landed assets as a long-term component of Singapore’s residential market.

The 4Q2025 flash estimates indicate that Singapore’s residential property market is transitioning into a more sustainable and balanced phase, marked by moderated price growth, resilient underlying demand, and a clearer alignment between supply and buyer absorption. In the private residential segment, prices continued to moderate in 4Q2025, recording a 0.7% quarter on quarter increase, easing from the 0.9% growth seen in 3Q2025. For the full year, private home prices rose by 3.4% in 2025, slightly lower than the 3.9% increase recorded in 2024. 

Non landed new home sales in 2025 continued to be anchored firmly in the mass market price segments. Units priced between $1.0 million and $2.0 million accounted for 44.2% of total transactions, remaining broadly stable compared to 2024. 

Looking ahead, the outlook for the 2026 private residential market remains stable. While transaction volumes may moderate from the exceptionally strong levels seen in 2025, demand is expected to remain resilient. Importantly, the market is not facing a supply shortfall. The confirmed list under the 1H2026 Government Land Sales programme provides a substantial pipeline of new supply, with units about 50% higher than the ten-year average. This deliberate injection of land supply helps mitigate upward price pressures and supports long term market stability. 

In the public housing market, HDB resale prices showed clear signs of stabilization. Prices were unchanged in 4Q2025, and for the full year, resale prices rose by about 2.9%, a sharp moderation from the 9.7% increase in 2024. This reflects improved market balance amid a steady ramp up in BTO supply and a significant expansion in Sale of Balance Flats exercises, which provided buyers with more ready or near ready alternatives.

Overall, both private and public housing markets are entering 2026 on a more sustainable footing, with price growth moderating in line with increased supply and demand remaining structurally supported

The Private Property Market Outlook 2026 highlights a transition from the exceptionally strong momentum seen in 2025 toward a more balanced and sustainable market environment in 2026. In 2025, buyer demand remained resilient despite higher price benchmarks, supported by stabilising interest rates, a fuller launch pipeline and strong domestic participation. Developers adjusted launch pacing more strategically as market visibility improved, while land tender activity strengthened meaningfully across all regions, signalling renewed confidence within the development sector 

Government Land Sales activity showed a clear uplift in 2025. Excluding EC sites, average land bid prices rose across the CCR, RCR and OCR, with the strongest growth recorded in the OCR. 

New private home sales surged in 2025, with 11M2025 transactions already surpassing full year 2024 figures. Total new sales reached 10,624 units in the first 11 months of 2025, representing a 64.2% year on year increase. All market segments recorded stronger sales, led by the OCR, which continued to anchor overall volumes. The CCR recorded the sharpest percentage growth, supported by a return of demand at the higher end of the market and a stronger pipeline of luxury launches.

Mass market projects dominated the list of best selling developments in 2025, reinforcing the depth of demand for well located and competitively priced OCR launches. Large scale developments such as Parktown Residence, Springleaf Residence and Aurelle of Tampines led sales volumes, while RCR and CCR projects also posted solid take up when pricing and location aligned with buyer expectations. This broad based performance underscores buyers continued preference for value alignment rather than speculative positioning.

The resale market also showed resilience in 2025, with total private resale transactions rising by 3.2% year on year. The RCR recorded the strongest resale growth, while OCR volumes remained stable despite competition from a very active primary market. Demand continued to favour relatively newer projects completed between 2018 and 2023, reflecting buyers preference for modern layouts, remaining lease tenure and established liveability.

Local buyers remained the dominant force in the private residential market. Singaporeans accounted for 83.9% of all non landed private transactions in 11M2025, while PR participation moderated slightly. Foreign buying activity remained subdued due to prevailing ABSD measures, with demand largely concentrated in specific market segments.

The tender for the Hougang Avenue 10 / Hougang Central GLS site attracted sustained developer interest despite a more measured bidding environment. The mixed use site, which allows for a residential and commercial development integrated with a bus interchange, drew 3 bidders, reflecting selective yet committed participation for large scale integrated developments. This level of interest mirrors the earlier Chencharu Close tender, suggesting that developers remain focused on quality and strategic positioning rather than volume driven bidding 

The top bid of $1.50 billion was submitted by Horizon Residential Pte. Ltd. under UOL together with Horizon Commercial Trustee Pte. Ltd. under CapitaLand, translating to $1,179 psf ppr. This offer narrowly edged out the second highest bid by just 2.1 percent, highlighting strong conviction and disciplined pricing among the top contenders. The close spread between bids indicates that developers share a broadly aligned view on the underlying value of this site, particularly given its scale, commercial component, and transport integration.

The relatively limited number of bidders should be viewed in the context of the project’s size and complexity. Large integrated developments require strong balance sheets, operational expertise, and long term capital commitment. As such, participation tends to be concentrated among developers with proven mixed use experience. The high absolute bid values suggest that participating developers are taking a long term view of Hougang Central’s role as a town centre anchor that can support both residential demand and sustained retail activity over time.

From a locational perspective, the site benefits from immediate adjacency to Hougang MRT station, which supports strong and consistent footfall throughout the day. This advantage is expected to strengthen further when Hougang becomes an interchange with the completion of the new line around 2030. The surrounding mature HDB catchment provides a ready residential base that enhances the commercial viability of the development, while the integrated nature of the project appeals to both homeowners and investors seeking convenience and accessibility.

Looking ahead, broader infrastructure and planning initiatives under the Master Plan 2025 further reinforce the site’s appeal. Improved connectivity from the Cross Island Line, planned upgrades to Hougang Sport Centre, proximity to schools and healthcare facilities, and access to recreational spaces collectively enhance liveability and long term value. 

Private new home sales in November 2025 moderated from the exceptionally strong performance seen in October, largely due to the absence of major new launches rather than a deterioration in underlying demand. Developer sales excluding executive condominiums reached 325 units, easing from 2,424 units in October. This moderation followed a sharp contrast in launch volumes, as October benefited from the release of 2,233 units, while November saw only 347 units launched, all of which came exclusively from a single project, The Sen.

Despite the quieter month, buyer activity remained well supported. The Rest of Central Region emerged as the dominant contributor, accounting for 66.2 percent of all private new home sales. This strong showing was directly linked to the launch of The Sen, which anchored market activity and became the focal point for buyers seeking well located city fringe homes. The Outside Central Region contributed 24.6 percent of sales, reflecting continued interest from buyers prioritising affordability and family sized layouts in suburban locations. 

At the project level, The Sen was the clear standout, achieving 77 units sold and leading the sales chart by a wide margin. As the final non landed private residential launch of 2025, it attracted sustained interest from both owner occupiers and investors, especially in a month with no competing new projects. Other RCR developments also recorded steady transactions. The Continuum and Bloomsbury Residences each sold 22 units, supported by their city fringe positioning. Overall, November’s sales distribution highlighted how buyers gravitated toward projects that offered either fresh market visibility or compelling value propositions when supply was limited 

On a year-to-date basis, new home sales excluding executive condominiums have shown a strong and sustained rebound in 2025. With November figures included, total developer sales reached 10,624 units in the first 11 months of the year. 

The 2026 HDB resale market is poised for a more balanced and sustainable year, shaped primarily by a strong uplift in resale supply and steady underlying demand. As 2025 draws to a close, resale activity has moderated, influenced by expanded new flat launches and a much smaller cohort of flats reaching Minimum Occupation Period in 2025. Based on data from HDB and data.gov.sg, the first 11 months of 2025 recorded about 23,924 resale transactions, reflecting a 10.2 percent moderation compared to the same period in 2024.

The new flat supply landscape in 2025 played a significant role in shaping buyer behaviour. BTO launches rose slightly year on year, while Sale of Balance Flats supply expanded sharply to 10,252 units due to two SBF exercises conducted within the year. Standard flats made up the bulk of the BTO supply at 50.6 percent, underscoring HDB’s continued focus on broad accessibility. Prime and Plus flats, which accounted for 36.5 percent and 12.9 percent respectively, continued to attract households drawn to central locations and long term value potential, even as clawback rates were progressively refined. 

Demand fundamentals remain resilient as household formation stays steady and policy enhancements support right sizing among seniors. Findings from HDB’s latest Sample Household Survey also show more young families living near parents, boosting demand in established towns. Taken together, 2026 is expected to be a year of healthier balance, steady performance, and moderated price growth anchored by a significantly larger supply pipeline and stable demographic needs.

The 1H2026 Government Land Sales programme will introduce 4575 private housing units on the confirmed list, which is 3.2% lower than the 4725 units in 2H2025 and 9.0% below the 5030 units in 1H2025. Despite this moderation, the overall pipeline remains healthy when including the reserve list, resulting in a total of 9185 units, broadly comparable with earlier programmes. The calibrated adjustment reflects the authorities’ intention to pace out land supply following the stronger injections seen from 2024 to 2025, which had helped stabilise market conditions and ease previous tight inventory.

The confirmed list features nine sites across multiple regions. Bayshore Drive is the largest site, capped at 1280 units, positioning it as a future mega development anchoring the transformation of the Bayshore precinct. New Upper Changi Road contributes about 1040 units, reinforcing the Eastern Corridor’s residential pipeline. At the other end of the spectrum, Lorong Puntong is the smallest site with about 140 units, likely taking shape as an exclusive low density project benefiting from strong connectivity via the Thomson East Coast Line.

Two Executive Condominium (EC) sites are included — Sembawang Drive and Canberra Drive — providing a combined supply of about 635 units. ECs have demonstrated strong performance, with 1550 new EC units sold in the first nine months of 2025, surpassing the full year figure of 1227 units in 2024. ECs continue to show investment resilience, supported by their hybrid nature and strong resale outcomes.

Overall, the 1H2026 GLS programme presents a balanced and well timed pipeline across city fringe, suburban, and transformation areas. The moderated confirmed list supply, paired with a still robust total pipeline, supports sustainable market conditions while allowing earlier GLS injections to be absorbed progressively.

The Executive Condominium market continued to show firm momentum in the first 10 months of 2025, reinforcing its reputation as one of the most resilient and value driven residential segments in Singapore. SRI Research’s analysis of 67 EC developments recorded 1,625 resale transactions during this period, and more than 97 percent of caveated resales achieved positive gains. This high success rate reflects the EC model’s strength as a pathway for long term capital appreciation, particularly for HDB upgraders seeking private housing at a more accessible entry point. 

Both recently completed and older ECs contributed to profitable outcomes, although newer projects made up the larger share of gains. Around 69.1 percent of profitable transactions came from ECs completed within the last 10 years, signalling sustained demand for developments with modern facilities and longer remaining leases. 

Buyer profiles also highlight the EC market’s broadening reach. Private address buyers made up 53.4 percent of profitable resale transactions, showing increased participation from owners already in the private segment who seek larger formats at comparatively attractive price points. At the same time, 46.6 percent of transactions involved HDB address buyers, indicating that ECs remain a key stepping stone for upgraders entering the private housing market. 

Land bid patterns further reinforce the affordability edge. EC land bids averaged $748 psf ppr in the first ten months of 2025, while OCR private residential land bids averaged $1,114 psf ppr, creating a 49 percent gap. Despite gradually rising EC land prices, the cost structure remains favourable enough for developers to price EC launches below the broader mass market. 

Looking ahead, the upcoming Coastal Cabana EC in Pasir Ris is set to attract considerable interest. With 748 units, lifestyle focused design, strong connectivity through Pasir Ris MRT interchange on the Cross Island Line, and proximity to schools and recreation, the development offers a rare coastal living experience within the EC segment. Supply in the East remains limited, further supporting its outlook. 

The Bedok Rise Government Land Sales tender drew strong interest from developers, marking one of the most competitive suburban land tenders in recent years. A total of 10 bidders participated, exceeding the 8 bidders seen at the nearby Bayshore Road site and matching the strongest participation levels last recorded at Slim Barracks Rise in 2021 . This reflects the continued appeal of residential plots in the Outside Central Region, a segment that remains the anchor of new home sales across the island.

Bellis Residential Pte Ltd, linked to Allgreen Properties, submitted the top bid at $464.8 million dollars, translating to $1,330 dollars psf ppr. The gap with the second placed bid by Hoi Hup Realty was very narrow at just 0.4 percent, highlighting the close competition among developers. The spread from the highest to the lowest bid reached 18.6 percent, showing a wide range of price expectations for this site .

Following the recent launch of Promenade Peak in the Rest of Central Region, Allgreen appears to be extending its footprint into the suburban market through this acquisition. The Bedok Rise site provides an opportunity to tap into resilient upgrader demand in a location with an established track record of strong sales. The success of Seneca Residence next door reinforces that confidence. Seneca, launched on the earlier Tanah Merah Kechil Link GLS site, achieved a full sellout and had originally attracted 15 bidders for its land tender, a sign of strong interest in this precinct .

The Bedok Rise plot is expected to yield around 380 units and is well supported by transport and amenity offerings. Its location beside Tanah Merah MRT station offers immediate connectivity to the East West Line. Nearby expressways such as the PIE and ECP enhance accessibility to the rest of Singapore. Schools in the area, including Bedok Green Primary School and Bedok View Secondary School, add to its attractiveness for families. Residents will also enjoy proximity to markets, sports facilities, and neighbourhood parks .

October 2025 marked one of the strongest months for Singapore’s private new home market, with developers transacting 2,424 units excluding Executive Condominiums. This represented a sharp rebound from the slower September showing of 255 units and exceeded the previous monthly peak of 2,142 units in August. 

October’s performance also stood out as the highest monthly developer sales recorded since November 2024 which saw 2,560 units sold. The significant swing in momentum reflected the market’s ability to adapt quickly following the quieter Hungry Ghost Festival period as buyers returned in force to capitalise on the wave of anticipated launches.

The month was defined by four major project debuts which collectively reshaped overall sales. Skye At Holland, Zyon Grand, Penrith, and Faber Residence released a combined total of 2,233 units and accounted for 84.6 percent of all private new home transactions in October. 

Their strong take up underscored the market’s continued appetite for well-located and thoughtfully curated developments that blend convenience, product appeal, and lifestyle value. 

Overall, October demonstrated how fresh supply continues to be the strongest driver of new home sales. When developers introduce well positioned projects with compelling concepts, the market’s response remains swift and decisive. The results for the month highlight both healthy underlying demand and the stabilising confidence of buyers who remain ready to commit when presented with tangible value and strong locational attributes.