16 Oct 2024
8@BT Dominates New Home Sales as Market Surges in September 2024
Property Insight

Developers sold 401 units (excluding ECs) in September, a strong rebound from the 211 units in August, reflecting a significant 90.0% month-on-month increase. This surge signals renewed market activity and growing buyer confidence. The strong performance can largely be attributed to the end of the Hungry Ghost Festival. The post-festival period often sees a revival in sentiment, allowing developers to capitalize on renewed interest. Strategic project launches, such as 8@BT, further benefited from this revival, tapping into pent-up demand.

On a year-on-year basis, new home sales saw an 84.8% rise, with 217 units sold in September 2023. This growth reflects a broader positive trend, with developers launching new projects to meet the resurgent demand from buyers confident in long-term real estate investments.

Best-Selling Projects in September

The project 8@BT led the list with 83 units sold at a median price of $2,727 psf, thriving in September’s sales. Pinetree Hill followed with 72 units sold at $2,501 psf. Other notable projects included Hillhaven, Tembusu Grand, and Hillock Green, indicating a strong preference for the Rest of Central Region (RCR) and Outside Central Region (OCR).

Local Buyers Lead at 8@BT

The transaction data for 8@BT reveals a strong preference among local buyers. Out of the 83 units sold, 76 units were bought by Singaporean buyers, representing 91.6% of total sales. Singapore Permanent Residents (PRs) accounted for 6 units, making up 7.2%, while foreigners represented only 1.2%.

Rest of Central Region Tops Sales in September

The Rest of Central Region (RCR) led with 55.1% of total units sold, reflecting strong buyer interest in areas balancing centrality and affordability. Best-selling projects like 8@BT and Pinetree Hill, both located in the RCR, performed well. The Outside Central Region (OCR) followed with 41.1%, driven by suburban projects like Hillhaven and Hillock Green, which offered affordability and liveability. The Core Central Region (CCR) accounted for only 3.7% of sales, likely due to fewer launches during the month. Typically catering to luxury buyers, CCR projects saw limited activity compared to other regions.

Highest Transacted Price in September

The highest transacted condominium sale in September took place at 32 Gilstead in the prime district of Novena, with a 4-bedroom unit sold for $14.6 million. The spacious unit, covering 4,209 sq ft, fetched a price of $3,480 psf, underscoring the demand for luxury properties. The buyer was a Singapore Permanent Resident (PR), reflecting the appeal of such properties to high-net-worth individuals.

Positive Rebound Expected

The positive momentum seen in September is expected to continue, driven by upcoming launches such as Norwood Grand and Meyer Blue in October. Additionally, the launch of Union Square Residences in November is anticipated to reinvigorate the market, marking a shift after quieter months. The influx of new launches, coupled with a recent interest rate cut by the US Federal Reserve, is expected to accelerate the recovery in the new home sales segment.

With favorable conditions, the new home sales market is well-positioned for a strong finish to the year, attracting significant interest from homebuyers.

 

Click here for the full report  

  

  

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics  

You may also like

Property Insight
16 Feb 2026
Developer Sales for January 2026 Rebound to Strongest Level Since October

Singapore’s private residential market began 2026 on a firm footing, with developer sales staging a decisive rebound from the seasonal moderation observed in December. According to URA data compiled by SRI Research, new home sales excluding Executive Condominiums rose to 466 units in January, up from 197 units in December. When ECs are included, total developer sales climbed to 990 units, compared with 234 units in the preceding month.

January marked the strongest monthly performance since October, reflecting renewed buyer activity supported by a coordinated wave of new launches. A total of 1,534 units were introduced to the market across segments, providing fresh supply and helping to catalyse transactions at the start of the year. The rebound was largely anchored by three key launches: Coastal Cabana in the EC segment, Newport Residences in the Core Central Region, and Narra Residences in the Outside Central Region.

The OCR accounted for the majority of transactions, contributing 71 percent of total developer sales including ECs. This was primarily driven by Coastal Cabana and Narra Residences, both of which cater to owner occupiers and HDB upgraders seeking relatively accessible price points. Coastal Cabana emerged as the top selling project in January, moving 504 units at a median price of $1,790 $psf. The strong take up underscores resilient demand in the EC segment, where buyers continue to view ECs as an attractive pathway into private housing.

Narra Residences recorded 122 units sold at a median price of $2,148 $psf, reflecting sustained demand for well priced OCR projects that offer a balance of affordability and lifestyle appeal. Together, these developments reinforced the role of mass market and EC launches in anchoring overall transaction volumes.

In the CCR, Newport Residences achieved a solid opening performance, with 132 units sold at a median price of $3,070 $psf. As the first CCR launch of the year, its performance signals a gradual stabilisation in prime segment sentiment. Buyers in this segment remain selective and tend to focus on well-located developments with strong connectivity and long term liveability attributes. The RCR contributed 12 percent of January sales, reflecting steady interest in city fringe projects where buyers continue to weigh affordability alongside accessibility.

Overall, January’s performance demonstrates that the market remains responsive to well positioned launches across segments. While transaction volumes may fluctuate month to month due to seasonality, underlying demand fundamentals remain constructive as 2026 progresses.

Click

here

for the full report: 

  

  

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

  

  

Email:

mohan@sri.com.sg

  

Property Insight
13 Feb 2026
Budget 2026 Analysis: What It Means for Singapore’s Property Market

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.

Click

here

for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
11 Feb 2026
What Lies Ahead for Singapore Rental Market in 2026

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.

 

Click

here

for the full report:  

 Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

  

  

Email:

mohan@sri.com.sg

  

Mask group
Singapore Realtors Inc

CEA License No. L3010738A

1 Kim Seng Promenade #17-10/12

Great World City, West Tower

Singapore 237994

+65 6958 5000

admin@sri.com.sg

For Home Owners

Buy
Sell
Rent
New Launch
Commission Guidelines

For Corporate

Property Management
Local Project Marketing
Capital Markets
Auction
International Project Marketing

For Agents

Why Join SRI?
Culture and Community
Technology & Tools
Mentorship
Training

Company

About
Team
Technology
Agent Reviews
Contact

© 2026 SRI Pte Ltd • Privacy Policy & Data Protection

Follow us on
iconiconiconiconicon