Singapore private home sales to rebound in January after year-end lull

Thanks to two key projects slated for launch - Narra Residences and Newport Residences.

Singapore’s private residential market ended 2025 on a quieter note, but strong launches in January are expected to reignite activity, according to Wong Siew Ying, Head of Research and Content at PropNex.

“Developers’ sales ended the year on a decidedly quieter note, with 197 new units (excluding executive condominiums) sold – the lowest monthly tally since February 2024,” Wong said. She noted that the muted December sales largely reflected the lack of major new project launches during the month.

PropNex anticipates that transaction volumes will pick up substantially in January, with two key projects – Narra Residences in the Outside Central Region (OCR) and Newport Residences in the Core Central Region (CCR) – slated for launch. “Based on price guidance from developers, we anticipate buyers could respond positively, with one-bedroom units starting from $998,000 at Narra Residences and $1.298 million at Newport Residences,” Wong explained. She added that Newport Residences represents a rare opportunity for freehold condos in the city centre, the last launch being Sky Everton in 2019.

The Executive Condominium (EC) market is also expected to provide a boost. PropNex highlighted that the upcoming sales booking for Coastal Cabana EC, starting 17 January 2026, will likely spark pent-up demand. “This is the first EC launch in Pasir Ris since Sea Horizon in 2013. Prices start from $1.438 million for three-bedroom units and $1.623 million for four-bedroom units,” Wong said.

Annual sales reached highest level in four years

PropNex reported that, despite the December lull, developers sold a total of 10,821 new homes (excluding ECs) in 2025 – the highest annual total in four years. Wong attributed the strong year-on-year performance to easing interest rates, improved buyer sentiment, and a greater number of launches throughout the year. “About 66% of new non-landed private homes sold in 2025 were priced below $2.5 million, suggesting pricing was compelling enough to attract buyers,” she noted.

Looking ahead, PropNex estimates that around 9,700 private homes (excluding ECs) from 24 projects, along with five EC projects totaling some 2,300 units, are potentially in the launch pipeline for 2026. Wong explained that approximately 26% of these units will be in the CCR, 17% in the RCR, and 57% in the OCR, providing more affordable housing options for mass-market buyers and HDB upgraders.

Local buyers continue to dominate

Wong noted that Singaporean buyers accounted for 84.6% of new non-landed private homes sold in December, while permanent residents made up 13.7%, and non-residents just 1.6%. “All in, 153 new non-landed private home transactions in 2025 were by non-residents, representing 1.4% of the total – on par with 2024,” she said.

Market outlook for 2026

Looking ahead, PropNex expects private home sales to continue to be driven by local buyers. “Developers are likely to keep launch prices competitive in view of price sensitivity and affordability concerns among Singaporeans. The relatively stable interest rate expectations in 2026 may also lead to a steadier market, less fueled by rate-cut optimism and hype,” Wong said.

For 2026, PropNex forecasts that developers’ sales could range from 8,000 to 9,000 units (excluding ECs), potentially reaching the higher end of the range if market conditions remain supportive.