Singapore new home sales fall to 246 units in February amid launch lull

Private home sales dropped 85% YoY, but a quick rebound is expected.

Singapore’s new private home sales slowed in February, with developers selling 246 units (excluding executive condominiums) during the month amid a lack of fresh project launches and the Chinese New Year festive period, according to PropNex.

The February figure represents a 47% drop from the 466 units sold in January and an 85% decline year-on-year from the 1,597 units transacted in February 2025, based on analysis by PropNex.

Despite the softer performance, the agency said the dip reflects limited supply rather than weakening demand. Developers have sold 712 new private homes in the first two months of 2026, excluding executive condominiums.

PropNex noted that sales momentum is likely to rebound quickly as new launches enter the market. The firm pointed to strong early demand at River Modern, where transactions during its launch weekend in early March have already surpassed February’s total sales.

New supply was limited in February, with developers releasing just 15 new units from the landed housing project Pollen Collection II. This compares with 786 new units launched in January, highlighting the sharp slowdown in fresh inventory.

Sales declined across all market segments. In the Core Central Region, new home sales fell 61% month-on-month to 63 units, down from 162 units in January when the launch of Newport Residences boosted transactions. The project remained the top-selling development for the second consecutive month, moving 32 units at a median price of $3,059 psf, with about 66% of its 246 units sold since its January launch.

In the Outside Central Region, developers sold 80 units, down from 183 units in January when Narra Residences entered the market. February’s top sellers included Chuan Park, which sold 14 units, and Narra Residences, which transacted 12 units.

The Rest of Central Region recorded 103 units sold, about 15% lower month-on-month. Sales were led by existing projects such as Pinetree Hill and One Marina Gardens. The most expensive transaction during the month was a 4,833 sq ft unit at Union Square Residences sold for $18.5 million.

The executive condominium segment also slowed sharply. Only 20 EC units were sold in February, compared with 524 units in January, when the launch of Coastal Cabana EC drove activity. The top EC project during the month was Otto Place EC.

Looking ahead, PropNex expects market activity to pick up as new projects are launched, including the upcoming **572-unit Rivelle Tampines EC later in March.