Singapore executive condo sales top 1,000 units for the first time in 13 quarters

An estimated 1,355 new homes (ex. EC) and 1,087 new EC units were sold in Q1.

Singapore’s private housing market saw moderated transaction activity in Q1 2026, though underlying demand remained resilient, according to PropNex, citing URA developers’ sales data and caveats.

Developers sold an estimated 1,355 new private homes (excluding executive condominiums, ECs) as at 22 March, with volumes potentially nearing 2,000 units when additional transactions from Pinery Residences are included, PropNex said. In the EC segment, about 1,087 units were transacted—marking the first time sales crossed the 1,000-unit threshold in 13 quarters, since Q4 2022.

By comparison, developers moved 2,940 new private homes (ex. EC) and just 80 EC units in Q4 2025, highlighting a sharp rebound in EC demand.

The resale market showed signs of cooling, with around 2,662 private homes resold in Q1 (as at 24 March), down from 3,529 units in the previous quarter. Sub-sales also continued to decline, with 115 transactions recorded, likely marking a fourth consecutive quarterly drop.

Kelvin Fong, CEO of PropNex, said the market remains supported by genuine buying demand despite softer volumes. “Private home sales in Q1 2026 reflected a measured but still a relatively well-supported market,” he said, noting that buyers continue to favour “sensibly-priced projects in attractive locations” with strong connectivity and amenities.

Fong highlighted the Core Central Region (CCR) as a bright spot, with projects such as River Modern and Newport Residences seeing healthy take-up driven mainly by local buyers. He added that following the April 2023 hike in Additional Buyer’s Stamp Duty (ABSD) for foreigners, the CCR has become increasingly supported by domestic demand, alongside a narrowing price gap with city-fringe homes.

In the mass market, demand in the Outside Central Region (OCR) remained stable, supported by launches such as Narra Residences and Pinery Residences. PropNex expects further price upside in Q2 amid upcoming projects including Vela Bay, Tengah Garden Residences and Lentor Gardens Residences.

Meanwhile, the EC segment stood out as a key performer, with strong interest from first-time buyers and HDB upgraders driving brisk sales at projects like Coastal Cabana and Rivelle Tampines. Despite rising prices, ECs continue to attract buyers due to their relative affordability, limited supply and potential for future capital appreciation, Fong said.

Looking ahead, PropNex projects developers’ sales to reach about 9,000 units (ex. EC) in 2026, while resale volumes may come in at 14,000 to 15,000 units. Overall private home prices are expected to post moderate growth of 3% to 4% for the year.

Fong added that while geopolitical tensions may introduce near-term uncertainty, the impact on demand could be contained as most homebuyers take a long-term view, supported by still-accommodative financing conditions.