Singapore private home prices rise 0.9% in Q1, beating flash estimates

The non-landed segment was the key growth driver.

Singapore’s private housing market gathered pace in Q1 2026, with prices rising faster than expected amid resilient demand, according to CBRE, citing official data.

Private home prices increased 0.9% quarter-on-quarter, sharply above the flash estimate of 0.3% and accelerating from 0.6% growth in Q4 2025. CBRE attributed the late-quarter surge to strong March sales, including robust take-up at new launches such as Pinery Residences and Rivelle EC in Tampines West.

The increase was driven by the non-landed segment, which rose 1.3% q-o-q, reversing a 0.2% decline in the previous quarter. Growth was led by the Outside Central Region (OCR), where prices climbed 2.2%, while the Core Central Region (CCR) rebounded 0.6% after a 3.5% decline in Q4 2025. The Rest of Central Region (RCR) also saw modest acceleration, rising 0.8%.

In contrast, landed property prices dipped 0.4% during the quarter.

Rental performance also improved, with the private residential rental index rising 0.3% q-o-q after a 0.5% decline in Q4 2025. Non-landed rents increased 0.4%, supported by a rebound in the OCR segment, while landed rents edged up 0.1%.

Despite fewer completions, overall occupancy weakened. Only 911 units were completed in Q1, but the increase in occupied units slowed sharply to 225 units, contributing to higher vacancy rates across most regions. Vacancy in the CCR eased to 8.2%, while the RCR and OCR rose to 6.3% and 5.2% respectively.

New home sales moderated, with developers selling 2,013 units in Q1 2026, down 31.5% from the previous quarter and 40.4% year-on-year. CBRE said the decline reflects a high base in 2025, when strong launches and falling mortgage rates drove above-trend sales.

However, buyer sentiment remained resilient in March despite geopolitical uncertainty linked to the Middle East conflict, supported by low mortgage rates and stable household incomes.

Looking ahead, Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, said demand is expected to remain supported by upcoming launches, particularly in the OCR, including projects in Bayshore and Tengah.

She added that while buyer appetite has held up, prolonged geopolitical tensions and inflationary pressures could lead to more cautious and selective purchasing behaviour, making realistic pricing critical for developers.

CBRE Research expects new home sales to moderate to between 7,500 and 8,500 units in 2026, following 10,815 units in 2025, while forecasting private home price growth of 2% to 4% for the year, indicating a stable but slower expansion phase.