Singapore private residential supply to reach over 12,300 units by 2028

It’s a significant increase from 7,968 units by 2026.

According to an OrangeTee report, being an export and trade-reliant country, Singapore will likely feel the brunt of the tariff regime as the United States (US) is one of our major trade destinations. Potential trade wars triggered by the US tariff policies could raise inflation in the US, potentially causing interest rates to remain elevated for a longer period.

This is despite many countries, including Singapore, implementing rate cuts since mid-2024 in response to declining inflationary pressures over the past year.

Here’s more from OrangeTee:

Trade tensions may lower Singapore's GDP growth trajectory, prompting potential homebuyers to take a more cautious stance as they consider the risks associated with an unpredictable economic landscape.  

Nevertheless, the private residential market is currently driven by domestic buyers, particularly HDB upgraders, who enjoy strong proceeds from the sale of their flats. If employment remains stable, income continues to grow, and the HDB market continues to thrive, consumer confidence and spending are expected to remain favourable, which will, in turn, benefit the private residential market.

Moreover, there has been a progressive ramp-up in the overall housing supply through the Government Land Sales. The pipeline supply of private residential units and EC completions will rise from 7,968 units in 2026 to 12,392 units in 2028. The increasing housing supply may mitigate a substantial rise in home prices over the next few years.