URA 1Q2026 Residential Market Report: Prices Stay Resilient Amid Rising Supply Pipeline

Singapore’s private residential market remained resilient in 1Q2026, with overall prices rising 0.9% quarter-on-quarter, slightly higher than the 0.6% increase in the previous quarter. While transaction volumes moderated amid economic uncertainty and elevated interest rates, underlying demand — particularly from owner-occupiers and HDB upgraders — continued to support the market.

At the same time, URA’s latest data points to a major increase in future housing supply, signalling that the market may gradually transition into a more balanced phase over the next few years.

Overall Market Performance

• Overall private home prices: +0.9%

• Non-landed homes: +1.3%

• Landed homes: -0.4%

The non-landed segment continued driving market growth, while landed homes saw a slight pullback after strong gains in the previous quarter.

OCR Continues Leading Price Growth

Core Central Region (CCR)

• Prices: +0.6%

• Previous quarter: -3.5%

Prime districts saw a modest recovery after a weaker quarter previously, supported by selective luxury demand.

Rest of Central Region (RCR)

• Prices: +0.8%

City fringe homes remained stable due to their balance between accessibility and affordability.

Outside Central Region (OCR)

• Prices: +2.2%

• Strongest-performing segment

OCR once again outperformed the broader market, driven largely by HDB upgraders and owner-occupiers prioritising affordability, connectivity, and practicality.

This reflects a broader market shift where buyers are increasingly focused on:

• Value-driven purchases

• Functional layouts

• Family-oriented developments

• MRT accessibility

Rental Market Stabilises

Overall private residential rents rose marginally by 0.3% in 1Q2026.

• CCR: +0.5%

• RCR: -0.2%

• OCR: +1.0%

The rental market is clearly normalising after the sharp post-pandemic surge seen in recent years. OCR continues to outperform due to stronger affordability-driven tenant demand.

📉 Buyers Turn More Selective

Developers launched and sold fewer units in 1Q2026:

• 1,844 units launched

• 2,013 units sold

Although volumes softened, this reflects growing buyer selectivity rather than weak demand. Purchasers today are placing greater emphasis on:

• Pricing

• Layout efficiency

• Connectivity

• Long-term resale potential

Meanwhile, the resale market continued gaining traction:

• 3,225 resale transactions

• Resales accounted for 59.6% of total transactions

Many buyers continue favouring resale homes due to:

• Immediate move-in availability

• Larger layouts

• Avoiding the 3–4 year construction wait for new launches

🏗️ Supply Pipeline Expands Significantly

The biggest takeaway from URA’s 1Q2026 report is the substantial upcoming housing supply.

Key Supply Figures

• 55,800 private homes expected to be completed

• Around 27,300 units by 2028

• Another 28,500 units from 2029 onwards

In addition:

• 42,561 units are already in the pipeline

• 17,032 units remain unsold

• Another 13,265 units are pending approval

The Government also increased the 1H2026 GLS Confirmed List supply to approximately:

• 4,600 units

• Around 50% above the past decade’s average half-yearly GLS supply

What This Means

The Government is clearly moving to prevent excessive price growth and improve long-term housing availability.

Over the past few years, limited supply and delayed completions supported rapid price and rental growth. However, as more projects complete from 2026 onwards:

• Buyers will enjoy more options

• Competition among developers may intensify

• Rental growth could moderate further

• Vacancy risks may increase in supply-heavy areas

This does not necessarily point to a market downturn, but rather a shift toward a more selective market where stronger projects are likely to outperform weaker ones.

Promising projects includes:

• MRT connectivity

• Strong school catchments

• Efficient layouts

• Limited nearby competing supply 

Market Outlook

Singapore’s residential market remains fundamentally supported by:

• Stable employment

• Healthy household balance sheets

• Limited distressed selling

• Strong upgrader demand

However, the market is gradually moving away from the supply-tight conditions seen post-pandemic.

Going forward, the market is likely to see:

• More sustainable price growth

• Greater buyer selectivity

• Increased differentiation between projects

Well-located OCR and city fringe developments are expected to remain relatively resilient due to their affordability and broad owner-occupier demand base.

URA’s 1Q2026 statistics show that Singapore’s residential market continues to demonstrate resilience despite economic uncertainty. However, the sharp increase in future supply suggests the market may gradually shift toward a more balanced environment over the coming years.

As the market becomes increasingly selective, factors such as location, connectivity, pricing, and project quality will play an even greater role in determining long-term performance.

Whether you are looking to upgrade, invest, or position yourself ahead of upcoming market shifts, feel free to reach out for a personalised consultation.