Luxury condo deals climb in Q1 despite uncertainty from Middle East crisis: report

[SINGAPORE] Luxury condominium transactions in Singapore’s Core Central Region (CCR) gathered pace in the first quarter of 2026, with 75 units sold, up from 54 units the previous quarter.

These units each sold for at least S$5 million and above S$3,000 per square foot (psf).

The latest figure represents the highest quarterly transactions of such homes since 84 units were sold in Q4 2023, said Realion (OrangeTee & ETC) Group in its Q1 2026 Luxury Market report on Tuesday (Apr 14).

The recent quarter’s sales also reflect a broader, “robust” demand for luxury homes in Singapore, despite spillover effects from the ongoing conflict in the Middle East, the real estate company added.

“This indicates that many (buyers) were not deterred by the macroeconomic uncertainties as they probably view luxury homes here as long-term secure assets. It also reinforces Singapore’s reputation as a safe haven for wealth preservation during turbulent times.”

New home sales on the rise

Landed and non-landed home deals of at least S$5 million in the CCR totalled 188 in Q1.

The figure, which comprises new sales and resale transactions, is higher than the 186 units sold in Q4 2025 and the 177 units sold in Q3 2025.

Fifty-five new luxury homes were transacted in Q1, marking a new high since Q4 2023, when 74 such units were transacted. The total transaction value for these homes also rose to S$400 million in Q1, up from S$330 million in the previous quarter.

The bulk of Q1’s luxury new sales were from the launch of River Modern, where 38 such units priced at S$5 million and above were sold. This was followed by transactions for units in Skye at Holland, Upperhouse at Orchard Boulevard and Watten House, with three each.

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New homes sold in Q1 also included units in 32 Gilstead, Park Nova, Newport Residences, 21 Anderson and The Giverny Residences, as well as two landed properties.

While new sales rose, resale transactions dipped slightly to 133 units in Q1, from 139 units in the previous quarter. The total transaction value for resale deals also fell to S$1.3 billion, from S$1.43 billion.

The Draycott and Leedon Residence had the most transactions, with six units sold each. Paterson Suites, Nassim Jade and Goodwood Residence sold four units each. Boulevard 88 and Regency Park each had three units transacted.

GCB transactions fall

There were fewer sales of Good Class Bungalows (GCBs) in Q1, with four such deals. This was down from the nine transactions in the previous quarter.

Of the four GCBs sold in Q1, the priciest was one in the Gallop Road or Woollerton Park GCB Area, which sold for S$31.5 million.

Another, at Brizay Park, transacted at S$26.6 million; one in Victoria Park changed hands at S$22 million; and another in Chestnut Avenue sold for S$11.5 million.

The highest psf price transacted in Q1 was for a resale condo unit on the 19th floor of The Marq on Paterson Hill, which sold for S$5,937 psf or S$37 million.

This was followed by a 270 square metre unit at Park Nova that was transacted at S$5,161 psf or S$15 million in February.