Take-up of new private homes dives 45% in Q3 as prices accelerate with 1.4% rise

[SINGAPORE] The take-up of newly launched private homes took a 44.7 per cent hit in the third quarter of 2026, as developers launched fewer projects in a slow season while overall residential prices picked up their pace.

Private home prices as a whole rose 1.4 per cent in Q3, faster than the 0.5 per cent registered in the second quarter. Overall, the private residential property price index chalked up the same gain as indicated in earlier flash estimates.

On average, private residential prices have risen 0.9 per cent per quarter in the first three quarters of 2026, similar to the pace recorded over the corresponding period in 2025, said the Urban Redevelopment Authority.

Private home rents also rose, increasing 1.3 per cent in Q3 from a 0.7 per cent gain in Q2. Rents of landed homes rose 2.1 per cent, while those of non-landed homes increased 1.2 per cent.

Developers’ sales of new private homes fell to 1,183 units in Q3 2026, down almost 45 per cent from 2,141 in the previous quarter.

Some 1,140 uncompleted private residential units, excluding executive condominiums (ECs), were launched in Q3, down from 1,783 in the previous quarter. Developers also sold 68 EC units in Q3, down from 175 in Q2. No new EC units were launched for sale in either quarter.

The stock of completed private residential units, excluding ECs, grew by 3,491 units in Q3, compared with an increase of 416 units in the previous quarter. Including ECs, total completions reached 3,559 units, the highest quarterly number since Q3 2024.

Landed home prices led the index, rising 2.9 per cent in Q3, up from a 2.5 per cent increase in the previous quarter. Prices of non-landed homes also gained pace, reversing from Q2’s 0.1 per cent dip and rising 1 per cent in Q3.

Among non-landed homes, prices in the suburban Outside Central Region rose the fastest, with the 2.3 per cent gain reversing a 0.1 per cent decline in the previous quarter.

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Prices in the prime Core Central Region flattened to a 0.3 per cent rise, moderating from a 1.8 per cent gain in Q2. In the Rest of Central Region, which covers city-fringe areas, prices were unchanged after falling 1.2 per cent in the previous quarter.

Meanwhile, resale transactions edged down to 3,801 units in Q3, from 3,813 in the previous quarter. Sub-sale transactions fell to 162 from 194.

On the supply front, about 57,200 private residential units, including ECs, are expected to be completed over the next few years. Of these, about 22,300 units are expected to be completed by 2028, with another 34,900 units projected from 2029 onwards.

Confirmed sites put up for sale in the government land sales programme for the second half of 2026 will offer 4,745 private residential units, bringing the full-year supply to 9,320 units.

HDB resale prices continue to fall

In public housing, Housing & Development Board (HDB) resale prices fell 0.1 per cent in Q3, extending their decline for a third consecutive quarter, data from the agency showed. Prices fell 0.3 per cent in Q2 and 0.1 per cent in Q1.

Resale flat transactions rose 19.5 per cent quarter on quarter to 7,645 in Q3, from 6,396 in Q2. The number was also 5.9 per cent higher than the 7,221 transactions recorded in Q3 2025.

HDB said it had not observed a significant increase in prices or in the number of resale flats purchased by existing and former private residential property owners since the 15-month wait-out period was removed on Jul 28.