How many private homes are sold in Singapore each quarter?

Q1 2026 recorded 5,413 private residential transactions: 2,013 new sales, 3,225 resale and 175 sub-sales. Resale therefore took 59.6% of volume, and the sub-sale count was the lowest since Q1 2022. Across the whole of 2025 the market ran to 26,492 private transactions, of which 14,622 were resale and 10,815 were new sales.

Is there an oversupply of condos in Singapore?

Not on completions. The 2026 completion forecast is 6,083 to 6,282 units, about 43% below the ten-year average of 10,837. The pipeline behind that is large, 42,561 units in planning with 17,032 unsold and already approved, and Government Land Sales added roughly 4,600 units on the H1 2026 confirmed list, about 50% above its ten-year average. So supply is thin now and thickens later, which is a timing question rather than a glut.

What are Singapore rents doing in 2026?

Flattening after the 2022 to 2023 surge. The URA rental index rose 0.3% quarter on quarter in Q1 2026 and the median private rent held at S$5.13 per square foot per month. Cushman and Wakefield expect 2% to 4% for the full year. Rent growth running below price growth is what compresses yields, and it is the single most important number for anyone buying to let.

How current is this page?

It reads the market on URA's Q1 2026 release, the most recent full quarter of official data, together with 2025 full-year figures from URA, HDB and Savills. Every quarterly release moves these numbers, so each figure below is dated and the underlying quarter-by-quarter records are linked in the archive at the end.

Singapore Property Market 2026: Prices, Supply, Demand

Q: Is the Singapore property market rising or falling in 2026?

Rising, slowly. URA's private residential price index gained 0.9% quarter on quarter in Q1 2026, the sixth consecutive quarterly increase. The gain is broad rather than concentrated: non-landed rose 1.3%, and by region the Outside Central Region led at plus 2.2%, ahead of the Rest of Central Region at plus 0.8% and the Core Central Region at plus 0.6%. Analysts at Huttons, ERA and Cushman and Wakefield put full-year 2026 growth in a 2% to 5% band.

Q: What share of Singapore property is bought by foreigners?

1.2% of private residential deals in 2025, or 297 transactions, against Singapore citizens at 83.7%. The foreign count rose 10% year on year, but off a historic low set after additional buyer's stamp duty for foreigners went to 60% in April 2023. Anyone reading Singapore as a foreign-money market is reading a market that does not exist in the data.

Quick answer: Singapore’s private residential market is in a slow, broad upcycle. Prices have risen for six straight quarters, the latest at 0.9% quarter on quarter, volume runs near 5,400 deals a quarter with resale taking 59.6%, foreign buyers account for 1.2% of transactions, and 2026 completions sit about 43% below the ten-year average.

This page is the standing reading of the market. It carries the current state on the latest official data and links each quarter’s detail underneath. Data vintage: URA Q1 2026 release, plus 2025 full-year figures from URA, HDB and Savills.

Prices: six quarters up, and the mass market leading

The URA private residential price index rose 0.9% quarter on quarter in Q1 2026, its sixth consecutive gain, and what matters more than the headline is which parts of the market produced it.

Segment	Q1 2026 change	Reading
Outside Central Region (OCR)	+2.2%	Mass market, where HDB upgraders buy
Rest of Central Region (RCR)	+0.8%	The city fringe
Core Central Region (CCR)	+0.6%	Prime, where the 60% foreign duty bites hardest
Non-landed overall	+1.3%	The condo market as a whole

The order of that table is the story of the current cycle. Growth is strongest furthest from the centre and weakest in prime. That is the shape of a market driven by domestic upgraders rather than by international capital, and it is the direct consequence of the duty structure described in the ABSD guide. Prime stock is not cheap because it is unwanted; it is soft because the buyer pool most likely to want it pays 60% on entry.

Forecasts for the full year cluster at 2% to 5%, published by Huttons, ERA and Cushman and Wakefield. The detail and the risks behind that band are in the 2026 price forecast, and the district-level breakdown of the quarter is in the Q1 2026 price index recap.

Volume: resale is the market

Q1 2026 recorded 5,413 private residential transactions.

Type	Q1 2026 units	Share
Resale	3,225	59.6%
New sales (primary)	2,013	37.2%
Sub-sales	175	3.2%

The sub-sale line is the one professionals read first. Sub-sales are units resold before legal completion, the closest thing Singapore has to a flipping indicator, and 175 is the lowest quarterly count since Q1 2022, which tells you buyers in this cycle are holding.

Across the whole of 2025 the market ran to 26,492 private transactions: 14,622 resale, up 4% on 2024, and 10,815 new sales, up 67%. That 67% jump is not a return of speculation. It is the HDB upgrader wave: 28,986 HDB resale flats changed hands in 2025, and the households selling them moved their equity into OCR and RCR launches. The full resale record is in the 2025 private resale recap and the public-housing side in the HDB resale market recap.

Who is buying: a domestic market

Buyer type	Share of 2025 private deals
Singapore citizens	83.7%
Foreigners	1.2% (297 transactions)

The foreign count rose about 10% year on year, but from a historic low. Since April 2023 a foreign buyer without treaty relief pays 60% additional buyer’s stamp duty on a residential purchase, on top of buyer’s stamp duty, and that single number explains the 1.2%. Permanent residents pay 5% on a first home, 30% on a second and 35% on a third, which is why the PR route changes the arithmetic so sharply; the comparison is set out in the permanent resident property guide.

The practical consequence for an overseas buyer is that Singapore price movements are set by Singaporean households. Reading the market for signs of foreign inflow is reading the wrong 1.2%, and the full breakdown of that share is in the foreign buyer share recap.

Supply: thin now, heavier later

This is where the market’s most common misreading sits, because two true statements point in opposite directions.

Measure	Figure	Timing
2026 completions forecast	6,083 to 6,282 units	Now
Ten-year average completions	10,837 units	Reference
Units in planning pipeline	42,561	Ahead
Unsold units with planning approval	17,032	Ahead
Expected 2026 launches	9,732, 64% in OCR	This year
GLS confirmed list, H1 2026	About 4,600 units, some 50% above its ten-year average	Ahead

Completions in 2026 land about 43% below the ten-year average, which tightens the near-term stock a tenant or a buyer can actually move into. Behind that sits a pipeline of tens of thousands of units and a Government Land Sales programme running well above its own average. Both are true. The distinction that resolves them is time: approvals and land sales are not homes, and the gap between the two is measured in years.

The detail is split across the unsold inventory recap, the completions pipeline, the GLS supply note and the H1 2026 launch pipeline.

Rents: slower than prices, which is the yield problem

The URA rental index rose 0.3% quarter on quarter in Q1 2026 and the median private rent held at S$5.13 per square foot per month, while Cushman and Wakefield forecast 2% to 4% for the full year.

Set that against a price forecast of 2% to 5% and the arithmetic is unavoidable: when rents grow no faster than prices, gross yield does not improve. Anyone underwriting a Singapore purchase on rental income should model the rent line separately from the capital line rather than assuming both rise together. The quarter’s detail is in the rental market recap and the year ahead in the rent forecast.

Policy: what changed and what did not

The last structural change was the seller’s stamp duty ladder. From 4 July 2025 it runs four years at 16%, 12%, 8% and 4%, replacing a three-year ladder at 12%, 8% and 4%. The holding period a seller must clear before duty falls away is therefore a year longer than it was, which matters to anyone whose plan involved an exit inside four years. The SSD change note sets out the ladder and the seller’s stamp duty guide the mechanics.

Buyer-side duty has not moved since April 2023. Foreign buyers remain at 60% ABSD, and loan-to-value ceilings remain at 75%, 45% and 35% by number of outstanding housing loans.

What this data does not tell you

An index is an average, and averages hide the transaction you are actually contemplating.

The index is national. A 0.9% quarterly gain is not a promise about any single project, district or unit type. Two units in the same development can move in opposite directions in the same quarter.
Volume is not liquidity for your specific unit. Resale ran at 3,225 units across the whole island in a quarter. Distributed across 28 postal districts and every size band, the number of comparable trades behind any one valuation is small.
Forecasts are a band, not a number. Three houses published 2% to 5%. The band is that wide because the inputs, interest rates, launch timing and policy, are not knowable a year out.
Completion figures are forecasts too. Construction slips. A 6,083 to 6,282 range is a plan, and plans move.
Nothing here prices your entry. Duty, legal costs and financing sit on top of the price, and for a foreign buyer the duty line is the largest single item, so the cost of buying guide puts real numbers against a specific purchase.

The quarterly record

Each release is kept as a dated record rather than folded into this page, so the series stays readable and the figures stay attributable to the quarter that produced them.

Record	Covers
Property market Q1 2026	URA quarterly recap, volume and prices
Price index Q1 2026	Index by region and property type
Price forecast 2026	House forecasts and the risks behind them
Unsold inventory Q1 2026	Planning pipeline and approved unsold stock
Completions 2026	Completion forecast against the ten-year average
GLS supply H2 2026	Government Land Sales pipeline
New launches H1 2026	Launch calendar and sell-through
EC launches 2026	Executive condominium pipeline
Private resale volume 2025	Full-year resale record
HDB resale market 2025	Public housing volume and upgrader flow
HDB upgrader demand 2026	How MOP supply feeds private launches
Foreign buyer share 2025	Savills breakdown by buyer nationality
Rental market Q1 2026	Rental index and median rents
Rent forecast 2026	Rent outlook for the year
SSD cooling measures July 2025	The four-year seller’s duty ladder

Frequently Asked Questions

Is the Singapore property market rising or falling in 2026?

Rising slowly. URA's private residential price index gained 0.9% quarter on quarter in Q1 2026, a sixth consecutive quarterly increase, led by the Outside Central Region at plus 2.2% and trailed by prime at plus 0.6%. Full-year forecasts from Huttons, ERA and Cushman and Wakefield sit in a 2% to 5% band.

How many private homes change hands each quarter?

5,413 in Q1 2026: 3,225 resale, 2,013 new sales and 175 sub-sales. The sub-sale count was the lowest since Q1 2022. Across 2025 the market ran to 26,492 private transactions.

What share of Singapore property is bought by foreigners?

1.2% of 2025 private residential deals, 297 transactions, against citizens at 83.7%. The 60% additional buyer's stamp duty introduced in April 2023 is the reason the share sits where it does.

Is Singapore heading for a condo oversupply?

Not in the near term. Completions in 2026 are forecast at 6,083 to 6,282 units, roughly 43% below the ten-year average of 10,837. The pipeline behind that is larger, 42,561 units in planning and 17,032 unsold with approval, so the supply question is about timing rather than about a glut today.

What are Singapore rents doing?

The URA rental index rose 0.3% quarter on quarter in Q1 2026 and the median private rent held at S$5.13 per square foot per month, with Cushman and Wakefield forecasting 2% to 4% for the year. Rents growing no faster than prices means gross yields do not improve.

Has Singapore changed its property rules recently?

The last structural change was on 4 July 2025, when the seller's stamp duty ladder went to four years at 16%, 12%, 8% and 4%, from three years at 12%, 8% and 4%. Buyer-side duty and loan-to-value limits have not moved since April 2023.

Sources

URA quarterly real estate statistics for the price index, transaction volumes, the rental index and the supply pipeline; HDB for resale volume; Savills for the buyer nationality split; Huttons, ERA and Cushman and Wakefield for the published 2026 forecasts. Figures are stated as at the URA Q1 2026 release together with 2025 full-year data, and each quarterly record linked above carries its own detail and date.