Q3 2026: private home prices rose 1.4% even as sales fell. Here's where the demand went
Are Singapore private home prices still rising?
Yes, and faster. URA's flash estimate shows private home prices up 1.4% in the third quarter of 2026, after 0.5% in the second. That's the biggest quarterly rise since late 2024. Suburban (OCR) condos led at +2.2%, while prime (CCR) prices slipped 0.1%. HDB resale prices dipped 0.2%, their third small fall in a row.
Prices up, sales down. In Q3, about 4,296 private homes changed hands up to mid-September, against 6,148 in the whole of Q2. Part of that drop is the flash estimate covering less than a full quarter, and part is August's Hungry Ghost lull. But even allowing for both, fewer buyers paid more.
What the flash estimate shows
| 3Q 2026 (flash) | 2Q 2026 | |
|---|---|---|
| All private homes | +1.4% | +0.5% |
| Landed | +2.8% | +2.5% |
| Non-landed | +0.9% | −0.1% |
| Prime (CCR), non-landed | −0.1% | +1.8% |
| City fringe (RCR), non-landed | +0.2% | −1.2% |
| Suburbs (OCR), non-landed | +2.2% | −0.1% |
| HDB resale price index | −0.2% | −0.3% |
The suburbs did the heavy lifting. The median price of a new non-landed home also jumped 9.6% to about $2,567 psf, which tells you new launches are pricing well above the resale market around them.
Where the buyers went
Lucerne Grand, Lakeside (OCR). CDL sold 350 of its 570 units, about 61%, on its 3–4 October launch weekend, at an average of $2,480 psf. Two-bedders started from $1.498 million. About 65% of the two-bedders and 62% of the three-bedders sold, and 93% of buyers were Singaporeans. That's a strong result for a suburban project priced at entry level for new launches.
Canberra Drive EC (Sembawang). The first executive condo site tendered under the new rules (a 10-year MOP, no deferred payment and an $18,000 income ceiling) drew 13 bids. That's the most for an EC site since 2018. The top bid of about $825 psf ppr is a record for EC land, above the previous high of $794. The result is still provisional until HDB awards the site. Developers clearly think demand for ECs will hold, even with the longer lock-in.
The prime districts were quieter. Amberwood at Holland sold 23 of 212 units on its September launch at about $3,019 psf. That's a slower start, at a total price most buyers have to stretch for.
HDB: records at the top, softness underneath
Resale volumes rose. There were 7,528 transactions by 29 September, 5.2% more than a year earlier. But the price index slipped again. The pattern from our August piece still holds: big, central flats keep setting records (a five-room at SkyTerrace @ Dawson just reached about $1,502 psf, an islandwide high), while the typical flat is levelling off.
What I'm watching in October
Two very different launches will tell us whether this strength spreads:
- The Serra Residences (Novena, freehold, 133 units) launches on 16 October, with lower floors from about $3,120 psf. It's a test of prime freehold demand after a flat quarter for the CCR.
- Thomson Reserve (Bright Hill, 1,268 units) previews from 17 October. A launch of that size near an MRT station is a good read on how deep suburban and city-fringe demand really runs.
If you're an upgrader eyeing the OCR, nothing in this quarter's data suggests prices there are about to soften. They're rising fastest, and well-priced launches are selling through. If you're planning to look at these previews, get your loan approval sorted first so you can decide on the day.