Singapore Property · Q2 2026

A flat quarter for most — landed homes carried the market.

Overall private home prices inched up 0.5% in Q2 2026, but look beneath the headline: non-landed private homes and HDB resale prices — the segments where most households actually transact — both edged lower.

Jul 27, 2026 · 9 min read · Data as of 24 July 2026 · By Melvin Lau

Overall Private PPI (QOQ)

+0.0%

Slowing from +0.9% in Q1 2026

Non-Landed Private (QOQ)

0.0%

First dip after +1.3% in Q1

HDB Resale (QOQ)

0.0%

Second straight quarterly decline

Landed Homes (QOQ)

+0.0%

The segment that lifted the index

Scroll to explore

The headline says private home prices rose 0.5% in Q2 2026. But look one layer down and the quarter tells a different story: non-landed private homes slipped 0.1% and HDB resale dipped 0.3% — the two segments where most households actually transact. What lifted the index was landed property, up 2.5% on a pickup in transactions.

So before you read too much into any single headline number, here's the full quarter, segment by segment — and what it means if you're planning a move this year.

01 · Price Indices

One headline number, six different stories

Quarter-on-quarter price changes across URA's private residential indices. Toggle the segments to see how landed, non-landed, and each region moved since Q1 2025.

Source: PropNex Research, URA — QOQ % change in URA Private Property Price Index

Q2 2026 at a glance

Landed surged 2.5% on 568 transactions (up from 512). Non-landed slipped as RCR (−1.2%) and OCR (−0.1%) softened; CCR bucked the trend at +1.8% on high-end sales like Skywaters Residences, 21 Anderson and Park Nova.

Source: PropNex Research, URA

The half-year picture

Growth is easing across the board — 1H 2026 cumulative gains are running below both halves of 2025.

Overall PPI · 1H 2026

+0%

vs +1.8% in 1H 2025, +1.5% in 2H 2025

Landed · 1H 2026

+0%

Landed index cumulative gain

Non-Landed · 1H 2026

+0%

Easing from +1.7% in 1H 2025

Full-Year 2025 PPI

+0%

Baseline for 2026's 3–4% forecast

Landed surged on 568 transactions, up from 512 in Q1 — that volume is what carried the overall index. Within non-landed, the city fringe (RCR, −1.2%) and suburbs (OCR, −0.1%) softened, while the prime CCR bucked the trend at +1.8% on high-end deals at projects like Skywaters Residences, 21 Anderson and Park Nova.

Zoom out to the half year and the pattern is clear: growth is easing across the board. Overall prices gained 1.4% in 1H 2026, versus +1.8% in 1H 2025 and +1.5% in 2H 2025. For context, full-year 2025 came in at +3.3% — and 2026 is tracking a similar 3–4%.

02 · Transactions

Resale homes took centre stage

With a lighter launch calendar, resale transactions made up 62% of all private home sales in Q2 2026 — and resale volume jumped 18.2% quarter-on-quarter.

Q1 vs Q2 2026 (units)

Source: PropNex Research, URA (ex. EC)

Q2 sales mix

Resale share of overall private sales: 62.0%

New Home Sales · Q2

2,141

+6.4% QOQ from 2,013 · 1H total 4,154 (−9.4% YoY)

Resale Private · Q2

3,813

+18.2% QOQ from 3,225 units

New Units Launched · Q2

1,783

Down slightly from 1,844 in Q1

Landed Transactions · Q2

568

Up from 512 in Q1 — supporting landed prices

Read that together with the price dip and it's actually a healthy picture: buyers are transacting in numbers — they're just doing it in the resale market, where value is easier to see. New home sales still edged up 6.4% to 2,141 units, but first-half new sales of 4,154 units are running 9.4% below last year.

Hey — quick hello, I'm Melvin

If we haven't met: I'm Melvin Lau, a property strategist with PropNex (CEA R067207F). I read the market quarter by quarter and translate it into plans — I don't just open doors for viewings, I help homeowners sequence the big moves and run the numbers before they sign anything.

If any of this feels relevant to your own situation, just message me — no pitch, no obligation, happy to talk it through.

WhatsApp Melvin →

Marina Bay and Singapore's central business district skyline at dusk

The private home skyline · new launches met 2,141 buyers in Q2

03 · New Launches

Developers are pricing with affordability firmly in view

Over 80% of units sold at Tengah Garden Residences and Hudson Place Residences — and about 66% at Vela Bay — were priced below $2.5 million. Explore each Q2 launch:

—

Take-up rate

—

Sold below $2.5M

—

Units sold / total

Source: PropNex Research, URA Realis (data retrieved 24 July 2026) — share of sales by price range; may not add to 100% due to rounding

"New home sales have been steady despite a slightly lighter launch calendar — buyers are willing to commit in numbers where projects meet their value perceptions. Early Q3 signs are encouraging: Lentor Gardens Residences shifted 54% of its 499 units at around $2,350 psf — pricing power in well-located OCR projects remains intact." Kelvin Fong · CEO, PropNex

The takeaway for buyers: the market isn't weak — it's price-sensitive. Projects that meet buyers' value perception clear almost fully (Tengah Garden Residences sold 861 of 863 units at a 99.8% take-up); those that don't, move slower. That discipline is a sign of a rational market, not a distressed one.

04 · Supply & Rentals

Unsold stock stays manageable; rents keep climbing gently

Unsold uncompleted homes fell 7.2% to 14,929 units — at the 2016–2025 average sales pace of 9,106 units a year, that's roughly 1.5 years of absorption.

Unsold Uncompleted (ex EC)

14,929

−7.2% QOQ · near the record low of 14,087 (Q1 2022)

Rental Index · Q2 QOQ

+0%

Non-landed +0.4% · Landed +2.7%

Rental Contracts · Q2

22,290

+5.1% QOQ from 21,203

1H 2026 Rental Growth

+0%

vs +1.2% in 1H 2025

Upcoming completions pipeline (ex. EC)

Moderate supply in 2H 2026 keeps rentals stable near-term — but completions roughly double in 2027 and 2028.

Source: PropNex Research, URA

At roughly 1.5 years of absorption, developers are not sitting on a glut — unsold stock is near the record low set in Q1 2022. The number to plan around is the completions pipeline: if you hold an investment unit, 2027–28 is when tenants gain options and landlords feel the supply.

Colourful yellow and blue HDB apartment towers in a Singapore public housing estate

The HDB heartlands · 6,396 flats resold in Q2 2026

05 · HDB Resale

From strong appreciation to price stability

HDB resale prices dipped 0.3% — a second consecutive marginal decline. The index now sits about 0.4% below its Q3 2025 peak of 203.7, while transaction volume stayed healthy at 6,396 flats (+1.8% QOQ).

HDB resale price index — QOQ vs YOY (%)

Source: PropNex Research, HDB

Million-Dollar Flats · Q2

491

New quarterly record · +19.5% vs 411 in Q1 · past old record of 480 (Q3 2025)

Million-Dollar Flats · 2026 YTD

1,050

On pace to match/exceed 2025's record 1,593

Freshly MOP-ed Flats Sold

364

5.9% of Q2 sales (up from 4.5%) · 87 fetched ≥ $1M

Resale Volume · 1H 2026

12,681

vs 13,692 in 1H 2025

Who's selling? Lease balance of flats resold

Q1 vs Q2 2026 — note the rise in 94+ year leases (fresh MOP flats). Tampines, Bukit Batok and Punggol made up ~58% of those 364 sales.

Source: PropNex Research, data.gov.sg (retrieved 24 July 2026)

"The easing in resale prices came without a contraction in transaction activity. We expect volumes to stay healthy, supported by the larger pool of flats reaching their five-year MOP this year — with prices likely to rise by up to 1% for the whole of 2026." Wong Siew Ying · Head of Research & Content, PropNex

Q2 2026 vs Q3 2025 Peak

Index reading vs peak of 203.7 — moderation, not correction

06 · 2026 Outlook

What PropNex Research expects for the rest of 2026

Private Price Growth

+3–4%

Overall private residential prices for full-year 2026

New Home Sales

~9,000

Units (ex. EC) projected for the whole of 2026

Private Resale

14–15k

Resale private homes expected to change hands

HDB Resale Prices

≤ +1%

Broadly stable for full-year 2026

HDB Resale Volume

26–27k

Flats projected to be resold in 2026

"The headline price growth was mainly carried by the landed segment. From the perspective of many homebuyers, this may be seen as a flat quarter in view of the softer non-landed home prices." Kelvin Fong · CEO, PropNex

07 · Your Move

What this means for your next move

Three honest reads from this quarter:

If you're buying non-landed resale: this is the most breathing room you've had in two years. Prices are flat-to-soft while volume is up — sellers are realistic, and well-bought units are out there. The window is negotiation, not waiting for a crash that the supply numbers don't support.
If you're selling: pricing precision matters more than it did in 2024–25. Buyers are transacting — 62% of them in resale — but they're value-sensitive. Anchor to recent comparables, not to last year's peak.
If you own an HDB flat: stability is the story, not decline. Prices are 0.4% off the peak while million-dollar transactions set records — and the growing MOP supply means you have more competition if you sell, and more choice if you buy.

A flat quarter isn't a signal to freeze — it's a signal that the market is rewarding people who run the numbers properly. That's exactly the work I do with clients before they commit to anything.

Frequently asked questions

Did property prices go up or down in Q2 2026?

Overall private home prices rose 0.5% quarter-on-quarter, but the gain was carried by landed homes (+2.5%). Non-landed private homes dipped 0.1% and HDB resale prices fell 0.3%, so for most households the quarter was effectively flat.

Why did landed homes outperform in Q2 2026?

Landed prices rose 2.5% quarter-on-quarter on 568 transactions, up from 512 in Q1. Limited landed supply and renewed transaction activity in the segment lifted the overall private property price index.

Is the HDB resale market falling?

No. Resale prices dipped 0.3% in Q2 2026 — a second straight marginal decline — but the index is only about 0.4% below its Q3 2025 peak, volume stayed healthy at 6,396 flats (+1.8%), and million-dollar flat sales hit a record 491. PropNex expects prices to be broadly stable, rising up to 1% for the whole of 2026.

What were the best-selling new launches in Q2 2026?

Tengah Garden Residences led with a 99.8% take-up (861 of 863 units sold), followed by Vela Bay at 72.0% (371 of 515) and Hudson Place Residences at 65.1% (213 of 327). Most units sold at all three projects were priced below $2.5 million.

What is the property market outlook for the rest of 2026?

PropNex Research projects overall private prices to grow 3–4% for full-year 2026, with about 9,000 new home sales (ex. EC) and 14,000–15,000 private resale transactions. HDB resale prices are expected to be broadly stable (up to +1%) on 26,000–27,000 flats resold.

Wondering what Q2's numbers mean for your home?

The first conversation is complimentary — we'll map these market numbers against your own unit, equity and timeline before you decide anything.

WhatsApp Melvin →

Data as at 24 July 2026, per PropNex Research, URA, URA Realis, HDB and data.gov.sg — based on the PropNex news release “Landed Homes Lifted Overall Private Home Prices In Q2 2026”. Figures are subject to revision and rounding.

Marina Bay and the Singapore skyline at night

Reading the market for you, quarter after quarter