Property sentiment rebounds to 5.6 in Q2 but stays below 2025 peak

Future sentiment also improved but by a smaller margin than current.

Singapore's real estate sentiment climbed back into optimistic territory in the second quarter (Q2) of 2026, according to the National University of Singapore's (NUS) Real Estate Sentiment Index.

The Composite Sentiment Index rose to 5.6 in Q2 from 4.9 in the previous quarter, moving further above the neutral mark of 5.0.

The Current Sentiment Index increased to 5.6 from 4.9 over the same period, whilst the Future Sentiment Index rose to 5.5 from 5.0.

NUS Real Estate said the indices performed better across the board—a significant improvement in overall market sentiment—following a “robust” economic performance in the first half of the year.

Qian Wenlan, Ng Teng Fong Chair Professor in Real Estate at NUS, attributed the rebound to a “more sanguine economic outlook” following a better-than-expected first-half performance.

Qian pointed to commercial space—including office, business parks, and industrial/logistics—as a significant contributor to the rebound.

The composite index declined for roughly a year from the third quarter (Q3) of 2022 into Q3 2023, before recovering steadily over five consecutive quarters through to the fourth quarter of 2024.

It then dropped sharply in the first quarter (Q1) of 2025—its steepest single-quarter fall across the whole period—before rebounding quickly to reach the series' high point by Q3 in the same year.

A second decline followed into Q1 2026, before the latest rebound in Q2.

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