Secondary home sales fall 9.6% in Q1 as market activity weakens

Resale housing activity contracted again as quarterly demand weakened.

Secondary sales of private residential properties in Singapore fell for a second consecutive quarter in the first quarter (Q1) of 2026, declining 9.6% quarter on quarter (QoQ), according to a report from Savills Research.

Secondary sales peaked between the second and third quarters of 2021 at over 5,000 units, but volumes then fell through 2022 and 2023.

The market recovered in Q2 and Q3 2024 to over 4,000 units before easing again. Volumes in 2025 were slightly stable, recording about 4,000 units, before declining again in Q1 2026.

The Q1 decline followed an 8.7% fall in the fourth quarter of 2025, with the report linking the drop to weaker activity across all market segments, a shift in demand towards the primary sales market, fewer home completions, and resale supply.

All three segments recorded QoQ declines, with Core Central Region (CCR) falling 11.7% to 616 units, and Rest of Central Region (RCR) dropping 11.4% to 996 units.

Both segments recorded their lowest resale volumes since Q1 2024, when CCR and RCR posted 499 and 913 units, respectively.

Outside Central Region (OCR) declined 7.7% to 1,788 units from 1,937 units in the previous quarter, recording its lowest level since Q1 2024, when volumes stood at 1,654 units. OCR accounted for the largest share of secondary sales.

The smaller decline in this segment reflected lower entry price points for potential buyers, compared with rising prices in new launches, the Savills report noted.

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