New home sales jump fourfold to 731 units in July

But analysts expect activity to slow temporarily in August.

Singapore developers sold 731 new private homes excluding executive condominiums (ECs) in July, more than four times the 156 units transacted in June as major project launches returned to the market.

Sales increased 368.6% month on month but remained 22.2% below the 940 units sold in July 2025. Developers launched 889 units during the month after no new private residential units were launched in June.

Analysts broadly described the recovery as supply-led, with Lentor Gardens Residences and Dunearn House accounting for 482 units, or 65.9% of July’s sales.

Lentor Gardens Residences was the month’s best-selling project, moving 270 of its 499 units at a median price of $2,357 psf. Dunearn House sold 212 of its 380 units at a median price of $3,111 psf.

PropNex Head of Research and Content Wong Siew Ying said the two developments accounted for about two-thirds of July’s sales. She noted that Dunearn House, the first private residential launch in the upcoming Bukit Timah Turf City precinct, could establish a reference price for future projects in the area.

SRI Head of Research and Data Analytics Mohan Sandrasegeran said the projects’ performances showed that demand remained resilient when well-located and competitively priced homes were introduced.

Affordability continued to shape purchasing decisions. About 58.1% of new non-landed private homes sold in July were priced below $2.5m, according to PropNex. SRI said the $2m to below-$3m segment accounted for 48.2% of sales, its highest monthly share in 2026.

Singaporeans made up about 87.5% of new non-landed private home buyers during the month. Foreign participation in the Core Central Region remained limited, with non-permanent resident foreigners accounting for seven transactions.

Sales for the first seven months of 2026 reached 4,885 units, down 11.6% from 5,527 units in the corresponding period last year. CBRE attributed the decline to fewer launches and higher price points.

Analysts expect sales to moderate in August during the seventh lunar month before picking up from mid-September, when projects including Amberwood at Holland, Lucerne Grand and The Serra Residences are expected to enter the market.

Huttons estimates that 150 to 250 units could be sold in August. For the full year, forecasts from CBRE, Huttons and Knight Frank broadly range from 7,500 to 10,000 units.

Whilst low mortgage rates, economic growth and healthy household finances are expected to support demand, Knight Frank Head of Research Leonard Tay warned that uncertainty over job security could make buyers more cautious in the coming months.

PropNex also said rising land and construction costs could make it increasingly difficult for developers to keep a substantial proportion of new homes within the below-$2.5m price range.