Prime home sales ease in Q2

Resale properties accounted for 88.6% of transactions as no new projects entered the market.

Sales of prime non-landed homes declined in the second quarter of 2026 amid the absence of new project launches, according to JLL.

Resale transactions accounted for 88.6% of prime-home sales during the quarter. New sales were supported by the continued take-up of units at previously launched developments, led by River Modern, UpperHouse at Orchard Boulevard and River Green.

Luxury residential capital values reached $3,530 psf, representing a 1.2% increase from the same period in 2025.

Gross rents in the luxury segment stood at $7.88 psf per month, down 0.4% YoY. However, prime non-landed rents increased on a quarterly basis.

JLL attributed the quarterly rental growth partly to demand from people relocating to Singapore for shorter stays amid global uncertainty.

Vacancy remained stable as steady occupier demand and the withdrawal of Newton Mansion from the housing stock offset an increase in prime-home completions.

Singapore recorded 190 prime and luxury residential completions in the first half of 2026, compared with approximately 1,300 units for the whole of 2025.

JLL expects prime-home prices to remain supported by local buyers and safe-haven demand for wealth preservation. However, geopolitical uncertainty and the possibility of interest-rate increases could weigh on overall market activity.

The consultancy also expects rents for typical prime homes to grow faster than those for luxury prime properties in 2026, as cost-conscious tenants seek better-value options amid slower hiring.

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