17 August 2026, Singapore - Developers' sales rebounded in July, hitting a three-month high, boosted by healthy take-up at new project launches during the month. New private home sales came in at 731 units (excluding Executive Condominiums) in July, more than four times the 156 units transacted in the previous month. It is the highest monthly sales since April 2026, when 1,548 new units were sold. However, sales were down year-on-year, falling by 22% from the 940 units sold in July 2025.

Two major new private residential projects hit the market in July, namely Lentor Gardens Residences in the Lentor Hills precinct and Dunearn House in the upcoming Bukit Timah Turf City. Collectively, sales at the two projects accounted for about 65.9% of the month's new private home sales. In addition, two boutique projects - the 27-unit The Bronze in the Novena Planning Area, and 20-unit Duet@Emily in Mount Emily Road - were also launched during the month. According to URA data, developers launched 889 new units (ex. EC) for sale in July, following a dearth of launches in June amid the school holidays.

Source: PropNex Research, URA (17 August 2026)

New home sales during the month were led by the Outside Central Region (OCR), where developers sold 334 new units, nearly six times the 57 units transacted in the previous month. The top-selling OCR project in July was the 499-unit Lentor Gardens Residences, which sold 270 units at a median price of $2,357 psf (see Table 2). Despite being the seventh new launch in the Lentor Hills precinct, the project saw good take-up, reflecting healthy demand for new mass-market homes. The relatively limited unsold inventory in the precinct may also have supported buyer interest.

The Core Central Region (CCR) also saw a notable recovery in July, with the launch of Dunearn House providing a strong boost to sales in this sub-market. Developers sold 235 new units during the month, the highest monthly sales volume for the CCR since March 2026, when 472 units were transacted. Dunearn House accounted for about 90.2% of the CCR sales in July, selling 212 units at a median price of $3,111 psf. The 380-unit project is the first new private residential development to launch in the upcoming Bukit Timah Turf City precinct, and its sales performance points to keen interest for well-located new homes in prime districts.

Meanwhile, sales in the Rest of Central Region (RCR) rose as buyers bought into units at previously launched projects. Developers sold 162 new units in July, up by 92.9% month-on-month (MOM) from the 84 units transacted in June. The top-selling RCR project in July was Union Square Residences, which sold 34 units at a median price of $2,798 psf. Several RCR projects also continued to pare down their unsold stock, including Hudson Place Residences and One Marina Gardens, which sold 21 and 18 units respectively during the month.

In the EC segment, developers sold 27 new units in July, compared with 28 units transacted in June. Coastal Cabana EC was the top-selling EC project, moving 18 units at a median price of $1,829 psf. The supply of unsold new EC units in the market remained tight, with just 154 units available as at end-July, according to URA data.

Ms Wong Siew Ying, Head of Research & Content, PropNex Realty said:

"July's rebound in sales is mainly supply-led as the two major new launches - Dunearn House and Lentor Gardens Residences - made up about 66% of July's new home sales (ex. EC). In the first seven months of the year, developers transacted 4,885 new private homes (ex. EC), compared with 5,527 units sold in the corresponding period in 2025.

Notably, the 380-unit Dunearn House sold 56% of its stock with unit prices averaging at $3,139 psf during its launch in July. Being the first private new launch in the Bukit Timah Turf City precinct, we think it has likely set a reference price for future private homes to come in the area. In addition, the second Dunearn Road government land sales (GLS) site was awarded for $1,625 psf ppr, about 15% higher than the $1,410 psf ppr paid for the Dunearn House plot.

In particular, affordability remains an important consideration for buyers and developers generally kept price quantum accessible. New non-landed private homes transacted at below $2.5 million - a pricing sweet-spot for many homebuyers - accounted for 58.1% of new non-landed home sales (ex. EC) in July (see Table 1).

Quantum play remains a key pricing strategy in July's new launches. Based on caveats lodged, around 42.5% of the units transacted at Dunearn House in July were priced at under $2.5 million (see Table 1). This could have broadened its appeal to buyers, as smaller format homes bring prime-district price quantum within reach of households, including upgraders. The units transacted for less than $2.5 million at Dunearn House in July span from 527 sq ft to 678 sq ft, according to URA Realis caveat data.

Table 1: Proportion of new non-landed private homes (ex. EC) sold by price range at new projects in July

Source: PropNex Research, URA Realis (figures here may not add up to 100% due to rounding)

Over at Lentor Gardens Residences, a majority of the units (82.2% of 270 units) sold in July were priced at below $2.5 million (see Table 1), with these units sized between 646 sq ft and 1,012 sq ft. That the project cleared 54% of its units during its launch month in a locale that saw six other launches selling a collective 2,933 out of 2,954 units (based on caveats lodged) since September 2022 is reflective of the steady demand for new homes in Lentor Hills.

Local buyer participation also edged higher in July. Singaporeans accounted for about 87.5% of non-landed new private home sales (ex. EC) during the month, up from 84.5% in the previous month. In particular, Singaporean buyers made up 83.4% new non-landed private home sales in the CCR in July. The competitive pricing strategies and relatively attractive entry price adopted by some developers may have encouraged more local buyers to explore opportunities in the prime districts.

Foreign buyer participation in the CCR remained limited. According to caveats lodged, foreigners (non-PRs) accounted for about 3% of new non-landed private home sales in the CCR in July, representing seven transactions. These comprised two units at Dunearn House and one unit each at Aurea, Grange 1866, River Green, Skywaters Residences, and UpperHouse at Orchard Boulevard. Singapore PRs purchased the remaining 13.6% of the new non-landed private homes sold in the CCR in July.

Looking ahead, we expect price quantum to remain central in developers' pricing strategies. However, with rising land prices and high construction costs, developers may increasingly find it challenging to keep a meaningful proportion of units priced within the sweet spot of below $2.5 million. The pressure is already visible as the share of new non-landed private homes (ex. EC) transacted at below $2.5 million has fallen from 71.7% in 2023, to 68.4% in 2024, to 66.4% in 2025, and stood at 61.6% in the year-to-July 2026 period. Developers may have limited room to hold pricing through unit sizing alone, which leaves bedroom mix, accepting thinner margins, and ultimately moderating land bids as the other levers.

Another response could be pricing slightly above the sweet spot, i.e. the $2.5 million to less than $3 million band, which has seen its share of new non-landed private home sales (ex. EC) rise to 17.2% in 7M 2026, compared with 14.5% in 2025, 17.0% in 2024, and 10.5% in 2023, based on caveats lodged.

Meanwhile, buyer sentiment should remain supported by relatively favourable borrowing conditions, a resilient labour market, positive economic outlook, and healthy household balance sheets. The 3-Month Compounded SORA, which is commonly used by banks to price home loan packages, stood at 1.1255% per annum as at 17 August 2026, compared with 1.1797% at the beginning of the year. Mortgage rates are expected to remain stable in the near term. At its latest meeting, the U.S. Federal Open Market Committee maintained the federal funds rate at 3.50% to 3.75%.

In Q2 2026, Singapore's private residential property price growth moderated, with the URA Property Price Index rising by 0.5% quarter-on-quarter (QOQ), easing from the 0.9% QOQ increase in Q1 2026. The measured pace of price growth could encourage some buyers who had been sitting on the sidelines to enter the market, particularly if they perceive that future launches may see some upward price pressure in view of higher land and construction costs.

With the seventh lunar month running from mid-August, we expect new launch activity to be muted and could lead to relatively tepid new home sales this month. Developers' sales could pick up again after mid-September, as new projects - including Amberwood at Holland, Lucerne Grand, and The Serra Residences - hit the market."

Table 2: Top-Selling Private Residential Projects (ex. EC) in July 2026

Source: PropNex Research, URA (17 August 2026)