Singapore Home Sales Surge in January
Singapore's private home sales surged in January, prompting the government to upgrade its 2026 economic growth forecast to 2-4%. Despite rising sales, one analysis suggests that home prices remain aligned with household income growth, which has helped sustain demand.
- In January, developers sold 466 new private homes, more than double the 197 units sold in December 2025 and also higher than the 325 units sold in November 2025. However, this figure represents a 57% decrease from the 1,083 units sold in January 2025. - The government's upgraded 2026 GDP growth forecast from a range of 1-3% to 2-4% was influenced by stronger-than-expected global economic momentum and a boom in AI-related investments. The economy grew by 5% in 2025. - Three new project launches drove the January sales rebound: Coastal Cabana, Newport Residences, and Narra Residences, which collectively introduced 1,534 new units to the market. - The executive condominium (EC) project, Coastal Cabana, was the top-selling project in January, moving 504 units at a median price of S$1,790 per square foot. Newport Residences, a private condominium, sold 140 of its 246 units. - Singaporean buyers were the primary purchasers of new non-landed private homes in January, accounting for 87% of the transactions (402 units). - Sales in the Core Central Region (CCR) were largely driven by Newport Residences, which accounted for a significant portion of the 162 new units sold in that area. The Outside Central Region (OCR) led overall sales with 183 units sold.
