15 July 2026, Singapore - Developers' sales in June were the lowest in more than two years, as a lack of new launches and the quieter market activity typical of the school holiday period weighed on transactions. There were 156 new private homes (excluding Executive Condominiums) sold during the month - the lowest since February 2024 where 153 units were transacted. June's sales represented a 65.1% month-on-month (MOM) decline from the 447 units sold in May 2026, and a 42.6% year-on-year (YOY) drop from the 272 new units shifted in June 2025.

Notably, developers did not put up any new private homes for sale in June 2026, marking the first time where no new units were launched for sale since URA began publishing monthly developers' home sales figures in June 2007. In May, developers placed 357 new units (ex. EC) on the market.

Source: PropNex Research, URA (15 July 2026)

The Rest of Central Region (RCR) led sales in June with developers selling 84 new units. This marks a 74.9% MOM decline from the 334 units transacted in the previous month, and the lowest monthly new home sales in the RCR since December 2024, when 73 units were sold. RCR projects dominated the list of best-sellers in June as buyers continued to pick up units from previously launched projects. Hudson Place Residences was the top-selling project in the RCR and overall during the month, moving 12 units at a median price of $2,577 psf. The project has maintained its position as the most popular project in both the RCR and overall market for the second consecutive month since its launch in May 2026. (see Table 2).

Developers sold 57 new units (ex. EC) in the Outside Central Region (OCR) in June - falling by 37.4% decline from the 91 units sold in May. This is the lowest monthly sales tally for the segment in over two years, since 45 units were transacted in December 2023. Chuan Park was the best-selling OCR project in June, with 11 units sold at a median price of $2,631 psf. Sales activity in the segment is expected to bounce back in July, with the upcoming launch of the 499-unit Lentor Gardens Residences.

In the CCR, developers sold 15 new units in June, down 31.8% from the 22 units transacted in May. This marked the third consecutive month of decline and the lowest monthly new home sales in the CCR since June 2025, when 14 units were sold. Newport Residences recorded the highest sales in the CCR during the month, with four units sold at a median price of $3,056 psf. The second best-selling project was UpperHouse at Orchard Boulevard, which moved three units at a median price of $3,437 psf. In particular, the 180-unit Watten House - which hit the market in November 2023 - is now fully sold after transacting its final unit in June.

In the EC segment, developers sold 28 new units in June, down by 39.1% from the 46 units transacted in May. Coastal Cabana EC was the top-selling EC project, moving 21 units at a median price of $1,836 psf. Supported by healthy demand and the gradual absorption of EC inventory, the supply of unsold new EC units on the market remained tight, with just 150 units available as at end-June, according to URA data. The limited unsold stock of ECs bodes well for upcoming EC launches in Senja Close, Woodlands Drive 17, Sembawang Road and Miltonia Close, which are not subjected to the new EC measures announced in May 2026.

Ms Wong Siew Ying, Head of Research and Content at PropNex, said.

"The muted new private home sales in June were widely expected given an empty launch calendar during the month amid the June school holidays. In a market where monthly sales are overwhelmingly supply-led, it is inevitable that transaction volume fell in a month without launches. We believe the underlying demand for new private homes is stable and that developers' sales should rebound in July with the upcoming launch of Lentor Gardens Residences in the OCR and Dunearn House in the CCR.

The 499-unit Lentor Gardens Residences attracted about 5,000 visitors to its sales gallery when it opened for preview earlier this month. It is the seventh new launch in the Lentor Hills estate, where the earlier six projects have collectively sold 2,929 of 2,954 units - representing a take-up rate of 99.2% - pointing to sustained buyer confidence in the location. Meanwhile, the 380-unit Dunearn House, the first private condominium launch in the new Bukit Timah Turf City drew 5,900 visitors over its preview weekend recently. Both projects are within walking distance of an MRT station, an attribute that continues to underpin demand among owner-occupiers and investors alike. The strong turnout at both previews suggests keen buying interest, and the two projects will likely help to lift developers' sales in July following June's subdued showing.

Additionally, buyer sentiment could remain supported in view of the still-low interest rates, tight job market, and healthy household balance sheets. The 3-Month Compounded SORA - used by banks to price home loan packages - has ticked up marginally of late and stood at 1.1271% per annum as at 15 July 2026, compared with 1.1797% p.a. at the beginning of 2026. Slower growth in overall private home prices may also prompt some buyers who were on the fence to consider entering the market. Flash estimates for Q2 2026 showed that the URA property price index rose by 0.5% quarter-on-quarter (QOQ), slowing from the 0.9% QOQ growth in Q1 2026.

Table 1: Proportion of new non-landed private home sales (ex. EC) by price range in June 2026

Source: PropNex Research, URA Realis (data up till 30 June 2026), may not add to 100% due to rounding

In terms of transacted prices, non-landed private home sales below $2.5 million - a price point seen as households' budget sweet-spot - made up 38.0% of new home sales (ex. EC) in June, with the remaining 62.0% transacted at $2.5 million and above (see Table 1). The largest single band was $2.5 million to under $3 million, at 28% of transactions. The price distribution, however, is likely shaped by what was available for sale. With no major new launches during the month, buyers were largely working through existing inventory, which may have limited the supply of units at the more accessible price points. We expect the share of transactions priced below $2.5 million to rise in July, as new projects bring a wider mix of units to the market.

Demand for new private homes is expected to remain primarily driven by local buyers. Based on caveats lodged, foreigners (non-PRs) accounted for 1.3% of non-landed new private home sales (ex. ECs) in June 2026. In absolute terms, two units - one each at UpperHouse at Orchard Boulevard and Terra Hill - were purchased by foreigners (non-PRs) during the month. Singapore citizens and Singapore Permanent Residents accounted for 85.3% and 13.3% of sales, respectively.

Taking in June's sales, developers sold an estimated 4,164 new units (ex. ECs) in 1H 2026, lower than the 4,587 units sold in the corresponding period last year. For the full-year 2026, PropNex projects that around 9,000 new private homes (ex. EC) may be transacted."

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

Source: PropNex Research, URA (15 July 2026)