We’re halfway through 2026, and Singapore’s property market is telling two very different stories.
Private home prices? Still rising — up 0.9% in Q1. HDB resale prices? They just did something they haven’t done in seven years: dip.
Here’s what’s happening and what it means if you’re buying, selling, or just watching.
Story 1: Private Homes Are Still Climbing
Private residential prices rose for the sixth straight quarter in Q1 2026. The overall index went up 0.9%, led by the Outside Central Region (OCR), which grew 2.2%.
That’s the suburbs leading the charge — places like Tengah, Bayshore, and Lentor. The traditional discount for suburban condos is shrinking as more buyers look further out for better value.
But here’s the catch: transaction volumes dropped nearly 40% compared to the previous quarter. Fewer launches, fewer deals. Prices are being held up by strong demand at specific projects, not a broad-based frenzy.
Story 2: HDB Resale Finally Paused
The HDB Resale Price Index slipped to 203.4 in Q1 2026 — a 0.1% drop from Q4 2025.
That might not sound like much. But it’s the first quarterly decline since Q2 2019. After years of non-stop growth, the market has finally taken a breather.
The reason? Supply. Lots of it. HDB is launching about 19,600 BTO flats in 2026, while nearly 13,500 resale flats hit their Minimum Occupation Period this year — almost double last year’s figure.
Story 3: Money Has Never Been Cheaper
The 3-month SORA — Singapore’s key mortgage benchmark — has hovered near 1.0% in early 2026. That’s about as low as it’s been in years.
For buyers, this means lower monthly payments and more borrowing power. For upgraders, it makes the jump from HDB to condo more affordable than it was two years ago.
Analysts expect rates to stay low through the rest of 2026, but no one’s guaranteeing it forever.
The Bottom Line
If you’re an HDB buyer, 2026 is looking like the most favourable market in years. More supply, cooling prices, and cheap loans.
Sources
URA Q1 2026 Real Estate Statistics: https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr26-31
HDB Resale Price Index Q1 2026: https://www.hdb.gov.sg
Singapore Property Market Mid-Year Outlook — PropertyNet: https://propertynet.sg/singapore-property-market-mid-year-outlook-2026-trends