Singapore Property Market Q2 2026: What Every Agent Needs to Know

Q1 2026 delivered one of the strongest new launch windows in recent memory. River Modern moved over 90% of units on day one. Rivelle Tampines set a new EC price record. And SORA is sitting near its lowest point since mid-2022.

For agents, this reads as a volume forecast. Q2 2026 is shaping up to be one of the busiest quarters in years, with 8,400+ incoming units, a massive HDB MOP wave, and mortgage rates that make upgrading the easiest conversation you have had in three years.

Here is what the data says, what it means for your pipeline, and what to watch.

Q1 2026 Recap: Five Launches, Strong Absorption

The first quarter of 2026 saw five major launches, most posting strong absorption. River Modern led with 90%+ take-up on launch day, while Rivelle Tampines achieved the best EC launch result since 2017, according to EdgeProp. Developer new home sales in 2025 came in at 10,821 units, up 67.3% from 2024's 6,469, and that momentum has carried into 2026.

What stands out:

River Modern was the best-performing private non-landed launch of 2026 so far, with 95% of three-bedroom units taken up on launch day, according to EdgeProp. Newport Residences outperformed comparable CBD launches: One Bernam debuted at 23% and Sky Everton at around 40%, making Newport's 57% a strong result for the Core Central Region.

On the EC side, Rivelle Tampines posted the best EC launch performance since Hundred Palms Residences in 2017, according to EdgeProp. All 241 three-bedroom units were fully taken up. At $1,893 psf average, it set a new EC price record, and is likely the last EC in the East until 2027.

Coastal Cabana, the first EC in Pasir Ris in over 12 years, moved 66% of units on launch weekend, with over 90% of sea-facing units snapped up.

Narra Residences at Dairy Farm Walk had a softer showing at ~25% take-up, reflecting the more niche OCR location. Still, at $2,180 psf, pricing held firm for the area.

Agent takeaway: Buyer appetite is real, even at record prices. The real question is whether you have enough qualified leads and inventory knowledge to keep up.

Q2 2026 Pipeline: 8,400+ Units Across 23 Projects

The 2026 launch pipeline is substantial. PropNex estimates approximately 8,487 units across around 20 private projects, while ERA tracks 18 private and 5 EC projects. EC supply adds roughly 2,300 units across five projects. Approximately 64–65% of units are in the Outside Central Region (OCR), according to ERA and OrangeTee research.

The supply shift is significant: RCR supply drops roughly 57% from 2025, while CCR supply falls approximately 47%. The action is firmly in the suburbs this year.

Key Q2 Launches to Watch

Pinery Residences opened bookings on 28 March 2026, so early take-up data should be available soon. For a full breakdown of every 2026 project with pricing comparisons and buyer profiles, see the 2026 New Condo Launches Cheat Sheet.

Major H2 2026 Launches on the Radar

The second half of 2026 has several large projects in the pipeline that agents should start studying now:

Former Thomson View could be the single largest private launch of 2026. Agents working the North and Northeast corridors should have these on their radar well before preview dates are announced.

Upcoming EC launches (H2 2026):

• Woodlands Drive 17 EC: the first EC in Woodlands since Northwave in 2016, on a site that attracted a record EC land bid of $794 psf ppr
• Senja Close EC: the first EC in Bukit Panjang in nearly 15 years
• Tengah Plantation Close EC: approximately 430 to 560 units, expected Q4 2026

GLS Tenders Closing in Q2

The 1H 2026 Confirmed List under the Government Land Sales programme offers 9 sites yielding 4,575 private homes (including 635 EC units) plus 22,500 sqm of commercial space, according to MND.

Sites to track:

• Bayshore Drive: 1,280 units, the largest 1H 2026 site
• Peck Hay Road (Newton): prime CCR site
• Berlayar Drive (former Keppel Club area): 415 units
• New Upper Changi Road: 1,040 units

Land bid outcomes will directly influence new launch pricing for the next 12–18 months.

Interest Rate Environment: Near the Floor

The 3-month compounded SORA (Singapore Overnight Rate Average) is a benchmark interest rate used to price most floating-rate home loans in Singapore. It has dropped from over 3% in early 2025 to approximately 1.09% as of mid-March 2026, according to MAS data, the lowest level since mid-2022. For a deeper analysis of what this means for your client conversations, see our SORA impact guide for agents.

What the Banks Are Forecasting

The consensus: Q2 2026 is likely the trough. The second half of 2026 will see a modest uptick as US Fed cuts slow. Maybank's notably dovish forecast of 0.7% by year-end is the outlier. The range of views reflects genuine uncertainty about how quickly central banks will move.

Current Mortgage Rates

• Lowest floating packages: approximately 1.0% (3M SORA + near-zero spread, promotional)
• Typical floating: 1.8–2.2%
• Fixed rates: 1.30–1.80% for 2–3 year lock-ins
• HDB concessionary rate: 2.6%. Notably, most bank packages now undercut this

MAS held monetary policy steady for the third consecutive review in January 2026, while raising inflation forecasts to 1.0–2.0% for the year. The next MAS Monetary Policy Statement is expected in April 2026.

Agent takeaway: This is the cheapest borrowing environment since mid-2022. For clients sitting on the fence, the message is straightforward: rates are near the floor, and analysts expect them to rise from here. That is the UOB and DBS house view, not a sales pitch.

Price Trends: The Goldilocks Phase

Private home prices rose 3.4% in full-year 2025, according to URA data, down from 3.9% in 2024 and 6.8% in 2023. Growth is decelerating but still positive. Not too hot, not too cold.

Analyst Price Forecasts for 2026

The consensus sits at 3–4% growth, a continuation of the moderation trend. This is fundamentals-driven growth, not speculation-driven.

One segment to watch: the Core Central Region posted a notable 3.5% quarterly price decline in Q4 2025, reflecting the continued impact of high ABSD on foreign demand. Agents working the prime segment should be aware of this divergence from the broader market.

Resale Market: The Bigger Volume Play

While new launches dominate headlines, resale transactions account for the larger share of total volume. Analysts project 13,000 to 15,000 resale transactions in 2026. For agents focused on the secondary market, the combination of MOP upgraders selling their HDB flats and buyers seeking completed units with no waiting period creates a busy year ahead.

En Bloc Activity Picking Up

Several major collective sale attempts are underway in Q1 2026, including Serenity Park ($505 million asking price, tender closing March 2026), Tan Boon Liat Building (relaunched at $1 billion), and Kewalram House ($120 million). The Ministry of Law is also reviewing the collective sale consent threshold framework. Successful en bloc sales would add to the pool of displaced buyers entering the market, particularly in the RCR and CCR segments.

Why Prices Have a Floor

The unsold private home pipeline stood at 14,859 units at end-Q4 2025, according to URA, down 12.7% from the prior quarter and the lowest in 15 quarters. Completions in 2026 are expected at around 7,000 units, below historical averages.

Together, tight supply and low rates put a floor under prices.

Demand Drivers: Four Forces Converging

Four forces are converging to drive demand in Q2 2026: the largest HDB MOP wave in years (13,480 flats), near-floor interest rates, pent-up EC demand in underserved towns, and a Budget 2026 that introduced no new cooling measures.

1. The MOP Wave

The Minimum Occupation Period (MOP) is a 5-year holding requirement for HDB flat owners before they can sell on the open market or purchase a private property. Approximately 13,480 HDB flats will reach their MOP in 2026, according to PropNex data, nearly double the roughly 6,970 in 2025.

Top MOP locations:

• Punggol: 25.9%
• Queenstown: 15.5%
• Tampines: 15.1%
• Bukit Batok: 10.7%
• Toa Payoh: 10.3%

The largest single project is Tampines GreenVerge with 2,022 units. The split is roughly 54% mature estates and 46% non-mature estates.

The MOP wave is the biggest upgrader demand source for 2026. Every one of those 13,480 households is a potential lead.

2. Low Interest Rates

With 3M SORA near 1.09% and fixed rates from 1.30%, the monthly mortgage payment on a $1.5 million property is approximately $800–1,000 cheaper per month than it was in early 2024 when SORA was above 3.5%. That makes upgrading or right-sizing significantly more affordable.

3. Pent-Up EC Demand

The Woodlands and Senja Close ECs will be the first in their respective towns in over a decade. Buyers earning above the BTO income ceiling but below the EC ceiling of $16,000, and priced out of comfortable private purchases, have been waiting for these options.

Rivelle Tampines's 92.5% launch performance confirms the demand thesis.

4. No New Cooling Measures in Budget 2026

Budget 2026, announced on 12 February, introduced no new property cooling measures. For a market that had been bracing for possible tightening, this was a green light. The government also confirmed that the EC policy framework is under review, with Minister Chee Hong Tat noting on 4 March that adjustments could come if conditions warrant. Any expansion of EC eligibility or relaxation of the 15-month wait-out period for private property downgraders buying HDB resale flats would add further fuel to both the EC and resale segments.

Risk Factors: Eyes Open

The market outlook is positive but not without headwinds. Global trade tensions, a 60% ABSD wall on foreign buyers, and localised supply concerns in Lentor are the three risks agents should monitor.

Global Uncertainty

A 10% US tariff on Singapore goods is now in effect under Section 122, valid for 150 days, after the original IEEPA tariff was struck down by the US Supreme Court in February 2026. A potential increase to 15% has been signalled, and a separate Section 301 investigation targeting Singapore was announced on 11 March 2026. PM Wong has warned the era of rules-based free trade may be shifting, according to reporting by ERA Research. Broader US-China trade tensions create indirect drag on business sentiment. For more on how Singapore property has performed through geopolitical disruptions, see our safe-haven analysis.

The Iran conflict has pushed energy prices higher, and analysts are reassessing Singapore's inflation outlook for 2026. If crude oil remains elevated around US$100/barrel in Q2, headline and core inflation will face upward pressure. This makes the April 2026 MAS review a critical event: if MAS shifts toward a tightening bias, the "rates near the floor" thesis could weaken sooner than expected.

Singapore's official GDP forecast for 2026 is 2–4% (upgraded by MTI in February 2026), down from 5.0% in 2025.

ABSD Still Deterring Foreign Buyers

The Additional Buyer's Stamp Duty (ABSD) is a tax on property purchases in Singapore, with rates that depend on the buyer's residency status and number of properties owned. For foreigners, the rate stands at 60%, unchanged since April 2023.

The impact is stark: foreign buyers accounted for roughly 1.4% of non-landed private home transactions in 2025, according to ERA data. Average PSF in the Core Central Region fell sharply after the April 2023 ABSD hike and has yet to fully recover.

For agents focused on the domestic market, this matters less. For those with international client networks, the landscape remains constrained.

Lentor: Oversupply Narrative vs. Reality

Lentor is the market's favourite oversupply debate. Across eight GLS sites awarded to date, the full build-out of the Lentor Hills precinct could exceed 4,000 units. But the absorption data tells a different story: according to ERA, 4 of 6 launched projects are fully sold or effectively sold out (Lentor Modern, Lentor Central Residences, Lentor Hills Residences, Lentor Mansion). Hillock Green and Lentoria are the only two projects with meaningful remaining unsold inventory.

Overall take-up across all six launched projects stands at 96.4% (2,849 of 2,954 units sold), as of mid-2025 data. The latest Lentor Central GLS tender attracted a record land bid of approximately $1,278 psf ppr, the highest ever for the area, signalling continued developer confidence.

The risk is real but localised. Agents working the Lentor corridor need to know the absorption data, not just the headline supply numbers.

What This Means for Your Business

Low rates, a massive MOP wave, strong launch momentum, and tight unsold supply all point the same way: lead volume is going up.

Projected new home sales for 2026: 8,000–10,000 units (across analyst forecasts from PropNex, ERA, CBRE, and Huttons Asia). Resale transactions are expected at 13,000–15,000 units.

That is a significant volume of transactions, and it is concentrated in the OCR, which means mass-market agents are the ones who need to be most prepared.

Three Things to Get Right This Quarter

1. Know the pipeline cold. With 25 projects launching this year, your clients will expect you to compare projects instantly. Vela Bay vs. existing Bayshore options. Lentor Gardens vs. Lentor Mansion resale. If you cannot run these comparisons on the spot, someone else will.
2. Work the MOP list. 13,480 households reaching MOP is a lead list. Cross-reference MOP dates with your existing contacts. Agents who proactively reach out with upgrading options, not generic market updates, will capture the early movers.
3. Systematise your follow-up. More leads means more conversations to manage. If you are still tracking prospects in spreadsheets or chat histories, you will lose deals to agents with proper systems. At this volume, a CRM that lets you tag leads by property interest, set follow-up reminders, and send personalised updates is basic infrastructure.

Key Dates to Watch in Q2 2026

These are the most important dates for agents tracking the Q2 2026 pipeline, from preview launches to GLS tender closings and the next MAS policy review.

GLS tender outcomes will set the pricing benchmark for the next wave of launches. The April MAS review could shift mortgage rate expectations if the inflation outlook changes.

Frequently Asked Questions

Key Takeaways

• Q1 2026 posted strong results across five launches, confirming buyer appetite at record prices. Developer sales momentum from 2025 (10,821 units, +67%) has carried forward
• Q2 pipeline is substantial: 8,400+ units across 25 projects, concentrated in OCR. H2 adds Former Thomson View (~1,240 units), Chuan Grove (~1,055 units), and three more ECs
• SORA near 1.09% is likely the trough, but the Iran conflict and rising energy prices could shift the outlook at the April MAS review
• 13,480 HDB flats reaching MOP creates the largest upgrader demand wave since the BTO surge years
• Budget 2026 introduced no new cooling measures, and the EC policy framework is under review
• 3–4% price growth expected, moderate, fundamentals-driven, with a floor set by tight supply. CCR is the exception, posting a 3.5% quarterly decline in Q4 2025
• En bloc activity is picking up, with several major collective sales underway that could add displaced buyers to the market
• Risks are real but manageable: evolving US tariffs (10% with threatened 15% increase), ABSD deterring foreigners, energy price volatility, and localised supply concerns in Lentor
• Agents who prepare systems now (pipeline knowledge, MOP lead lists, CRM follow-up) will capture the volume

Sources

• URA 4Q2025 Flash Estimate — Private Home Prices
• URA 4Q2025 Real Estate Statistics
• MAS Monetary Policy Statement — January 2026
• IRAS — Additional Buyer's Stamp Duty (ABSD)
• MND — 1H 2026 GLS Programme
• ERA Singapore — 2026 New Condo Launches
• ERA Singapore — Lentor Oversupply Analysis
• ERA Singapore — Geopolitical Tensions and Property
• EdgeProp — River Modern Sells Over 90% on Launch Day
• EdgeProp — Rivelle Tampines 92.5% Sold
• EdgeProp — 4Q2025 Prices Rise 0.7%
• EdgeProp — Suburban Projects Lead 2026
• CDL Newsroom — Newport Residences Launch
• PropNex — HDB Flats Attaining MOP in 2026
• PropNex — 1H 2026 Private Housing Supply
• CBRE — 2026 Singapore Real Estate Market Outlook
• Stacked Homes — 2025 Year-End Review
• PropertyGuru — Singapore Mortgage Rate 2026
• Yahoo News SG — 13,480 HDB Flats Reaching MOP in 2026
• Trading Economics — Singapore Overnight Rate Average
• Homejourney — SORA Rate Outlook 2026
• EdgeProp — Narra Residences Sells Nearly 25% at $2,180 PSF
• MTI — 2026 GDP Growth Forecast Upgrade
• MTI — Section 122 Tariffs Statement