The decline came despite higher prices in both the new sale and sub-sale segments. Average new sale prices in the CCR rose 7.3% q-o-q to $3,423 psf, while sub-sale prices increased 6.5% q-o-q to $3,059 psf. Resale prices, however, slipped 0.7% q-o-q to $2,289 psf.
According to Christine Sun, chief researcher and strategist at Realion Group, the sharp decline in the overall average was largely due to the “far more resale transactions, at 622 units in 2Q2026”. “Therefore, any potential price falls will more likely be ‘magnified’ due to the high volume of transactions and have a greater impact on overall prices,” she says.
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Sun adds that several older CCR developments changed hands at relatively low prices during the quarter, which has weighed on resale values. “On a granular level, there are a number of resale condos in [the] CCR that were transacted below $1,500 psf in 2Q2026, including older properties such as Lutheran Towers and Orchard Bel Air,” she adds.
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Widening new launch price gap
However, the softening in the overall CCR average masked a widening price premium for prime new launches.
The average price of new Rest of Central Region (RCR) private homes declined 3% q-o-q to $2,657 psf in 2Q2026. Similarly, the price psf in the Outside Central Region (OCR) declined 4.4% q-o-q to $2,335 psf in 2Q2026.
With CCR new sale prices rising by 7.3%, CCR’s premium over new launches in the RCR and OCR increased. The gap between CCR and RCR widened to about 29% in 2Q2026, up from 14% in the prior quarter. The CCR premium over OCR rose to about 47%, up from about 31% in 1Q2026.
At the price-psf level, CCR new homes were $766 psf higher than RCR new homes and $1,088 psf higher than OCR new homes in 2Q2026.
In contrast, the price-psf gaps in the resale market narrowed slightly. The average resale price premium of CCR homes over RCR homes eased to about 15% in 2Q2026 from 17% in 1Q2026, while the premium over OCR homes fell to about 40% in 2Q2026 from about 44% in 1Q2026.
The widening premium for new launches implies that demand for new launches in the CCR remains robust, with buyers willing to pay more for newly launched projects than for resale projects, despite the softening of overall CCR prices.
Commenting on the upcoming CCR new launches, Sun expects sustained healthy demand for the upcoming Dunearn House, which is slated for launch over the July 25 weekend.
“We expect demand for Dunearn House to be healthy, as there has not been a new launch in District 11 for a while. Moreover, this project is situated in the new Turf City precinct, [and] we expect strong interest from investors who want to gain the first-mover advantage,” says Sun.
“If the property is well-located and attractively priced, demand should be healthy regardless of market segments. Moreover, most buyers across the three market segments are locals. As long as unemployment stays low and there is income sustainability or growth, housing demand from locals will continue to stay firm,” she adds.
According to the General Household Survey released by Singapore’s Department of Statistics (DOS) on June 30, the proportion of resident households earning at least $12,000 a month rose from 38.2% in 2020 to 51.6% in 2025. The share of families with monthly incomes of at least $30,000 has also nearly doubled over the past five years to about 13.4% in 2025, up from 7.4% in 2020.
Market income is defined by DOS as income from employment and non-employment sources, such as rental and investment earnings.
Dominic Lee, head of luxury team and investment sales at PropNex, echoes the positive CCR outlook and retains his “bullish” take on the region over the near term.
“Moving forward, I think next year is going to be way stronger, on the basis of the winning [land] bids that have been coming through in CCR,” says Lee in a media briefing held at the launch of Dunearn House.
Luxury home sales reach four-year high
Meanwhile, 1H2026 luxury sales reached their highest half-year volume in four years, “as wealthy investors sought prime assets as safe havens amid global macroeconomic uncertainties”, according to Realion Group (OrangeTee & ETC).
According to URA Realis data compiled by Realion Group, a total of 353 landed and non-landed homes in the CCR changed hands for at least $5 million each in 1H2026, excluding bulk transactions involving more than one unit in a single transaction.
The strong luxury home sales recorded in 1H2026 stood in sharp contrast to the broader private residential market, says the research team led by Sun.
While luxury transactions rose, overall private home sales, excluding ECs and across price segments, fell 11.5% y-o-y to 10,909 units in 1H2026, Realion Group adds.
Growth in luxury home sales is consistent across the primary and secondary markets. Luxury new home sales surged 78% y-o-y to 73 units in 1H2026. Similarly, luxury resale home sales increased modestly by 15.9% y-o-y to 277 units in 1H2026.
Sales of luxury condos were also well distributed across the prime market, with 101 projects in the luxury segment closing at least one deal in 2026. As sales were not concentrated in specific projects, the appetite for luxury homes is therefore “robust, widespread and resilient”, underpinned by demand in this segment, Realion Group adds.
Regarding the most active luxury condominium projects in 1H2026, Realion Group notes that River Modern (44 units), The Draycott (11 units), Goodwood Residence (eight units) and Leedon Residence (eight units) recorded the highest number of transactions on a per-project basis.
Charts: City & Country
Tables: Realion Group, City & Country
Data: Realion Group, URA Realis
