Sales of new private homes surged to a six-month high in April as two mass-market new launches “supercharged” sales, says PropNex. Developers sold 1,548 new homes (excluding executive condominiums, or ECs) during the month, 19% up m-o-m.
Including the transactions done in 1Q2026, developers sold a combined 3,561 new units (excluding ECs) in 4M2026, or about a third of the 10,815 units sold in 2025.
The 863-unit Tengah Garden Residences, the first private residential project in Tengah town, sold 99% of its units at an average of $2,120 psf over its April 25–26 launch weekend.
Sharing the same launch weekend, the 515-unit Vela Bay, the first private residential project in the Bayshore precinct, sold 72% of its total units at an average of $2,886 psf.
In all, developers launched 1,426 units for sale in April, 36.7% higher m-o-m. In April, the median price of non-landed new sales was $2,210 psf, 24.8% higher than the median price of $1,771 psf for resale units.
Based on the Urban Redevelopment Authority Realis caveat data, about 87% of units sold at Tengah Garden Residences in April were priced below $2.5 million, while the proportion of such sales at Vela Bay was around 66%.
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According to Wong Siew Ying, head of research and content at PropNex, the transacted prices at Tengah Garden Residences in April ranged from $980,000 for a 484 sq ft unit on the second storey to $2.92 million for a 1,249 sq ft unit on the 15th floor.
At Vela Bay, the most expensive unit sold in the month was a 1,765 sq ft unit on the 31st storey for about $5.83 million, while the lowest transacted price was for a 484 sq ft unit on the 5th floor for about $1.25 million.
In comparison, the EC segment delivered a quieter performance with only 101 units sold, amid shrinking unsold stock and the absence of new EC projects, says Marcus Chu, CEO of ERA Singapore. This is 84.1% lower m-o-m from 637 deals recorded in March.
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The 572-unit Rivelle Tampines was launched on March 21. After unsold units were released to eligible second-timers one month after the initial public launch, 76 more units were sold at a median price of $1,918 psf in April, bringing total take-up to nearly 100%.
Following a rule change by the Ministry of National Development (MND) on May 8, developers must reserve 90% of EC units for first-timer families, up from 70% previously. This priority period for first-timer families has also been extended from the first month of the project’s launch to two years. The new measures only apply to EC government land sales (GLS) sites with tender closing dates on or after May 8.
Fresh supply in the EC market remains tight, says Chu, with new units available only at Coastal Cabana, which was launched in January.
Three EC projects at Woodlands Drive 17, Senja Close and Sembawang Road are set to launch by year-end. As these sites remain under previous regulations, the availability of the Deferred Payment Scheme (DPS) and the standard one-month priority window should anchor strong interest among second-timers, says Chu.
The year had been off to a rocky start, given escalations in the Middle East conflict since Feb 28. However, homebuying appetite has remained surprisingly resilient despite heightened volatility and economic uncertainty, says Tricia Song, CBRE research head, Singapore and Southeast Asia, amid low mortgage rates and a decent pipeline of attractive new launches.
Based on this momentum, new home sales are on track to fall between 8,000 and 10,000 units in 2026, says Leonard Tay, research head at Knight Frank Singapore. ERA projects new home sales to reach between 9,000 and 10,000 units. CBRE Research, meanwhile, projects that 7,500 to 8,500 new homes will be sold in 2026. For context, 10,815 new homes were sold in 2025.
Looking ahead, the ongoing Middle East conflict may trigger an energy price surge, stimulating inflation and placing upward pressure on interest rates. Some investors may move decisively to secure units and lock in favourable financing now amid expectations of a potential interest rate increase, says Christine Sun, chief researcher and strategist at Realion Group (OrangeTee & ETC).
Current mortgage rates are still considered low compared to the peak rates two years ago, which were over 3%, adds Sun. “The relatively still-low mortgage rates will continue to keep housing affordable for first-time buyers and HDB upgraders.”
Upcoming launches in 2H2026 include Dunearn House, Lucerne Grand and Lentor Gardens Residences.
