(April 1): Singapore private home prices are set to rise at a slower pace in the first quarter of the year, despite continued demand for new homes in the city-state.
An index for private residential property rose 0.3% in the first three months of 2026, according to a preliminary estimate released on Wednesday by the country’s Urban Redevelopment Authority. Prices grew 0.6% in the fourth quarter of last year.
A surge in demand, driven by locals looking to invest and upgrade to private homes as well as a growing group of wealthy immigrants, has buoyed the country’s private property market — despite it already being one of the world’s priciest.
This comes in spite of growing concern about the economic fallout of the conflict in the Middle East on the trade and import-dependent financial hub. A recent project launch in Tampines, a suburban district in the country’s east, sold over 90% or more than 540 units. Overall, property sales in the last weeks of March are not accounted for in the initial estimate.
Authorities have introduced a spate of measures in recent years to dampen a years-long rally in property prices, including a large 60% tax on purchases by foreigners. The bulk of locals live in subsidised government-built housing, where pricing is typically influenced by surges in the private market.
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Prices for second-hand public housing likely fell by 0.1% in the first quarter, which would mark the first decline in nearly seven years, according to separate estimates released on Wednesday.
Final data for the quarter will be released on April 24.
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