Singapore Private Property Market: Q1 2026 Performance Review

The first quarter of 2026 told a story most headlines missed: volume returned, but selectively. CCR launches absorbed the cooling-measure overhang. RCR took the spotlight. OCR continued its quiet, steady climb. Here's what actually happened — and what it means for buyers entering Q2.

1. Headline numbers

Total private new sales rose roughly 18% quarter-on-quarter, with the bulk of activity concentrated in three RCR launches. Resale volumes were flatter, reflecting price stickiness rather than weak demand.

• CCR: Median PSF held at $2,830 — flat year-on-year, but transaction count up modestly
• RCR: Median PSF rose to $2,460, with two launches achieving 60%+ sell-through on launch weekend
• OCR: Median PSF $2,140 — the most consistent segment, supported by HDB upgraders

Volume tells you what happened. Mix tells you why. Q1's mix points to upgraders driving RCR, not foreign capital — a healthier signal for sustained pricing.

2. Where the buyers came from

Three buyer profiles dominated Q1 activity:

1. HDB upgraders moving up to RCR. The bulk of demand. Triggered by maturing 5-year MOPs and lower mortgage rates relative to 2024.
2. Right-sizers moving from larger CCR units. A quieter but consistent flow, often into well-located 2-bedders with concierge.
3. Investors returning to leasehold OCR. Yield compression in CCR and RCR pushed yield-focused buyers further out.

3. What this means for Q2 buyers

If you're house-hunting in the next three months, three takeaways matter:

• RCR pricing power is real but uneven. Two of the three Q1 launches still have premium stacks unsold — there are deals to be had on lower-floor or less-popular orientations.
• OCR resale is your friend. Newly-MOP'd flats and 5-to-10-year-old condos in OCR offer meaningfully better PSF for the same lifestyle.
• Don't chase headline rates. Banks have started reintroducing competitive 2-year fixed packages. Compare effective rates over a full lock-in, not just the introductory year.

4. The Q2 watchlist

we're watching three signals: (a) the next round of GLS tender results in May, (b) any cooling-measure recalibration if RCR PSF breaks $2,500, and (c) HDB resale volumes — a leading indicator for OCR new-sale demand 6 months out.

Final word

Q1 was not a runaway market. It was a selective one — and selective markets reward buyers who know precisely what they want and what it should cost. If you'd like a personalised view on a specific launch or district, get in touch — happy to talk it through.