Singapore's private home prices accelerated in the third quarter of 2026, but the prime districts sat out the rally. According to the Urban Redevelopment Authority's (URA) flash estimate released on 1 October 2026, the overall private residential price index rose 1.4% in Q3, up from 0.5% in Q2. Non-landed homes in the Core Central Region (CCR) – the band that covers Districts 9, 10 and 11 – slipped 0.1%, reversing the 1.8% gain we covered in our Q2 2026 prime price review.
Here is what the flash numbers show, why the CCR paused, and what analysts are watching as a busy fourth quarter of launches approaches.
Q3 2026 flash estimate at a glance
URA said the first three quarters of 2026 have averaged a 0.9% quarterly gain, unchanged from the same period of 2025. Under the headline, the segments moved in different directions:
| URA price index (quarter-on-quarter) | Q2 2026 | Q3 2026 (flash) |
|---|---|---|
| Overall private residential | +0.5% | +1.4% |
| Landed homes | +2.5% | +2.8% |
| Non-landed (all regions) | −0.1% | +0.9% |
| Non-landed – Core Central Region (CCR) | +1.8% | −0.1% |
| Non-landed – Rest of Central Region (RCR) | −1.2% | +0.2% |
| Non-landed – Outside Central Region (OCR) | −0.1% | +2.2% |
URA noted that sale transaction volume fell by about 30% quarter-on-quarter. Its full Q3 statistics are due on 23 October 2026, and it cautioned that flash estimates can differ from actual changes.
Why the CCR dipped
CBRE's commentary on the flash estimate described the CCR's mild decline as following "a high base in Q2", when firm pricing at River Modern – above $3,200 psf – could have lifted the index. The main CCR launch in Q3 was Dunearn House, the first project in the upcoming Bukit Timah Turf City masterplan. CBRE said it sold 237 of its 380 units in the quarter at a median price of $3,107 psf.
Put simply, a 0.1% dip after a 1.8% jump is more consistent with a pause than a turn. On a rolling nine-month basis, CBRE noted the CCR is still up 2.3% year to date, ahead of the RCR (down 0.2%) but behind the OCR (up 4.3%).
Where the growth came from
According to EdgeProp, Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group, said prices grew faster "due to a bigger proportion of private homes sold at a higher price". Realion data showed the share of new-sale transactions of at least $2 million rose from 52.3% in Q2 to 71.7% in Q3.
CBRE pointed to Lentor Gardens Residences in the OCR, which sold 291 units at a median of $2,357 psf, as a likely driver of the OCR's 2.2% gain. Landed homes, up 2.8%, again led the market.
The quietest third quarter in decades
The price gains came on very thin volumes. Huttons Asia's Mark Yip said an estimated 1,100 new homes were sold in Q3, making it "the lowest number of units sold in the third quarter of the year since 1998", as reported by EdgeProp. Huttons attributed the lull partly to the Lunar Seventh Month, which constrained launches, and to uncertainty around the US-Iran truce. CBRE, using Realis caveat data, counted 1,082 new private homes sold, down 49.5% from 2,141 in Q2.
Huttons also said some buyers paused as they digested recent policy changes, including the removal of the 15-month wait-out period and changes to the Primary 1 Phase 2C allocation from 2027 – a topic we unpacked in our P1 two-track scheme explainer. The same Huttons analysis estimated that CCR demand actually rose 1.2% in the first nine months of 2026, while OCR demand fell 39.2% and RCR demand fell 26.3%.
What to watch in the fourth quarter
- A heavier launch calendar. EdgeProp's list of expected Q4 launches includes Lucerne Grand (570 units, District 22), Thomson Reserve (1,268 units, District 20) and the 133-unit freehold The Serra Residences in District 11. We covered the launch-versus-sales picture in our look at new home sales outpacing launches.
- Interest rates. EdgeProp reported that the US Federal Reserve raised its target range by 25 basis points to 3.75%–4% in September, its first increase since July 2023. Sun said some buyers may be cautious if rates keep rising.
- Jobs. Knight Frank's Leonard Tay said "an eye needs to be kept on the labour market", noting retrenchments rose from 3,830 in Q1 to 4,620 in Q2.
- Resale versus new. CBRE said take-up of upcoming launches will depend largely on pricing, as buyers are more selective and "could gravitate towards secondary sales" as the gap between new launches and resales has widened.
On the full-year outlook, SRI's Mohan Sandrasegeran expects private home prices to rise about 3% to 3.5% in 2026, while CBRE said prices could close the year at the higher end of its 2–4% forecast and kept its 7,500–8,500 new home sales forecast.
What it means for D9, D10 and D11 buyers
One flash estimate is not a trend, and the final Q3 numbers may differ. But a few practical points follow. First, quarter-to-quarter moves in the CCR can swing on which launches happen to transact, so look at the project you are considering rather than the index. Second, with launch volumes light and resale pricing in focus, comparing new-launch psf against nearby resale transactions is worthwhile. Third, freehold prime-district supply remains small – 32 Gilstead in District 11 is fully sold, and The Serra is one of the few freehold launches left in the pipeline.
If you are exploring prime-district homes, current launches include Dunearn House, Chancery Hill Collection and The Serra Residences in District 11, Amberwood at Holland, UpperHouse at Orchard and 21 Anderson in District 10, and River Modern in District 9. WhatsApp us for price lists, floor plans and showflat appointments, and see more in our news archive.
This article is for general information only and is not financial or investment advice. Figures are from the sources below as at their publication dates; the Q3 2026 index is a flash estimate and may be revised.
Sources
- URA, Release of flash estimate for 3rd Quarter 2026 private residential property price index, 1 October 2026
- EdgeProp, Private home prices rise 1.4% despite weakest 3Q new-home sales since 1998: URA flash estimates, 1 October 2026
- CBRE, Commentary on the flash estimate of Q3 2026 private residential property price index, 2 October 2026
