Developers sold 296 new private homes (excluding executive condominiums) in September, nearly double the 153 units sold in August, and 16.1% more than the 255 units transacted in September 2025. The 93.5% month-on-month increase in transactions in September came off a low base. The Lunar Seventh Month, which ran until 10 September, had weighed on sales for much of August, with developers holding back on new launches during the period.

September's sales bring the Q3 2026 developers' sales tally to 1,180 units (ex. EC) - the lowest quarterly figure since Q3 2024, where 1,160 units were sold. New home sales are expected to pick up further in October, with three new launches lined up, namely Lucerne Grand, The Serra Residences and Thomson Reserve.

Developers launched 158 new units at three projects in September: 70 units at Amberwood at Holland, a new 212-unit project in District 10; 65 units at Luxus Hills, a landed housing development first launched in 2009; and 23 units at a previously-launched strata-landed project, Belgravia Ace.

The Rest of Central Region (RCR) led new home sales in September, with developers selling 131 units, up from 72 units in August. The best-selling RCR projects were Terra Hill, which sold 32 units at a median price of $2,209 psf, and The Sen, which transacted 25 units at a median price of $2,386 psf (see Table 2). Notably, Terra Hill recorded its highest monthly sales since its launch in February 2023, when 89 units were sold, amid price adjustments on its remaining units. Based on caveats lodged, the 270-unit development is 92% sold as at the end of September. RCR sales are expected to get a boost in October with the upcoming launch of the 1,268-unit Thomson Reserve in District 20.

In the Outside Central Region (OCR), developers sold 125 new units in September, up 119% from the 57 units transacted in August. Lentor Gardens Residences was the best-selling OCR project during the month, moving 22 units at a median price of $2,348 psf. Looking ahead, OCR sales will pick up in October given that Lucerne Grand had sold 350 out of its 570 units over its 3-4 October launch weekend.

Meanwhile, sales in the Core Central Region (CCR) rose to 40 units in September, from 24 units in August. Amberwood at Holland led with 24 units sold at a median price of $3,021 psf. The 212-unit project, which offers only three- to five-bedroom homes, is the first private condominium in the new Holland Plain precinct in prime District 10.

In the EC segment, developers sold 23 units in September, up by 27.8% from the 18 units transacted in August. Coastal Cabana EC was the top-selling project, moving 19 units at a median price of $1,811 psf. Fresh supply has been limited in the EC market with no new EC project rolled out since Rivelle Tampines in March 2026, and URA figures showed that just 145 EC units are unsold in launched EC projects at the end of September.

Ms Wong Siew Ying, Head of Research & Content, PropNex Realty said

"With the Hungry Ghost Month or Lunar Seventh Month running from 13 August till 10 September this year, there were limited new launches on the market, and most of the developers' sales done in September have been at projects launched earlier. Apart from the 24 units sold at Amberwood at Holland, the remaining 92% of the sales during the month were from previously-launched projects.

This suggests a steady base of demand even when launches are thin, with buyers continuing to consider options at existing projects, although the pace of sales will be influenced by the availability of units, pricing and the appeal of each project. To this end, developers will need to price their remaining inventory competitively and offer attractive value propositions to sustain sales momentum.

In particular, two existing launches - Terra Hill and The Sen in the RCR - led overall project sales in September, while Lentor Gardens Residences and Union Square Residences also continued to pare down their unsold stock, the latter helped by more attractive pricing since March. We note that sharper pricing at Terra Hill likely brought buyers back, with the project selling 32 units in September, the highest monthly sales since it sold 89 units when it was launched in February 2023. The median price of $2,209 psf at Terra Hill in September is also the lowest monthly figure since launch.

In our view, these remain project-specific price adjustments rather than a broad shift in pricing, but they show that buyers are still very much in the market and will act when a project stands out on value. With more new homes coming onto the market in the final quarter, pricing is likely to set the pace of sales at both fresh launches and those already in the market.

Median transacted unit prices of new non-landed homes were relatively stable in September, with marginal month-on-month declines in the CCR and OCR (see Table 1), based on URA Realis caveat data. In the RCR, the median unit price dipped 5.0% MOM to $2,522 psf. This largely reflects the repricing at Terra Hill, along with a larger share of sales at The Sen, which held its prices but is positioned below the RCR median.

Table 1: Median transacted unit price ($PSF) of non-landed private new homes sold (ex. EC) by region by month

We expect a much better showing in October, with several new launches that will collectively offer nearly 2,000 private homes. The first of the three launches, Lucerne Grand in Jurong, got October off to a strong start, with 61% of its 570 units sold during its launch weekend. Freehold development The Serra Residences and mega project Thomson Reserve are also slated for launch this month. We expect buyers to remain selective and will gravitate towards projects where location, layout and pricing line up.

According to URA Realis caveat data, Singaporeans and Singapore permanent residents (PRs) continued to account for the bulk of new non-landed private home sales (ex. EC) in September, at 85.4% and 12.3%, respectively. Foreigners who are not PRs made up 2.2% of transactions. In absolute terms, there were six transactions by foreigners (non-PRs) in September, comprising units at Terra Hill, Hudson Place Residences, The Continuum, Union Square Residences, and Upperhouse at Orchard Boulevard.

Looking ahead, Singapore's resilient economy and low unemployment should continue to underpin household confidence and buying power. Even so, buyers will likely stay discerning on price, while global economic uncertainties and a rise in retrenchments could weigh on some purchasing decisions."

Table 2: Top-Selling Private Residential Projects (ex. EC) in September 2026