Commentary On The Flash Estimate Of Q2 2026 Private Residential Property Price Index

The flash estimate of URA’s price index for private residential properties in Q2 2026 shows that Singapore’s private housing price growth eased, rising 0.5% q-o-q in Q2 2026 after 0.9% q-o-q growth in Q1 2026. The growth was uneven, led by landed and CCR non-landed, partially offset by declines in RCR and OCR non-landed. This brings private home price growth to 1.4% in 1H 2026.

— The flash estimate of URA’s price index for private residential properties in Q2 2026 shows that Singapore’s private housing price growth eased, rising 0.5% q-o-q in Q2 2026 after 0.9% q-o-q growth in Q1 2026. The growth was uneven, led by landed and CCR non-landed, partially offset by declines in RCR and OCR non-landed. This brings private home price growth to 1.4% in 1H 2026.

URA Q2 2026 flash

Flash estimates show that private home prices rose 0.5% q-o-q in Q2 2026, moderating from the 0.9% q-o-q increase in Q1 2026.

Q2 2026’s private home price increase was led by landed properties, which rebounded 2.6% q-o-q after falling 0.4% q-o-q in Q1 2026. In contrast, the non-landed home price index saw a marginal 0.1% q-o-q decline after rising 1.3% in Q1 2026.

Price performance was mixed across non-landed market segments, led by the CCR which saw 2.0% q-o-q growth. On the other hand, the OCR posted a marginal decline of 0.2% q-o-q and the RCR underperformed, falling 1.4% q-o-q.

Preliminary 1H 2026 new sales tally at 4,129 units, 11.1% lower than the 4,587 units sold in 1H 2025.

Despite heightened volatility and economic uncertainty in H1 2026 from the Middle East conflict which escalated from 28 February, homebuying appetite has remained resilient so far amid low interest rates. Developers have also become increasingly bullish in CCR Government land sale tenders that closed in the quarter – in particular, Peck Hay Road, Dunearn Road (2) and River Valley Parcel C, which recorded benchmark bid prices above comparable 2025 GLS tenders in the same location.

Barring economic shocks, a decent pipeline of attractive new launches for the rest of the year and low mortgage rates are likely to continue supporting sales momentum. CBRE Research expects 7,500 – 8,500 new homes to be sold in 2026. This would be a moderation from the high base of 10,815 units in 2025 largely on fewer launches and the normalisation of pent-up demand after above-trend volumes last year.

Correspondingly, private home prices, which have risen 1.4% in 1H 2026 based on Q2 2026’s flash estimate, could grow at a similar pace in 2H 2026. We maintain our private home prices to grow 2 – 4% in 2026 for now, relatively in line with MTI’s most recent 2026 GDP growth forecast of 2 – 4%, which is a moderation from the 5% GDP growth for 2025.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at https://www.cbre.com/.

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