Developers’ sales rebound in January as new launches reignite market activity

Following a subdued December marked by year-end seasonality, January 2026 brought a clear rebound in developer sales. While activity did not match the highs seen a year ago, the month marked a decisive return of buyer interest – particularly in well-located new launches and Executive Condominiums (ECs).

According to URA data, developers sold 990 new private homes including ECs in January. Excluding ECs, 466 new private homes were transacted, more than double the 197 units sold in December. At the same time, 786 private homes (excluding ECs) were launched for sale during the month, an increase from just 52 units in December.

So what drove this turnaround? And what does it tell you about where the market is headed next?

A rebound after the year-end lull

The jump from 197 units in December to 466 units in January (excluding ECs) represents a 136% month-on-month increase. While December is often softer due to the festive season, January’s recovery was still notable.

However, when compared to January 2025, sales were lower on a year-on-year basis. That said, last January was boosted by large launches that had exceptional take-up rates. This year’s performance reflects a more calibrated and selective market environment.

Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that January’s rebound in sales was largely driven by two major launches. He added that while overall volumes remain below last year’s peak, steady demand at higher price points signals continued buyer confidence – especially for prime projects backed by strong fundamentals.

Two major launches drove more than half of private sales

January’s private home sales were largely concentrated in two projects:

• Newport Residences (Core Central Region)
• Narra Residences (Outside Central Region)

Together, they accounted for 254 units, or roughly 54.5% of total private home sales (excluding ECs).

Newport Residences (CCR)

Located along Anson Road, this freehold development launched 246 units in January and sold 132 units within the month. The median price came in at S$3,070 psf, with some units transacting above S$4,000 psf.

The strong take-up in the Core Central Region (CCR) suggests that buyers remain confident in prime district properties – especially when pricing is seen as aligned with market conditions. Importantly, this continues the improved momentum seen in the CCR throughout 2025, when interest rates began stabilising and more prime supply returned to the market.

January’s CCR total reached 162 units sold, significantly higher than the 20 units in December.

Read more: 5 key insights for Newport Residences prospective buyers

Narra Residences (OCR)

Meanwhile, Narra Residences in Dairy Farm Walk launched all 540 units in January and moved 122 units at a median of S$2,148 psf.

While the launch weekend take-up was more measured compared to some 2025 mega-launches, this pace is not unusual for the location. Projects in this area tend to see steady absorption over time rather than immediate sell-outs.

Overall, the Outside Central Region (OCR) led January’s sales with 183 units sold, up sharply from 67 units in December.

This reflects continued demand in suburban locations, particularly when pricing remains within reachable quantum levels for HDB upgraders and mass-market buyers.

Read more: Forest-inspired modern living at Narra Residences starts from S$1,930 psf only

RCR: Steady activity despite no major launch

Unlike the CCR and OCR, the Rest of Central Region (RCR) did not see any fresh launches in January. However, 121 units were still sold from existing projects – slightly higher than December’s 110 units.

Notable RCR transactions were recorded at:

• Grand Dunman – 17 units at a median of S$2,475 psf
• The Continuum – 16 units at S$2,826 psf
• One Marina Gardens – 13 units at S$3,013 psf
• Bloomsbury Residences – 11 units at S$2,536 psf

This steady pace shows that buyers are still revisiting earlier launches, especially as supply in certain city-fringe locations tightens.

Looking for upcoming new launch projects this year? Read more here: Full List of New Condo Launches in 2026

Executive Condominiums: The month’s anchor

While private condo sales rebounded, the EC segment was the real standout in January.

Developers sold 524 EC units, compared to just 37 units in December.

The surge was driven almost entirely by the launch of Coastal Cabana, a 748-unit EC in Pasir Ris. The project moved 504 units in January at a median price of S$1,790 psf.

This strong performance underscores sustained demand for ECs among first-time buyers and HDB upgraders. In fact, EC pricing remains meaningfully lower than new 99-year leasehold private condos in the OCR.

With more EC launches expected later in the year, including projects in Tampines and other suburban estates, periodic surges in EC sales are likely to continue in 2026.

Read more: Coastal Cabana EC achieves S$1,734 psf on launch sales, nearly all sea-view units taken up

Foreign buyer participation remained low

Despite a prime CCR launch in January, foreign buyer participation remained limited.

Only about 2% of new non-landed private homes (excluding ECs) were purchased by foreigners. Singaporeans accounted for the vast majority of transactions, followed by Permanent Residents.

What lies ahead: A more selective phase

Looking forward, February may see slightly muted activity due to the Lunar New Year period and the absence of major launches. However, activity is expected to pick up again from March.

One upcoming project that may draw attention is River Modern, located in District 9 near Great World MRT and lifestyle amenities. Given January’s positive response to prime launches, interest in well-located CCR projects could remain firm.

At the same time, several OCR launches are scheduled for 2026, including projects in Bayshore, Tengah, Lentor and other growth areas. These will likely sustain suburban momentum.

Mr. Luqman Hakim notes that the market is entering a more selective phase. Mortgage rates have stabilised, and approximately 10,000 new units are expected to be launched in 2026. As 2026 unfolds, momentum will likely depend on how upcoming launches are priced – and how global economic conditions evolve. For now, January’s numbers suggest that Singapore’s private housing market remains firm, selective, and grounded in real demand.

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