As we edge closer to 2026, many prospective buyers, property investors, and homeowners ask: “What will Singapore property prices look like in 2026?” After a period of strong price growth, supply constraints, policy interventions, and global macroeconomic shifts are reshaping expectations.
In this article, we examine the key drivers, recent data, expert forecasts, and risks affecting the Singapore property market heading into 2026. We’ll break down what segments might outperform, where prices may soften, and how you can position yourself wisely in this evolving landscape.
1. Recent Trends & Market Backdrop
To understand 2026, let’s first look at what’s happening now (2024–2025) and how those dynamics may carry forward.
1.1 Price Growth Has Moderated
In 2024, Singapore’s private residential property prices rose by about 3.9 %. That’s a slower pace than the boom years of 2021–2022, reflecting cooling policies and rising mortgage costs.
Public housing (HDB) resale prices likewise saw a strong jump in 2024—9.6 % year-on-year growth. However, that pace is unlikely to be sustained as more supply enters the market.
1.2 Supply Constraints Are Easing
One of the key structural supports for prices has been limited supply of new units. For example, private housing completions are forecast to be relatively low:
- 2025: ~5,300 new private units
- 2026: ~7,600 new units
These levels are well below the decade average of ~12,000 units per year.
In the HDB domain, many new flats built earlier will reach their Minimum Occupation Period (MOP) in 2026, making them eligible for resale—potentially increasing resale supply.
1.3 Cooling Measures & Policy Controls
The Singapore government has long used cooling measures (ABSD, loan‑to‑value limits, resale restrictions, etc.) to moderate speculative demand. These policies will remain a critical balancing factor as 2026 approaches.
1.4 Macro & Financial Factors
Interest rates, inflation, and global economic conditions will also deeply influence property trends:
- Mortgage rates remain under pressure due to global rate cycles.
- If rates ease, that could return affordability and spur demand.
- The strength of Singapore’s economy, incomes, and foreign capital flows will matter.
With that backdrop, let’s explore what forecasts suggest for 2026.
2. Forecasts & Projections for 2026
Given the current data and market dynamics, here are the prevailing forecasts and expert views for 2026:
2.1 Private Residential Price Growth
Most analysts expect moderate but steady appreciation:
- Private property price growth in 2025 is forecasted at 2–4 %.
- For 2026, many forecasts put growth in the 3–5 % range.
Bamboo Routes, for example, projects 4–5 % growth for private residential in 2026. Meanwhile, supply constraints are expected to constrain downward pressure.
2.2 HDB / Public Housing Resale
Because the pool of MOP-eligible flats is expected to expand in 2026, the supply of resale flats will increase. As a result, HDB resale price appreciation may moderate:
- Forecasts for 2025: 5–8 % growth
- Forecasts for 2026: 3–5 % growth
2.3 Rental Market & Yields
Rental demand, especially in private residential, is expected to hold up. Analysts often project rental growth of 3–4 % in 2026 for core areas. Yields may compress if prices rise faster than rents, but tight supply, especially in prime areas, supports rental strength.
2.4 Segment Differentiation: Landed, Prime, Fringe
- Landed homes and Good-Class Bungalows (GCBs) will likely see selective demand, but may face greater volatility due to their high price quantum. Some buyers may hold back.
- Prime districts (CCR, RCR) may lag slightly relative to fringe or secondary markets due to very high entry prices. However, prestige and scarcity might still offer upside for premium properties.
- Outside Central Region (OCR) / fringe areas are expected to benefit from affordability and infrastructure improvements.
3. Key Drivers & Risks for 2026
Forecasts are only as good as their underlying assumptions. Several drivers and risk factors will shape how 2026 actually unfolds.
3.1 Drivers Supporting Price Growth
- Limited land scarcity: Singapore is a land-constrained city. The difficulty of creating new land or significantly expanding urban areas is a built-in restraint.
- Increased supply of resale flats from MOP-eligible stock in 2026 may relieve some pressure but also feed demand.
- Continued demand from upgraders and household formation: Many HDB owners or young families may move into private properties.
- Foreign investor interest, especially in trophy / prime assets, depending on cooling measures.
- Policy support / infrastructure development (e.g. new MRT lines, electrification, regional growth) can enhance appeal in specific districts.
3.2 Risks & Headwinds
- Interest rate increases or prolonged elevated rates could dampen affordability.
- Tighter government cooling measures if property overheating is observed.
- Surge in supply from new launches or oversupply in certain locations.
- Global economic shocks (recession, capital flight, inflation) could reduce foreign investment and domestic appetite.
- Lease decay and aging stock: Older properties with shorter remaining lease terms may lose attractiveness relative to newer builds.
4. What to Watch for in 2026 (Leading Indicators)
- The number of HDB flats reaching MOP (eligible for resale)
- New private residential completions
- Mortgage interest rates / lending conditions
- Cooling measure announcements (ABSD, stamp duties, LTV rules)
- Transaction volumes and inventory levels
- Rental vs capital return comparisons
- Popularity & performance of fringe / emerging districts
5. Implications for Buyers, Investors & Homeowners
5.1 Home Buyers & Upgraders
- Buying in 2026 may still offer decent capital growth, but timing, location, and lease terms become more critical.
- Consider fringe / emerging areas where upside is higher.
- Factor in total cost of ownership (financing, maintenance, repairing aging units)
5.2 Real Estate Investors
- Look for select projects with runway growth (near new infrastructure, transit nodes).
- Focus on rentals and yields, not just capital appreciation.
- Monitor policy changes—investor returns may be more sensitive under new controls.
5.3 Current Homeowners / Sellers
- Those holding prime or luxury homes may find a more challenging resale environment versus recent years.
- For HDB-to-private upgraders, timing becomes important—consider when MOP flats flood the resale market.
- Renovations, presentation, and lease retention could significantly affect resale premiums.
6. Sample Scenario: What If Rates Rise?
Let’s run a simplified scenario to illustrate the sensitivity of price growth to interest rates:
- Suppose the base case forecast is +4 % price growth in 2026.
- If mortgage rates rise by 0.75% (tightening affordability), demand might drop 10–15%. That could shave 1–2 percentage points off growth, resulting in 2–3 % appreciation instead.
- Conversely, if rates ease or incentives are introduced, growth might temporarily overshoot.
This highlights how interest rates are a critical lever in the property market.
7. Forecast Summary Table
| Segment | Expected 2026 Growth | Notes / Risks |
| Private residential (mass / non-prime) | 3 % – 5 % | Stronger demand, supply constraints |
| Private prime / CCR | 2 % – 4 % | High quantum slows uptake |
| HDB resale | 3 % – 5 % | Increased resale supply may temper growth |
| Rental (private) | 3 % – 4 % | Driven by tenant demand and limited stock |
| Landed / GCB | 1 % – 3 % (selective) | High prices, sensitive to market swings |
Final Thoughts
- Singapore property prices in 2026 are likely to continue appreciating, albeit at a more moderate and sustainable pace compared to the frenzy of recent years.
- Private residential and non-prime segments may lead the growth; HDB resale will see moderated gains due to increased supply.
- Affordability, interest rates, and policy shifts will play outsized roles in determining real outcomes.
- For investors and buyers, location, lease term, and fundamentals will matter more than ever—speculative bets will carry more risk.
