Singapore's landed housing market recorded 418 transactions (excluding Good Class Bungalows and cluster houses) in 1Q2026, falling 13.3% q-o-q (Picture: Samuel Isaac Chua/EdgeProp Singapore)
Landed housing activity in Singapore softened in 1Q2026, as the market turned cautious following the outbreak of the Middle East conflict, according to a research report by Huttons Asia published on May 4.
URA data tabulated by the firm showed 418 landed homes sold last quarter, excluding Good Class Bungalows (GCBs) and cluster homes. The figure marks a 13.3% q-o-q decline from the 482 landed homes sold in 4Q2025, which Huttons had pegged as the highest quarterly sales volume since 4Q2021. It is also 3% lower y-o-y.
“Some sellers and buyers may have opted to wait for more clarity from the Middle East conflict, leading to lower transaction volume,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.
Read also: Landed homes market puts up strong 4Q2025 performance, bolstered by upgraders: analysts
Quarterly volume and average psf price of landed homes:
Average psf prices for landed housing remained largely unchanged in 1Q2026, with Huttons’ report putting the figure at $2,143 psf, compared with $2,148 psf in 4Q2025. In terms of total sales value, the landed housing market fetched $2.8 billion last quarter, down 3.8% q-o-q.
Excluding GCBs and cluster housing, the largest landed housing deal last quarter by absolute quantum was the sale of a freehold detached home on Dunearn Road in District 11 for $55 million, or $2,274 psf, on March 6.
The home, which belonged to the Ong family that founded the Green Bus Company, was put up for sale in July 2025 at $60 million, with the asking price subsequently reduced in November 2025 to $55 million. The property has a land area of 24,190 sq ft.
The biggest landed housing deal by absolute quantum in 1Q2026 was the sale of a bungalow on Dunearn Road for $55 million ($2,274 psf) on March 6 (Picture: Albert Chua/The Edge Singapore)
The second-largest landed property transaction in 1Q2026 was the sale of a bungalow at Barker Road, also in District 11, on Feb 2. The house, which has a freehold land area of 15,783 sq ft, fetched $43.2 million ($2,737 psf).
At the lower end of the market, the smallest landed property deal last quarter was the sale of a terraced house on Jalan Chempaka Kuning, off Upper Changi Road in District 16, on Feb 5. The home, which has a 70-year land tenure from 1964, has about eight years remaining on its lease. It changed hands for $400,000, or about $107 psf on its land area of 3,724 sq ft.
Despite the q-o-q dip in transaction volume and total sales value, Huttons’ report highlights that, on average, landed homes achieved higher absolute prices in 1Q2026 compared with the previous quarter. A landed home cost an average of $6.5 million last quarter, 10.9% higher than $5.86 million in 4Q2025.
The higher average deal size in 1Q2026 was driven by detached housing, which outperformed the terraced and semi-detached segments. Detached homes recorded a q-o-q increase in both volume and average psf prices, rising from $1,785 psf in 4Q2025 across 50 deals to $2,069 psf in 1Q2026 across 57 transactions. This is the first time average detached housing prices have crossed $2,000 psf, says Huttons.
In contrast, terraced and semi-detached homes saw marginal declines in both volume and psf prices. A total of 228 terraced homes were sold in 1Q2026 at an average of $2,284 psf, down from 281 homes at $2,297 psf in 4Q2025. For semi-detached houses, 133 homes were sold at an average of $1,934 psf last quarter, compared with 151 homes at $1,991 psf in 4Q2025.
Out of the 418 landed homes that were sold in 1Q2026, 368 (88%) were 999-year leasehold and freehold properties – 3.1 percentage points higher compared to the previous quarter, says Huttons. Landed homes with 99-year leases totalled 50 transactions (12%).
Market data shows a widening price gap, with freehold and 999-year leasehold properties outstripping the price growth of 99-year leasehold homes.
In 1Q2026, prices for 99-year leasehold landed homes averaged $1,554 psf, largely in line with the $1,544 psf recorded for the whole of 2025, and only 2.3% higher than the $1,519 psf in 2024.
In contrast, the average price of freehold and 999-year leasehold landed homes stood at $2,223 psf in 1Q2026, 3.8% higher than $2,141 psf in 2025, and 10.5% above the $2,012 psf recorded in 2024.
Read also: Landed home market posts lower sales volume and prices in 2Q2025: Huttons
As a result, the gap between average prices for 999-year leasehold and freehold homes compared to 99-year leasehold homes has grown from 32.5% in 2024, to 38.6% in 2025, to 43% as of 1Q2026.
Widening gap between 999-year/freehold and 99-year leasehold landed properties:
As tensions in the Middle East continue to create uncertainty in the global economy, Huttons believes the landed housing market could see further divergence in performance, with buyers leaning towards newer, move-in-ready homes. “If the cost of constructing a new landed home increases in the next few months, it may discourage some buyers from purchasing older landed homes for rebuilding,” says Lee.
At the same time, the landed property market could see tailwinds from new Singapore citizens, he adds. In February, the government announced plans to take in 25,000 to 30,000 new citizens annually over the next five years to counter falling fertility rates. Lee notes that this may translate into more wealth entering the landed housing market.
Given these factors, Huttons expects overall landed housing transaction volume in 2026 to decline slightly from 2025, although prices are likely to remain broadly stable.
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