The highest psf price recorded in 1Q2026 was when a 6,232 unit on the 19th floor of The Marq on Paterson Hill was sold for $5,937 psf ($37 million) in January. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
In the first quarter of the year, demand for luxury homes has remained strong, with 188 landed and non-landed homes in the Core Central Region (CCR) transacting at $5 million and above, according to a report by Realion (OrangeTee & ETC).
This is slightly higher than the 186 deals recorded last quarter, and the 177 units in 3Q2025. On a yearly basis, it is significantly above the quarterly average from the past three years, which stood at 137 units.
Luxury new home sales rose for the fourth consecutive quarter to 55 units, marking a new high since 75 homes were transacted in 4Q2023. This was led by River Modern (38 transactions), with Skye at Holland, Upperhouse at Orchard Boulevard and Watten House selling three units each.
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The 455-unit River Modern, which was launched on March 7, made up 20% of total sales in 1Q2026, with almost 90% of the project sold on its launch day.
However, resale transactions dropped slightly on a quarterly basis, from 139 to 133 units. The bulk of these deals emerged from Draycott and Leedon Residence, followed by Paterson Suites, Nassim Jade and Goodwood Residence, Boulevard 88 and Regency Park.
About 69.3% (133 units) of luxury home buyers in 1Q2026 were bought by Singaporeans, on par with data from 4Q2025, where Singaporeans made up 73.1% (136 units) of luxury home buyers.
Research from Realion (OrangeTee & ETC) believes buyers are “not deterred by the macroeconomic uncertainties as they probably view luxury homes here as long-term secure assets”.
However, the total transaction value in 1Q2026, including bulk deals, have dropped slightly by 4% to $1.7 billion, from $1.77 billion in 4Q2025. The total transaction value for resale homes in this quarter also fell from $1.43 billion in 4Q2025, to $1.3 billion, while new home sales grew to $0.4 billion, from $0.3 billion last quarter.
CCR condos sold above $3,000 psf, and for at least $5 million, rose from 50 and 54 units in 3Q2025 and 4Q2025 respectively, to 75 units in 1Q2026. According to Realion (OrangeTee & ETC), this is the highest quarterly transaction since 4Q2023, which saw 84 units sold.
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From this quarter, the majority of the 75 units came from new home sales, which saw 53 units, followed by resale deals at 24 units.
In terms of the highest psf price recorded in 1Q2026, a 6,232 sq ft unit on the 19th floor of The Marq on Paterson Hill was sold for $5,937 psf ($37 million) in January. The second-highest belonged to a new sale for a 2,906 sq ft unit at Park Nova, which fetched $5,161 psf ($15 million) in February.
Ultra luxury condos, priced at $10 million and above, saw hiking interest with 17 units sold, up from 14 units in 4Q2025. New sales for ultra luxury condos came from 32 Gilstead which sold two units, while 21 Anderson and Park Nova had sold one unit each. The remaining units were from resale condos.
For good class bungalows (GCBs), four transactions were recorded in 1Q2026, dipping from nine last quarter. On a yearly basis, the four units registered demonstrates an increase from the two units in 1Q2025.
Based on caveats lodged, these comprised of a house from the Gallop Road/Woollerton Park GCB area ($31.5 million), Brizay Park GCB area ($26.6 million), Chestnut Avenue GCB area ($11.5 million) and Victoria Park GCB area ($22 million).
The average land rates, according to caveats lodged, have fallen to $1,803 psf in 1Q2026, from $2,021 in the previous quarter. This marks the lowest average land rate since 2Q2022, says Realion (OrangeTee & ETC).
Read also: Jervois Hill GCB for sale at $80 mil
Looking ahead, Realion (OrangeTee & ETC) predicts demand for luxury homes, especially for ultra-luxury condos and GCBs to remain robust due to its scarcity in the market.
Although global economic crises may slow investment activity, “Singapore’s safe haven status will continue to attract ultra high net worth individuals (UNHWI) to park their wealth here for capital preservation and portfolio diversification”, says the firm.
Singapore’s attributes such as its currency strength, stable political environment, low corruption record and thriving financial ecosystem make it a preferred investment destination.
The firm also notes a spike in family offices in Singapore. As global investments grow complex, Singapore stands as a hub for Asian families managing regional investments. Accompanied by a competitive tax environment and zero capital gains tax, this will attract more wealthy households into Singapore and boost demand for luxury homes.