Singapore Property Market 2026: Cooling Prices and Shifting Trends Compared to the 2021 Boom

The Singapore property market in mid-2026 looks dramatically different from the heady days of the 2021 boom, with resale volumes tapering off and price growth moderating across both private and public segments. The median price of a non-landed private condominium now stands at S$1.8 million—a plateau compared to the record-breaking surges seen five years ago.

This cooling matters for thousands of would-be buyers and sellers now recalibrating their expectations, especially after two years of rapidly rising borrowing costs and tighter loan curbs by the Monetary Authority of Singapore (MAS). Developers, upgraders, and first-time home seekers all feel the shift: units are sitting longer on listings, and some sellers are trimming asking prices, particularly outside the central core.

From Orchard Road to Tengah: Changing Fortunes

Districts 9, 10, and 11—Orchard Road, Holland, and Newton—were once the epicentre of price escalation in 2021, with new launches snapped up within days. Today, showflats along Cairnhill and Bukit Timah Road are quieter. According to SRX Property, transaction volumes in these prime districts fell 12% in Q2 2026 versus the same period a year ago. Meanwhile, newer towns like Tengah and Jurong have seen relative resilience, with HDB resale flats in Garden Vines @ Tengah climbing modestly to a median S$555,000—still far below their peak, but notably higher than pre-pandemic levels.

The executive condominium (EC) segment, once red hot among upgraders, is also shifting. Parc Solaré in Tampines launched in May and recorded a steady but unspectacular take-up rate of about 62% for the first balloting exercise, compared to the 80% sell-through norm in 2021. Agents cite more cautious sentiment among buyers juggling higher mortgage rates and strict TDSR requirements.

Price Slowdown and Growing Caution

The latest Urban Redevelopment Authority (URA) flash data, released last week, shows private home prices edged up just 0.7% in Q2 2026. That’s sharply lower than the quarterly gains regularly exceeding 3% during the 2021 surge. HDB resale values, tracked by the Housing & Development Board, are similarly steady: June’s median resale price was S$563,000, marginally below the S$570,000 all-time high set in March 2022.

"Buyers now expect value," says a senior negotiator at a major agency, who requested anonymity as she is not authorised to speak to media. Units at mass-market condos in Punggol and Jurong West, for example, are being transacted at S$1,540 to S$1,630 per square foot—off their peaks but still strong historically. Rental demand is easing too, with a 6% decline in private residential leasing volume islandwide since January, as reported by EdgeProp Singapore.

For those contemplating their next move, agents recommend a more strategic approach. Buyers should prioritise budget discipline given today’s rate environment and not assume runaway appreciation. Meanwhile, sellers chasing 2021-style premiums may wait longer than they expect to close a deal. The property tide has turned, and in this new cycle, realism—not exuberance—sets the tone for 2026.