Singapore’s Property Market 2026: How It Stacks Up to the 2021 Boom

Singapore’s private condo prices have continued to rise in the first half of 2026, with the median transaction crossing S$1.8 million last month—18% higher than the highs of the 2021 boom, but with buyers considerably more discerning about where they park their money.

That demand has not been evenly spread. The current market is defined by hot spots of activity in certain districts, and a more muted mood elsewhere. This stands in sharp contrast to the frenetic, broad-based surge seen five years ago, when virtually every project—be it Jurong, Bukit Timah, or Marine Parade—enjoyed double-digit price jumps and fast-moving queues at launch previews. Today, price growth is concentrated in areas like the newly-matured Bishan-to-Toa Payoh corridor, and in fresh launches at Tengah New Town, while others have seen plateaus or even small corrections.

Hot Pockets and Cautious Optimism

On the ground, agents at Samsung Hub and ERA Realty say buying interest has focused sharply on new executive condo (EC) launches in Tengah, as well as upscale freehold units along River Valley Road and the Cairnhill district. HDB resale prices, meanwhile, have set new benchmarks: a five-room flat at Pinnacle@Duxton changed hands for a record S$1.58 million in June, according to HDB transaction data.

Compare this to 2021, when even mature estates like Ang Mo Kio and Queenstown experienced price gains of 12-15% in less than twelve months. In 2026, by contrast, the Urban Redevelopment Authority (URA) data shows non-landed private home prices islandwide are up just 3.6% in the first half of the year, and overall resale volume was actually 9% lower than the matching period in 2021. Market watchers say buyers today are less driven by pandemic-era FOMO, and more by long-term value, transport connectivity, and school proximity. For example, Lentor Modern units near Anderson Primary are achieving sustained premiums, while those farther from MRT access have trailed behind.

The Council for Estate Agencies reported that total new home sales across the Core Central Region (CCR) touched 912 units from January to May 2026—down from 1,570 in the same period during 2021’s frenzy. By contrast, sales in emerging districts, such as at Plantation Grange EC in Tengah, have surged, with nearly 82% of units snapped up within the first launch weekend this April.

Sharper Policies and What’s Next

Analysts attribute the shift to a string of cooling measures introduced since late 2021, including a tighter Additional Buyer’s Stamp Duty (ABSD), a 55% Total Debt Servicing Ratio, and more granular restrictions on reissuing options for buyers. These have dulled some of the speculative heat but channelled genuine demand into specific segments—especially among young upgraders and those drawn by the Build-To-Order (BTO) supply at Tengah and Bukit Batok.

For prospective buyers, resources like the Singapore Land Authority’s OneMap platform can help assess neighborhood amenities and past transactions for specific projects. The enduring advice from EdgeProp’s market trackers: Be ready for brisk competition at launches in Districts 9, 10, and the North-East, but expect more space to negotiate in outer-lying districts. With the next batch of BTO balloting set for mid-August and at least four new private launches scheduled for Q4, the second half of 2026 could provide more clarity—and perhaps, a more balanced rhythm—than the frenzied heat of the last boom cycle.