May 2026 Developer Sales: one-north’s RCR Value Proposition Draws Buyer Interest

SINGAPORE, 15 June 2026 - In May 2026, the new private home market saw a total of 447 units (excluding ECs) sold by developers following the sole project launch of Hudson Place Residences. This marks a 71.1% month-on-month (m-o-m) decline in transaction volume.

In the EC market segment, 46 units were sold, marking a 54.5% m-o-m decline, as the stock of ECs under the previous set of measures continues to get snapped up.

Hudson Place Residences was May’s sole new launch and subsequent best-selling project. Moving 209 (64%) of its 327 total units at a median price of $2,465 psf, it accounted for 46.8% of all private new homes sold in the month.

“Hudson Place Residences adds new private housing supply to support one-north’s continued growth as a key commercial and research node, with its knowledge-based ecosystem further strengthened by the recently announced Kampong AI,” said Marcus Chu, Chief Executive Officer, ERA Singapore.

“Beyond supporting the housing demand created by these robust and rapidly growing industries, Hudson Place Residences provides a strong value proposition for buyers looking for new homes in the RCR market. The median new sale price of $2,465 psf reported at Hudson Place Residences was 6.5% lower than the 5-month RCR non-landed new sale median of $2,635 psf, highlighting the underlying demand for affordably priced homes near the city fringe.”

Existing Stock in the RCR Continues to Move Amid Projected Low Supply

For the month of May, new home sales in the RCR made up a total of 74.5% of all primary market transactions. They also made up six out of the ten (or more than half) of the best-selling projects in the month.

The Continuum sold 19 units in the month, continuing its trend as a monthly top-seller. As RCR prices continue to grow, along with the market, its median price of $2,752 psf in the month has started to look more attractive to buyers, given its freehold tenure in prime District 15, which has not seen a new project launch since 2024 and has no new projects in the supply pipeline.

Bloomsbury Residences also sold 13 units, benefiting from the momentum of Hudson Place Residences' successful launch. The neighbouring project, also developed by QingJian Realty, shares similar location attributes. Buyers could have been waiting to evaluate the different prices, project-specific attributes, and floor plates before making an informed decision between the two projects, subsequently driving transactions.

RCR's new launch supply looks set to remain thin, with only the 1,268-unit Thomson Reserve and 428-unit (currently unnamed) project at Dorset Road GLS slated to launch by year-end. This could have resulted in the six RCR projects being featured in the top ten for new sale transactions in May.

New launches in the RCR next year are likely to establish new benchmark prices for new homes, following high land rates for GLS sites such as Dover Drive and Tanjong Rhu Road (both 2H 2025 GLS). Buyers interested in making an upgrade to city fringe precincts might therefore be compelled to do so before the next wave of RCR new launches that look set to push the region’s prices upwards.

Monthly EC sales slow, but new rules could drum up interest for upcoming projects

In May, 46 EC sales were recorded, a 54.5% m-o-m decrease. This includes transactions for the last 13 units at Rivelle Tampines, which is now officially sold out.

The lower number of EC transactions in the month can be attributed to a dwindling overall supply of EC. As of 15th June 2026, only 155 EC units remain on the market, which we expect to be steadily snapped up by buyers in the coming months.

With new rules prioritising first-timers at future EC launches, second-timer interest in upcoming projects, unaffected by the priority change, could rise further. This could be driven by those unwilling to wait out the two-year priority window for first-timers that applies to EC sites launched under the latest measures from 8 May 2026 onwards.

The three EC launches expected in the fourth quarter are located at Woodlands Drive 17, Senja Close, and Sembawang Road. We can expect strong buyer interest in these projects as well, since they are governed by the previous set of EC restrictions. They should receive strong buyer interest, particularly among second-timers.

Closing thoughts and forecast 

“Despite underlying uncertainty from geopolitical tensions, domestic demand for new private homes has held up, as buyers remain selective yet confident. Those with genuine housing needs are likely to continue purchasing, supported by Singapore’s strong economic fundamentals, a tight labour market, and palatable interest rates, enabling them to commit.

For the full year, buyers can expect a pipeline of approximately 18 private residential projects and five executive condominium launches in 2026. Barring unforeseen developments, ERA Singapore projects new home sales to reach between 9,000 and 10,000 units by year’s end.”