Commentary on July 2026 Monthly Developer Sales

In July 2026, the new private home market recorded 731 units (excluding ECs) sold, following the debut of two major projects, Dunearn House and Lentor Gardens Residences. This marks a 368.6% month-on-month (m-o-m) increase in transaction volume, up from 156 units sold in June. 

In the EC segment, 27 new units were sold, marking a 3.6% decline on the month, as existing stock continues to deplete.

“Buyers returned in force as fresh, attractive options entered the market in both the Core Central Region and the Outside Central Region after June’s lull. This fresh slate of new launches, together with June’s low base, helped drive the sharp rebound in developer sales,” said Marcus Chu, Chief Executive Officer, ERA Singapore.

With Dunearn House, buyers were given the first chance to own a new private home in the revitalised Bukit Timah Turf City estate. Meanwhile, Lentor Gardens Residences offered buyers another opportunity to enter a precinct where new launches have enjoyed strong demand. 

“These locational attributes resonated with owner-occupiers and investors, helping both projects emerge as July’s top two best-sellers. Sales at both projects totalled 482 units, or 63.6% of July’s new home transactions, with 270 units sold at Lentor Gardens Residences and 212 at Dunearn House.”

Table 1: Top three new non-landed projects in July 2026 (excluding ECs)

Source: URA and ERApro as of 17 Aug 2026, ERA Research and Market Intelligence

July also ranks as the third-best-performing month for new private home sales (excluding ECs) so far this year, with 731 units sold, behind March’s 1,300 units and April’s 1,548 units. This volume also exceeds the monthly average of 694 units sold between January and June.

“This suggests that local demand for new private homes remains resilient, even as buyers are cautious about big-ticket purchases in the current economic climate. Today’s buyers are still prepared to enter the market for well-located and attractively priced projects, especially as interest rates remain below the highs of recent years,” adds Chu.

Lentor Gardens Residences Sees Healthy Take-Up as Seventh Project in Precinct

Moving 270 units (or 54%) of its 499 units, Lentor Gardens Residences was July’s top-selling project. 

“A take-up of over 50% is a healthy outcome, given that it is Lentor’s seventh launch since 2022. By now, the precinct has already seen a substantial supply of 3,453 units across seven new projects, making this result noteworthy,” said Chu.

The market’s reception to Lentor Gardens Residences could also provide an early indication of demand for the future project at the Lentor Central GLS site, which could launch sometime next year. This site was awarded in March this year to a consortium comprising GuocoLand, Intrepid Investments and TID for $657.1 million or a land rate of $1,278 psf ppr.”

Of the 270 units sold at Lentor Gardens Residences, some 222 units, or 82.2%, were transacted below $2.5 million, according to URA Realis caveats as of 17 August 2026. This mirrors the broader market in July, with some 422 units, or 58.1% of new private home sales, transacting below the same price point.

“The concentration of sales below $2.5 million indicates a clear sweet spot for buyers. Discerning buyers prioritising value appear most receptive to homes in this price range, and this could serve as an important reference point for developers pricing upcoming mass-market projects islandwide,” said Chu.

Positive Reception for Dunearn House as Maiden Launch in Turf City Precinct

The 380-unit Dunearn House was one of two condominiums launched in July, with 212 units sold, indicating a take-up rate of approximately 56%. 

The new condominium’s proximity to Sixth Avenue MRT station adds to its appeal to buyers. Another selling point of Dunearn House is its location in the prestigious District 11.

“Dunearn House is set within an established Bukit Timah residential ecosystem, offering buyers first-mover exposure to Bukit Timah Turf City’s longer-term transformation. This combination of existing locational attributes, address prestige, and future growth potential could explain the robust demand from buyers,” said Chu.

Bukit Timah has long been an education belt, which boosts the appeal of homes in the area. A selling point of Dunearn House would be its proximity to numerous popular schools. 

The condominium is within a 2 km radius of several popular schools, including Raffles Girls’ Primary School, Methodist Girls’ School (Primary and Secondary), Nanyang Girls’ High School, Hwa Chong Institution (Secondary and Junior College), and National Junior College (Secondary and Junior College). 

“Given the demand from families with school-age children, it is hardly surprising that the three-bedroom units in Dunearn House have been in strong demand. Of the 96 three-bedroom units, only 13 remain available, indicating a take-up rate of about 86.5% (83 units).”

Absence of New Launches Keeps EC Sales Muted

New EC sales remained tepid in July, with just 27 units sold, broadly in line with last month's 28 units, amid a dearth of new projects. 

This marks the fourth consecutive month of relatively flat sales, as remaining EC inventory has been gradually absorbed amid a lack of new launches. However, a turnaround could be on the cards by year’s end, with the anticipated launch of Wynwood Grand in Woodlands in 4Q 2026.

As Woodlands’ first EC launch since Northwave’s debut in 2016, the project could tap into pent-up demand from upgraders waiting on the sidelines. 

“Wynwood Grand is also among the final five projects under the previous EC rules, allowing buyers to benefit from a shorter MOP and the Deferred Payment Scheme. Second-timers will also be eligible to purchase new units after the one-month priority period for first-timers,” said Chu.

Locals Continue to Dominate New Private Home and Luxury Sales 

Singaporeans continued to dominate new non-landed private home sales (excluding ECs) in July. According to URA caveats data as at 17 August 2026, they accounted for 87.5% of transactions, or 635 units. PR buyers accounted for a further 10.9%, with 79 transactions recorded during the month.

“Foreign demand remains subdued, with the 60% ABSD rate continuing to be a significant hurdle for non-local buyers. While foreigner transactions rose from two in June to 12 in July, their share of monthly sales was 1.7%, in line with the 2.0% average for the first half of 2026.”

Local and PR buyers remained the mainstay of the luxury home segment priced at $5 million and above, accounting for 11 transactions, with six purchases by Singaporeans and five by PRs. 

Foreign buyers accounted for four luxury transactions (priced at $5 million or more). This includes July’s priciest new non-landed private home, a 2,949 sq ft unit on the 54th floor of Skywaters Residences, which sold for $17.3 million or $5,880 psf.

“In the landed segment, the priciest new home sold in July was a semi-detached house on Hillcrest Road, which fetched $14.1 million from a Singaporean buyer. A new detached house on Jalan Tua Kong followed closely at $13.8 million, with the buyer also a Singaporean.”

Looking Ahead

Earlier this month, the Ministry of Trade and Industry (MTI) revised its GDP growth projection upwards to 4.5% to 5.5%, up from the previous 2% to 4%. MTI said the upward revision reflects an improved outlook for the second half of the year, driven by AI-related capital expenditure. Additionally, the economic impact of the ongoing conflict in the Middle East has been less severe than expected. For 1H 2026, Singapore’s GDP grew by 6.1% y-o-y. 

The brighter outlook for 2H 2026 is expected to lift business sentiment. Likewise, the outlook for the real estate sector is expected to remain positive, supported by a robust pipeline of new condominium launches and continued resilient buyer demand.

We are likely to see a dip in developer sales in August, as no new condominium launches are expected. Developers tend to avoid launching new projects during the seventh lunar month. However, activity is expected to pick up in September with the launches of The Serra Residences and Lucerne Grand.