15 May 2026, Singapore - Sales of new private homes surged to a six-month high in April 2026 as two mass-market new launches supercharged sales. Developers sold 1,548 new homes (ex. Executive Condominiums) during the month, marking a 19% increase from the 1,300 units transacted in March. It is also the highest monthly sales since 2,424 units (ex. EC) were sold in October 2025. On a year-on-year basis, developers' sales more than doubled from the 675 new units shifted in April 2025. Including the transactions done in Q1 2026, developers sold a combined 3,561 new units (ex. EC) in the first four months of this year - about a third of the 10,815 units sold in the whole of 2025.

Two new launches accounted for about 79% of the new homes sales in April. They were Vela Bay and Tengah Garden Residences which represent the first private condo projects launched in new housing precincts Bayshore and Tengah, respectively. During the month, developers placed 1,426 new units (ex. EC) for sale, up by about 37% from the 1,043 units launched in March.

The Outside Central Region (OCR) drove new home sales during the month with 1,358 units (ex. EC) transacted, the highest monthly developers' sales for the sub-market in over a year since 1,469 units changed hands in February 2025, where Parktown Residence had propped up OCR sales then. April's sales were more than two times higher than the 665 units shifted in the previous month. The best-selling OCR projects (see Table 2) in April were Tengah Garden Residences which moved 855 out of its 863 units (99%) at a median price of $2,111 psf, while the 515-unit Vela Bay in Bayshore sold 370 units (72%) at a median price of $2,865 psf when they were launched in the month.

Meanwhile, developers' sales fell in the other two sub-markets due to a lack of new project launches in April. The Rest of Central Region (RCR) saw 160 new sale transactions in April, dipping by about 2% from 163 units sold in March. The top-seller in the RCR was freehold development The Continuum which shifted 34 units at a median price of $2,796 psf. New private home sales have been muted in the RCR for some time now with no new RCR projects being launched since The Sen hit the market in November 2025. To this end, the sales activity could likely pick up in May with the upcoming launch of Hudson Place Residences in Media Circle - the first RCR new launch in 2026.

Over in the Core Central Region (CCR), developers sold 30 new homes, sharply down from the 472 units transacted in March where River Modern had boosted sales. The most popular CCR project in April was River Modern which sold 11 units at a median price of $3,363 psf. Meanwhile, the top three priciest new private homes sold in the month were two units at 21 Anderson which had fetched $22.5 million and $21.9 million respectively, and a unit at Skywaters Residences which was sold for about $12.5 million, based on caveats lodged.

In the EC segment, developers sold 101 new units, significantly lower than the 637 units shifted in March where Rivelle Tampines was launched. In April, the top-selling EC project was Rivelle Tampines which sold 76 units at a median price of $1,918 psf when sales booking opened to more second-timer buyers after the lapse of the month-long priority period for first-time buyers.

Ms Wong Siew Ying, Head of Research and Content, PropNex said:

"April's rebound in new home sales to a six-month high reflects resilient underlying private housing demand, supported by healthy take-up at projects such as Tengah Garden Residences and Vela Bay. The strong take-up at both projects also underscored the robust buying interest for projects that offer a compelling mix of good transport connectivity, first-mover advantage, and potential growth benefits as the two new housing precincts - Tengah and Bayshore - are set to be transformed over time. Mixed-use development Tengah Garden Residences is steps from the future Hong Kah MRT station, while Vela Bay is next to the Bayshore MRT station.

Based on URA Realis caveat data, about 87% of units sold at Tengah Garden Residences in April were priced at below $2.5 million, while the proportion of such sales at Vela Bay was around 66% (see Table 1). The transacted prices at Tengah Garden Residences in April ranged from $980,000 for a 484-sq ft unit on the second storey to $2.92 million for a 1,249-sq ft unit on the 15th floor. At Vela Bay, the most expensive unit sold in the month was a 1,765-sq ft unit on the 31st storey for about $5.83 million, while the lowest transacted price was for a 5th floor unit spanning 484 sq ft for about $1.25 million.

Table 1: Proportion of units sold at new launches in April 2026 by price range

In our view, the near sell-out of Tengah Garden Residences when it was launched reflects healthy owner-occupier and upgrader demand for well-priced suburban homes in an emerging neighbourhood, while Vela Bay's strong 72% take-up - despite its firm average pricing for an OCR project at more than $2,800 psf during its launch - suggests that many buyers may be willing to accept higher price points when the pricing is supported by attractive locational attributes and easy MRT access. Additionally, it also points to healthy household balance sheets, and ample liquidity in the market.

Of note, MRT proximity is increasingly shaping both downstream buyer demand and upstream land bidding behaviour among developers. Given the robust sales at well-connected projects of late, it may boost developers' confidence at land tenders for sites near to MRT stations, which may potentially create a positive feedback loop should the land bidding interest leads to firmer land bid prices, and in turn may put upward pressure on future selling prices.

New home sales continue to be driven predominantly by the local market. In April, Singaporean buyers made up about 88.9% of the new non-landed private home transactions (ex. EC), followed by Singapore permanent residents (PR) at 9.6%. Meanwhile, foreigners (non-PR) accounted for 1.5% of the sales, representing 23 transactions in absolute terms, as per caveats lodged. They comprised six transactions each at Tengah Garden Residences and Vela Bay, four transactions at River Modern, three at One Marina Gardens, and one each at Bloomsbury Residences, ELTA, Newport Residences, and The Myst.

We expect developers' sales could likely moderate in May owing to limited major project launches, with just the 327-unit Hudson Place Residences lined up. In Q3 2026, several upcoming projects - including Lentor Garden Residences and Dunearn House - could likely hit the market."

Table 2: Top-Selling Private Residential Projects (ex. EC) in April 2026