Commentary on Monthly New Home Sales for May 2026

By Tricia Song (宋明蔚), Head of Research, Singapore and Southeast Asia, CBRE

Developer sales slumped in May following the yearly high in April on fewer launches. 357 new units were launched in the month, compared to 1,426 units in April. Correspondingly, 447 new private homes were sold, down 71.1% m-o-m from 1,548 units in Apr 2026 but up 43.3% y-o-y from 312 units in May 2025. 

This takes the tally of new sales in the year-to-May to 4,008 units, 8.1% lower than the 4,362 units over the same period in 2025. While 2026 has been off to a rocky start given escalations in the Middle East conflict since 28 Feb, homebuying appetite has remained resilient despite heightened volatility and economic uncertainty amid low mortgage rates and a decent pipeline of attractive new launches.

Top 10 Best-selling Projects in May 2026 (including ECs and landed)

Project Name	Street Name	Tenure	Locality	Units Sold in the Month	Median Price ($psf) in the Month	% of project sold to date
HUDSON PLACE RESIDENCES	MEDIA CIRCLE	99 yrs	RCR	209	$2,465	63.9%
COASTAL CABANA (EC)	JALAN LOYANG BESAR	99 yrs	OCR	29	$1,827	81.4%
THE CONTINUUM	THIAM SIEW AVENUE	Freehold	RCR	19	$2,752	94.5%
UNION SQUARE RESIDENCES	HAVELOCK ROAD	99yrs	RCR	19	$2,800	45.6%
ONE MARINA GARDENS	MARINA GARDENS LANE	99 yrs	RCR	18	$2,976	68.0%
NARRA RESIDENCES	DAIRY FARM WALK	99 yrs	OCR	14	$2,151	34.8%
TENGAH GARDEN RESIDENCES	TENGAH GARDEN AVENUE	99 yrs	OCR	14	$2,230	99.7%
CHUAN PARK	LORONG CHUAN	99 yrs	OCR	13	$2,641	95.2%
BLOOMSBURY RESIDENCES	MEDIA CIRCLE	99 yrs	RCR	13	$2,575	85.8%
RIVELLE TAMPINES (EC)	TAMPINES STREET 95	99 yrs	OCR	13	$1,939	98.6%

Source: CBRE Research, URA

New launches in May 2026

Project Name	Street Name	Tenure	Locality	Total # of units	Units Launched in the Month	Units Sold in the Month	Median Price ($psf) in the Month	Units sold as % of launched
HUDSON PLACE RESIDENCES	MEDIA CIRCLE	99 yrs	RCR	327	327	209	2,465	63.9%

Source: CBRE Research, URA

The top 10 best-selling projects in the month of May were either from the OCR or RCR, including 2 EC developments.    

There was only 1 new launch in May 2026—Hudson Place Residences (327 units) located at Media Circle which was the top-selling private project in the month. The project saw healthy demand due to its attractive pricing relative to previous Media Circle launch, Bloomsbury Residences. 209 units or 63.9% of total units were sold in the month at a median price of $2,465 psf.

EC project, Coastal Cabana (748 units) at Jalan Loyang Besar which launched in Jan 2026 was the second-best performer, moving another 29 units at a median price of $1,827 psf

The third best-selling project was existing freehold project, The Continuum (816 units) which was launched back in May 2023 moved another 19 units at a median price of $2,752 psf and is now 94.5% sold.    

By market segment, May 2026’s developer sales (excluding ECs) were led by the Rest of Central Region (RCR) given the steady take-up at Hudson Place Residences. RCR sales accounted for 334 units or 75% of total May sales, compared to 160 units (10%) in Apr 2026.

• The Outside Central Region (OCR) moved 91 units or 20% of total May sales after 1,358 units (88%) in Apr 2026.
• The Core Central Region (CCR) moved 22 units (5% of total May sales), down from 30 units (2%) in April.

New Home Sales (excl. ECs) by quantum

Source: CBRE Research, URA
*Based on Realis new sales (excl. EC) caveats extracted on 15 Jun 2026. 

Based on quantum size, the largest proportion of new private homes sold (excl. ECs) at 37% was in the S$1.50 – 2.00 mil range mostly from 2BR units sold at new launch Hudson Place Residences.

The $2.50 – 3.00 mil range was second at 18%, followed by the $3.00 – 5.00 mil at 17%.

Outlook and forecasts 

4,008 new homes have been sold for the year-to-May, 8.1% lower than the 4,362 units over the same period in 2025. Homebuying appetite has remained resilient in the year so far despite heightened volatility and economic uncertainty from the Middle East conflict. 

Looking ahead, sales are expected to ease further in June as developers hold back on launches amid the June school holiday lull. However, momentum is likely to pick up again in July alongside announced high-profile launches such as suburban project Lucerne Grand (570 units) at Lakeside Drive and CCR project Dunearn House (380 units), the maiden launch at Dunearn Road which is part of the Bukit Timah Turf City rejuvenation.  

In addition, economic outperformance in Q1 2026 – the quarter recorded 6.0% y-o-y GDP growth, higher than the flash estimate of 4.6% – and positive newsflow on a peace deal between US and Iran on the Middle East front could boost homebuying sentiment in the months ahead. 

Barring major economic shocks, CBRE Research projects that 7,500 – 8,500 new homes will be sold in 2026 given a decent pipeline of attractive new launches, healthy household balance sheets and low mortgage rates. This represents a moderation after above-trend sales of 10,815 units in 2025 and is slightly below the 5-year average (2021 – 2025) of 8,766 units.

Private home prices, which rose 0.9% in Q1 2026 are likely to grow at a stable pace in 2026. CBRE Research forecasts price growth of 2 – 4% in 2026, stable from 2025’s 3.3%.