According to URA data, developers sold just 246 new private homes in February 2026. That's an 85% plunge from the 1,597 units moved in February 2025, and a 47% drop from January's 466 units. Those numbers look alarming on the surface. But if you dig into the data, the story isn't about collapsing demand. It's about a temporary supply vacuum that's already filling back up.
Here's what the February numbers actually tell us, what's coming next, and how you can use this market moment to your advantage.
What Happened in February 2026: The Numbers
Developers sold 246 new private homes (excluding executive condominiums) in February 2026, according to URA data. Including ECs, the total was 266 units. Here is the breakdown by region.
Core Central Region (CCR): 63 Units
CCR sales dropped 61% from 162 units in January. Newport Residences on Anson Road led the pack with 32 units at a median price of $3,059 psf.
Rest of Central Region (RCR): 103 Units
RCR sales dipped 15% month-on-month. Pinetree Hill and One Marina Gardens were the top performers. The most expensive transaction of the month was a 4,833 sq ft unit at Union Square Residences, which went for $18.5 million.
Outside Central Region (OCR): 80 Units
OCR sales fell from 183 in January. Chuan Park moved 14 units and Narra Residences sold 12.
Executive Condominiums: 20 Units
Just 20 EC units changed hands, compared to 524 in January when Coastal Cabana EC's launch drove a surge.
For the year to date, developers have sold 712 new private homes (excluding ECs) across January and February 2026.
Who Was Buying?
Singapore citizens made up 86.5% of non-landed new home buyers in February, according to URA data. Permanent residents accounted for 10.2%, while foreigners represented just 3.3%, or only eight units in absolute terms.
An interesting shift happened in the price mix. In January, about 66% of transactions were below $2.5 million. In February, that proportion dropped to around 42%, reflecting the fact that most available inventory was in the CCR and RCR segments rather than more affordable OCR launches.
Why Did Sales Fall? A Supply Gap, Not a Demand Problem
The February dip comes down to two factors, and neither of them is weakening buyer appetite. Only 15 new units hit the market in February (from Pollen Collection II), compared to 786 units launched in January. When there's barely any new product to sell, sales numbers naturally drop.
Factor 1: Almost nothing launched. You can't buy what isn't there. The 15 units launched in February represent a 98% drop from January's 786 units. With virtually no new inventory available, the monthly sales figure was always going to look weak.
Factor 2: Chinese New Year. The festive period slowed showroom traffic and transaction activity across the board. This happens every year. It's seasonal, not structural.
The proof that demand remains strong? Look at what happened the moment new supply returned.
River Modern Just Proved the Market Is Alive
GuocoLand's River Modern launched on March 7-8 and sold 410 of its 455 units (90%) over a single weekend at an average price of $3,266 psf. That is more units sold in two days than the entire month of February.
The 99-year leasehold development on River Valley Green in District 9 drew over 1,000 cheques during its preview phase, roughly two interested buyers per unit. Prices ranged from $1.548 million for a two-bedroom to $6.722 million for a four-bedroom, with the highest transacted price hitting $3,693 psf.
ERA CEO Marcus Chu called it "possibly the best-selling project launch weekend seen in the River Valley area."
That kind of result doesn't happen in a weak market. As we noted in our analysis of Singapore's safe-haven fundamentals, the underlying demand drivers remain firmly in place heading into 2026.
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Try PropPal for .50/day 7-day trial. Setup takes 5 minutes. Cancel anytime.Newport Residences: February's Quiet Star
While River Modern grabbed the March headlines, Newport Residences by CDL was the standout performer throughout January and February. The freehold development on Anson Road sold 140 units (57%) on its opening weekend on January 31 at an average of $3,370 psf, according to CDL. By the end of February, roughly two-thirds of its 246 units had been sold.
What makes Newport notable for agents: it's the first freehold mixed-use development under URA's CBD Incentive Scheme and Singapore's first private residence to receive the BCA Green Mark Platinum Super Low Energy certification. These are selling points that matter to today's buyers, especially owner-occupiers who made up the majority of purchasers.
What's Launching Next: Your Pipeline Preview
March and Q2 are shaping up to be packed with launches. Here are the projects you should be preparing for right now.
Rivelle Tampines EC (572 Units)
Developed by Sim Lian Group, this EC on Tampines Street 95 opened for preview on March 6 with booking day set for March 21. It's a five-minute walk from Tampines West MRT (Downtown Line) and sits in the sweet spot for HDB upgraders. An estimated 6,200 HDB flats in Tampines are reaching MOP between 2024 and 2026, according to StackedHomes data. The unit mix skews heavily toward families, with three-, four-, and five-bedroom configurations making up the entire project. Read our full Rivelle Tampines EC agent guide for pricing, eligibility, and competitive positioning.
Pinery Residences (588 Units)
Jointly developed by Hoi Hup Realty and Sunway Developments, this integrated development at Tampines Street 94 opened for preview on March 14 and attracted over 8,500 visitors in its first weekend, according to PropertyGuru. Starting from $1.498 million, it connects directly to Tampines West MRT and includes an 11,300 sqm commercial mall. VIP booking is March 27, with public booking on March 28. Check out our Pinery Residences agent guide for the full breakdown.
More Launches Ahead in Q2 and Q3
We're tracking the full pipeline of upcoming projects for agents. Our detailed breakdown, "New Condo Launches Q2-Q3 2026: The Agent's Cheat Sheet," drops in a couple of days. It will cover every confirmed and expected launch with pricing guidance, target buyer profiles, and key selling points so you can hit the ground running.
The Bigger Picture: Why 2026 Still Looks Strong
If you zoom out from February's quiet month, the fundamentals backing Singapore's private home market are solid. Here are the key data points worth knowing.
Tight unsold inventory. There were 14,859 unsold, uncompleted private homes in the pipeline at the end of Q4 2025, the lowest level in 15 quarters, down 12.7% from the previous quarter, according to ERA research. Based on the 10-year average of roughly 9,100 developer sales per year, the current unsold stock could be absorbed in about two years. Low supply supports pricing power.
Record-high prices with moderate growth. Private home prices rose 3.4% for the full year of 2025, the slowest pace since 2020 but still marking the ninth consecutive year of record highs according to URA data. Analysts expect another 2% to 5% growth in 2026.
Strong 2025 sales momentum carrying over. Developers sold 10,757 new private homes (excluding ECs) in 2025, 66.3% more than the 6,469 units in 2024. Multiple Q4 2025 launches achieved over 80% take-up on opening day.
Healthy full-year forecasts for 2026. PropNex projects 8,000 to 9,000 new home sales (excluding ECs), likely toward the upper end. ERA forecasts 9,000 to 10,000 units. PropNex estimates about 8,800 private homes from 23 projects, plus five EC projects with around 2,300 units, could be launched this year.
Supportive macro conditions. A tight labour market, moderate interest rate environment, and long-term economic fundamentals continue to underpin demand. The easing of borrowing costs has created what several analysts describe as a "window of opportunity" for buyers, particularly HDB upgraders looking to enter the private market.
Build Your Pipeline Before the Launches Drop
Quiet months like February are when the best agents line up their leads. PropPal helps you manage every WhatsApp conversation so you're ready when the next wave hits.
Try PropPal for .50/day 7-day trial. Setup takes 5 minutes. Cancel anytime.Frequently Asked Questions
Why did Singapore new home sales drop so sharply in February 2026?
Developers sold only 246 new private homes in February 2026 because almost no new projects launched during the month. Only 15 units from Pollen Collection II launched, compared to 786 units launched in January. The Chinese New Year festive period also slowed activity. The decline reflects a temporary supply gap, not weakening demand.
Is the Singapore property market slowing down in 2026?
No. The February dip was driven by a lack of new launches, not buyer hesitation. River Modern's launch in early March sold 90% of its 455 units in a single weekend, and Pinery Residences attracted over 8,500 visitors to its preview. Industry forecasts project 8,000 to 10,000 new home sales for full-year 2026, supported by low unsold inventory and moderate price growth.
What are the upcoming new condo launches in Singapore for 2026?
Key upcoming launches include Rivelle Tampines EC (572 units, booking day March 21), Pinery Residences (588 units, booking day March 28), and several more projects expected in Q2 and Q3 2026. PropNex estimates about 23 private projects and five EC projects could launch throughout the year.
How much are new private home prices in Singapore in 2026?
Prices vary significantly by location. In the Core Central Region, recent launches like River Modern transacted at an average of $3,266 psf, while Newport Residences averaged $3,370 psf. In the Outside Central Region, upcoming projects like Pinery Residences start from $1.498 million. Analysts forecast overall private home prices to grow 2% to 5% in 2026.
What is the current ABSD rate for property buyers in Singapore?
The Additional Buyer's Stamp Duty (ABSD) is a tax imposed on property purchases in Singapore, with rates varying by buyer residency status and number of properties owned. As of 2026, Singapore citizens pay 0% ABSD on their first residential property, 20% on their second, and 30% on their third and subsequent properties. Permanent residents pay 5% on their first, 30% on their second, and 35% on their third. Foreigners pay 60% on any residential property purchase. These rates have been in effect since April 27, 2023.
Key Takeaways
- February's 246 units sold reflects a supply gap (only 15 units launched), not a demand problem
- River Modern's 90% sell-through on launch weekend in March confirms strong buyer appetite
- Unsold private home inventory is at a 15-quarter low (14,859 units), supporting prices
- Multiple major launches are coming in March and Q2, creating fresh pipeline opportunities for agents
- Full-year 2026 forecasts remain healthy at 8,000 to 10,000 new home sales
- Agents who position themselves now on upcoming launches will be ahead when buyer activity accelerates
Sources
- Real Estate Asia - Singapore New Home Sales Fall to 246 Units in February
- Stacked Homes - New Private Home Sales Fell Nearly 50% in Feb 2026
- 99.co - February New Home Sales Ease Amid Festive Lull
- EdgeProp - GuocoLand Sells Over 90% of River Modern on Launch Day
- CDL - Newport Residences Launch Weekend Results
- EdgeProp - Private Home Prices Rise 0.7% in 4Q2025, Full-Year Growth 3.4%
- ERA - 4Q 2025 URA Real Estate Statistics
- PropertyGuru - Pinery Residences Preview
- EdgeProp - Sim Lian to Preview Rivelle Tampines EC
- Bloomberg - Singapore Home Sales Drop
- PropNex - Goldilocks Market Report
- MAS - Property Market Cooling Measures (ABSD Rates)