Q1 2026 Landed Property Transactions See Volume and Price Both Fall

A total of 418 landed homes changed hands in the first three months of 2026, down from 482 units in Q4 2025 and also slightly below the year-ago figure of 431 units (a 3 per cent decline year-on-year). The quarter-on-quarter drop of 13.3 per cent reflects seasonal softening and buyer caution amid global uncertainties, including the ongoing Middle East conflict that has kept geopolitical risk elevated.

Total transaction value came in at S$2.7 billion, down 3.8 per cent from the previous quarter. However, on a year-on-year basis, total value was up 7.1 per cent, suggesting that while fewer homes are transacting, those that do sell are commanding higher prices. This pattern is consistent with a market where sellers are holding firm on pricing while some buyers step back to wait for clarity on macroeconomic conditions.

Average landed property prices rose 10.9 per cent quarter-on-quarter to S$650 per square foot in Q1 2026. Detached houses saw the largest price swing, surging 15.9 per cent to S$2,069 psf, driven by a handful of ultra-premium transactions in prime districts. The highest transaction of the quarter was a freehold detached villa that sold for S$55 million, while the lowest landed transaction was S$4 million.

Freehold and 999-year leasehold properties accounted for 88 per cent of all landed transactions in Q1, underscoring the strong preference among landed home buyers for perpetual or near-perpetual tenure. This concentration in longer-tenure assets also helps explain the rising average psf, as these properties typically command premium pricing over 99-year leasehold counterparts.

Market watchers are closely monitoring the impact of the Middle East conflict on global commodity prices and interest rates, both of which influence Singapore’s landed property market. Despite the volume decline, the combination of rising average prices and strong year-on-year value growth indicates that the landed segment remains structurally sound, supported by limited supply and persistent demand from high-net-worth buyers.

The landed market’s relative illiquidity compared to the condominium segment means that quarterly volume fluctuations are normal and do not necessarily signal a trend reversal. With 88 per cent of transactions in freehold or 999-year tenure, the market continues to attract long-term holders and generational wealth preservation buyers who are less sensitive to short-term price movements.