Up to 16,800 New Private Homes Could Launch in 2027, Yet Analysts Still Expect New Launch Prices to Rise 3% to 5%
About 30 private projects with some 16,800 homes, including five executive condominiums, could be launched in 2027, according to Huttons. Excluding ECs, that is about 14,800 units, the most since 2013. Even so, analysts expect overall new launch prices to climb another 3% to 5%, because land costs have risen sharply and most of the new supply will be in the Outside Central Region.
Possible New Homes in 2027
Rise in OCR Land Prices Since 2024
Forecast OCR New Launch Psf, 2027
Private Homes Due for TOP in 2027
Why More Supply Has Not Pulled Prices Down
Land supply has increased, but so have bids. Based on Huttons data compiled for the report, the average land price for OCR sites rose from about S$866 psf per plot ratio in 2024 to S$1,153 in 2025 and about S$1,275 so far this year, an increase of 47% in three years. Rest of Central Region land rose 33% over the same period to about S$1,511 psf ppr, while Core Central Region land rose 19% to about S$1,678.
Two eastern OCR sites illustrate the trend. In September, an OCR site drew a top bid of S$1,537 psf ppr, beating the previous OCR record of S$1,388 set by the Bayshore Road site where Vela Bay is being built. In July, a large two-use site at Bayshore Drive drew a top bid of about S$2.13 billion, or S$1,323 psf ppr. Analysts expect new homes on these sites to be priced at S$2,900 to S$3,200 psf.
New Launch Prices by Region
Average new launch prices per square foot, with the 2027 forecast from Huttons:
| Region | 2024 | 2025 | 2026 (to 19 Oct) | 2027 forecast |
|---|---|---|---|---|
| Core Central Region | S$3,120 | S$3,090 | S$3,200 | S$3,300 (+3.1%) |
| Rest of Central Region | S$2,644 | S$2,771 | S$2,850 | S$2,950 (+3.5%) |
| Outside Central Region | S$2,242 | S$2,263 | S$2,300 | S$2,400 (+4.3%) |
Source: Huttons data as reported by Lianhe Zaobao. Figures are rounded and may change.
About 57% of next year’s new supply, or some 8,424 units, is expected in the OCR, with 3,434 units (23%) in the RCR and 2,943 units (20%) in the CCR. This year, 61% of new launches were in the OCR, which helped keep the overall rise in new launch prices to an estimated 1% to 2%.
Will Mass-Market Homes Cross S$3,000 Psf?
Views differ. Some analysts say individual OCR projects could reach S$3,000 psf, but expect few such sales in the next two years. Another analyst does not expect OCR prices to cross S$3,000 psf next year at all, and warns that new cooling measures, a stock market fall or a sharp rise in interest rates could change the picture.
The resale market adds more choice. URA data shows about 8,888 private homes (excluding ECs) will be completed next year, 14% more than the 7,783 this year, and resale volumes are forecast at about 14,000 to 15,200 units. With the 15-month wait-out period now lifted, more private owners may sell and move to HDB resale flats, adding to resale supply.
Frequently Asked Questions
How many new private homes could be launched in 2027?
About 16,800 units in some 30 projects, including five ECs, based on Huttons estimates. Excluding ECs, about 14,800 units.
Where will most of the new supply be?
In the Outside Central Region, with about 8,424 units or 57% of the total.
What is the forecast for new launch prices next year?
Huttons expects overall new launch prices to rise about 3% to 5%, with OCR projects averaging about S$2,400 psf.
Why are prices still rising with more supply?
Developers paid much more for land: OCR land prices are up about 47% since 2024, and that cost flows into launch prices.
Choosing between a 2027 launch and a resale condo?
I can compare new launch and resale prices in the estates you are considering, with an indicative valuation of your current home.