Developers Sell 1,548 New Private Homes in April 2026, Hitting a Six-Month High on Tengah and Vela Bay Launches

The two star launches accounted for the bulk of April’s volume. Tengah Garden Residences, the first private condominium launched in the Tengah planning area, neared sell-out with 855 units transacted at a median price of $2,111 psf. Vela Bay, the first private residential project in the Bayshore precinct, recorded a 72 per cent take-up rate with 370 units sold at a median price of $2,865 psf, setting a new price benchmark for the Outside Central Region.

Together, the two projects notched more than 1,220 units in sales over their launch weekends. Marcus Chu, CEO of ERA Singapore, said the results reflect continued buyer appetite in the OCR, particularly for developments that are well-positioned in terms of location and value proposition.

Wong Siew Ying, PropNex head of research and content, noted that about 87 per cent of units sold at Tengah Garden Residences and 66 per cent of those at Vela Bay were priced up to $2.5 million, pointing to healthy household balance sheets and ample liquidity in the market.

Tengah Garden Residences led the table with 855 units at a median of $2,111 psf, followed by Vela Bay with 370 units at $2,865 psf. The remainder of the top 10 saw far smaller volumes: Narra Residences (34 units, $2,196 psf), The Continuum (34 units, $2,796 psf), One Marina Gardens (26 units, $2,979 psf), Bloomsbury Residences (17 units, $2,571 psf), Arina East Residences (15 units, $2,838 psf), Pinery Residences (12 units, $2,583 psf), The Sen (12 units, $2,316 psf) and Elta (11 units, $2,555 psf).

City-fringe projects in the Rest of Central Region accounted for 10.3 per cent of primary sales, while the Core Central Region made up just 1.9 per cent of new sales in April.

The median price of non-landed new sales in April was $2,210 psf, 24.8 per cent higher than the median resale price of $1,771 psf. Leonard Tay, head of research at Knight Frank Singapore, said the bifurcation between new launch prices and existing completed inventory will continue to prevail.

Transacted prices at Tengah Garden Residences ranged from $980,000 for a 484 sq ft unit on the second floor to $2.9 million for a 1,249 sq ft unit on the 15th floor. At Vela Bay, the most expensive unit sold was a 1,765 sq ft apartment on the 31st storey at about $5.8 million, while the lowest transacted price was about $1.3 million for a 484 sq ft unit on the fifth floor.

Wong Siew Ying at PropNex noted that robust sales at well-located projects could boost developers’ confidence at upcoming land tenders, leading to firmer land bid prices and higher future selling prices.

A total of 101 EC units were sold in April at a median price of $1,905 psf. Mark Yip, CEO of Huttons Asia, noted that the second balloting for Rivelle Tampines EC saw overwhelming interest from second-timers, and that all remaining units in the project were taken up last month.

In early May, the government tightened restrictions on EC housing projects with a longer minimum occupation period of 10 years (up from five), removal of the deferred payment scheme, and higher allocation and longer priority period for first-timers.

Yip said the new EC policy is likely to result in remaining unsold EC units becoming sought after among second-timers, adding that there is a possibility the 162 unsold units across existing projects may be fully sold before the end of 2026.

New home sales are expected to ease in May due to fewer major launches. Tricia Song, head of research for CBRE Singapore and South-east Asia, pointed to Qingjian Venture’s 325-unit Hudson Place Residences in the one-north district as the only major launch this month.

Knight Frank’s Tay said buyers are cognisant that interest rates could rise in the near future, creating a window of opportunity to secure a new home at current benign borrowing levels. He added that developers would also be keen to keep the launch pipeline moving, while keeping an eye on global uncertainty and looking out for unexpected shocks such as open conflict that could derail buyer sentiment.

In the first four months of 2026, developers transacted a total of 3,561 units including ECs, down 12 per cent from 4,050 units moved in the same period of 2025.