Developer Sales Pick Up in July With 731 New Homes Sold, Mainly From Two Launches

Dunearn House, the first private residential project in the Bukit Timah Turf City precinct, sold 212 of its 380 units, or 56 per cent, over its launch weekend on 25 and 26 July. The 99-year leasehold District 11 project, jointly developed by Frasers Property, CSC Land Group and Sekisui House, went at an average price of S$3,140 per square foot.

Christine Sun, chief researcher and strategist at Realion Group, said buyer confidence in Dunearn House was supported by the precinct’s development plans, proximity to the Sixth Avenue MRT station and the upcoming Turf City MRT station, and the visible transformation of the enclave, anchored by the completion of Lentor Modern and its integrated mall.

Meanwhile, Lentor Gardens Residences sold 270 of its 499 units, or 54 per cent, over its launch weekend on 18 and 19 July at an average of about S$2,350 psf. The Kingsford Group project is the seventh new launch in the Lentor Hills estate. More than 80 per cent of the units sold were priced below S$2.5 million.

Excluding ECs, the Outside Central Region accounted for the bulk of July’s sales with 334 units sold against 542 units launched, making up 45.7 per cent of the month’s total. The Core Central Region made up 32.1 per cent of new sales, with developers moving 235 units against 270 units launched.

The Rest of Central Region was the outlier, with developers selling 162 units, or 22.2 per cent of the total, against just 77 units launched. This indicates that buyers were also picking up unsold stock from earlier launches such as Union Square Residences, Hudson Place Residences and One Marina Gardens.

Singaporeans accounted for 87.6 per cent of purchases in July, with permanent residents taking a further 10.7 per cent. Foreigners bought just 12 new homes, or 1.6 per cent of the total. Eight of those were above S$2.5 million, among them a 2,949 sq ft unit at Skywaters Residences that sold for S$17.3 million.

Excluding ECs, new private home sales for the first seven months of 2026 stand at 4,894 units, against 4,163 units in the first half and 4,587 units in the first half of 2025. Developers launched 889 units in July against zero in June, a first since records began in 2007.

August sales are expected to taper off as both buyers and developers hold off during the Hungry Ghost Festival season. Still, Mohan Sandrasegeram, head of research and data analytics at SRI, said the market is well-positioned for a pickup after that, with fresh launches including Lucerne Grand, Thomson Reserve and The Serra Residences expected to drive activity.

However, Leonard Tay, head of research at Knight Frank Singapore, warned that uncertain job security could dilute homebuyer sentiment “with caution and tentativeness in the months ahead and into 2027”, citing the rapid impact of AI in the professional and knowledge-based industries.

CBRE Research expects 7,500 to 8,500 new homes to be sold this year, noted Tricia Song, CBRE’s head of research for Singapore and South-east Asia, pointing to healthy household balance sheets, a low unemployment rate and low mortgage rates. For the full year, Huttons expects developers to launch up to 7,000 private homes, the lowest since 2023, with transactions of 7,500 to 9,000 units and prices rising 2 to 5 per cent.