-- Developer sales gained some momentum in September following a two-year low monthly sale in August. 296 new private homes were sold, up 93.5% m-o-m from the low base of 153 units in Aug 2026.
September sales take the tally of new sales in 9M 2026 to 5,334 units, 32.3% below the 7,875 units sold over the same period in 2025. We believe new home sales have slowed due to lack of new launches as well as the high price points. Buyers are getting more selective in view of global economic uncertainty and rising interest rates. Lucerne Grand reportedly sold 350 units or 61% of its 570 units during its launch weekend in early October. The next big launch Thomson Reserve (1,268 units) which has attractive locational attributes and has been keenly awaited by buyers, will test the appetite and pricing threshold of buyers when it opens for sale by end of October.
Top 10 Selling Projects in September 2026 (including ECs and landed)
Source: CBRE Research, URA
New launches September 2026
Source: CBRE Research, URA
There were 2 new launches in September following the 7th Lunar month which ended on 10 September. 999-year OCR landed project Luxus Hills (156 units) located in Seletar and CCR condo project Amberwood at Holland (212 units).
Both launches were met with relatively muted response – Luxus Hills launched 65 units and sold 18 units, while Amberwood launched 70 units and sold 24 units.
The top seller of the month was freehold project, Terra Hill (270 units) which was launched in Feb 2023. After offering some 15-18% discounts, 32 more units were sold at a median price of $2,209 psf in September, bringing the project’s overall take-up to 92%. This price compares with $2,699 psf median price when 97 units were sold during its launch in Feb 2023.
The second best-selling project of the month was The Sen (347 units) which also launched in Nov 2025. 25 more units changed hands at a median price of $2,386 psf and the project was 52% sold as of September.
In third place was new launch Amberwood at Holland (212 units) which sold 24 units or 11% of its total units at a median price of $3,021 psf.
By market segment, September 2026’s developer sales (excluding ECs) were led by the Rest of Central Region (RCR), accounting for 131 units or 44% of total September sales, compared to 72 units (47%) in Aug 2026.
- The Outside Central Region (OCR) moved 125 units or 42% of total September sales after 57 units (37%) in Aug 2026.
- The Core Central Region (CCR) moved 40 units (14% of total September sales), up from 24 units (16%) in August.
New Home Sales (excl. ECs) by quantum
Source: CBRE Research, URA
Based on Realis new sales (excl. EC) caveats extracted on 15 Sep 2026.
Based on quantum size, the largest proportion of new private homes sold (excl. ECs) at 30% was in the S$3.00 – 5.00 mil range as buyers scooped up larger 4 and 5-bedders from existing launch Terra Hill and new launch Amberwood at Holland.
The $2.50 – 3.00 mil range was second at 21%, followed by the $2.00 – 2.50 mil bracket at 16%.
Outlook and forecasts
September sales take the tally of new sales in 9M 2026 to 5,334 units, 32.3% below the 7,875 units sold over the same period in 2025 amid fewer launches, higher price points and demand normalisation following 2025's 4-year sales high.
Looking ahead, sales momentum is expected to pick up more significantly in Q4, led by the highly anticipated launch of Thomson Reserve (1,268 units) in October, which could unlock pent-up demand.
Barring major economic shocks, CBRE Research projects that 7,500- 8,000 new homes will be sold in 2026 given healthy household balance sheets, low unemployment rate, and low mortgage rates. This represents a moderation after above-trend sales of 10,815 units in 2025 and is below the 5-year average (2021 – 2025) of 8,766 units.
Private home prices have risen 2.8% in 9M 2026 based on Q3’s flash estimate are expected to close the year at the higher bound of our forecasted 2 – 4% full-year growth forecast.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at https://www.cbre.com/.
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