1H 2026 Luxury Homes Report: New High in Luxury Home Transactions Underscores Singapore’s Safe Haven Appeal

In 1H 2026, sales of luxury non-landed private properties priced at $5 million and higher hit a four-year high with 322 units sold. Beyond marking the highest volume of luxury homes sold since 2H 2021 (370 units), this robust performance also reflects sustained buyer interest within the segment, driven by Singapore’s safe-haven status and its resulting appeal amongst well-heeled Singaporeans and Permanent Residents. 

Chart 1: Volume of non-landed private luxury home transactions (priced $5M and above)

With 1H 2026 included, this figure represents the fourth straight increase in luxury private home transactions across a half-yearly period since 2H 2024. Momentum in the segment has held strong despite a muted foreign buyer presence, which has persisted since the 60% Additional Buyer’s Stamp Duty (ABSD) rate for foreigner purchases was implemented in 2023.

Singapore’s safe-haven reputation remains a key draw for luxury homebuyers

Following a quieter first quarter with 5,413 units sold overall, total private home sales rose 13.6% quarter-on-quarter (q-o-q) in 2Q 2026 to 6,148 units across the new sale, resale, and sub-sale segments. 

Overall market activity over these periods was supported by favourable conditions that strengthened homebuying sentiment, with interest rates then bottoming out and Singapore’s full-year economic growth forecast upgraded to 4.5% - 5.5%. Concurrently, persistent geopolitical volatility helped reinforce Singapore’s safe-haven appeal, encouraging more high-net-worth individuals (HNWI) to seek shelter in premium real estate for investment and wealth preservation. 

Chart 2: Luxury and ultra-luxury home transactions

Together, these factors helped lift luxury non-landed residential sales by 8.4% compared to the preceding half-year period, with such transactions rising from 297 deals in 2H 2025 to 322 in 1H 2026.

Based on URA caveats data, 44 ultra-luxury transactions were also recorded in 1H 2026, representing a 46.7% increase from the 30 non-landed private homes sold for $10 million or more in 2H 2025. This figure also represents the highest half-year total since 1H 2021, when 69 such homes changed hands.[EC1] 

Table 1: Top 10 non-landed private residential transactions by price, 1H 2026

Districts 9, 10 and 15 Lead in Luxury Home Transactions for 1H 2026 

Chart 3: Luxury home transaction share across postal districts in 1H 2026 (new sale, resale and sub-sale)

Luxury home transactions in 1H 2026 were mostly concentrated in Districts 9, 10 and 15, which accounted for approximately 28.8% (92 deals), 37.2% (119 deals) and 16.3% (52 deals) of the total, respectively.

Projects in Districts 9 and 10 have continued to draw strong interest from HNWI buyers, offering not just coveted prime addresses, but also larger homes with generous floor plates. Notably, River Modern, a new launch that debuted in February this year, accounted for the highest volume of luxury home sales in 1H 2026, with 44 deals recorded.

Located in the prime River Valley enclave, the project is within walking distance of Great World MRT station and Robertson Quay’s waterfront lifestyle belt. Orchard Road is also just two MRT stops away, while Raffles Place and Marina Bay can be reached within five to 10 minutes by road or rail. These attributes likely positioned River Modern as an attractive option in the eyes of HNWI buyers looking for centrally-located residential assets for wealth preservation.

Table 2: Top 10 non-landed private developments for luxury home sales, 1H 2026

District 15 saw two developments emerge among the top performers in the luxury home segment for 1H 2026. Both Grand Dunman and The Continuum in the Rest of Central Region recorded 12 transactions exceeding the $5 million mark, all involving new home sales. 

Affluent buyers may have been drawn to the value proposition offered by these larger city fringe homes. At Grand Dunman, unit prices for luxury homes transacted in 1H 2026 ranged from $2,249 psf - $2,475 psf, while those at The Continuum fetched between $2,690 psf - $3,007 psf. These price points allowed purchasers to secure homes of between 1,700 and 2,600 sq ft, which would likely command higher overall quantum prices in prestigious prime districts. 

Singaporeans account for majority of luxury home sales in 1H 2026 

Local demand continued to anchor the luxury home segment in 1H 2026, with Singaporeans being responsible for 191 transactions or 59.3% of total sales volume. Singapore Permanent Residents (PRs) contributed another 100 deals (31.1 per cent), whereas foreign purchases remained subdued at 30 transactions (9.3 per cent) alongside one corporate buy.

In the absence of strong foreign participation following the April 2023 ABSD hikes, local buyers have filled the gap left in the luxury residential market. Purchases made by Singapore Citizens have seen a sustained rise in absolute numbers, rising from 80 deals in 1H 2024 to 191 in 1H 2026. 

The priciest luxury home transaction for 1H 2026 was also made by a Singaporean, who paid $37 million for a 6,232.36 sq ft unit at The Marq on Paterson Hill.

Conclusion

Table 3: Existing and upcoming launches with luxury home opportunities

For the foreseeable future, Singapore’s luxury residential market is poised to remain well-supported. Heightened economic and geopolitical uncertainties globally have led HNWIs to double down on wealth preservation, bolstering demand for prime real estate assets in stable, neutral financial hubs like Singapore. 

At the same time, Singapore’s growing concentration of family offices, financial institutions and technology companies should also continue to underpin this demand. Similarly, the continued release of prime residential land through the GLS programme alongside en-bloc redevelopments should ensure a steady stream of fresh luxury stock to meet ongoing demand from wealthy buyers. 

Barring any unforeseen circumstances or regulatory adjustments, such as the implementation of an inheritance or wealth tax, underlying demand for the luxury home segment is expected to remain resilient.