New private home sales slow in August 2026 amid launch lull and Hungry Ghost Month

New private home sales slowed in August 2026 as developers held back major launches during the Lunar seventh month.

Developers sold 153 new private homes, excluding executive condominiums (ECs), down 79.1 per cent from 731 units in July. Sales were also 92.9 per cent lower than the 2,142 units recorded in August 2025.

This was the lowest monthly sales volume since February 2024, when developers also sold 153 units. Including ECs, total developer sales fell from 758 units in July to 171 units in August.

According to Luqman Hakim, Chief Data & Analytics Officer at 99.co, the steep decline does not necessarily point to a sudden loss of buyer interest. Instead, it largely reflects how few new homes entered the market during the month. August also overlapped with the Hungry Ghost Month, which runs from Aug 13 to Sept 10 in 2026 and is traditionally a quieter period for major purchases.

Why did sales fall in August?

Only 116 private homes were released for sale in August, down from 889 units in July. All 116 came from a later sales phase at Union Square Residences in the Rest of Central Region (RCR).

No units were released in the Core Central Region (CCR) or Outside Central Region (OCR), and there was no brand-new project launch during the month.

July, by comparison, benefited from several launches. Lentor Gardens Residences and Dunearn House alone sold 270 and 212 units respectively during the month, giving buyers far more new options across different parts of Singapore.

Luqman added that new launches tend to generate the strongest burst of transactions. As a result, monthly developer sales can vary considerably depending on when projects enter the market.

Which market segment recorded the most sales?

Developers recorded 72 new home sales in the RCR in August, down 55.6 per cent from 162 units in July. Of these, The Sen accounted for 12 transactions at a median price of $2,305 psf, while Union Square Residences recorded 10 transactions at a median of $2,762 psf.

Meanwhile, developers sold 57 new homes in the OCR, down 82.9 per cent from 334 units in July. Lentor Gardens Residences accounted for 15 of the transactions, at a median price of $2,367 psf. This followed the 270 units sold at the project in July, when it launched.

The CCR recorded 24 sales, down 89.8 per cent from 235 units in the previous month. Dunearn House accounted for 18 of these transactions, or 75 per cent of the CCR total, at a median price of $3,008 psf.

Existing projects also saw fewer buyers

The lack of major launches explains much of August's decline, but it was not the entire story. Sales also eased among projects that did not release units during the month.

Projects with a launch or new sales phase in July accounted for 523 of the month's 731 transactions. The remaining projects sold 208 units.

In August, Union Square Residences sold 10 units after releasing its later batch. All other projects collectively sold 143 units, about 31 per cent fewer than the 208 sales recorded by non-launch projects in July. The number of projects that registered at least one sale also slipped from 50 to 46. This means even after removing the boost from July's launches, buying activity still moderated by roughly one-third.

Still, the 143 sales recorded across projects without an August launch show that some buyers remained active. Rather than relying solely on the excitement of a new launch, these transactions suggest that buyers were willing to consider existing stock when the unit, price and overall value suited their needs.

Were buyers focusing more on lower-priced homes?

This trend was especially visible at Dunearn House. About 77.8 per cent of its August sales were priced below $2.5 million, compared with 42.6 per cent in July, when the project launched. The median size of the units sold also fell from 872 sqft in July to 635 sq ft in August.

In other words, the project's August transactions leaned more heavily towards smaller units with a lower overall purchase price.

Local buyers continued to dominate new home sales

Singaporeans made up 82.4 per cent of new non-landed private home purchases in August, excluding ECs, while permanent residents accounted for another 16.9 per cent.

Foreign buyers who were not permanent residents accounted for less than one per cent of sales, with only one transaction recorded at River Modern. Based on lodged caveats, this was the lowest monthly number of foreign-buyer purchases since 1995.

However, August's unusually low overall sales volume should be kept in mind when comparing buyer shares. With only 153 private homes sold during the month, even a small change in transaction numbers could shift the proportions more noticeably.

What happened in the EC market?

Developers sold 18 new EC units in August, down 33.3 per cent from 27 units in July. Coastal Cabana was the segment's top seller, accounting for 12 transactions at a median price of $1,830 psf.

The quieter month reflected both the lack of a fresh EC launch and the limited stock still available. As at the end of August, launched EC projects had 157 unsold units remaining, according to URA figures.

Could new private home sales recover in September?

August brought estimated private new home sales for the first eight months of 2026 to 5,038 units, excluding ECs. Although monthly sales are likely to remain uneven, activity could pick up from the second half of September as developers restart their launch schedules.

Projects expected to enter the market include the 212-unit Amberwood at Holland, the first private development in the new Holland Plain precinct, and Lucerne Grand in Lakeside. More than 2,000 private homes, excluding ECs, may be launched over the rest of 2026, giving buyers a wider range of locations, price points and unit types to consider.

Nevertheless, a busier launch calendar does not guarantee that every project will see the same response. Buyers are likely to compare the total price, location, layout and overall value carefully, particularly as economic uncertainty remains in the background.

For now, August's figures are best read as a quiet pause after July's launch-led rebound. The market had fewer new homes to choose from, and sales at existing projects also eased. The next few launches will provide a clearer test of how much demand is waiting on the sidelines as the market heads into the final months of 2026.

This article was first published in 99.co .

2026 年 8 月，由于开发商在农历七月推迟了重大项目启动，新的私人住宅销售放缓。

开发商售出153套新建私人住宅（不包括执行共管公寓），较7月份的731套下降79.1%。销量也比2025年8月的2142套下降了92.9%。

这是自2024年2月以来的最低月度销售量，当时开发商也售出了153套住房。包括执行共管公寓在内，开发商的总销售量从7月份的758套下降到8月份的171套。

99.co首席数据与分析官卢克曼·哈基姆表示，房价暴跌并不一定意味着购房者兴趣突然丧失。相反，这主要反映了当月新房上市数量极少。此外，8月恰逢农历七月（鬼月），2026年为8月13日至9月10日，传统上这段时间是购房淡季。

为什么8月份销售额下降了？

8月份仅有116套私人住宅上市销售，低于7月份的889套。这116套住宅均来自中央区其他地区（RCR）联合广场住宅项目的后期销售阶段。

核心中部地区 (CCR) 或中部以外地区 (OCR) 均未推出任何单元，且当月也没有任何全新项目启动。

相比之下，7月份受益于多个新楼盘的推出。仅Lentor Gardens Residences和Dunearn House两个项目当月就分别售出270套和212套，为购房者在新加坡不同地区提供了更多选择。

卢克曼补充说，新楼盘往往能带来最强劲的交易高峰。因此，开发商的月销售额会因项目上市时间的不同而出现显著差异。

哪个细分市场的销售额最高？

8月份，RCR地区的开发商共售出72套新房，较7月份的162套下降了55.6%。其中，The Sen项目成交12套，中位价为每平方英尺2305新元；Union Square Residences项目成交10套，中位价为每平方英尺2762新元。

与此同时，开发商在中央区（OCR）售出了57套新房，较7月份的334套下降了82.9%。其中，Lentor Gardens Residences项目成交15套，中位价为每平方英尺2367新元。该项目在7月份推出时共售出270套。

核心中央区（CCR）共录得24笔销售，较上月的235笔下降了89.8%。其中，Dunearn House占了18笔交易，即核心中央区总交易量的75%，中位价为每平方英尺3008美元。

现有项目的买家数量也减少了。

8月份销量下滑的主要原因是缺乏重磅新品发布，但这并非全部原因。当月未发布新品的项目，其销量也出现下滑。

7月份新开盘或进入销售阶段的项目占当月731笔交易中的523笔，其余项目共售出208套。

8月份，Union Square Residences在推出最后一批房源后售出了10套。其他所有项目共售出143套，比7月份非新开盘项目的208套销量减少了约31%。至少售出一套的项目数量也从50个下降到46个。这意味着即使剔除7月份新开盘带来的增长，购房活动仍然放缓了约三分之一。

尽管如此，在8月份没有新楼盘推出的项目中，仍有143笔交易记录，这表明部分买家依然活跃。这些交易表明，买家并非仅仅依赖于新楼盘推出的热潮，而是愿意在户型、价格和整体价值符合自身需求时考虑现有房源。

购房者是否更关注价格较低的房屋？

这一趋势在杜尼安楼（Dunearn House）尤为明显。8月份，该项目约77.8%的成交价低于250万新元，而7月份项目刚启动时，这一比例为42.6%。此外，售出单元的面积中位数也从7月份的872平方英尺下降至8月份的635平方英尺。

换句话说，该项目 8 月份的交易更倾向于购买价格较低的小户型单元。

本地买家继续主导新房销售

8 月份，新加坡人购买的新非有地私人住宅（不包括执行共管公寓）占 82.4%，永久居民占 16.9%。

非永久居民的外国买家成交量占比不到1%，River Modern项目仅有一笔交易记录。根据已提交的产权限制申请，这是自1995年以来外国买家单月成交量最低的一次。

然而，在比较买家份额时，应考虑到8月份异常低的整体销售量。当月仅售出153套私人住宅，因此即使交易数量出现微小变化，也可能导致比例发生更显著的改变。

电子商务市场发生了什么？

8月份开发商售出18套新的执行共管公寓（EC）单位，比7月份的27套下降了33.3%。Coastal Cabana是该细分市场中最畅销的楼盘，共成交12套，中位价为每平方英尺1830美元。

本月市场较为平静，既反映了缺乏新的执行共管公寓（EC）项目推出，也反映了剩余库存有限。根据市区重建局（URA）的数据，截至8月底，已推出的EC项目仅剩157套未售出单位。

9月份新私人住宅销售能否复苏？

8月份公布的数据显示，截至2026年前八个月，私人新房销售量预计为5038套（不包括执行共管公寓）。尽管月度销售量可能仍会波动，但随着开发商重启新房发售计划，9月下半月市场活动有望回升。

预计即将上市的项目包括位于荷兰平原（Holland Plain）的首个私人住宅项目——拥有212个单元的Amberwood at Holland，以及位于湖畔（Lakeside）的Lucerne Grand。2026年剩余时间内，预计将推出超过2000套私人住宅（不包括执行共管公寓），为购房者提供更广泛的地段、价格区间和户型选择。

然而，更密集的楼盘发布日程并不能保证每个项目都能获得同样的市场反响。买家很可能会仔细比较总价、地理位置、户型和整体价值，尤其是在经济形势依然不明朗的情况下。

目前来看，8月份的数据最好解读为7月份新房上市推动市场反弹后的一次平稳回调。市场上可供选择的新房数量减少，现有项目的销售也出现放缓。接下来的几个新项目将更清晰地检验市场在进入2026年最后几个月时，究竟有多少潜在需求在等待时机。

本文最初发表于 99.co。