Singapore's luxury home market cooled in the third quarter of 2026, but landed houses still dominate the top end. According to figures from Realion Group (OrangeTee & ETC), reported by The Edge Singapore on 8 October 2026, 504 homes sold for $5 million or more in the first nine months of the year, nearly 10% more than a year earlier. For buyers of detached and Good Class Bungalow (GCB) homes, here is what stands out.
Fewer luxury deals in the prime districts
Using caveats from URA's Realis platform, Realion counted 135 landed and non-landed homes in the Core Central Region (CCR) sold for at least $5 million between 1 July and 27 September. That compares with 176 in the second quarter and 193 in the first. The total value of those deals fell 28.5% quarter-on-quarter to $1.29 billion.
| Homes sold for $5M+ in the CCR | Units |
|---|---|
| 1Q2026 | 193 |
| 2Q2026 | 176 |
| 3Q2026 (1 Jul – 27 Sep) | 135 |
Despite the slowdown, the nine-month tally of 504 is above the 459 deals in the same period of 2025 and almost 50% above the 337 in 2024. Realion also notes that luxury sales made up only 3% of the 4,557 private residential transactions (excluding executive condominiums) in the quarter, similar to the 2.9% share in the second quarter.
Ultra-luxury: landed homes lead
Ultra-luxury buying interest, meaning homes worth at least $10 million, fell from 57 units in the second quarter to 43 in the third, excluding bulk deals. Of the 43, 32 were landed properties and 11 were non-landed. The priciest non-landed home was a 304 sqm freehold unit at Sculptura Ardmore in District 10, which sold for $20 million.
Good Class Bungalows: five deals
Realion recorded five caveated GCB transactions in the third quarter, down from seven in the second quarter and nine in the third quarter of 2025. The highest-value deal was a GCB in the Ridout Park GCB area at $31.8 million. Two others in the Raffles Park GCB area sold for $24 million and $23.8 million.
| Top GCB deals, 3Q2026 | Price |
|---|---|
| Ridout Park GCB area | $31.8 million |
| Raffles Park GCB area | $24 million |
| Raffles Park GCB area | $23.8 million |
GCBs trade rarely, so a quarter with five deals is a small sample. A single transaction can swing any average, which is why individual caveats on the same street tell you more than a headline index.
Wealthy buyers are looking beyond the CCR
Realion points out that homes sold for at least $5 million outside the CCR have grown in number. In the suburban Outside Central Region (OCR), 231 such homes sold in 2023, 378 in 2024 and 480 in 2025. In the first nine months of 2026 the OCR recorded 516, more than the 504 in the CCR. In the Rest of Central Region (RCR), the count rose from 185 in 2023 to 323 in 2025, with 278 in the first nine months of 2026.
All 43 homes sold for $10 million or more in the OCR were landed. The priciest was a 2,203 sqm detached house on Upper Serangoon Road at $26 million, followed by a 1,327 sqm detached house on Sundridge Park Road at $22.85 million. In the RCR, 27 of the 30 ultra-luxury homes sold in the nine months were landed.
What Realion expects
Realion says demand for premium homes in the OCR and RCR may keep rising because more projects are slated to launch there. It also says macroeconomic uncertainty and Middle East conflicts "will continue to spur high-net-worth individuals to Singapore for safe-haven assets", and that "affluent locals and the growing population of new citizens and Permanent Residents will continue to sustain demand for prime luxury homes."
What this means for landed buyers
Three practical points follow from the data. First, a slower quarter in the CCR is a lower-volume market, not necessarily a falling one; our look at URA's Q3 flash estimate shows landed prices still rose 2.8%. Second, at $10 million and above, landed homes make up most of the deals in every region, so land size and tenure matter more than the label of the district. Third, budget for taxes early: see our guide to stamp duty on a landed home.
For a look at a recent Aurum Land landed collection, see our story on Kheam Hock Road, where all eight freehold homes have now sold. Aurum Land is currently previewing two freehold detached bungalows at Anagram Homes, Tan Boon Chong Avenue in District 10, with guide prices of S$19.8 million and S$24.5 million; you can also read the project overview on New Launches Condo. WhatsApp Patrick for floor plans, prices and private viewings.
This article is for general information only and is not financial or investment advice. Figures are from the sources below as at their publication dates.
Sources
- The Edge Singapore, 504 luxury homes sold for $5 mil or more in 9M2026, 10% higher y-o-y: Realion, 8 October 2026 (data: Realion Group, from URA Realis caveats)
