The answer: No major research house has published a 2027 price forecast for Singapore private homes yet. What exists: URA's flash estimate puts prices up 2.8% in the first nine months of 2026, analysts expect 2% to 5% for the full year, and URA data show about 9,700 homes due to complete in 2027.
Published 2 October 2026, using URA's flash estimate for Q3 2026 (1 October). We will add 2027 forecasts as named firms publish them, and update the price data when URA releases final Q3 figures on 23 October 2026.
Have any analysts forecast Singapore property prices for 2027?
Not yet, as far as we can verify. As of 2 October 2026, the forecasts that CBRE, Knight Frank, ERA, PropNex, Huttons, Realion (OrangeTee) and Savills have put on record cover full-year 2026. We found no 2027 price forecast from a named research house or bank. The only "2027 forecasts" we came across were statistical model projections and agent blogs, which we do not treat as sources.
These are the latest dated forecasts. Each is the firm's view on the date shown, for the year shown.
| Firm | Analyst | Date | Forecast (year) | Basis given |
|---|---|---|---|---|
| CBRE | Tricia Song, head of research, Singapore and Southeast Asia | 1 Oct 2026 | Prices +2% to 4%; 7,500 to 8,500 new-home sales (2026) | New sales fell sharply in Q3; cites global economic uncertainty and rising interest rates |
| Knight Frank | Leonard Tay, head of research | 1 Oct 2026 | Prices +3% to 5%, unchanged (2026) | Demand for well-located projects; some buyers may act before borrowing costs rise further |
| ERA | Marcus Chu, CEO | 1 Oct 2026 | Prices +3% to 5%, maintained (2026) | Genuine housing demand, including owners right-sizing and family-supported younger buyers |
| Huttons | Mark Yip, CEO, Huttons Asia | 15 Sep 2026 | Prices +2% to 5%; about 7,000 new-home sales (2026) | Thin launch pipeline in 2026 |
| PropNex | Kelvin Fong, CEO | 24 Jul 2026 | Prices +3% to 4%; about 9,000 new-home sales (2026) | Steady take-up; developers pricing with affordability in mind |
| Realion (OrangeTee) | Christine Sun, chief researcher and strategist | 24 Jul 2026 | Prices +2.5% to 3.5% (2026) | Rising mortgage rates and a weak hiring outlook may make buyers cautious |
| Savills | Not named | 15 Jun 2026 | Prices about +3%, maintained (2026) | Limited supply in some areas; demand spilling from ECs into suburban private homes |
Sources: The Edge Singapore, 1 Oct 2026 (CBRE, Knight Frank, ERA); EdgeProp via Yahoo, 15 Sep 2026 (Huttons); PropNex, 24 Jul 2026; EdgeProp, 24 Jul 2026 (Realion); Real Estate Asia, 15 Jun 2026 (Savills). We did not find current published views from JLL, Colliers, DBS, UOB or OCBC that we could verify.
What the 2026 forecasts imply for the last quarter (our calculation). URA's index rose 2.8% from Q4 2025 (216.4) to the Q3 2026 flash (222.5). For full-year growth to land between 2% and 5%, the Q4 2026 change would need to be between about −0.8% and +2.1%. This is arithmetic on the forecasts above, not our own forecast.
How have private home prices moved since 2022?
URA's private residential price index has risen every year since 2022, but by less each year.
| Year | Index at Q4 (1Q2009 = 100) | Annual change (URA) |
|---|---|---|
| 2022 | 188.6 | +8.6% |
| 2023 | 201.5 | +6.8% |
| 2024 | 209.4 | +3.9% |
| 2025 | 216.4 | +3.3% |
| 2026, to Q3 (flash) | 222.5 | +2.8% in nine months (our calculation) |
Sources: index levels from URA via data.gov.sg; annual changes from URA's Q4 releases (pr25-05, pr26-05); Q3 2026 flash from URA pr26-69. Per-quarter figures and sources are on our market data page.
The 2026 quarters so far:
| Quarter | Index | Change on previous quarter |
|---|---|---|
| Q1 2026 | 218.3 | +0.9% |
| Q2 2026 | 219.4 | +0.5% |
| Q3 2026 (flash) | 222.5 | +1.4% |
In Q3, URA's flash shows landed homes up 2.8% and suburban (OCR) condos up 2.2%, while prime (CCR) condos slipped 0.1%. Our Q3 2026 flash estimate breakdown has the full segment table. The flash covers transactions to mid-September; URA's final Q3 figures are due on 23 October 2026.
From Q1 2022 (174.8) to the Q3 2026 flash (222.5), the index is up about 27% on our calculation.
How many new homes are developers selling?
New-home sales have been volatile in 2026 and are running below 2025.
| Period | New private homes sold by developers (excluding ECs) | Source |
|---|---|---|
| 2024 | 6,469 | URA pr25-05 |
| 2025 | 10,815 | URA pr26-05 |
| Q1 2026 | 2,013 | URA pr26-31 |
| Q2 2026 | 2,141 | URA pr26-57 |
| July 2026 | 731 | URA monthly data, via PropNex |
| August 2026 | 153 | URA monthly data, via EdgeProp/Yahoo |
August's 153 units was the lowest monthly total since February 2024, when developers also sold 153, and no new project was launched that month. September's figure is due in mid-October. The analyst sales forecasts in the table above range from about 7,000 (Huttons) to about 9,000 (PropNex) for 2026, against 10,815 in 2025. Monthly figures and sources are on our market data page.
Q4 2026 has a heavier launch calendar. Realion's Christine Sun named Lucerne Grand, Thomson Reserve and The Serra Residences, about 2,000 units between them, and expects them to lift transactions (The Edge Singapore, 1 Oct 2026). See our reviews of Lucerne Grand, Thomson Reserve and The Serra Residences.
How much housing supply is coming in 2027?
URA's pipeline data, as at the end of Q2 2026, are the hard numbers behind any 2027 outlook.
| Expected completion year | Private homes and ECs (URA) |
|---|---|
| 2H 2026 | 5,012 |
| 2027 | 9,704 |
| 2028 | 11,204 |
| 2029 | 10,188 |
| After 2029 | 24,517 |
| Total | 60,625 |
Source: URA Annex E-3, pr26-57. The total includes units without planning approval yet, including Government Land Sales sites; URA rounds it to about 60,600.
Other supply measures from the same release:
| Measure (end of Q2 2026) | Figure |
|---|---|
| Unsold uncompleted private homes with planning approval (excluding ECs) | 14,929 (Q1 2026: 16,095) |
| ...of which CCR / RCR / OCR | 5,428 / 4,380 / 5,121 |
| Pipeline units with planning approval, including ECs | 42,472, of which 15,810 unsold |
| Unsold units without planning approval, including ECs | 18,153 |
| Vacancy rate, completed private homes (excluding ECs) | 6.4% |
Sources: URA pr26-57, Annex B, Annex E-1.
Land supply is also high. The Government Land Sales Confirmed List for 2026 totals 9,320 private homes (4,575 in the first half and 4,745 in the second), which URA says is more than 50% above the 10-year annual average (URA pr26-41). Sites sold under this programme feed launches in 2027 and later.
What could move prices in 2027?
These are the factors analysts and URA themselves point to. We list them; we do not weight them into a forecast.
- Interest rates. CBRE, Knight Frank and Realion all cite rising borrowing costs. The US Federal Reserve raised its target range by 0.25 percentage point on 16 September 2026 (Federal Reserve). URA's 1 October release says the outlook for global and domestic interest rates is highly uncertain.
- Supply. Completions rise from 9,704 in 2027 to 11,204 in 2028, and the 2026 GLS Confirmed List is more than 50% above its 10-year annual average, both on URA's figures. More supply generally limits price growth.
- Launch volume. Several analysts tie 2026 sales to how many projects launch. A heavy Q4 2026 calendar and the GLS pipeline mean more choice for buyers in 2027.
- HDB upgraders. HDB resale prices have fallen for three quarters in a row on HDB's figures (Q3 2026 is a flash estimate), which affects how much equity upgraders bring to private purchases. See our HDB resale price trend 2026 page.
- Policy. Additional Buyer's Stamp Duty rates have not changed since 27 April 2023 (IRAS). Any change to stamp duties or loan limits would shift the outlook; our ABSD guide has the current rates.
This is general market information, not advice about whether or when to buy. Forecasts are the named firms' views and can change.
FAQ
Will Singapore property prices go up in 2027?
No named research house had published a 2027 price forecast as of 2 October 2026. For 2026, CBRE, Knight Frank, ERA, PropNex, Huttons, Realion and Savills all expect prices to rise, with forecasts between 2% and 5%.
How much have Singapore private home prices risen in 2026?
URA's flash estimate shows the private residential price index up 2.8% from Q4 2025 to Q3 2026 (216.4 to 222.5), on our calculation. Prices rose 0.9% in Q1, 0.5% in Q2 and 1.4% in Q3 (flash).
How many private homes will be completed in 2027?
URA expects 9,704 private homes and executive condominiums to be completed in 2027, based on its pipeline data at the end of Q2 2026. This includes 1,264 ECs.
Is there an oversupply of private homes in Singapore?
URA counted 14,929 unsold uncompleted private homes with planning approval at the end of Q2 2026, down from 16,095 a quarter earlier, and a 6.4% vacancy rate for completed homes. The government has kept land supply high, with 9,320 units on the 2026 GLS Confirmed List.
When will URA release the final Q3 2026 price index?
URA will release its full 3rd Quarter 2026 real estate statistics on 23 October 2026. The flash figure of +1.4% may be revised.
Sources
- URA, "Release of flash estimate for 3rd Quarter 2026 private residential property price index", 1 October 2026: ura.gov.sg and Annex A (PDF)
- URA, "Release of 2nd Quarter 2026 real estate statistics", 24 July 2026: ura.gov.sg, Annex B (PDF), Annex E-1 (PDF), Annex E-3 (PDF)
- URA, "Release of 1st Quarter 2026 real estate statistics", 24 April 2026: ura.gov.sg
- URA, 4th Quarter 2025 and 4th Quarter 2024 real estate statistics: pr26-05, pr25-05
- URA, Government Land Sales Programme for 2nd Half 2026, 3 June 2026: ura.gov.sg
- URA price index, quarterly, on data.gov.sg
- The Edge Singapore, analyst comments on the Q3 2026 flash estimate, 1 October 2026: theedgesingapore.com
- PropNex, Q2 2026 market commentary, 24 July 2026: propnex.com
- PropNex, July 2026 developer sales: propnex.com
- EdgeProp, Q2 2026 price index and analyst forecasts, 24 July 2026: edgeprop.sg
- EdgeProp via Yahoo News Singapore, August 2026 developer sales, 15 September 2026: sg.news.yahoo.com
- Real Estate Asia, Savills 2026 forecast, 15 June 2026: realestateasia.com
- IRAS, Additional Buyer's Stamp Duty (ABSD)
- US Federal Reserve, FOMC statement, 16 September 2026: federalreserve.gov
- SG Properties market data (URA and HDB index series, developer sales, per-row sources): /market
SG Properties is an independent research site and not a licensed estate agency. Forecasts belong to the firms named; flash estimates are provisional.
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