Market Brief No 2 Singapore Property Market Outlook for the Rest of 2026 What Should Buyers, Sellers and Investors Expect? The Singapore residential property market is expected to remain resilient through the second half of 2026, although the pace of price growth is likely to be more moderate than in recent years. After several years of exceptional performance, the market is transitioning towards a healthier and more balanced environment where buyers have more choices, sellers need to price realistically, and investors are focusing increasingly on long-term fundamentals rather than short-term price movements. Recent data indicates that private residential prices continue to rise, but at a slower pace, while the HDB resale market has softened slightly after several years of strong growth. A More Balanced Market Higher borrowing costs over the past two years have encouraged buyers to become more selective. Rather than rushing into a purchase, many are taking time to compare locations, assess affordability and evaluate long-term value. This is a positive development. A balanced market supports more sustainable price growth and encourages better decision-making by both buyers and sellers. Private Residential Market The private residential market is expected to remain supported by limited land supply, healthy household incomes and continued demand from owner-occupiers. Well-located developments near MRT stations, established schools and lifestyle amenities should continue to attract interest, while projects with weaker attributes may face greater competition. Most analysts expect private residential prices to record modest growth for the full year rather than the sharp increases seen in previous cycles. HDB Resale Market The HDB resale market is likely to remain stable despite recent moderation in prices. Many flat owners continue to enjoy substantial capital appreciation accumulated over recent years, providing opportunities for upgrading to private housing. Buyers, however, have become more price-conscious and are increasingly selective, particularly for older flats with shorter remaining leases. Opportunities for HDB Upgraders The current market may offer favourable conditions for HDB owners planning to upgrade. With private price growth becoming more measured and HDB values remaining relatively resilient over the medium term, many homeowners are in a stronger position to evaluate their options without feeling pressured to make immediate decisions. Successful upgrading, however, should be based on affordability, cash flow and long-term family needs rather than expectations of short-term price appreciation. Key Factors to Watch Several factors are likely to influence the market during the remainder of 2026: Interest rate movements and mortgage affordability. Supply of new residential projects. Government land sales and housing supply. Singapore's economic and employment outlook. Any changes to housing policies or property regulations. While these factors may affect market sentiment, Singapore's residential property market continues to benefit from strong underlying fundamentals, including limited land supply, prudent regulation and steady owner-occupier demand. KH Ngai's Perspective Rather than asking whether property prices will rise or fall over the next few months, I believe buyers and investors should ask a more important question: "Does this property support my long-term financial and lifestyle goals?" Trying to time the market perfectly is rarely successful. In my experience, the most successful homeowners and investors focus on purchasing quality properties they can comfortably afford and are prepared to hold over the long term. Market cycles will come and go, but sound financial planning and disciplined decision-making remain the foundations of successful property ownership. Quick Takeaways ✓ Singapore's residential market is expected to remain stable and resilient through the rest of 2026. ✓ Buyers are likely to enjoy more choices, while sellers will benefit from realistic pricing and effective marketing. ✓ Long-term property fundamentals remain more important than short-term market sentiment.