Near sell-out launches in March boost developer sales to 1,300 units after 4 slow months

Sales rebounded in March after a slow start to the year, hitting the low hundreds after the holiday lull.SINGAPORE – Developers in Singapore sold 1,300 private homes in March, up 78.3 per cent from the 729 units moved a year earlier, as more projects hit the market after a slow season.Data released by the Urban Redevelopment Authority on April 15 showed that the latest sales, excluding executive condominiums (ECs), were also more than five times the 246 units sold in February.Including ECs, 1,937 units were sold in March with 1,615 units launched, compared with the 1,510 units sold and 1,315 units launched in the same month in 2025.In comparison, 266 units were sold and a mere 15 launched in February.The strong sales followed near sell-out launches of new condominium projects in March.During the month, the 455-unit River Modern in River Valley moved 90 per cent of units over its launch weekend, while two projects in Tampines – Rivelle Tampines EC and Pinery Residences – also cleared more than 90 per cent of units when they opened for sales.Sales rebounded in March after four much slower months, with sales tallying in the low hundreds over the year-end lull and seasonal Chinese New Year pullback.Still, the March tally brought total first-quarter sales to a lower level than what the market saw in the first quarter of 2025.According to property portal mogul.sg’s chief research officer Nicholas Mak, homebuyers picked up 2,012 new private homes in the first quarter of 2026, a 31.6 per cent decline over the previous quarter and 40.4 per cent lower year on year.And in a sign of EC pricing – and demand – reaching new benchmarks, the volume of ECs sold for at least $2 million hit a high in March.Some 275 units were sold for at least S$2 million in March, surpassing the previous high of 150 units in March 2025, said Ms Christine Sun, real estate company Realion’s chief researcher and strategist.“By unit price, 411 ECs were sold for a premium price of $1,900 per square foot and above in March 2026, of which 410 units were from Rivelle Tampines. Only 10 ECs were sold at this price point historically,” she noted.Among the three market segments, the suburban Outside Central Region led in condo and private apartment sales, accounting for 51.2 per cent in March.This was followed by the prime Core Central Region, which comprised 36.3 per cent of primary sales, and the Rest of Central Region, or city fringe, which made up 12.5 per cent of new sales in March. THE BUSINESS TIMESSource: The Straits Times © SPH Media Limited. Permission required for reproductionDiscover how to enjoy other premium articles here