Sales of new private homes in Singapore fell sharply in August as developers held back major launches during the Hungry Ghost Month, leaving buyers with fewer new projects to choose from.
Developers sold 153 new private homes in August, excluding executive condominiums, according to data from the Urban Redevelopment Authority. This was 79.1 per cent lower than the 731 units sold in July and 92.9 per cent below the 2,142 units recorded in August 2025.
The August figure was the lowest monthly sales volume since February 2024, when developers also sold 153 units.
The sharp decline was largely linked to the lack of new project launches during the seventh lunar month, which ran from Aug 13 to Sept 10 this year. Developers traditionally avoid launching major projects during the period, which is considered an inauspicious time for major purchases by some Chinese families.
Only 116 new private homes were released for sale in August, an 87 per cent drop from the 889 units launched in July. All of the new units came from a later sales phase at Union Square Residences, with no brand-new project launched during the month.
The slowdown therefore reflected both seasonal factors and a limited supply of new homes. Analysts said the August figures should not necessarily be interpreted as a sharp deterioration in underlying buyer demand.
Dunearn House was the best-selling project during the month, with 18 units sold at a median price of S$3,008 per square foot. Lentor Gardens Residences followed with 15 units sold at a median S$2,367 per square foot.
The Rest of Central Region recorded 72 new home sales in August, followed by 57 units in the Outside Central Region and 24 units in the Core Central Region.
Including executive condominiums, developers sold 171 new units in August, compared with 758 units in July. Developers sold only 18 new EC units during the month, down from 27 in July.
For the first eight months of 2026, developers sold 5,038 new private homes excluding ECs, 34.3 per cent fewer than the 7,669 units sold during the same period last year.
The market is expected to become more active as developers resume launches after the seasonal lull. Projects expected to enter the market include Amberwood at Holland, Lucerne Grand and Thomson Reserve, giving buyers more choices across different locations and price ranges.
However, analysts said sales could remain uneven as buyers continue to weigh property prices, financing conditions and broader economic uncertainties. The coming months are expected to provide a clearer picture of the strength of demand as more new projects are brought to market.
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