Condo resale activity rebounds in July 2026 as prices edge lower

Singapore's condo resale market recorded a measured improvement in activity in July 2026, with more units changing hands even as overall prices edged lower.

Despite the increase in transactions, resale volume remained slightly below both last year's level and the typical volume recorded for the month. Prices also continued to sit above their year-ago level, pointing to a stabilisation in the market rather than a broad decline in resale values.

Overall resale prices dip 0.3% in July

Condo resale prices decreased by 0.3 per cent month-on-month in July, although performance varied across the three market segments.

Prices in the Core Central Region (CCR) rose by 2.6 per cent, while those in the Rest of Central Region (RCR) and Outside Central Region (OCR) declined by 1.1 per cent and 0.9 per cent, respectively.

On a year-on-year basis, overall resale prices remained 2.7 per cent higher than in July 2025. The CCR recorded the strongest annual increase at 6.2 per cent, followed by the RCR at 2.8 per cent and the OCR at 2.6 per cent.

"Overall resale prices eased even as more units changed hands. This could indicate that buyers remained price-sensitive, with transactions more likely to proceed when sellers were prepared to meet the market," said Luqman Hakim, Chief Data & Analytics Officer at 99.co.

"Nevertheless, prices were still almost three per cent higher year-on-year, suggesting that the monthly decline represents a period of price consolidation rather than a broad weakening of resale values."

Resale volume rebounds from June but remains below historical levels

The estimated 1,075 resale transactions recorded in July marked a 7.1 per cent month-on-month increase.

"July's resale figures point to a measured recovery in buying activity after a quieter June. The month-on-month increase likely reflects, in part, the return of buyers following the June school holidays," Luqman said.

"However, resale volume remained 0.6 per cent lower than a year ago and 4.1 per cent below the five-year average for July. The improvement therefore appears to be more of a normalisation in activity than the start of a strong upswing."

The OCR continued to account for the largest share of transactions at 50.8 per cent. The RCR made up 31.6 per cent of resale volume, while the CCR accounted for the remaining 17.6 per cent.

Sub-sales represented 3.5 per cent of all secondary-market transactions in July, down from June. A sub-sale refers to a secondary transaction involving a unit that is resold before the project is completed.

Leedon Residence records July's highest resale price

The most expensive condo resale transaction in July was for a unit at Leedon Residence, which changed hands for $14.3 million.

In the RCR, the highest transacted price was S$10 million for a unit at The View @ Meyer. The OCR's highest-priced transaction was a $4.1 million resale at St Patrick's Residences.

Median capital gain falls to $381,000

The overall median capital gain for resale condos stood at $381,000 in July, $19,000 lower than the $400,000 recorded in June.

District 10, which covers Tanglin, Holland and Bukit Timah, posted the highest median capital gain at $920,000. District 9, covering Orchard and River Valley, recorded the lowest at $191,000.

Capital gains are calculated by comparing the latest transacted price of a unit with the price paid in its previous transaction. Only districts with at least 10 matching transactions are included in the ranking.

Median unlevered return stands at 31.1 per cent

The overall median unlevered return for resale condos was 31.1 per cent in July.

District 21, which includes Clementi Park and Upper Bukit Timah, recorded the highest median unlevered return at 49.9 per cent. District 9 posted the lowest median return at 10.6 per cent.

As with capital gains, returns are calculated by comparing each unit's latest transacted price with its previous transacted price. Districts with fewer than 10 matching transactions are excluded.

What could happen to condo resale activity in the coming months?

With no new private residential projects launching in August, buyer attention may remain focused on the resale market in the immediate term. New-launch activity is currently expected to resume in September, with Amberwood at Holland previewing on Sept 11 and Lucerne Grand on Sept 18, followed by Thomson Reserve on Oct 3.

These projects could draw some buyers towards the primary market. However, resale condos may continue to appeal to those looking for a completed home, a shorter wait to move in or options at different price points. "As a result, resale volumes may fluctuate over the next few months rather than rise consistently," Luqman said.

The removal of the 15-month wait-out period for private homeowners buying a non-subsidised HDB resale flat could also gradually affect condo resale supply. Those who had already been considering right-sizing can now move ahead without waiting 15 months after selling their private property. 

Current private homeowners may also purchase an HDB resale flat first, although they must dispose of their private property within six months of completing the flat purchase.

"This may gradually increase the supply of resale homes, giving buyers more choices and helping to keep overall price growth measured," Luqman added.

Taken together, the July figures suggest that resale activity has recovered from June's quieter showing, but the market has yet to move into a sustained upswing. 

With buyers remaining price-sensitive and new launches returning in the coming months, both transaction volume and prices are likely to continue moving within a measured range in the near term.

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This article was first published in 99.co.