Some trend graphs for private property in Singapore in preparation for 2026

CLSA has a pretty comprehensive report on the prospects for property developers in Singapore in 2026.

As MAS seeks to revive the local bourse with a S$5 billion fund injection, real estate funds could benefit. They are probably some small and medium developers.

The potential are:

1. Hi Par
2. Hotel properties limited
3. Guocoland
4. Ho Bij
5. Wing Tai

But CLSA’s best choice is United Overseas Land or UOL.

The catalyst is the redevelopment of Marina Square and as it trades at a 50% discount to the RNAV, valuations are not demanding.

But what I want to share is not the analysis.

The report provides some trend graphs on private property in Singapore that some readers may enjoy.

Growth of property prices in Singapore

The graph below shows the growth per calendar year.

Although growth is not high, we have had nine consecutive years of positive growth.

Private property price growth in Singapore by segment.

Since Covid, the growth of OCR and RCR has outpaced that of CCR, driven in part by the more practical need. OCR and RCR are cheaper than CCR in absolute terms.

Growth of private property rental in Singapore

Rentals have fallen massively due to Covid and have fallen since. Growth is now more manageable, but rents have been adjusted by 30%.

Singapore Private Property Vacancy Rates.

Vacancy rates are not consistent, but outside the central region the demand profile is generally better, with the rest of the central region coming in second.

Trend of fixed and variable mortgage rates

The fixed interest packages at the three local banks have fallen to 1.5% per year:

Variable packages have also been relaxed, but credit margins have remained largely stable.

Affordability of private housing

Private property no longer as available as it was 10 years ago.

Loan Value Limits – Government Policy

History of real estate measures in Singapore since 1995

Current ABSD tiering

Current SSD tiering

New and upcoming private property launches

Real estate bought mainly by Singaporeans and PR

Performance of Singapore developers versus REITs

SMID stands for small and medium-sized. In this case, SMID developers outperformed large-cap developers by 4 points in Q3 2025.

This year, developers have done well, and this is also compared to REITs in Singapore.

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