Private home launch pipeline expected to climb to 14-year high in 2027

SINGAPORE – Home buyers are set to have more options in 2027, with developers expected to roll out the largest supply of new private homes in more than a decade.

More than 30 projects, including five executive condominiums (ECs), are expected to be ready for launch, and are likely to yield about 16,800 new homes, said Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group.

Excluding ECs, there are an estimated 14,800 units in the pipeline in 2027 – the largest since 2013, when 15,885 units were launched.

In the 2027 market outlook report by Realion Research, the firm said more than half of the 14,800 new units, or 8,424 units, will be in the suburbs, outside the central region.

Another 3,434 units are expected in the rest of central region, or city fringe, and 2,943 units in the core central region.

Sun said she expects the larger supply of suburban homes, which usually have lower entry prices than those in the central areas, to appeal to HDB upgraders.

The potential launch of five EC projects with a combined 2,000 units could give young couples more housing options, she added.

Sun highlighted several developments that could draw strong interest. They include the 1,280-unit project at Bayshore Drive site, Lentor Signature in Lentor Central and Hougang Central Residences, a mixed-use integrated development.

Other potential launches to watch are the Loyang Valley collective sale redevelopment and Bedok Rise, a Government Land Sales site in the east.

The five potential ECs are Wynwood Grand in Woodlands with 430 units, Clovelle of Woodlands with 560 units, a development at Miltonia Close with 450 units, a project in Sembawang Road with 265 units and Solano Grand in Bukit Panjang with 302 units.

ERA Singapore key executive officer Eugene Lim said the five ECs would not be affected by the new EC rules, which give greater priority to first-timers. That could make them more attractive to second-time buyers, noted Lim.

ECs offer HDB owners a relatively more affordable route into private housing, said Lim, although location, pricing and amenities would still influence purchases.

The Housing Board earlier said it expects about 15,000 flats to complete their minimum occupation period in 2027, up from 13,500 in 2026.

Huttons Asia chief executive Mark Yip said subdued HDB resale prices could dampen demand for resale condominiums among HDB upgraders.

HDB owners planning to upgrade “should understand their motivation for an upgrade and their ability to maintain mortgage payments should there be a change in interest rates or employment status”, he added.

Meanwhile, the larger supply of new private homes could also make it more challenging for owners to sell their existing condominium units.

Data from the Urban Redevelopment Authority showed that 8,868 private homes, excluding ECs, will be obtaining their temporary occupation permits in 2027, up from 7,783 units in 2026.

The sold-out 816-unit The Continuum in District 15 is among the developments slated for completion in 2027, the report added.

Sun said the larger supply of newly launched and completed homes could give buyers more housing options and greater bargaining power.

She added that resale transactions, based on estimates, are expected to fall to between 12,000 and 14,000 units in 2027, from an estimated 13,500 to 14,500 units in 2026.

Yip said new home transactions accounted for 29.5% of private residential sales in 2024. In 2025, these transactions rose to 40.8% following strong sales at several developments, including The Orie, ParkTown Residence and Lentor Central Residences.

He projects the proportion of new sales to be about 35% in 2026. He attributed the appeal of new launches to attractive locations, pricing and pent-up demand for homes in certain estates.

Buyers who do not need a home immediately could also favour new launches with progressive payments during construction and a 12-month defects liability period, said Yip.

Yip added that weaker demand could put pressure on resale prices in the short term.

Lim noted that the median price gap between new and resale condominiums had narrowed from $908 per sq ft (psf) in 2023 to $772 psf in 2026, potentially encouraging buyers to choose new units. New projects also offer fresh facilities and, for leasehold homes, a fresh lease, he said.

Resale condominiums remain attractive to buyers who need to move in immediately or want larger units, added Yip. Nevertheless, softer resale demand could put pressure on prices in the short term.

Sun also touched on how interest rates could rise amid inflationary pressures, and higher borrowing costs may potentially dampen demand for larger or more expensive homes.

Despite these headwinds, Sun said she expects overall private home sales, excluding ECs, to rise by about 10.3% to between 22,000 and 26,000 units in 2027, from an estimated 21,000 to 22,500 in 2026.

New private home sales are expected to rebound to 9,500 to 11,500 units in 2027, from an estimated 7,000 to 7,500 units in 2026.

Overall private residential prices are also expected to increase by 3% to 5% in 2027.