Singapore developers sold 153 new private homes, excluding executive condominiums, in August 2026, a 79.1% drop from 731 units in July, according to Urban Redevelopment Authority data reported by the Straits Times. Year-on-year, sales fell 92.9% from 2,142 units in August 2025. The sharp decline is largely attributed to the Hungry Ghost month, a seasonal lull, though analysts note this interpretation has not been proven.
The lunar seventh month, known as the Hungry Ghost Festival, began on 13 August and ended on 10 September. During this period, developers typically delay new launches, and some buyers postpone purchases. Only one project was launched in August: Union Square Residences with 116 units. By region, the Rest of Central Region led with 47% of sales, followed by the Outside Central Region with 36% and the Core Central Region with 16%.
Christine Sun of Realion (OrangeTee and ETC) Group noted that the Hungry Ghost month started later in 2025, on 23 August, giving developers more time to launch projects before the period. This timing gap helps explain the steep year-on-year drop. Analysts quoted in the coverage describe the decline as a seasonal lull and a wait-and-see approach, not a loss of demand. However, the August data alone cannot confirm this, as sales in a month with only one launch largely reflect the launch calendar.
Among projects, Dunearn House in the Core Central Region led with 18 units sold at a median S$3,008 per square foot (psf), with 227 of its 380 units (59.7%) sold since its July launch. Lentor Gardens Residences in the Outside Central Region sold 15 units at a median S$2,367 psf, with 282 of 499 units (56%) sold. The Sen in the Rest of Central Region sold 12 units at S$2,305 psf. These per-project medians describe individual projects only and do not indicate a market-wide price trend.
PropNex's Wong Siew Ying expects a recovery from late September as new launches are previewed. The coverage cites full-year estimates of about 7,000 units launched with 2 to 5% price growth, though these are forecasts, not outcomes. Upcoming launches include Amberwood at Holland, whose preview began on 11 September, Lucerne Grand, and The Serra Residences, expected in October. September developer sales data, due from URA in mid-October, will show whether post-festival launches lift volumes.
