Luxury condo sales rise in Singapore as buyers seek safe-haven assets amid Middle East crisis

Luxury condominium transactions in Singapore’s Core Central Region (CCR) climbed in the first quarter of 2026, with 75 units priced at S$5 million and above S$3,000 per square foot sold — up from 54 in the previous quarter and the highest quarterly volume since 84 units moved in Q4 2023. This surge signals that buyers are treating high-end properties as long-term secure assets despite global volatility, particularly spillover effects from the ongoing Middle East crisis. Realion Group, in its Q1 2026 Luxury Market report, said the trend reinforces Singapore’s status as a safe haven for wealth preservation. Total luxury home transactions in the CCR — including both new and resale deals — reached 188 units in the quarter, up from 186 in Q4 2025. Of these, 55 were new sales, the highest since Q4 2023, with a total transaction value of S$400 million, rising from S$330 million. The bulk of new sales came from the launch of River Modern, where 38 units priced at S$5 million and above changed hands. Other developments contributing to new sales include Skye at Holland, Upperhouse at Orchard Boulevard, and Watten House, each recording three transactions. Resale activity, while still strong, dipped slightly to 133 units from 139, with transaction value falling to S$1.3 billion from S$1.43 billion. Good Class Bungalow (GCB) transactions declined sharply to four in Q1, down from nine in the prior quarter. The most expensive GCB sale was a property on Gallop Road or Woollerton Park, which transacted at S$31.5 million.