Singapore Unsold Condo Inventory Climbs to 16,219 Units in 2026: What It Means for Buyers and Land-Banking

Expert takeaway: Singapore's unsold private condo inventory climbed to 16,219 units in Q1 2026, but this is still well below the long-term average. The number signals a controlled supply build-up, not a glut, which is why buyers should read project-level data rather than panic over the headline.

Unsold Condo Inventory in Singapore Climbs to 16,219 Units

Whenever an inventory figure rises, the instinct is to assume a softening market. The reality in 2026 is more nuanced. Stock has edged up off a very low base, developers are still actively land-banking, and prices are grinding higher even as transaction volumes cool. For buyers, this is one of those rare moments where more choice and a calmer pace arrive at the same time. Understanding the unsold condo inventory in Singapore right now helps you decide whether to act or wait.

What the Latest URA Data Actually Shows

According to the Urban Redevelopment Authority, URA data confirms that unsold inventory rose quarter-on-quarter to 16,219 units in Q1 2026. Total unsold private residential inventory, excluding executive condominiums, increased by 8.08% quarter-on-quarter to 16,219 units in Q1 2026, of which 16,095 units were from uncompleted projects with planning approvals, and only 124 units were in completed licensed projects.

That one-quarter jump sounds dramatic until you look at the year-on-year picture. On a year-on-year basis, total unsold inventory was still down by 11.23% from 18,270 units in Q1 2025 and remained far below the previous peak of 37,799 units recorded in Q1 2019. In other words, stock has crept up off a multi-year low, not surged into oversupply.

Context matters even more when you measure it against absorption. In Q1 2026, total unsold inventory rose by 8.1% qoq to 16,219 units and remained low compared to the ten-year annual average of 21,498 units. Analysts estimate that going by the 10-year average of around 9,106 developer sales per year, the unsold stock as at Q1 2026 can potentially be absorbed in around two years, which we consider to be a relatively tight supply.

Why Inventory Rose While Sales Fell

The rise in unsold stock pairs with a sharp drop in transactions, which can look contradictory at first. In total, developers sold 2,013 new homes in 1Q 2026, a 31.5% decline from 2,940 units in the previous quarter. Developers also launched fewer homes, totalling 1,844 units, down from 2,632 units in 4Q 2025.

The slowdown was not a demand collapse. The softer performance in 1Q 2026 was largely due to a reduced launch pipeline and the typical Lunar New Year seasonal lull. Importantly, the projects that did launch sold well. Notably, half of the launches in 1Q 2026 achieved take-up rates of at least 90% at launch. Pinery Residences in Tampines is a clear example, where the uptick in OCR prices could be attributed to stellar sales at Pinery Residences, which sold over 90% of its units at precedent prices for condos launched in Tampines.

So inventory ticked up mostly because newly approved projects were added to the count faster than units were sold during a quieter launch quarter, not because buyers walked away. If you are weighing a purchase, our step-by-step guide to buying a new launch condo walks through how to read these signals at the project level.

Prices Kept Climbing Despite a Slower Quarter

Here is the part that frustrates fence-sitters. Based on the Urban Redevelopment Authority (URA) Property Price Index, prices for all private residential properties increased by 0.88% quarter-on-quarter and 3.41% year-on-year. The growth was driven by the suburbs, where the increase was led by the Outside Central Region (OCR) where prices climbed by 2.2% QOQ as this sub-market drove new home sales during the quarter.

Resale activity told a quieter story. In the first quarter of 2026, resale transactions for non-landed private homes (excluding ECs) declined by 41.9% quarter-on-quarter to 2,051 units, according to URA caveats. The reason is telling: buyer interest moved away from the resale market mainly because of the surge in new home launches in sought-after locations, giving buyers more options. For owner-occupiers comparing the two routes, understanding how TDSR and LTV limits affect your loan is essential before you commit either way.

How Low Inventory Feeds Developer Land-Banking

This is where the unsold inventory number connects to the next wave of supply. When stock is tight and launches sell out fast, developers compete harder for land. The continued momentum in the private residential market, supported by healthy new launch take-up rates and low levels of unsold inventory, has underpinned developer confidence and appetite for land banking.

The competition shows up in the tender numbers. Competition for GLS sites has picked up, with the average bidders per site (private residential and EC) in Q1 2026 rising to 4.5 compared to 4.2 bidders per site over the same period last year (Q1 2025). Land prices are climbing alongside, with recent land sales such as the Dover Drive GLS site which was sold at a new benchmark land price of $1,556 psf ppr in the Rest of Central Region.

One important caveat for buyers expecting cheaper launches: rising land costs tend to be passed on. The consultancy cautioned that potential increases in construction costs could make developers more selective when bidding for future sites. Selective bidding can mean fewer but pricier launches down the line.

The Supply Pipeline Beyond Today's Inventory

Unsold inventory is only one slice of the supply story. The completion pipeline is far larger and worth keeping in view. According to the URA, around 55,800 private residential units and executive condominiums are expected to be completed over the coming years. Near-term, 5,883 units scheduled for completion during the remainder of 2026 and 9,753 units in 2027.

There is also fresh land supply on the way. The 1H2026 Government Land Sales Confirmed List adds about 4,600 units, including 635 EC units, which URA says is 50% above the average half-yearly Confirmed List supply over the past decade. That points to a market where choice is being added steadily rather than dumped all at once. If an EC is on your radar, our EC buyer's guide and the HDB EC eligibility page are good starting points.

Opportunities Versus Risks for Buyers in 2026

The case for acting now is straightforward. With a slightly larger unsold pool and a heavier 2026 launch calendar including projects in Bayshore, Tengah and Media Circle, buyers have more options and less fear-of-missing-out pressure. As one analyst framed it, the modest price growth can also present a window of opportunity to enter the market where prospective buyers will not have to chase rapidly rising prices and be rushed into making a purchase for fear of being priced out later on.

• Opportunity: More launches and standing inventory mean room to negotiate and compare without rushing.
• Opportunity: Inventory is still below the 10-year average, so a sudden price crash is unlikely.
• Risk: Prices remain sticky. It appears that private home prices have become less sensitive to weaker sales volumes post-COVID. Waiting for a discount may not work.
• Risk: A heavy completion pipeline could pressure rental yields later. URA expects 8,489 and 10,358 units of private homes (ex. EC) in 2027 and 2028, respectively which may potentially put pressure on rentals in the future as the leasing stock grows.
• Risk: Global uncertainty is real. URA specifically noted the uncertain macroeconomic outlook and said households should continue to exercise prudence when buying property and taking mortgage loans.

For HDB owners eyeing a move into this market, our guide to upgrading from HDB to condo without paying ABSD and a quick refresher on stamp duty including BSD and ABSD will help you size up total costs. You can confirm the official rates directly on the IRAS ABSD page.

The 16,219-unit headline is best read as a signal of a market that is normalising, not weakening. Inventory off a low base, sticky prices, and aggressive land-banking all point to a measured environment where the smart move is project-level diligence rather than broad-brush timing bets. If you would like a clear, independent read on which launches or resale units suit your budget, financing position and risk appetite, reach out to the team at PropertyNet.SG for a no-obligation, personalised consultation. We will help you cut through the headlines and build a plan grounded in the actual numbers that matter to your purchase.