Singapore's prime residential market is set to be one of the world's stronger performers for the remainder of 2026, with capital values forecast to rise by 2% to 3.9% in the second half of the year, according to Savills' latest World Cities Prime Residential Index. That would place Singapore among just seven of the 30 world cities tracked, alongside Cape Town, Seoul, Kuala Lumpur, Lisbon, Madrid and Barcelona – expected to record growth of 2% or more in H2 2026.

The forecast follows a first half of 2026 in which Singapore's prime capital values edged up 0.4%, while prime rents climbed 1.7%, comfortably ahead of the 1.1% average rental growth recorded across the 30 cities in the index, and up from a 0.5% average in the second half of 2025.

At an average of US$1,850 per sq ft (psf) as at June 2026, Singapore remains the most expensive prime residential market tracked in Southeast Asia, more than six times the price of Kuala Lumpur’s US$280 psf and around 65% above Bangkok (US$1,120 psf). Globally, Singapore ranks 10th of the 30 cities on price, more expensive than Milan, Rome, Lisbon and Los Angeles, though still well below Hong Kong (US$3,750 psf) and Tokyo (US$3,140 psf), the world's priciest prime markets.

Singapore's prime rents, at US$1.06 psf per week, rank joint-eighth globally alongside Milan – ahead of regional peers Seoul, Bangkok and Kuala Lumpur.

Singapore's modest but positive performance stands out against a more volatile backdrop across Asia Pacific. Tokyo was the world's strongest-performing market in the index, with capital values up 7.0% in H1 2026 and 20.4% year-on-year, driven by strong demand and an acute shortage of prime housing stock. Seoul also posted strong gains, with capital values up 4.1% and rents up 4.4%, as some buyers brought forward purchase decisions in anticipation of further price growth.

Elsewhere in the region, performance was mixed. Hong Kong's prime market was broadly flat over the half-year. Four of the five Chinese cities tracked – Beijing, Shenzhen, Guangzhou and Shanghai – recorded capital value declines, while Bangkok saw one of the sharpest falls in the index, with capital values and rents both down more than 5%, reflecting subdued demand and the repricing of several major projects. Sydney's prime capital values also slipped, down 3.3%, even as rents there rose 2.8%.

The Singapore and regional picture forms part of a broader global trend of resilience despite a tougher operating environment. Across all 30 cities tracked by the index, average prime residential capital values rose 0.6% in the six months to June 2026, with 60% of cities recording positive capital value growth despite heightened geopolitical uncertainty, including tensions in the Middle East. Average prime rents rose 1.1% globally, extending a trend of rental growth outpacing capital values that has held since mid-2022, as affordability constraints and economic uncertainty prompt more buyers to prioritise flexibility over ownership.

Savills expects this pattern of positive but moderate, and increasingly localised, growth to continue into H2 2026. Global capital values are forecast to rise by 0.5% on average across the 30 cities, with growth anticipated in 16 markets, 10 expected to remain flat and only four forecast to decline.

Alan Cheong, Executive Director, Research & Consultancy, Savills Singapore commented, "The relatively modest growth in Singapore's prime residential values in the first half masks a market that remains fundamentally well supported. Underlying demand remains resilient, while higher land prices over the past two years continue to support pricing expectations. Against this backdrop, we expect prime residential values to see stronger growth in the second half of the year."

"While the era of synchronised global growth appears to be in the past for now, the outlook for prime residential markets remains resilient. Cities able to combine constrained supply, strong household wealth creation and sustained international demand are likely to outperform, while those with elevated supply or heightened uncertainty may continue to lag," said Kelcie Sellers, Associate Director, Savills World Research. "In this environment, selecting the right city will become increasingly important, with relative value, lifestyle appeal and long-term economic fundamentals set to remain the defining drivers of prime residential performance through the remainder of 2026."

Table - Singapore and Asia Pacific snapshot – H1 2026 performance vs H2 2026 forecast