Nearly one in five homes resold in Singapore's prime Core Central Region (CCR) in the third quarter of 2026 changed hands for less than the seller paid. According to data compiled by Cushman & Wakefield (C&W) for The Business Times, 19.5% of CCR resale deals in Q3 2026 were made at a loss, up from 17.7% in the previous quarter.
That sounds alarming, but the detail matters. Islandwide, about 95% of these sellers did not lose money, and the biggest dollar gains of the quarter were also in the CCR. Here is what the numbers show and what they mean if you are buying a prime home today.
The headline numbers
C&W studied caveats for private homes sold in Q3 2026 that had a previous purchase within the preceding 10 years. Of the 2,021 matched transactions, 93 were sold at a loss, roughly one in 22 deals.
| Region | Share of resales at a loss, Q2 2026 | Share of resales at a loss, Q3 2026 | Share of all loss-making deals, Q3 2026 |
|---|---|---|---|
| Core Central Region (CCR) | 17.7% | 19.5% | 49% |
| Rest of Central Region (RCR) | 2.7% | 4.5% | 30% |
| Outside Central Region (OCR) | 1.3% | 1.6% | 20% |
| Islandwide | 3.7% | 4.6% | 100% |
The islandwide share of 4.6% was up from 3.3% a year earlier and was the highest since Q2 2022, when 6.9% of resale transactions were made at a loss.
This came in a quarter when official prime prices barely moved. URA's final Q3 2026 statistics show non-landed CCR prices rose just 0.3%, after a 1.8% rise in Q2, while the OCR rose 2.3% and the RCR was unchanged. Overall private home prices rose 1.4%.
Where the losses were: 99-year homes in the city
C&W's analysis showed that the five biggest loss-making non-landed deals, by both percentage and dollar amount, were all for 99-year leasehold homes in the CCR.
| Biggest losses by quantum | Sold (S$m) | Bought (S$m) | Loss (S$m) | Loss (%) |
|---|---|---|---|---|
| OUE Twin Peaks | 3.9 | 4.9 | -1.0 | -20.2% |
| V on Shenton | 3.1 | 3.9 | -0.7 | -18.8% |
| Marina One Residences | 2.4 | 3.1 | -0.7 | -21.4% |
| Marina One Residences | 1.3 | 1.8 | -0.6 | -31.6% |
| Cape Royale | 3.2 | 3.7 | -0.5 | -13.8% |
The steepest percentage loss was a 710 sq ft unit at Marina One Residences, sold for S$1.25 million in August, about 32% below the S$1.83 million paid in July 2018: an annualised loss of 4.6% over 8.1 years. The largest dollar loss was a 1,604 sq ft unit at OUE Twin Peaks, sold for S$3.88 million after being bought for S$4.9 million in March 2017, a gross loss of about S$1 million.
Where the gains were: freehold
The other side of the CCR story is just as striking. Three of the five most profitable deals by dollar amount in Q3 were for CCR homes, and all five of the biggest gains by quantum were in freehold developments, which C&W's Wong Xian Yang said "tend to command a premium".
- Leedon Residence: a 4,704 sq ft unit sold for S$14.3 million in July, a S$3.75 million profit over the 2017 purchase price of S$10.55 million (35.5%, or 3.3% a year over 9.5 years).
- Grange Residences: sold for S$10.8 million against S$8.0 million paid, a gain of about S$2.8 million (35%).
- Rivergate: sold for S$6.4 million against S$4.0 million, a gain of about S$2.3 million (57.8%).
Profit margins are narrowing overall, though. The median gain among profitable resale and sub-sale deals fell to 24.8% in Q3, from a peak of 30.4% in Q2 2025.
"With overall private residential prices at their historical highs coupled with current global macroeconomic uncertainty, buyers are expected to be more selective and future resale performance would vary more widely across developments," said Wong Xian Yang, head of research for Singapore and South-east Asia at Cushman & Wakefield.
What this means for prime buyers
- "CCR" is not one market. The biggest losses were in 99-year leasehold developments, while the quarter's biggest gains were all in freehold ones. Look at the specific location, tenure and buyer profile, not the regional label.
- Entry price drives the outcome. The two largest losses were on units bought in 2017 and 2018 that still sold for 20% to 32% less some eight to nine years later. Compare a new launch's psf with completed resale homes nearby before you commit.
- Remember the costs not shown here. C&W's figures exclude stamp duties and transaction costs, so real returns are lower. Buyer's stamp duty and ABSD on a high-value home are explained in our guide to stamp duty on a S$10 million home, and selling early can trigger seller's stamp duty, covered in this explainer on the July 2025 SSD changes.
- Scarcity helps. Small freehold buildings with few units, such as the 14-unit 32 Gilstead freehold condo in District 11, face less competition from identical units when an owner comes to sell.
- Plan to hold. The quarter's biggest dollar gain, at Leedon Residence, worked out to 3.3% a year over 9.5 years. Prime homes suit long-term owners more than short-term traders.
For a side-by-side look at freehold and leasehold projects in the prime residential belt, see our District 10 condo guide, and our report on the Amberwood at Holland launch for how new 99-year pricing in the district compares.
If a completed freehold home in District 10 fits your plans, 21 Anderson has two homes left as at 23 September 2026: a 3,197 sq ft ground-floor 2-bedroom with a guide price of S$10 million and a 4,489 sq ft 4-bedroom at S$25 million, in a building of just 18 homes. WhatsApp us on +65 8866 9422 to arrange a private viewing or to talk through resale and new-launch options in the prime districts.
This article is for general information only and is not financial or investment advice. Figures are as reported by the sources below at the time of writing and may change.
