This Was Singapore’s Best-Selling Condo In May — Nearly 80% Of Buyers Paid Below $2.5 Million

A consortium of developers led by Qingjian Realty sold at least 209 units (63%) at Hudson Place Residences during the month of May 2026. This is a small step up compared to the 201 units that the developers sold during the project’s initial sales launch over the May 16-17 weekend.

All in, the median price at the 327-unit Hudson Place Residences is $2,465 psf, which is broadly in line with the average selling price of $2,458 psf during its opening sales weekend.

The latest sales result at Hudson Place Residences is a key highlight for the month of May in the primary market, accounting for 47% of all new units sold by developers last month. This makes Hudson Place Residences the best-selling new project in terms of units sold over the month-long period.

For a more in-depth review of Hudson Place Residences, read our coverage of the project here.

Wong Siew Ying, head of research and content at PropNex Realty, says that the sales success of Hudson Place Residences highlights the importance of pricing discipline in today’s market.

She points to URA transaction data which shows that about 80% of the units sold at Hudson Place Residences went for less than $2.5 million, which is the housing budget pricing sweet-spot for many owner-occupier buyers.

“Pricing aside, the project’s healthy sale performance also suggests that the one-north precinct resonates with homebuyers, and may provide a useful gauge of buying demand in the area when developers evaluate future government land sales sites in the neighbourhood,” says Wong.

Proportion of units sold at Hudson Place Residences in May 2026 by price range

Price range	HUDSON PLACE RESIDENCES
$1 mil to <$1.5 mil	4.8%
$1.5 mil to <$2 mil	60.3%
$2 mil to <$2.5 mil	14.8%
$2.5 mil to <$3 mil	17.7%
$3 mil to <$3.5 mil	0.5%
$3.5 mil to <$4 mil	1.4%
$4 mil to <$4.5 mil	0%
$4.5 mil to <$5 mil	0.5%
Total	100%
Proportion below $2.5 mil	79.9%

Source: PropNex Research, URA Realis (retrieved on 15 June 2026)

Marcus Chu, CEO of ERA Singapore, says that the pricing strategy adopted by Qingjian and its partners positions Hudson Place Residences as a strong value proposition for buyers looking for new homes in the RCR market.

He explains that the median new sale price of $2,465 psf recorded so far at the development, is 6.5% lower than the 5-month Rest of Central Region (RCR) non-landed new sale median of $2,635 psf.

“This highlights the underlying demand for affordably priced homes near the city fringe,” says Chu, adding that the development also adds new private housing supply to support one-north’s continued growth as a key commercial and research node.

The price sensitively exhibited by most buyers in the new launch market is also reflected in the sale of new units that closed last month.

According to data compiled by CBRE, the volume of two-bedroom units sold at Hudson Place Residences ranged from $1.5 - $2 million, which accounted for 37% of new private homes sold (excluding. ECs) in May 2026. It was followed by units that were priced from $3 - $5 million which accounted for 17% of developer sales.

Taking a step back, the Rest of Central Region (RCR) led the way in terms of new home sales last month, largely thanks to the strong sales at Hudson Place Residences which was also the first new project in that region this year.

Other projects in the RCR that continued to pare down on unsold units were:

• The Continuum saw 19 units sold at a median price of $2,7752 psf
• Union Square Residences also moved 19 units at a median price of $2,800 psf
• One Marina Gardens sold 18 units at a median price of $2,976 psf
• Bloomsbury Residences moved 13 units at a median price of $2,575 psf

Despite these sales, May was not a strong month for most developers. The total number of new units sold by developers fell to a three-month low, due to the limited number of new project launches last month. Hudson Place Residences was the only new project to hit the market last month.

In the suburbs, or Outside Central Region (OCR), only 91 new private homes were sold, led by transactions at Tengah Garden Residences and Narra Residences. Meanwhile, Newport Residences in the Core Central Region (CCR) sold six units last month - the most of any new projects in the region.

Top-Selling Private Residential Projects (ex. EC) in May 2026

S/N	Project	Region	Units sold in May 2026	Median price in May 2026 ($PSF)
1	HUDSON PLACE RESIDENCES	RCR	209	$2,465
2	THE CONTINUUM	RCR	19	$2,752
3	UNION SQUARE RESIDENCES	RCR	19	$2,800
4	ONE MARINA GARDENS	RCR	18	$2,976
5	TENGAH GARDEN RESIDENCES	OCR	14	$2,230
6	NARRA RESIDENCES	OCR	14	$2,151
7	BLOOMSBURY RESIDENCES	RCR	13	$2,575
8	CHUAN PARK	OCR	13	$2,641
9	THE SEN	RCR	12	$2,410
10	ELTA	OCR	11	$2,521

There were only 447 new private homes sold last month, marking a sharp 71.1% decline compared to the 1,548 units sold in April 2026. Collectively, developers have sold 4,008 new condos units (excluding executive condos) in the first five months of this year.

“To set May’s relatively sluggish home sales in context, it is largely due to a quieter project launch calendar,” says Wong. “We do not think it points to softer demand nor weaker sentiment, and developers’ sales are expected to pick up in July where a couple of new projects – Lentor Gardens Residences and Dunearn House – are anticipated to be launched”.

But she cautions that the new private home sales will continue to be tepid in June amid the seasonal lull caused by the June school holidays and the absence of any major new project launches.

Leonard Tay, head of research at Knight Frank Singapore explains that the number of fresh units introduced to the market in the form of project launches is directly correlated to whether each month’s tally is robust or dull.

More than anything, this influences buyer behaviour more than external shocks like military conflict and political tensions in the Middle East, he says.

Looking ahead, even though there are signs that the latest conflict in the Middle East have diffused to a large extent, global energy prices may still take time to adjust back to pre-war levels, while inflationary and interest rates pressures may stay elevated for a while longer, says Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group.

“Currently, our mortgage rates are still low when compared to the peak rates two years ago. Borrowing costs are still favourable and attractive to homebuyers as potential rate hikes, if any, are expected to be gradual,” says Sun.

In general, the 3-Month Compounded SORA (Singapore Overnight Rate Average), which banks used to price home loan packages, stood at 1.085% p.a. as of 15 June 2026. There is a general expectation that the US Federal Reserve may hold off on further rate hikes in 2026, and this will offer clarity in terms of borrowing costs for the remainder of the year.

Moreover, the strong take-up rates seen across most of the new project launches over the past five months also underscores the continued resilience in private housing demand, says Sun.

Other factors that would support the private residential market here include healthy household balance sheets, a stable labour market, sensitive pricing by developers, and enduring private housing aspirations among Singaporeans.

“The underlying demand for well-located and sensibly priced new launches is likely to remain supported. Households who held back amid uncertainty may be encouraged into a buying decision, with the perception that current prices still offer long-term value,” says Tay.

However, he cautions that recent job layoffs partially contributed by Artificial Intelligence (AI) adoption, while not yet widespread, may cause unemployment to rise above current stable levels. If this comes to pass, homebuyer sentiment in Singapore could be restrained by cautiousness.