How did Singapore residential investment sales fare in Q3?

Both public and private sectors saw a surge in transaction values.

Residential investment sales in Singapore reached nearly S$5.0 billion in Q3/2025 according to data from a Savills report, representing a more than twofold increase from the S$2.01 billion recorded in the previous quarter.

Transaction values surged in both the public and private sectors, increasing QoQ by 189.1% and 105.8%, respectively.

Here’s more from Savills:

Under the GLS Programme, four 99-year private residential land parcels were awarded during the quarter. A joint venture (JV) comprising Frasers Property, Sekisui House, and CSC Land outbid eight other contenders to secure the Dunearn Road site with the highest bid of nearly S$491.5 million, equivalent to S$1,410 per sq ft per plot ratio (psf ppr). Sim Lian Group clinched the Holland Link site with the top bid of S$368.4 million (S$1,432 psf ppr) in a tender that attracted five bids.

Additionally, a consortium of Sing Holdings Residential and Sunway Developments won both sites at Chuan Grove. For the first that was launched for sale in December last year which the consortium won, there were seven bids, with the top bid at S$703.6 million (S$1,376 psf ppr), and for the second site, launched for sale in May 2025, there were five bids with a top bid of S$623.9 million, reflecting a slightly lower land rate of S$1,331 psf ppr.

Developer participation in tenders for private residential sites awarded in Q3/2025 showed a notable increase, with an average of 6.5 bids per site, significantly higher than the levels seen over the past two years and in the first half of 2025. A substantial rise in new launches, coupled with improved market sentiment supported by falling interest rates, has boosted new home sales in Singapore since Q4/2024. This, along with the release of GLS land parcels in well-located areas, has fuelled developers’ confidence, although they remain cautious.

During the same quarter, three EC sites were also awarded under the GLS Programme. City Developments Limited (CDL) secured two EC sites at Senja Close and Woodlands Drive 17 with top bids of S$252.9 million (S$771 psf ppr) and S$360.9 million (S$782 psf ppr), respectively. These set the two highest historical land rates for such sites, underscoring the developer’s confidence in this special class of public-private hybrid housing.

Meanwhile, the EC site at Sembawang Road was awarded to Oriental Pacific Holdings with the highest bid of S$197.8 million. The land rate of S$692 psf ppr marks the first time as an EC GLS site has fallen below S$700 psf ppr since 2023. Located adjacent to a landed housing enclave, the site is expected to be Singapore’s first low-rise EC, which may explain the relatively lower land price. Developer participation in tenders for these EC sites remained stable compared to last year, ranging between four and five bids per site.

Owing to the non-unsignificant supply of GLS sites, coupled with the wide price gap between sellers and buyers, the collective sales market for private residential sites remained lukewarm. After the sale of River Valley Apartments in February, another successful deal was recorded in Q3/2025. Chiku Mansions, a four-storey walk-up residential block located in Joo Chiat, was sold en bloc in September to Macly Group for approximately S$22.2 million, or S$1,180 psf ppr. The 13,453 sq ft freehold site is expected to be redeveloped into a new boutique residential project.