Singapore new home sales to grow by nearly 40% in 2025

Sales are expected to grow from 6,469 units in 2024 to 9,000 in 2025.

Singapore’s primary residential market was quiet in May, with 312 new private homes (ex. EC) sold – the lowest monthly sales this year. Wong Siew Ying, Head of Research & Content at PropNex Realty, noted that this is mainly due to the lack of new project launches in the month, where the 2025 Singapore General Elections also took place.

“With limited new projects coming on the market in June, coupled with the school holidays where many families typically travel abroad, we expect new home sales to remain relatively muted. In June, there are no major launches lined up, apart from a private placement (limited units released and by invitation only) conducted at Arina East Residences where it transacted nine of its 107 units,” Wong added.

Here’s more from PropNex:

Based on caveats lodged, the median transacted unit price of non-landed private homes in the CCR rose by 3.8% MOM in May, influenced by a slightly higher proportion of units sold at $3,000 psf and above during the month amid a low transaction volume. Meanwhile, the lack of new launches in May has put a drag on the median unit price in the RCR in May, while that of the OCR was relatively on par with the median transacted $PSF price in the previous month.  

Overall, foreigners (non-PR) accounted for about 2.3% of the non-landed new private home sales (ex. EC) in May 2025, slightly lower than the 2.5% proportion in the previous month. In absolute terms, there were seven deals by foreigners (NPR) in May, comprising five transactions at One Marina Gardens, and one each in Chuan Park and Parktown Residence. Meanwhile, Singapore PRs and Singaporeans made up about 14.5% and 83.3% of the non-landed new private home sales (ex. EC), respectively in May.

Developers’ sales are projected to climb in July and August with a clutch of new projects lined up across the mass market to luxury home segments. They potentially include W Residences Singapore – Marina View, Artisan 8 in Sin Ming Road, LyndenWoods in Science Park Drive, UpperHouse at Orchard Boulevard, Otto Place (EC) in Tengah, The Robertson Opus in Unity Street, Promenade Peak in Zion Road, River Green in River Valley, Springleaf Residence in Upper Thomson Road, and Canberra Crescent Residences.

In the first five months of 2025, developers have transacted 4,350 new private homes (ex. EC), more than two times the 1,688 units sold over the same period in 2024. For the full-year 2025, PropNex expects the new home sales volume to come in at around 8,000 to 9,000 units (ex. EC) – higher than the 6,469 units sold in the whole of 2024.