Singapore new home sales hit two-year low of just 197 units in December

Blame it on the limited launches and seasonal lull.

Developers’ sales of new private homes in Singapore fell to a near two-year low in December, weighed down by a year-end seasonal lull and a sharp pullback in new project launches, according to data released by PropNex.

PropNex said developers sold just 197 new private homes, excluding executive condominiums (ECs), during the month. This marked the weakest monthly performance since February 2024, when 153 units were sold. December sales were down 39% month-on-month from the 325 units transacted in November and 3% lower year-on-year compared with the 203 units sold in December 2024.

According to PropNex, the slowdown was largely due to the lack of fresh supply. Only one new project was launched during the month — the 186-unit landed housing development Pollen Collection II in District 28 in the Outside Central Region (OCR). Developers launched just 52 new units for sale in December, all from Pollen Collection II, representing an 85% decline from the 347 units launched in November.

Despite the weak December showing, PropNex highlighted that overall new home sales performance for the year was strong. Including December’s transactions, developers sold an estimated 10,821 new private homes (excluding ECs) in 2025, about 67% higher than the 6,469 units sold in 2024. PropNex noted that this is the highest annual new home sales volume in four years.

RCR leads December sales

PropNex said December sales were driven mainly by the Rest of Central Region (RCR), where 110 new units were sold. The top-selling RCR project was The Continuum, which moved 31 units at a median price of $2,498 per sq ft. Based on caveats lodged, PropNex noted that 22 of the 31 units sold were smaller homes of about 560 sq ft.

The freehold development along Thiam Siew Avenue has sold 672 out of its 816 units, or about 82%, since its launch in May 2023. Another contributor to RCR sales was Nava Grove, which sold 15 units at a median price of $2,641 per sq ft. PropNex said the 552-unit development was 94% sold as at the end of December.

OCR and CCR activity muted but set to improve

In the OCR, developers sold 67 new homes in December. PropNex said newly launched Pollen Collection II led sales in the sub-market, with 17 terrace houses sold at a median price of $2,599 per sq ft. Looking ahead, PropNex expects OCR sales to pick up in January with the upcoming launch of the 540-unit Narra Residences in the Dairy Farm area.

Sales in the Core Central Region (CCR) eased further, falling to 20 units in December from 30 units in November, according to PropNex. The best-performing CCR project during the month was UpperHouse at Orchard Boulevard, which sold seven units at a median price of $3,410 per sq ft.

PropNex added that the most expensive new private home sold in December was a 4,489-sq-ft unit at 21 Anderson, which fetched $23.3 million. Looking ahead, the firm said the launch of the 246-unit Newport Residences on Anson Road in January could help lift transaction volumes in the CCR. The freehold mixed-use development is located within the central business district.

EC sales rise, more supply coming

In the executive condominium segment, PropNex noted that sales improved despite the overall market slowdown. A total of 37 new EC units were sold in December, up 76% from the 21 units sold in November. Otto Place EC was the top-performing project, selling 28 units at a median price of $1,751 per sq ft.

PropNex expects EC sales to receive a significant boost in January with the launch of the 748-unit Coastal Cabana EC in Pasir Ris. The agency said demand for ECs typically remains strong among first-time homebuyers and HDB upgraders. As at the end of December, there were just 17 unsold new EC units available on the market, based on URA data cited by PropNex.

Overall, PropNex said the December slowdown reflects timing and supply constraints rather than a deterioration in underlying demand, with transaction volumes expected to rebound as more projects are launched in the coming months.