Singapore new home sales plummet to 9-month low in September

Only 255 new private homes were sold during the month.

According to a PropNex release, following the blockbuster sales in August, private new home sales fell to a nine-month low in September amid a dearth of project launches. Developers sold 255 new homes (ex. EC) during the month, marking a sharp 88% plunge from the 2,142 units transacted in August, and a 36% decline year-on-year from the 401 units shifted in September 2024.

“The lower transaction volume was mainly due to the lack of launches as the market took a breather amid the Lunar Seventh Month (ghost month). Developers’ sales are expected to make a swift recovery in October, with the first launch this month already almost sold-out,” the release said.

Here’s more from PropNex:

There were no new projects put on the market in September. Developers launched 20 new units during the month - all coming from existing launch The Myst. This markedly lower than the 2,496 new units that were launched for sale in August.

The Rest of Central Region (RCR) led sales in September, with developers moving 125 new units – down from the 476 units sold in the previous month. The most popular RCR projects in September were Grand Dunman which sold 24 units at a median price of $2,508 psf and Tembusu Grand which transacted 12 units at a median price of $2,393 psf. RCR sales are expected to pick up in October with two new launches lined up – the 462-unit Penrith in Margaret Drive and the 706-unit Zyon Grand in Kim Seng Road.

Over in the Outside Central Region (OCR), developers sold 84 new units (ex. EC) in September which represents a 93% drop from the 1,153 units transacted in August, where the robust demand at Springleaf Residence then had spurred sales. Canberra Crescent Residences – which also hit the market in August – was the best-selling OCR project in September, shifting 28 units at a median price of $2,001 psf. The upcoming launch of the 399-unit Faber Residence is anticipated to help drive OCR sales in October, in view of the attractive starting prices which could appeal to owner-occupiers and property investors.

Meanwhile, developers’ sales also declined significantly in the Core Central Region (CCR) where 46 new homes were sold in September – down from 513 units in the previous month. River Green and The Robertson Opus were the two top-selling CCR projects during the month, shifting 16 units at a median price of $3,201 psf and 10 units at a median price of $3,404 psf, respectively.

The CCR has enjoyed something of a renaissance recently, with more than 900 new private homes sold in Q3 2025, which is the highest quarterly new sales in the CCR since Q4 2010. October’s CCR sales will see a spike given the strong sales at Skye at Holland during its recent launch, where 658 out of 666 units (99%) were snapped up.  

In the EC segment, developers shifted 15 EC units in September, 92% lower than the 196 units sold in August. Otto Place EC was the top-seller, moving 8 units at a median price of $1,790 psf. The slower EC sales can be attributed to a lack of new EC launches, as well as the tight supply of unsold EC units on the market. Based on URA figures, there were only 66 units of unsold new ECs from launched projects, as at the end of September.