Singapore new private home sales drop 9% to 663 units in April

Three new projects were launched in April.

According to PropNex, Singapore developers’ sales dipped in April from March, partly on concerns arising from the US tariffs, as well as a lack of mass market new launches during the month.

There were 663 new private homes (ex. executive condos) sold in April, down by 9.1% from the 729 units transacted in the previous month. On a year-on-year basis, developers’ sales more than doubled from the 301 units shifted in April 2024.

Here’s more from PropNex:

There were three new projects launched in April, two being the 358-unit Bloomsbury Residences in Media Circle, and the 937-unit One Marina Gardens in Marina South. They are the first private housing projects to hit the market in their respective new housing precincts. The two projects collectively sold 491 units, accounting for about 74% of the monthly new home sales. Meanwhile, a freehold luxury boutique development 21 Anderson was also launched for sale during the month.

In April, developers launched 1,344 new units (ex. EC) for sale, which is a 142% jump from the 555 units launched in March.

With both new launches – Bloomsbury Residences and One Marina Gardens – located in the Rest of Central Region (RCR), it is not unexpected that this sub-market led sales in April. Developers sold 551 new units in the RCR in the month – more than six times higher than the 87 units transacted in March.

The sales were mainly from One Marina Gardens which sold 384 units at a median price of $2,948 psf, and Bloomsbury Residences which moved 107 units at a median price of $2,454 psf. Other RCR projects such as Grand Dunman and The Continuum also continued to pare down on unsold stock, selling 14 units and 11 units, respectively in April.

The Outside Central Region (OCR) made up 14% of April’s sales, with 95 new private homes (ex. EC) sold during the month. This is a sharp 84% fall from the 596 units transacted in March, where the launch of Lentor Central Residences had helped to lift OCR sales then. The 95 units sold in April is the lowest monthly sales tally in 14 months, since 58 OCR units changed hands in February 2024. The best-selling OCR projects in April were Parktown Residence which sold 17 units at a median price of $2,368 psf, and Lentor Mansion which moved 12 units at a median price of $2,183 psf.

Over in the Core Central Region (CCR), developers’ sales remained relatively tepid, with 17 new units sold in April – representing a 63% decline from the 46 units shifted in the previous month. This is also the slowest monthly sales in the CCR since September 2024, where 15 new units were transacted in this sub-market. The CCR projects that topped sales in April were Hill House which sold 4 units at a median price of $3,017 psf, and 21 Anderson which transacted 3 units at a median price of $4,811 psf.

In the EC segment, developers sold 96 new units, markedly lower than the 781 units transacted in March, where the 760-unit Aurelle of Tampines had turbocharged EC sales. In April, Aurelle of Tampines once again led EC sales – shifting 54 units at a median price of $1,764 psf. Of note, the 616-unit North Gaia in Yishun is now fully sold, after shifting two units in April. 

As at end-April, there were only 52 units of unsold new ECs on the market. The limited EC supply will be supportive of sales at the upcoming Otto Place EC in Plantation Close, which is expected to be launched in the second half of the year.