Singapore private home prices up 0.7% in Q4

The landed housing segment was a key driver.

According to a PropNex release, prices of private homes in Singapore inched up by 0.7% QOQ in Q4 2025, following the 0.9% QOQ increase in the previous quarter, based on the flash estimates from the Housing and Development Board (HDB).

“The price growth in Q4 2025 was mainly driven by the landed housing segment. This is the fifth consecutive quarter of price increase and private home prices have posted a cumulative growth of 3.4% in 2025 – a shade lower than the 3.9% increase in 2024,” the analyst said.

Here’s more from PropNex:

In Q4 2025, the landed homes segment led price increase, with a 3.5% QOQ price growth – its strongest quarterly growth in two years. This is despite fewer transactions done in the quarter at 491 deals compared with the 559 landed homes sold in Q3 2025, according to caveats lodged. Landed home prices found renewed strength since Q2 2025, and have risen by 7.7% cumulatively in 2025 which is significantly higher than the 0.9% increase in 2024 – as lower interest rates likely boosted sentiment.

Over in the non-landed private homes segment, prices dipped by 0.1% QOQ in Q4 2025, reversing the 0.8% QOQ increase in the previous quarter. This is the first decline in non-landed private home prices since Q2 2023. Within the non-landed homes market, the Outside Central Region (OCR) saw the largest price increase in Q4 2025 at 1.0% QOQ, taking the cumulative price growth in 2025 to 3.2% in the sub-market – slowing from the 3.7% growth in 2024. There was just one mass-market new launch during the quarter, namely Faber Residence which has sold around 91% of its 399 units (at an average price of $2,155 psf) since the project was launched in October, according to URA Realis caveat data.

This is followed by the Rest of Central Region (RCR) where non-landed home prices notched a 0.7% QOQ increase in Q4 2025, leading to a cumulative price gain of 1.6% in 2025 – substantially lower than the 5.8% growth in 2024. The price growth in Q4 came on the back of healthy take-up of units at new launches, such as Penrith and Zyon Grand. As at 21 December 2025, Penrith sold 448 of its 462 units at an average price of $2,804 psf, while caveat data showed that Zyon Grand shifted 608 of its 706 units at an average price of $3,053 psf in Q4 2025. The Sen sold 22% of its units at an average price of $2,357 psf.

Meanwhile, prices in the Core Central Region (CCR) snapped a 4-quarter growth streak, falling by 3.2% QOQ in Q4 2025, overturning the 1.7% QOQ growth in the previous quarter. The decline in Q4 may be partly due to a larger number of new units being sold at higher average prices in Q3 2025. Cumulatively, non-landed home prices in the CCR have risen by 2.2% in 2025, easing from the 4.5% increase in 2024. The CCR new launch in Q4 was Skye at Holland which has transacted 99% of its 666 units at an average price of $2,954 psf since its launch in October, based on caveats lodged (till 21 December).

Transactions in Q4 2025 and full-year 2025

New private home sales came in at an estimated 2,882 units (ex. EC) in Q4 2025 and transactions surged to a four-year high in 2025, with developers selling a total of 10,757 units (till 21 December) – up by 66.3% from the 6,469 new units (ex. EC) that changed hands in the whole of 2024. In 2025, the RCR led developers’ sales with 4,448 units sold, followed by the OCR and CCR with 4,404 and 1,905 units transacted, respectively. Of note, all sub-markets posted four-year high new home sales in 2025, since 5,433 RCR new homes, 5,073 OCR units, and 2,521 CCR units were transacted in 2021.

In the private residential resale market, an estimated 2,954 units were resold in Q4 2025, taking the overall resale volume to 14,047 units in the year (till 23 December). This is relatively comparable to the 14,053 resale units that were transacted in 2024. In particular, there were 2,592 units resold in the CCR, the highest resale tally in this sub-market in four years – likely supported by the confidence boost from the strong rebound in CCR developers’ sales and new launches bringing more attention to prime districts and nearby resale stock.

Over in the EC segment, developers sold 73 new units in Q4 2025 (till 21 December), pushing sales to an estimated 1,623 new EC units in 2025 – a four-year high since 2,119 EC units were transacted in 2021. Sales of new EC units are expected to rebound in Q1 2026 with two new projects (Coastal Cabana and Rivelle Tampines) slated to be launched.