Singapore private home prices to rise by 3-4% this year

This is with more CCR and RCR projects expected to be launched.

Generally, PropNex analysts expect that Singapore’s overall private home prices may remain sticky, underpinned by several factors including: 1) strong financial holding power among home owners and developers; 2) macroprudential/cooling measures implemented previously have helped to stabilised the market; and 3) high construction cost and land price limiting the scope for price cuts by developers.

Wong Siew Ying, Head of Research & Content at PropNex Realty, noted that in March, foreign buyers (non-PR) accounted for 1.4% of the new non-landed private home sales (ex. EC), or 10 caveats in absolute terms. “These transactions are for units at Hillock Green, Lentor Central Residences, Lentor Mansion, Meyer Blue, Parktown Residence, The Avenir, Union Square Residences, and Watten House. Meanwhile, Singapore PRs and Singaporean buyers made up about 9% and 89% of the sales during the month, respectively,” Wong said.

Based on monthly home sales figures, developers have sold 3,409 new private homes (ex. EC) in Q1 2025 – already more than half of the 6,469 units transacted in the entire 2024.

“For now, PropNex is retaining its projections for new home sales at 8,000 to 9,000 units (ex. EC) this year, supported by the ample supply of new launches lined up. Meanwhile, we anticipate that overall private home prices may potentially climb by 3% to 4% in 2025, in view of more CCR and RCR projects that may be launched for sale,” Wong noted.

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