
Which segment in Singapore saw the biggest slowdown in condo prices?
Non-landed home prices in this area only inched up by 0.3%.
The URA property price index for all private residential properties in Singapore grew by 0.8% QoQ in Q1/2025 after a 2.3% increase in the previous quarter. According to a Savills report, prices of both landed and non-landed homes increased, with a larger growth of 1.0% from non-landed homes.
“Prices of landed homes expanded 0.4% in the quarter, rebounding from the past two consecutive quarters of decline. For non-landed homes, the price growth was slower than the 3.0% increase registered in Q4/2024, with a 1.0% growth in the reviewed quarter,” the report said.
Here’s more from Savills:
Across the three market segments, the largest slowdown in non-landed home prices was recorded in the OCR. Prices of non-landed homes in OCR rose for the second consecutive quarter by 0.3% QoQ in Q1/2025. In the previous quarter, it rose by 3.3%. Prices for non-landed homes in the CCR grew for the second consecutive quarter by 0.8% in Q1/2025, moderating from the 2.6% increase in the previous quarter.
Prices of non-landed homes in RCR rose up for the fifth consecutive quarter by 1.7%, slowing down from the 3.0% growth in Q4/2024. Among the three market segments, the RCR was the only market segment that saw a significant increase in the median price of new sale units, rising 3.6% in the quarter.
For the basket of luxury non-landed private residential projects tracked by Savills, prices of such properties remained strong, as it recorded another QoQ growth of 0.6% to S$2,612 psf in Q1/2025, similar to the pace seen in Q4/2024. This was the second consecutive quarter of increase. On a YoY basis, prices picked up with a 0.7% increase, after remaining flat in Q4/2024.