Singapore’s private housing market took a breather in September — with developer sales plunging 88.2% month-on-month to 255 units (excluding ECs), marking the lowest monthly sales volume in 2025. The sharp fall, however, was largely attributed to the absence of major new launches and the seasonal lull from the Hungry Ghost Month and school holidays.
While activity slowed, market fundamentals remained firm. Buyers continued to focus on existing projects, especially in popular growth areas. The top performer was Canberra Crescent Residences, which sold 28 units at a median of $2,001 psf.
Industry experts, including ERA’s Marcus Chu, note that this dip is temporary, with a slew of launches set to fuel recovery in October and beyond.
🏙️ Market Snapshot: September 2025
- 📉 Total units sold: 255 (down 88.2% m-o-m)
- 📆 Reason: Lack of new launches, Hungry Ghost Month, school holidays
- 🏢 Best-performing projects:
- Canberra Crescent Residences – 28 units @ $2,001 psf
- Grand Dunman – 24 units @ $2,508 psf (86% sold to date)
- River Green – 16 units @ $3,201 psf
- Tembusu Grand – 12 units @ $2,393 psf
- Bloomsbury Residences – 11 units @ $2,548 psf
🏡 Executive Condominium (EC) Segment Highlights
- 🧩 Sales fell 92.3% m-o-m to just 15 units
- 💡 Half the EC sales came from Otto Place, Tengah (8 units sold)
- 💰 High-value ECs surge:
- 287 ECs sold above $2 million this year
- Record psf: $1,909 psf for a 947-sq-ft unit at Otto Place
- 🏗️ Next EC launch: Pasir Ris (Qingjian-led consortium), expected to draw strong upgrader interest
💬 Expert Commentary
“Despite a quiet September, demand fundamentals remain robust. With lower borrowing rates and upcoming launches, we expect strong rebound in Q4,”
— Marcus Chu, CEO, ERA Singapore
“Falling interest rates may encourage buyers to act sooner, anticipating firmer prices in 2026,”
— Wong Siew Ying, Head of Research, PropNex Realty
💹 What’s Next: October to End-2025 Outlook
The October rebound has already begun with Skye at Holland’s near sellout launch, moving 658 out of 666 units (99%) at an average $2,953 psf.
Upcoming launches expected to sustain this momentum include:
- 🏠 Penrith (Margaret Drive) – 426 units, by Hong Leong Holdings
- 🏠 Faber Residence (Faber Hills) – 399 units, by GuocoLand
- 🏠 Zyon Grand (Upper Serangoon) – 706 units, by CDL & Mitsui Fudosan
- 🏠 The Sen (Upper Bukit Timah) – 347 units, by Sustained Land & partners
With easing SORA rates (~1.40%), stable employment, and healthy household balance sheets, Singapore’s housing market remains resilient, poised for a strong close to 2025.
📊 Infographic Summary
- 📉 88.2% drop in developer sales (lowest this year)
- 💰 255 units sold (excluding ECs)
- 🧱 Canberra Crescent Residences tops with 28 units sold
- 🏗️ EC market sees record high-value transactions
- 💵 Interest rates easing to 1.40% SORA
- 📈 Rebound expected from strong October and Q4 launches
✅ Summary Highlights
✅ Developer sales fell 88.2% in September due to no major launches.
✅ ECs also slowed but saw record million-dollar transactions.
✅ Skye at Holland’s 99% sellout signals strong October rebound.
✅ Lower borrowing rates and steady employment support confidence.
✅ Upcoming projects likely to push 2025 sales beyond 9,000 units.
📞 Thinking about upgrading or exploring the upcoming launches?
Reach out today to stay ahead of the next wave of opportunities in Singapore’s property market.