Singapore’s private residential market remained resilient in 1Q2025, with prices rising 0.8% quarter-on-quarter (q-o-q), according to the latest Urban Redevelopment Authority (URA) data released on April 25. While this growth marked a moderation from the 2.3% increase in 4Q2024, it reflects stable market fundamentals amidst new launches and evolving buyer demand.
Interestingly, the final 0.8% figure edged out the flash estimate of 0.6%, highlighting a slightly stronger market sentiment than earlier anticipated.
What’s Driving the Market?
According to Leonard Tay, head of research at Knight Frank Singapore, price stability is evident across many parts of the Rest of Central Region (RCR) and Outside Central Region (OCR), with signs of market equilibrium taking shape.
One key driver of price movement in 1Q2025 is the launch of new projects, particularly The Orie in Toa Payoh (RCR), which sold 694 out of 777 units at an impressive $2,703 psf average.
In the Core Central Region (CCR), the luxury market saw activity with the launch of Aurea (Golden Mile Singapore), achieving an average of $3,009 psf, despite high ABSD rates for foreigners.
📊 Quick Infographic Highlights: 1Q2025
📈 Price Movements
-
Overall private home prices rose 0.8% q-o-q.
-
RCR led growth at 1.7% q-o-q and 7.3% y-o-y.
-
CCR saw a 0.8% q-o-q price rise.
🏢 Project Highlights
-
The Orie (RCR): 89% sold at $2,703 psf.
-
Aurea (CCR): 24 units sold at $3,009 psf.
-
Lentor Central Residences (OCR): 96% sold at $2,205 psf.
-
ParkTown Residence (OCR): 89% sold at $2,362 psf.
🛒 Buying Trends
-
New home sales dominated by OCR projects (66.3% of transactions).
-
Narrowest price gap between CCR and RCR since 1Q2013 (just 1.0% difference).
🏠 Supply Situation
-
Unsold inventory fell 6.6% to 18,125 units, lowest in 5 quarters.
-
Developers launched 3,139 units in 1Q2025.
📉 Resale and Rental Market
-
Resale transactions fell 3.7% q-o-q but prices rose 2.2%.
-
Rental market up 0.4%, indicating stabilisation.
🏘️ Landed Homes
-
Landed property prices reversed earlier declines, up 0.4% q-o-q.
-
Luxury landed homes (> $10 million) saw a 21.6% uptick in transactions.
Commentary: What This Means for Buyers and Investors
The narrowing price gap between CCR, RCR, and OCR suggests strategic buying opportunities, especially for those eyeing prime city-fringe (RCR) or even CCR projects which are becoming comparatively more attractive.
Strong take-up rates in OCR projects also signal robust demand from HDB upgraders and first-time buyers. With unsold inventory at a 5-quarter low and stable rental yields, the market remains fundamentally healthy.
However, the outlook hints at a more moderated pace of growth, as broader macroeconomic headwinds and increased new supply in the pipeline could exert some cooling pressure.
If you are considering upgrading, investing, or making your first move in Singapore's private property market — the window of opportunity is still open.
✅ 1Q2025 Summary Highlights
✅ Private residential prices rose 0.8% q-o-q, led by RCR launches.
✅ Unsold inventory fell to its lowest in 5 quarters.
✅ New project launches continue to see healthy take-up.
✅ Price gap between CCR and RCR is the narrowest since 2013.
✅ Rental and resale markets remain stable amid broader uncertainties.
🔔 Thinking of buying, upgrading, or investing in Singapore property?
Reach out today for personalised advice and the latest market opportunities tailored to your needs! Let's make your property goals a reality.