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Singapore New Launch Supply Set to Pick Up in 2H2025

As we move towards the second half of 2025, Singapore’s private residential market is expected to gain momentum, with approximately 7,500 to 8,000 new units—including Executive Condominiums (ECs)—set to be launched across the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR). This upcoming supply, spread across around nearly 20 developments, arrives at a time of renewed buyer confidence, bolstered by a healthier sales landscape and tightening unsold stock, particularly in mass-market areas. The CCR segment saw a notable rebound in 1Q2025, with 192 units sold, marking its strongest quarter since 4Q2023. This turnaround from the low of 54 units in 3Q2024 underscores a revived interest in luxury properties, driven by high-net-worth individuals seeking long-term asset value amid global uncertainties. Upcoming launches such as W Residences – Marina View, Robertson Opus, and River Green are expected to capture attention with their prime locations, limited supply, and strong lifestyle propositions. The unique positioning of branded residences and 999-year leasehold tenures add further appeal to discerning buyers. In the RCR, the market staged a significant recovery in 1Q2025, recording 945 new home sales—the best first-quarter performance since 1Q2021 and nearly quadruple the 235 units sold in 1Q2024. Key upcoming projects in 2H2025 include Arina East Residences, The Sen, and Artisan 8. In the OCR, unsold private residential inventory declined steadily from 7,698 units in 1Q2024 to 4,340 units in 1Q2025—the lowest since 4Q2022. This trend highlights strong absorption and resilient demand from first-time homebuyers and HDB upgraders. Upcoming projects like Springleaf Residence, Canberra Crescent GLS, and Otto Place (Plantation Close EC) are expected to benefit from this tight supply landscape. Together, these developments across CCR, RCR, and OCR represent a dynamic and diversified landscape that caters to evolving buyer profiles, from investors seeking prestige addresses to families prioritising connectivity and value. With strategic launches aligned with improving sentiment and reduced supply, 2H2025 is shaping up to be a pivotal period in Singapore’s private residential market.

Singapore New Private Home Sales Jump 120% YoY in April 2025

In April 2025, developers sold a total of 663 private residential units (excluding ECs), a moderation from the 729 units transacted in March. However, compared to the same period last year, new private home sales rose sharply by 120.3%, up from 301 units in April 2024. This surge reflects an improved sales environment and stronger buyer responsiveness to new launches. The Rest of Central Region (RCR) led performance with 551 units sold, contributing 83.1% of the total monthly sales. This surge was primarily driven by the successful launches of One Marina Gardens and Bloomsbury Residences. These projects sparked buyer interest due to their strategic locations, strong connectivity, and integration with key economic and lifestyle hubs. One Marina Gardens was the best-selling project in April, moving 384 units at a median price of $2,948 psf. Located in the emerging Marina South precinct, the development benefited from a compelling first-mover advantage and integration into a larger master plan near Marina Bay. Buyers saw long-term value potential and were attracted to the vision of a vibrant waterfront lifestyle hub. Bloomsbury Residences, situated within the dynamic one-north precinct, was the next standout performer, selling 107 units at a median price of $2,454 psf. As the first residential development in Mediapolis, its proximity to media, technology, and biomedical industries—as well as top educational institutions and transport connectivity—positioned it as a desirable live-work-play offering. In the luxury segment, 21 Anderson achieved the highest non-landed transaction in April, with a 4,489 sq ft freehold unit sold for $23.0 million ($5,127 psf). This benchmark sale in the Tanglin planning area highlighted ongoing demand from high-net-worth individuals for rare, prestigious offerings despite overall market moderation. The overall market outlook remains positive. Sustained momentum in Q1 2025 reflects market resilience supported by local demand, strategic launches, and a stable macroeconomic backdrop. Developers have successfully aligned new offerings with market expectations—balancing connectivity, pricing, and upside potential.

HDB Resale Prices and Transactions Show Steady Pace in 1Q2025

In 1Q2025, HDB resale prices increased moderately by 1.6%, compared to 2.6% in the previous quarter, reflecting a gradual recalibration driven by expanding housing supply and affordability measures. Transactions rose slightly, with 6,590 flats changing hands, marking a 2.6% increase quarter-on-quarter. This slower resale market performance was partially attributed to seasonal effects like Chinese New Year festivities, which typically dampen resale activity. Concurrently, HDB significantly expanded housing supply, launching 10,622 flats through Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. The SBF exercise, notably the largest since November 2020, offered 5,220 balance flats, with approximately 40% move-in ready, attracting buyers seeking immediate occupancy. Older flats with lease commencement dates of 1990 or earlier represented 39.4% of resale transactions, up slightly from 38.6% in 4Q2024. Buyers continued gravitating towards these mature flats, driven by larger sizes, established locations, and affordability. Newer flats from 2013 onwards accounted for 29.6% of transactions, remaining stable compared to the previous quarter. The government’s ongoing investment through initiatives such as the Neighbourhood Renewal Programme (NRP), Home Improvement Programme (HIP), and Lift Upgrading Programme (LUP) significantly enhanced older flats' liveability. These programmes, improving interiors, common areas, and accessibility, ensure older flats remain attractive despite shorter leases. Looking ahead to 2025, HDB resale market demand is expected to remain resilient, driven by couples, families, and unsuccessful BTO applicants needing immediate housing solutions. Interest will likely concentrate in well-located estates offering proximity to key amenities and transport nodes. To manage demand-side pressures, the government is proactively increasing housing supply. In July 2025, approximately 5,400 BTO flats will launch across several estates, accompanied by a concurrent SBF exercise offering about 3,000 flats, totalling 8,500 units for 2025. This diverse supply caters to varied buyer profiles and needs. Overall, the HDB resale market in 2025 is set for sustainable balance, ensuring price stability and supporting long-term affordability amid expanding public housing options.