Developers in Singapore sold 729 new private homes (excluding ECs) in March 2025, reflecting a modest 1.5% increase from the 718 units transacted in March 2024, according to the Urban Redevelopment Authority (URA).<\/p>\n
While the monthly gain was minimal, the figure marked a sharp drop from February 2025, which recorded 1,597 units sold \u2013 driven by blockbuster launches like Parktown Residence and Elta<\/a>.<\/p>\n When executive condominiums (ECs) are included, total sales reached 1,510 units in March, up from 832 units in March 2024, though lower than the 1,626 units in February 2025.<\/p>\n The first quarter of 2025 recorded around 3,400 private home transactions (excluding ECs) \u2013 the highest Q1 volume since 2021, noted Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia.<\/p>\n \u201cThat\u2019s already 51% of the total 6,626 new non-landed private homes sold for all of 2024,\u201d added Marcus Chu, CEO of ERA Singapore.<\/p>\n<\/blockquote>\n The EC market broke new ground in March, with a record 162 units sold for S$2 million or more, according to Christine Sun, Chief Researcher at OrangeTee Group. The previous record was 33 units in August 2023.<\/p>\n Aurelle of Tampines: 148 units (fully sold)<\/p>\n<\/li>\n Lumina Grand (Bukit Batok): 12 units<\/p>\n<\/li>\n Altura (Bukit Batok): 2 units<\/p>\n<\/li>\n<\/ul>\n Additionally, a record 751 EC units were sold above S$1,500 psf, including 148 units at over S$1,800 psf\u2014exceeding the median resale condo price in the suburbs (S$1,533 psf) and closing in on city fringe levels (S$1,891 psf).<\/p>\n The highest-priced EC unit was a 1,356 sq ft apartment at Aurelle of Tampines, which fetched S$2.48 million (S$1,829 psf).<\/p>\n Analysts attribute the market\u2019s resilience to:<\/p>\n Benign interest rate environment<\/p>\n<\/li>\n Appeal of new launches<\/p>\n<\/li>\n Staged payments during construction<\/p>\n<\/li>\n Strong household balance sheets<\/p>\n<\/li>\n<\/ul>\n \u201cBuyers are moving away from the watch-and-wait stance of 2024,\u201d said Leonard Tay, Head of Research at Knight Frank Singapore.<\/p>\n<\/blockquote>\n \u201cDemand remains robust, especially in the OCR and RCR, where affordability meets accessibility,\u201d added Mohan Sandrasegeran, SRI\u2019s Head of Research and Data Analytics.<\/p>\n<\/blockquote>\n The Outside Central Region (OCR) continued to dominate, accounting for 81.8% of March\u2019s new home sales, followed by:<\/p>\n Rest of Central Region (RCR): 11.9%<\/p>\n<\/li>\n Core Central Region (CCR): 6.3%<\/p>\n<\/li>\n<\/ul>\n According to Wong Siew Ying of PropNex, this brought the total number of new OCR homes sold in Q1 to 2,256 units\u2014the highest since Q2 2013, when 2,760 OCR units were sold.<\/p>\n Two major launches shaped March\u2019s market performance:<\/p>\n Developer: GuocoLand<\/p>\n<\/li>\n Units sold: 460 out of 477 (96.4%)<\/p>\n<\/li>\n Segment: OCR<\/p>\n<\/li>\n Status: Best-selling condo project by percentage in 2025<\/p>\n<\/li>\n<\/ul>\n Developer: Far East Organization<\/p>\n<\/li>\n Units sold: 24 out of 78<\/p>\n<\/li>\n Segment: CCR<\/p>\n<\/li>\n Type: Mixed-use development<\/p>\n<\/li>\n Noted: Similar sales pace to other CCR launches<\/p>\n<\/li>\n<\/ul>\n Despite Q1\u2019s momentum, analysts flagged potential headwinds:<\/p>\n Ongoing US-China trade tensions<\/p>\n<\/li>\n Geopolitical instability<\/p>\n<\/li>\n Investor hesitation<\/p>\n<\/li>\n<\/ul>\n \u201cInvestor confidence may take a hit from market volatility, but demand from end-users is expected to hold steady,\u201d said Wong of PropNex.<\/p>\n<\/blockquote>\n \u201cPrimary residential sales in Q2 could fall by up to 50%,\u201d cautioned Nicholas Mak, Chief Research Officer at Mogul.sg.<\/p>\n<\/blockquote>\n Even as caution grows, April\u2019s initial launches indicate steady demand:<\/p>\n Bloomsbury Residences (Media Circle) and<\/p>\n<\/li>\n
\nQ1 2025: Strongest Start Since 2021<\/h2>\n
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\nExecutive Condominiums Surge Past S$2 Million Mark<\/h2>\n
Top EC Performers:<\/h3>\n
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\nWhy Are Buyers Returning?<\/h2>\n
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\nOCR Leads Sales Activity<\/h2>\n
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\nMarch Launches: Mixed Performance<\/h2>\n
1. Lentor Central Residences<\/a><\/h3>\n
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2. Aurea at Golden Mile<\/h3>\n
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\nCautious Outlook Amid Global Uncertainty<\/h2>\n
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\nApril Outlook: Sales Remain Resilient<\/h2>\n
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