Developer sales of new private homes in Singapore plummeted to their lowest in 2025 during May, with only 312 units sold. This marks a significant 52.9% decrease from April’s 663 units, although it represents a 39.9% increase compared to May 2024. The decline is attributed to the absence of new launches and ongoing global trade frictions, which have dampened economic sentiment, according to Tricia Song, CBRE Head of Research for Singapore and Southeast Asia.
The top-selling project in May was One Marina Gardens, which sold 62 units at a median price of $2,975 per square foot (psf). Bloomsbury Residences followed with 32 units sold at $2,506 psf, and The Hill @One-North moved 26 units at $2,484 psf. These projects were all launched in April 2025, highlighting the lack of fresh offerings in May.
The Rest of Central Region (RCR) led sales with 191 units, accounting for 61.2% of the total, driven by projects like One Marina Gardens and Bloomsbury Residences. The Outside Central Region (OCR) followed with 106 units, whilst the Core Central Region (CCR) lagged with just 15 units sold.
Looking ahead, CBRE anticipates a muted sales environment in June due to the school holidays. However, a number of new launches are expected in the second half of 2025, primarily in the CCR and RCR. Despite this, monthly sales are unlikely to exceed 1,000 units as seen in Q1 2025. CBRE maintains its full-year forecast of 7,000 to 8,000 units sold, with potential downside risks if economic conditions worsen.
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