Developers in Singapore experienced a significant decline in new private home sales in May 2025, with only 312 units sold, marking a 53% drop from April’s 663 units. This downturn is attributed to the absence of new project launches, a key driver of monthly sales. The Urban Redevelopment Authority’s data highlights that this is the first month in 2025 without fresh projects entering the market.
The Rest of Central Region (RCR) led May’s sales with 191 units, despite a 65% decrease from April, when launches like One Marina Gardens and Bloomsbury Residences boosted figures. The Outside Central Region (OCR) saw a slight increase to 106 units, whilst the Core Central Region (CCR) remained sluggish with 15 units sold. Notably, three CCR units sold for over $15 million each, purchased by Singapore permanent residents.
Executive condos (ECs) also saw a decline, with only 24 units sold, a 75% drop from April. Novo Place EC and Lumina Grand EC were the most popular, each selling eight units. The limited unsold supply of ECs bodes well for the upcoming launch of Otto Place EC in July.
Wong Siew Ying, Head of Research & Content at PropNex Realty, noted, “The primary market was quiet in May due to the lack of new project launches and the 2025 Singapore General Elections.” Looking ahead, a surge in sales is anticipated in July and August with several new projects, including W Residences Singapore and Otto Place EC, set to launch. PropNex projects the 2025 sales volume to reach 8,000 to 9,000 units, surpassing 2024’s total of 6,469 units.
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