Private home prices in Singapore experienced a slight increase of 0.5% quarter-on-quarter in the second quarter of 2025, as reported by the Urban Redevelopment Authority (URA). This follows a 0.8% rise in the first quarter of the year. The growth was primarily driven by price increases in the Core Central Region (CCR) and Outside Central Region (OCR), which saw rises of 2.3% and 0.9% respectively. However, the Rest of Central Region (RCR) experienced a 1.1% decline.
The Housing Development Board (HDB) resale price index also saw a 0.9% increase in the same period, contributing to a 2.5% appreciation in the first half of 2025. Despite a quieter resale market, with an 11.7% year-on-year drop in sales volumes to 4,340 units, the primary home sales market remains robust. Sales for the first five months of 2025 surged by 157% year-on-year to 4,362 units.
Looking ahead, the market is expected to be bolstered by a strong launch pipeline, with an additional 5,000 units anticipated for the remainder of 2025. Notable upcoming launches include the 343-unit Lyndenwoods and UPPERHOUSE at Orchard Boulevard. Additionally, the government has released land sites for 4,725 residential units under its confirmed list in the second half of 2025.
The sector remains neutral amidst a slower macroeconomic outlook and tariff uncertainties, which could temper buying sentiment. However, UOL Group is highlighted as a preferred sector pick due to its strong balance sheet and potential for value creation through acquisitions and asset enhancements.
“`