The private residential market in Singapore has demonstrated remarkable resilience, with prices continuing to rise despite a 29.4% quarter-on-quarter decline in sales volume to 5,128 units in Q2 2025. According to Cushman & Wakefield’s Head of Research, Singapore & SEA, Wong Xian Yang, the market’s strength is driven by steady owner-occupier demand and the attractiveness of resale properties due to rising rents and lower interest rates.
The resale market accounted for 71.1% of the total sales volume, with resale transactions increasing by 2.3% quarter-on-quarter to 3,647 units. In contrast, new sales volume fell by 64.1% to 1,212 units due to fewer new launches. Despite this, new launches in July have shown positive momentum, with developments like LyndenWoods and UpperHouse achieving significant sales during their launch weekends.
Private residential property prices rose by 1.0% quarter-on-quarter in Q2 2025, supported by new launches. Landed residential prices saw a notable increase of 2.2% quarter-on-quarter, driven by limited supply and strong local demand. Non-landed residential prices grew by 0.7%, with the Core Central Region (CCR) and Outside Central Region (OCR) leading the growth.
Looking ahead, private residential prices are forecasted to grow by around 2-3% year-on-year for the whole of 2025. Despite low unsold inventory, developers are expected to remain cautious in their land banking activities, with new launches anticipated to be priced competitively due to heightened construction costs. Rents are also expected to grow by 3.0%-5.0% year-on-year in 2025, supported by steady demand and low new completions.
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