Singapore’s prime non-landed home sales experienced a downturn in the second quarter of 2025, as geopolitical and economic uncertainties weighed heavily on developer and buyer sentiment, according to a JLL report. The quarter saw only one new project launch, 21 Anderson, which comprises 18 units. Existing projects like Hill House, Watten House, and The Collective at One Sophia continued to contribute to new sales during this period.
The market’s vacancy rates tightened slightly due to stronger absorption compared to new supply. Sophia Regency and the Initial Sama serviced flat development were the only projects to receive Temporary Occupation Permits in Q2, whilst Fraser Place Robertson Walk was withdrawn from the market.
Despite these challenges, the capital values of resale prime non-landed homes rose, albeit at a slower pace than in the first quarter, indicating sustained local buyer demand. However, the rental market showed mixed results. Luxury prime home rents, which had been on an upward trend since Q2 2024, saw a reversal due to heightened uncertainties and cost sensitivity. In contrast, typical prime rents continued to rise as demand shifted from the luxury segment.
Looking ahead, prime home prices may find support from moderating interest rates and local buyer interest. However, ongoing economic uncertainties, including geopolitical conflicts and trade frictions, could dampen demand. Additionally, economic headwinds and job market uncertainties are expected to weaken both leasing demand and rent growth for prime non-landed private homes.
“`
