In August 2025, Singapore’s property market witnessed a significant surge in developer sales, reaching 2,142 units, excluding Executive Condominiums. This marks a 127.9% increase from July’s 940 units and a staggering 915.2% rise compared to August 2024. The spike in sales was largely attributed to developers rushing to launch new projects before the onset of the Lunar Seventh month on 23 August, according to Leonard Tay, Head of Research at Knight Frank Singapore.
The month’s top performer was Springleaf Residence, which sold 94% of its 941 units at a median price of S$2,166 per square foot. This is only the second time in the past year that monthly sales have exceeded 2,000 units, with the previous instance being November 2024. Other notable projects included River Green and Promenade Peak, which sold 451 and 333 units, respectively.
Local homebuyers were the primary drivers of this activity, purchasing properties for personal use and leasing to foreign professionals. The Additional Buyer’s Stamp Duty continues to deter foreign buyers, but new citizens and permanent residents are actively acquiring homes in Singapore’s stable environment. Despite recent increases in Seller’s Stamp Duty rates and extended holding periods, the market remains robust, with 7,669 primary transactions recorded in the first eight months of 2025.
Looking ahead, sales are expected to decline in September and December due to fewer project launches during the Lunar Seventh month and year-end holidays. However, the appetite for new homes remains strong, with sales likely to reach or even surpass the upper end of Knight Frank’s forecasted range of 7,000 to 9,000 units for the year.
