Singapore’s private residential market saw a significant uptick in activity during the third quarter of 2025, with transaction volumes reaching 6,594, marking a 28.6% increase from the previous quarter. This surge occurred despite the typically quieter Chinese Seventh Month and ongoing economic uncertainties, as reported by the Urban Redevelopment Authority (URA) flash estimates.
The URA All Residential Price Index showed a moderate quarter-on-quarter increase of 1.2%, contributing to an overall rise of 3.1% for the first nine months of the year. Leonard Tay, Head of Research at Knight Frank Singapore, noted that new launches in July and August bolstered market activity, particularly in the Core Central Region (CCR), where non-landed home prices rose by 2.4%.
Local homebuyers, including new citizens and permanent residents, have been active in the prime market segment, often purchasing for personal use or leasing to foreign professionals. The Additional Buyer’s Stamp Duty (ABSD) of 60% for foreign buyers has further incentivised foreigners to settle in Singapore amidst global tensions.
In contrast, the Rest of Central Region (RCR) experienced a modest price increase of 0.4%, whilst the Outside Central Region (OCR) saw a 1.0% rise. Landed home prices also grew by 1.4%, with buyers showing interest in older properties or those in less central locations.
Overall, Singapore’s residential market remains on a cautious growth trajectory, supported by domestic demand and steady developer launches. However, global economic headwinds, interest rates, and unemployment levels remain key factors to monitor. With a 3.1% price movement from January to September, the year’s growth is expected to align with the projected 3% to 5% range.
