Singapore’s property market experienced a sharp decline in November 2025, with developers launching only 347 units, marking an 84.5% decrease from October and an 87.9% drop compared to the same period last year. The Sen, the first project in Upper Bukit Timah in five years, was the sole launch, selling 77 units at a median price of $2,339 per square foot (psf).
The total number of units sold in November was 325, a significant 86.6% decrease from October and 87.3% lower than November 2024. According to Huttons Data Analytics, developer sales excluding executive condominiums (ECs) for the first 11 months of 2025 reached 10,624 units, approximately 97% of their annual estimate.
The Rest of Central Region (RCR) saw an increase in sales proportion to 66.2%, largely due to The Sen’s launch. Seven of the top 10 projects by sales in November were in the RCR. Singaporeans dominated the market, making up 84.4% of buyers, whilst permanent residents (PRs) accounted for 12.8%.
Foreign purchases fell to nine in November, a decrease from 32 in October, with the majority in the RCR. The proportion of foreign purchases was 2.8% for the month.
Looking ahead, the market is expected to slow further in December, with sales estimated between 200 and 250 units. Coastal Cabana, an EC in Pasir Ris, is anticipated to attract significant interest when sales begin in January 2026. Huttons projects that developer sales for 2025 could reach 11,000 units, the highest since 2021, with prices forecasted to rise by 3% to 4%.
