Private residential property prices in Singapore saw a 0.7% increase in Q4 2025, driven by robust sales and the landed homes segment, according to flash estimates from the Urban Redevelopment Authority (URA). In contrast, Housing & Development Board (HDB) resale flat prices remained unchanged, marking the first time since Q1 2020 that prices did not rise, amidst softer resale volumes.
The landed homes segment led the charge with a 3.5% quarter-on-quarter (QOQ) price growth, its strongest in two years, despite a decrease in transactions from 559 in Q3 to 491 in Q4. This segment’s prices have risen by 7.7% in 2025, significantly higher than the 0.9% increase in 2024, likely buoyed by lower interest rates.
Non-landed private homes, however, experienced a slight dip of 0.1% QOQ, reversing the previous quarter’s 0.8% increase. The Outside Central Region (OCR) saw the largest price increase in this category at 1.0% QOQ, whilst the Core Central Region (CCR) experienced a 3.2% decline, ending a four-quarter growth streak.
Kelvin Fong, CEO of PropNex, noted that the moderate price growth in the private housing segment contributed to a more sustainable market environment, reducing the fear of missing out and hype. He highlighted the resurgence in CCR demand, with local buyers accounting for 82.6% of non-landed new private home sales in the region in 2025.
Looking ahead, PropNex anticipates a resilient private housing market in 2026, supported by stable interest rates and a robust pipeline of new launches. Private home prices are expected to grow moderately by 3% to 4% in the coming year.
