Condo resale prices in Singapore experienced a decline in March 2025, yet sales volumes increased significantly by 19.7% compared to the previous month. The report highlights a 0.5% month-on-month decrease in overall prices, although year-on-year figures show a 5.1% increase from March 2024.
99.co and SRX attributed the rise in sales volumes to more affordable financing options due to a dip in SORA rates, making resale condos a more attractive option for buyers. Chief Data & Analytics Officer at 99.co, Luqman Hakim, noted that whilst borrowing costs have eased, they remain higher than pre-pandemic levels, leading to cautious and price-sensitive buyers.
In March, the Core Central Region (CCR) saw a 1.9% decrease in resale prices, whilst the Rest of Central Region (RCR) and Outside Central Region (OCR) experienced slight increases of 0.2% and 0.3%, respectively. The highest transacted price for a resale unit was S$16,030,000 at St Thomas Suite.
The report also revealed that the overall median capital gain for resale condos was S$358,000, a decrease of S$12,000 from February. District 20 posted the highest median capital gain at S$742,000, whilst District 1 recorded the lowest at S$37,000. The overall median unlevered return stood at 31.1%, with District 22 achieving the highest return at 44.4%.
As the market adjusts, sellers are beginning to lower their expectations, contributing to the downward trend in closing prices. The ongoing economic uncertainty and potential global trade tensions continue to influence buyer behaviour, with many adopting a wait-and-see approach.
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