CBRE’s latest report on Singapore’s luxury residential market for the first half of 2025 reveals a mixed performance across key segments. Whilst Good Class Bungalow (GCB) and Sentosa Cove transactions remained subdued, luxury flat sales experienced a significant rebound, driven by new launches and lower interest rates.
In the GCB market, 14 properties worth $459.63m were transacted, marking a 46.9% decline from the previous half-year but maintaining a similar level year-on-year. Average GCB prices fell by 12.8% to $2,122 per square foot (psf), with more transactions occurring in fringe areas like Caldecott Hill Estate. Despite lower interest rates, geopolitical tensions and trade frictions have led to a cautious buyer sentiment, according to Linda Chern, CBRE’s Head of Residential Services in Singapore.
Meanwhile, the Sentosa Cove market remained relatively quiet, with only two bungalow transactions totalling $26.95mn, a 90.4% increase from H2 2024 but still below historical norms. Condominium activity was stable, with 35 units transacted for $134.83m, maintaining prices at $1,794 psf.
The luxury flat segment led the recovery, with 45 units sold for $584.26m, up 155.8% half-on-half and 53.9% year-on-year. The average price rose by 6.2% to $3,736 psf, bolstered by new launches in the Core Central Region and favourable financing conditions. Tricia Song, CBRE’s Head of Research for Singapore and Southeast Asia, anticipates continued positive momentum into the second half of 2025.
Despite global uncertainties, the resilience of Singapore’s luxury residential market is evident, with expectations for further recovery in the latter half of the year.
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