Singapore’s private residential market continued its upward trajectory in the first quarter of 2025, with property prices firming by 0.8%, according to Huttons’ analysis of Urban Redevelopment Authority (URA) data. The Rest of Central Region (RCR) saw the most significant gains, with non-landed home prices rising by 1.7%, whilst the Core Central Region (CCR) experienced a 0.8% increase.
Prices in the Outside Central Region (OCR) remained stable after a notable rise in the previous quarter.
Transaction volumes, however, dipped slightly by 2.3%, with 7,261 units sold compared to 7,433 in the last quarter of 2024. Despite this, the market’s performance remains robust, marking the first time volumes have exceeded 7,000 units since the end of 2021. This reflects growing buyer confidence, supported by factors such as lower interest rates and a positive economic outlook.
Developers launched six major non-landed projects in the quarter, including PARKTOWN Residence and The Orie, contributing to a total of 3,139 units launched. PARKTOWN Residence emerged as the best-selling project, with 1,054 units sold at a median price of $2,364 per square foot. The Orie followed closely, selling 690 units at a median price of $2,729 per square foot.
The rental market also saw a slight uptick, with rents increasing by 0.4% in the quarter. However, recent tariff announcements have introduced uncertainty, potentially impacting future investment and rental demand. Despite these challenges, Singapore’s status as a safe haven remains attractive to ultra-high-net-worth individuals, who may consider relocating and investing in luxury properties in the CCR. Looking ahead, Huttons anticipates the launch of 17 new projects, including one executive condominium, by the end of 2025.
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