Industry News

Private home prices in Singapore increased by 1.2% quarter-on-quarter (QOQ) in Q3 2025, driven by a series of new city launches, according to flash estimates released by the Urban Redevelopment Authority (URA). This marks the fourth consecutive quarter of rising private home prices. Meanwhile, the Housing and Development Board (HDB) reported a slower growth of 0.4% QOQ in resale flat prices, continuing a trend of easing growth for the fourth straight quarter.

The Core Central Region (CCR) saw the most significant rise in non-landed private home prices, with a 2.4% QOQ increase, attributed to successful launches such as The Robertson Opus and UpperHouse at Orchard Boulevard. These projects collectively sold 835 units, contributing to the highest quarterly CCR sales since Q4 2010.

In the Rest of Central Region (RCR), prices reversed a previous decline, rising by 0.4% QOQ, supported by new launches like LyndenWoods and Promenade Peak. The Outside Central Region (OCR) also experienced a 1.0% QOQ price increase, bolstered by strong demand for mass-market homes, notably the Springleaf Residence, which sold 94% of its units.

Kelvin Fong, CEO of PropNex, noted, “The sustained buyer interest in new launches in Q3 2025 has helped to prop up private home prices.” He projected a 4% to 5% rise in private home prices for 2025, driven by well-located projects and lower interest rates.

The HDB resale market saw 7,157 flats resold in Q3 2025, slightly up from the previous quarter. However, the cumulative price increase for 2025 remains significantly lower than in 2024, reflecting a cooling trend in the resale market.

Cushman & Wakefield’s latest MarketBeat report reveals that Singapore’s office and retail sectors experienced rental growth in the third quarter of 2025. CBD Grade A office rents increased by 0.5% as vacancy rates fell to 4.7% from 5.2% in the previous quarter, driven by tighter supply and a persistent flight to quality. Meanwhile, prime retail rents in Orchard and other city areas rose by 0.3%, supported by demand from new-to-market brands and resilient non-discretionary spending.

The report highlights that lower interest rates and Singapore’s advantageous tariff position in the Asia-Pacific region could bolster occupier confidence, potentially leading to more relocations. This is further supported by the ongoing trend of flight-to-quality moves and displacement from office redevelopments. “We remain optimistic that relocation activity will pick up over the next 12 months,” the report states, indicating a positive outlook for the office market.

In the retail sector, the entry of international brands such as Yo-Chi and Joocyee has contributed to the growth in prime retail rents. Suburban prime mall rents also saw a 0.3% increase, with low vacancy rates and steady non-discretionary spending playing a significant role. The limited pipeline of new retail projects, with islandwide additions from 2026 to 2029 averaging less than half the 10-year norm, is expected to support rental growth.

Looking ahead, the report anticipates continued rental growth in both sectors, with CBD Grade A office rents projected to rise into 2026 as supply tightens further. Similarly, prime retail rents are expected to remain robust due to the limited supply of new projects.

Investment banking fees in Singapore have seen a significant rise, with the London Stock Exchange Group (LSEG) reporting a 31.5% increase to $683m in the first nine months of 2025. This growth is attributed to a surge in equity capital markets and debt capital markets activities, which saw fees more than double and grow by 44.5% respectively compared to the previous year.

Mergers and acquisitions (M&A) involving Singapore reached $54.1b, a 7.1% increase from the same period in 2024. Despite the rise in value, the number of deals fell by 25%, hitting a nine-year low. Notably, fourteen deals exceeded $1b, totalling $23b, compared to seven such deals last year. The high technology sector emerged as the most targeted industry, capturing 15.2% of the market share.

Equity capital markets (ECM) activities also showed robust performance, with proceeds doubling to $5.8b, marking the best year-to-date period since 2021. The number of initial public offerings (IPOs) surged by 163.6%, with 29 IPOs raising $2.1b. DBS Group Holdings led the ECM underwriting league with $661.3m in proceeds.

In the debt capital markets (DCM), primary bond offerings from Singapore issuers reached $34.4b, a 31.5% increase from the previous year. The financial sector dominated, capturing 64.6% of the market share. DBS Group also topped the DCM underwriting league, securing $4.7b in proceeds.

These developments highlight Singapore’s dynamic investment banking landscape, with significant implications for future financial activities and market positioning.

SNP Group, a leader in digital transformation and data management for SAP environments, has appointed Jelita Kamal as its first Chief Operating Officer (COO) for Asia Pacific. This strategic move aims to capture the increasing demand for digital transformation in the region, which includes key markets such as Australia, Singapore, Malaysia, and China. Kamal will be based in Singapore and will oversee the go-to-market strategy, demand management, and sales operations across Asia Pacific and Japan.

Kamal brings over 20 years of leadership experience in the enterprise technology sector, having held senior roles at SAP and Salesforce. Her appointment is seen as a crucial step in strengthening SNP’s operational capabilities and ensuring consistent execution across the region. Phillip Miltiades, President and Managing Director of SNP JAPAC, stated, “Her leadership and experience will be instrumental in deepening customer value and supporting our teams and partners to achieve greater success.”

SNP is targeting a threefold increase in its Asia Pacific business within the next three years. Kamal’s role will focus on building scalable operations and delivering outcomes that help organisations unlock their full potential. Commenting on her new position, Kamal expressed her enthusiasm, saying, “I am excited to join SNP Group at such a pivotal time of transformation and growth.”

SNP Group works with over 3,000 customers globally and aims to enhance its presence in Asia Pacific through this new leadership role.

Raw Design Consultants, a Singapore-based office interior design studio, is at the forefront of transforming office spaces to accommodate the growing trend of hybrid work. As Singapore ranks highly in Asia Pacific for hybrid work adoption, the traditional office is evolving into a hub for collaboration, culture, and connectivity. This shift requires efficient layouts and strategic budget allocation to balance high rental costs and limited floor space.

Founded over a decade ago, Raw Design Consultants aims to streamline office design by focusing on client needs and employee wellbeing. “We wanted to deliver inspiring spaces on schedule,” said Gary Teo, founder of Raw Design Consultants. The studio’s approach incorporates natural light, acoustics, and ergonomic planning, ensuring efficient use of space and cost transparency.

A prime example of their work is Monks Singapore’s APAC headquarters, designed to support both collaboration and hybrid schedules. The office features a central social sanctuary for seminars and gatherings, surrounded by diverse work areas and integrated technology for seamless hybrid meetings.

As hybrid models continue to evolve, Raw Design Consultants anticipates a growing demand for offices that blend local character with global connectivity. “Every office tells a story, but the story really begins with the people who use the space,” Teo noted. The studio remains committed to creating spaces that reflect the needs and stories of their users, shaping the future of workspaces in Singapore and beyond.

Aman has announced the launch of Aman Singapore, a new urban sanctuary set to transform the luxury landscape of the city-state. Scheduled to open within The Skywaters, Singapore’s tallest skyscraper, the development will feature a hotel, Aman branded residences, and a global private members club. This marks Aman’s first foray into Singapore, promising a blend of privacy, harmonious design, and exceptional service.

The Skywaters, developed by Perennial Holdings and designed by Skidmore, Owings & Merrill, will rise at the intersection of Singapore’s Central Business District, Marina Bay, and the future Greater Southern Waterfront. Aman Singapore will offer exclusive facilities, including a comprehensive Aman Spa and an infinity-edged pool, alongside several signature dining venues.

The residences, ranging from one to five bedrooms, will provide sweeping views of Singapore’s skyline and the South China Sea. Each residence will be serviced with Aman’s renowned attention to detail, offering a serene retreat amidst the bustling city.

Vlad Doronin, CEO and Chairman of Aman Group, expressed excitement about the project, stating, “The launch of Aman Singapore, within the landmark The Skywaters development, marks an exciting chapter for our brand.” Pua Seck Guan, Executive Chairman and CEO of Perennial Holdings, added, “The Skywaters represents a bold new chapter for Singapore’s skyline.”

Aman Singapore joins a robust pipeline of future properties for the brand, including locations in Dubai, Riyadh, and Beverly Hills, further cementing Aman’s reputation as a global leader in luxury hospitality.

Infobip, a global cloud communications platform, and the MoneyGram Haas F1 Team have launched an interactive engagement platform to enhance fan connections during the Singapore night race. Utilising WhatsApp, the initiative aims to transform passive viewership into active participation, showcasing new possibilities for global sports engagement. This platform allows fans to engage through interactive gamification, testing their knowledge and predicting race outcomes via ClickToWhatsApp ad integration on Facebook and Instagram.

The collaboration between Infobip and the MoneyGram Haas F1 Team began at Monza with the launch of a WhatsApp conversational assistant. Mark Morrell, Director of Marketing at MoneyGram Haas F1 Team, stated, “Our fans are central to everything we do. Singapore’s night race is a special event on the calendar, and this activation will allow us to connect with our supporters in a more interactive way.”

Infobip’s Chief Business Officer, Ivan Ostojić, highlighted the significance of the initiative, stating, “We are not just bringing fans closer to the action at Singapore’s biggest motorsport event; we are redefining what it means to experience live sports in engaging ways no matter where you are.”

Infobip supports major brands in Singapore and the Asia Pacific with its communication platform and AI-powered solutions. With mobile penetration exceeding 150% in Singapore, the environment is ideal for showcasing Infobip’s advanced messaging technology, which delivers real-time, personalised engagement at scale.

This initiative marks a significant step in the digital engagement roadmap for Infobip and the MoneyGram Haas F1 Team, setting a new standard for global sports fan engagement.

Porsche Singapore has marked F1 week with a motorsport-themed activation at Porsche Studio Singapore, unveiling the new 911 GT3 and 911 Cup racecar. The 911 GT3, a high-performance sports car, is making its debut in Singapore, whilst the 911 Cup, set to compete in the Porsche Carrera Cup Asia from 2026, is being shown for the first time in Southeast Asia.

The Porsche Studio has been transformed into a ‘Raceborn’ pit stop, complete with racing equipment and team garage-style lighting, to celebrate Porsche’s rich motor racing heritage. The new 911 GT3 was revealed to customers and media in a theatrical setting, whilst the 911 Cup, adorned in a striking red livery, was displayed outside.

Dr. Henrik Dreier, Director Singapore Importer, Porsche Asia Pacific, stated, “The new 911 GT3 has become even more exhilarating and individual, and we are proud to showcase both the GT3 and its race car sibling, the 911 Cup, at F1 week this year.”

The 911 GT3, launched globally in October 2024, features a sharpened design, enhanced aerodynamics, and lightweight construction. It offers two versions: a track-focused model with a rear wing and a Touring package. The car is available for order in Singapore, starting at $664,000 (SGD 907,088), with deliveries expected by the end of 2025.

The 911 Cup, based on the 992.2 generation, will join the Porsche Carrera Cup Asia grid in 2026. It continues Porsche’s tradition of producing high-performance racing cars, with over 5,381 units of the 911 series produced as one-make racing cars to date.

Knight Frank Singapore has relaunched the Expression of Interest (EOI) exercise for the sale of 4 & 6 Lorong 12 Geylang, a prime redevelopment site strategically located in a maturing city-fringe area. Zoned “Commercial/Institution” under the URA Master Plan 2019, the freehold property spans 3,659 sq ft with a plot ratio of 2.8, offering a maximum gross floor area (GFA) of 10,245 sq ft.

The site, currently featuring a 2-storey building with an attic, presents potential investors with the opportunity to develop a new commercial or institutional building. Possible uses include offices, recreation clubs, commercial schools, and community facilities, subject to approval from relevant authorities. Its proximity to Kallang MRT station and major expressways enhances its accessibility, whilst the nearby Verandah @ Kallang development promises a vibrant future neighbourhood.

The Geylang precinct is undergoing significant rejuvenation, with recent developments such as an 8-storey institution building at 2 Lorong 12 Geylang and a 5-storey commercial building at 2 Sims Way. The area has seen active investment interest, including the recent $30 million sale of 30-32J Lorong 22 Geylang.

Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, highlighted the site’s appeal: “4 & 6 Lorong 12 Geylang presents numerous development opportunities for incoming investors. Its city-fringe location and freehold tenure are attractive not only to end-users but also to investors looking to ride on the precinct’s ongoing rejuvenation.”

The property is available with vacant possession at a guide price of $9.5m, translating to $926 per square foot on the maximum allowable GFA. The EOI exercise closes on 30 October 2025 at 3 PM.

The private residential market in Singapore has shown resilience with a notable increase in property prices and sales volume during the third quarter of 2025. According to the Urban Redevelopment Authority (URA), the property price index rose by 1.2% in Q3, up from 1% in Q2 and 0.8% in Q1. Year-to-date, prices have grown by 3.1%, surpassing the 1.6% growth in the same period in 2024.

Non-landed homes experienced a faster price growth, with a rise from 0.7% in Q2 to 1.1% in Q3. In the prime Core Central Region (CCR), prices increased by 2.4% quarter-on-quarter, although this was slower than the 3% rise in the previous quarter. The suburban Outside of Central Region (OCR) saw a 1% increase, slightly down from 1.1% in Q2, whilst the Rest of Central Region (RCR) reversed a 1.1% drop in Q2 with a 0.4% rise in Q3.

Christine Sun, Chief Researcher & Strategist at Realion, noted that the price growth in the CCR was driven by a significant increase in new sale transactions, which jumped from 44 units in Q2 to 896 units in Q3. Similarly, new sales in the OCR rose from 263 units to 1,279 units, and the RCR registered 1,067 units, up from 883 units in Q2. The overall price increase was also influenced by a 24.1% rise in higher-priced transactions, with 1,340 units sold for more than $2.2m (S$3m) in Q3, compared to 1,080 units in Q2.

Looking ahead, demand for new homes is expected to remain strong in the final quarter of the year, with several new developments set to launch. Developers are likely to expedite project launches to capitalise on the positive sales momentum. Additionally, with the Federal Reserve’s recent interest rate cut and potential further reductions, property investment is expected to become more attractive. Prices for the overall market are anticipated to rise by 3.5% to 5% for the whole of 2025.