Singapore’s residential market saw a significant decline in developer sales in November 2025, with only 325 units sold, marking an 86.6% decrease from September and an 87.3% drop from November 2024. The Sen, located off Jalan Jurong Kechil, was the sole launch of the month and the final new launch of the year, according to Leonard Tay, Head of Research at Knight Frank Singapore.
Despite the challenging economic landscape in 2025, characterised by global uncertainties and climate issues, Singapore’s housing market remained resilient, buoyed by declining interest rates since September 2024. This trend encouraged homebuyers, even as unemployment remained stable amidst redundancies in some multinational firms.
Looking ahead to 2026, Knight Frank anticipates a decrease in developer sales, projecting figures between 8,000 and 10,000 units. This forecast reflects the impact of stringent cooling measures and a lack of new development sites from collective sales and government land sales. “The almost 11,000 new sales in 2025 would also have taken quite a substantial chunk of buyers out of the market,” Tay noted.
Whilst the anticipated sales for 2026 are lower than 2025’s figures, the market is expected to remain supported by easing interest rates, low unemployment, and wealth transfers from older generations. The private home market continues to be underpinned by stable household earnings and savings, facilitating new household formations.
