Developer sales of new private homes in Singapore fell for the fourth consecutive month in June 2025, reaching the lowest level of the year to date. A total of 272 units were sold, representing a 12.8% month-on-month decrease from May’s 312 units. However, year-on-year sales saw a 19.3% increase from the 228 units sold in June 2024, according to CBRE Research.
The decline in sales reflects cautious buyer sentiment, influenced by ongoing trade frictions and geopolitical tensions affecting Singapore’s economic outlook. Despite this, CBRE’s Head of Research for Singapore and Southeast Asia, Tricia Song, anticipates a potential rebound in sales in July and August, driven by a robust pipeline of new launches and pent-up demand.
In June, the top-selling project was One Marina Gardens, which sold 49 units at a median price of $2,962 per square foot (psf), followed by Bloomsbury Residences with 30 units at $2,516 psf. The Rest of Central Region (RCR) led sales, accounting for 69.5% of new home transactions, largely due to these projects.
Looking ahead, the Singapore government announced new cooling measures on 3 July 2025, including an increase in Seller’s Stamp Duty and an extended holding period. These measures are expected to have a limited impact on transaction volumes, as they primarily target genuine owner-occupiers and long-term investors.
With several projects set to launch before the Hungry Ghost Festival in late August, sales are expected to rise. CBRE maintains its forecast for 7,000 to 8,000 new home sales for the full year, with private home prices projected to increase by 3-4% in 2025.
“`
