Singapore’s private housing market experienced a slowdown in price growth for the second consecutive quarter, with a 0.5% quarter-on-quarter increase in Q2 2025, according to the Urban Redevelopment Authority’s (URA) flash estimate. This follows a 0.8% rise in Q1 2025. The decline in new home sales, attributed to fewer launches and cautious sentiment due to geopolitical tensions, saw a significant drop of 66.5% from the previous quarter.
The landed property segment led the price growth with a 0.7% increase, whilst non-landed properties saw a 0.5% rise, down from 1.0% in Q1 2025. The Outside Central Region (OCR) recorded a 0.9% increase, whilst the Core Central Region (CCR) outperformed with a 2.3% rise. Conversely, the Rest of Central Region (RCR) saw a 1.1% decline, impacted by realistic pricing at new launches such as One Marina Gardens and Bloomsbury Residences.
Tricia Song, CBRE Head of Research, Southeast Asia, noted that the CCR’s performance was bolstered by luxury launches like 21 Anderson, which sold units at a median price of $4,811 per square foot. Despite the slowdown, CBRE maintains its full-year forecast for new home sales at 7,000 to 8,000 units, though risks remain if economic conditions worsen.
Looking ahead, private home prices, which have risen 1.3% in the first half of 2025, are expected to maintain a growth momentum of 3% to 4% for the year. However, the Ministry of Trade and Industry’s revised GDP growth forecast of 0% to 2% for 2025 suggests potential downside risks.
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