Developers sold 1,083 private residential units (excluding ECs) in January, marking a significant rebound from the 203 units transacted in December. This sharp increase was primarily driven by new project launches, particularly The Orie and Bagnall Haus, which contributed 69.7% of total new home sales. These projects, launched ahead of the Chinese New Year period, capitalized on renewed market activity, drawing strong buyer interest.

Historically, January 2025 recorded the highest sales since January 2021, surpassing 304 units in January 2024. However, sales remained below the peak of 1,633 units in January 2021, indicating the market is still adjusting to policy changes and macroeconomic conditions.

The Orie Emerges as Best-Selling Project

Among the best-selling projects, The Orie led the market with 680 units sold at a median price of $2,731 psf. The project’s location in the Rest of Central Region (RCR) and well-timed launch contributed to its strong performance.

Following this, One Bernam in the Core Central Region (CCR) sold 99 units at a median price of $2,521 psf, while Bagnall Haus, a 113-unit freehold project in the Outside Central Region (OCR), saw 75 units transacted at $2,494 psf. The steady take-up of Bagnall Haus reflects sustained demand for freehold properties in suburban locations, where supply remains limited.

Park Nova Penthouse Sets Luxury Benchmark

The highest transacted non-landed residential property in January 2025 was a penthouse unit at Park Nova, sold for $38.9 million. The freehold unit in District 10’s Orchard area spans 5,899 square feet and achieved a record-breaking $6,593 psf, the highest unit price recorded in nearly 14 years. The transaction highlights the continued strength of Singapore’s ultra-luxury segment, where high-net-worth individuals seek trophy assets in prime locations.

Click here for the full report 

 Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

 Email: mohan@sri.com.sg