SRI - Singapore Realtors Inc.

15 Sep 2025

Singapore New Home Sales Cross 2,000 Units in August 2025, Driven by Strong Launches

Property Insight

The private residential market registered a strong performance in August 2025, marking the second consecutive month of growth in new home sales. Developers transacted 2,142 units excluding Executive Condominiums (ECs), a significant jump from the 940 units sold in July. Including ECs, the total reached 2,338 units. This is the first time since November 2024 that monthly developer sales have surpassed the 2,000-unit threshold.

This outcome is especially notable given that August is traditionally a quieter month for property transactions due to the Hungry Ghost Festival. Developers responded strategically by bringing projects to market earlier, capitalising on demand before the slowdown. This timing enabled them to sustain momentum despite the seasonal lull.

The strong results were underpinned by several high-profile launches. Five projects—Springleaf Residence, River Green, Promenade Peak, Canberra Crescent Residences, and Artisan 8—accounted for 88.4% of total developer sales in August, underscoring the pivotal role of large launches in driving activity. In contrast, all other projects combined contributed just 11.6%, highlighting the extent to which buyer attention was concentrated on fresh supply.

Springleaf Residence emerged as the top performer with 884 units sold at a median price of $2,166 psf. Over 92% of its units were snapped up during its launch weekend, led by strong demand for two- and three-bedroom units. The project benefitted from limited competing supply in its vicinity, as the next GLS tenders in Upper Thomson and Lentor were not scheduled to launch until later in the year. Its compelling entry pricing and attractive location helped draw both owner-occupiers and investors.

Cumulatively, the market in 2025 has significantly outpaced the previous year. From January to August 2025, developers sold 7,669 units, already exceeding the full-year total of 6,469 units in 2024. This turnaround reflects improved buyer sentiment, the return of larger-scale launches, and stronger participation across both suburban and central locations.

Click here for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg

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3Q2025 HDB Resale Market Trends: Steady Growth and Sustained Demand

The HDB resale market maintained steady momentum in 3Q2025, reflecting sustained buyer confidence amid an evolving public housing landscape. While the pace of growth moderated compared to 2024, transaction volumes and prices continued to show resilience, supported by stable demand for well-located and newer flats that have recently reached their Minimum Occupation Period (MOP).

Overall, HDB resale prices increased by 2.9% in the first nine months of 2025, moderating from the stronger 6.9% growth recorded during the same period in 2024. The moderation reflects a gradual normalisation in market conditions as more Build-To-Order (BTO) and Sale of Balance Flats (SBF) supply enters the pipeline. The ramp-up of new flats, particularly those with shorter waiting times, provided buyers with more options and helped to ease the pace of resale price growth.

Resale transactions reached about 7,500 cases in 3Q2025, slightly higher than the previous quarter. Demand remained healthy in both mature and non-mature towns. Mature estates such as Ang Mo Kio, Toa Payoh, and Queenstown continued to attract steady demand due to their accessibility and established amenities, while non-mature towns such as Yishun, Woodlands, and Sengkang drew buyers looking for affordability and newer flats with remaining lease value.

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here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight

Developers Regain Confidence as Private Home Sales Surge in 3Q2025

Singapore’s private residential market recorded a strong rebound in the third quarter of 2025, reflecting renewed confidence and improved buyer sentiment following the Federal Reserve’s rate cut in September. Developers launched a total of 4,746 new private homes, marking the highest quarterly launch volume since 2Q2013. The surge in supply was driven by several major projects across all market segments, including Skye at Holland, Penrith, and Faber Residence, which collectively contributed to the robust sales momentum observed during the quarter.

Sales performance was equally upbeat, with 3,320 units (excluding ECs) transacted — a sharp increase from 1,212 units sold in the previous quarter. The healthy take-up rate demonstrates buyers’ growing readiness to re-enter the market, buoyed by an improved macroeconomic outlook, greater project diversity, and stabilising interest rates. Many of these launches stemmed from Government Land Sales (GLS) sites, underlining the government’s continued effort to ensure a sustainable supply pipeline to meet housing needs.

The primary market’s resilience was complemented by sustained activity in the resale segment, which benefited from a tightening pool of completed units and healthy owner-occupier demand. Despite some buyers adopting a more selective approach, resale prices held firm, underscoring the market’s underlying stability.

As Singapore continues to advance its housing pipeline through GLS and urban renewal initiatives under the upcoming Draft Master Plan 2025, the residential market is well-positioned to maintain stability and gradual growth. Buyer prudence is still encouraged, but confidence is expected to strengthen in the months ahead as both affordability and supply visibility improve.

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here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight

Wee Hur and GSC Holdings Top Bid $613.9 Million for Upper Thomson Road GLS Site (Parcel A)

The top land bid for the Upper Thomson Road (Parcel A) site was submitted by Wee Hur Property Pte Ltd and GSC Holdings Pte Ltd at $613.9 million ($1,062 psf ppr). Their offer edged out the second-highest bid by a narrow 2.1%, underscoring the consortium’s strong conviction and competitive stance in securing this well-located site along the Thomson corridor. For Wee Hur, this marks a timely move to replenish its residential land bank, following its last notable condominium launch, Bartley Vue, a GLS site awarded in 2020.

The site had previously closed in June 2024 without any bids, likely due to the inclusion of a mandatory serviced apartment component in a location where demand for such units was largely untested. This reflected developers’ cautious stance toward projects in emerging residential areas with unconventional use requirements.

Responding to this, the Urban Redevelopment Authority (URA) introduced refinements in the 1H2025 GLS Programme to make the parcel more appealing. Serviced apartments were no longer a compulsory component, but subject to approval, giving developers more flexibility in conceptualizing their projects. This adjustment demonstrated URA’s responsiveness to market feedback and its commitment to aligning land parcels with prevailing demand dynamics.

These changes yielded positive results. The relaunch attracted five bids, a significant improvement over the earlier tender and even surpassing participation for the neighbouring Parcel B, which received only one bid. The renewed interest was also likely spurred by the successful launch of Springleaf Residence on the adjoining Parcel B site. Developed by GuocoLand and Intrepid Investments, Springleaf Residence achieved an impressive take-up rate exceeding 92% during its launch weekend, reinforcing developer confidence in the area’s growth potential.

The resurgence of interest signals growing recognition of the Springleaf Precinct as an emerging residential enclave with strong connectivity via the Thomson-East Coast Line. Supported by proximity to Springleaf MRT and the corridor’s lush greenery, the area is evolving into a sought-after address for both homeowners and investors.

With more than 95% of units sold, Springleaf Residence is expected to be fully sold before the Parcel A project launches. The limited unsold inventory and positive buyer sentiment will likely support new demand spillover from purchasers who missed earlier opportunities.

Overall, the tender results mark a turning point for Upper Thomson Road, reinforcing confidence in the precinct’s transformation into a vibrant and well-connected residential enclave in the northern region.

Click

here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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