SRI - Singapore Realtors Inc.

15 Jan 2026

Developer Sales Performance in December 2025

December 2025 marked a seasonal pause in developer sales, but the broader outlook for the private residential market remains constructive. Developer sales excluding Executive Condominiums totalled 197 units for the month, moderating from the 325 units recorded in November. This moderation was largely expected and seasonal in nature, as the year-end holiday period typically coincides with fewer project launches and softer buyer activity. Importantly, the slower pace reflects timing and launch dynamics rather than any deterioration in underlying demand fundamentals.

Buyer activity in December was driven mainly by existing projects rather than fresh supply. With limited new project introductions during the month, sales momentum concentrated around ongoing launches. The Continuum emerged as the top selling project with 31 units sold at a median price of $2,498 psf, underscoring sustained demand for well-located Rest of Central Region developments that offer a balance between accessibility, lifestyle amenities, and relative affordability compared to Core Central Region options. Other projects across both the RCR and Outside Central Region also recorded steady transactions, highlighting continued buyer engagement even during a quieter month.

While December activity moderated, the full year performance of the primary market tells a much stronger story. New private home sales rebounded firmly in 2025, with total transactions reaching an estimated 10,821 units. This represents a 67.3% year on year increase compared to 6,469 units in 2024, signaling a broad based recovery following a more subdued prior year. The improvement was observed across all regions, pointing to a more active and balanced primary market environment.

Several structural factors supported this rebound. A key driver was the ramp up in Government Land Sales supply from earlier awarded sites, which translated into a larger and more visible pipeline of project launches. In 2025, an estimated 11,482 private residential units were launched, marking the highest annual launch volume since 2013. This expansion in supply widened buyer choice and helped anchor price expectations, contributing to a more orderly growth environment.

At the same time, developers have remained measured in their launch strategies. Rather than releasing supply aggressively, project launches have generally been paced in line with prevailing market conditions and absorption rates. This disciplined approach has supported healthier take up patterns and reduced volatility in the new sales market. A strong GLS pipeline has also provided developers with opportunities to replenish land banks, supporting continuity in development activity without placing undue pressure on pricing.

Looking ahead, these dynamics have set a stable foundation entering 2026. While sales volumes may ease from the exceptional levels seen in 2025, buyer demand is expected to remain resilient. With a diverse slate of upcoming projects and a steady flow of new supply, the primary market is likely to continue operating within a more balanced and sustainable growth phase.

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

15 Jan 2026

Sim Lian Emerges Top Bidder for Second Woodlands Drive 17 EC Site

The tender for the Executive Condominium site at Woodlands Drive 17 attracted a total of 3 bidders, with Sim Lian Group emerging as the top bidder with an offer of $484.0 million, translating to a land rate of $794 psf ppr. This outcome reflects continued developer appetite for well-located EC sites, even as bidding behaviour remains selective in the current market environment. The close spread between the top 2 bids also indicates disciplined pricing assumptions across participating developers.

This is the second EC parcel introduced at Woodlands Drive 17 in recent years, reinforcing the area’s growing prominence as an emerging EC cluster in the North. The earlier EC site at the same location was awarded in August 2025 at $782 psf ppr, following strong participation from 5 bidders. The back-to-back release of EC sites in this location provides useful price discovery for the market and suggests that developers remain comfortable underwriting projects in this area amid firm construction costs and a stable demand outlook.

The site benefits from strong locational fundamentals. It is located next to Woodlands South MRT station on the Thomson East Coast Line, offering residents direct rail connectivity to key employment nodes and city areas. This is complemented by good road accessibility via the Seletar Expressway, enhancing overall connectivity. The proximity to established schools such as Woodgrove Primary School and Singapore Sports School further supports its appeal to family-oriented buyers and HDB upgraders seeking long term housing options within a well-planned residential environment.

With an estimated yield of about 560 residential units, the site presents an opportunity to address pent up demand for new EC supply in the North. ECs continue to be well received by young families and upgraders due to their relative affordability compared to private condominiums, while still offering similar lifestyle amenities. Given the limited number of EC launches in the North in recent years, take up prospects for a future development on this site are expected to be supported by underlying upgrader demand from surrounding HDB estates.

Looking ahead, the EC market is entering a phase of greater supply visibility following the recent ramp up in GLS supply. The increase in EC land availability is expected to reduce supply driven price pressures over the longer term. As a result, future price movements are likely to be more measured and increasingly driven by project specific factors such as location, product design, and layout efficiency, supporting a more balanced and sustainable EC market environment.

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for the full report:

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email:

mohan@sri.com.sg

07 Jan 2026

Singapore Landed Property Market Review and Outlook 2026

The landed housing market recorded a clear recovery in 2025, following a more cautious environment in 2024. The landed property price index rose by 7.7% in 2025, a notable improvement from the 0.9% increase recorded a year earlier. This reflects a gradual return of confidence in the landed segment, supported by stronger demand for larger landed homes and a pickup in higher value transactions.

Transaction activity also recovered steadily over the year. Total landed transactions increased from 1,938 units in 2024 to about 2,070 units in 2025, representing a 6.8% year on year increase. In value terms, total transacted value rose more sharply from $10.33 billion to $12.31 billion, an increase of 19.3%. The faster growth in value relative to volume points to a higher concentration of big ticket transactions, particularly at the upper end of the market.

Detached and semi-detached houses recorded the strongest momentum within the landed segment. Detached house transactions rose by 15.6% year on year, while semi-detached house transactions increased by 16.6%. Buyers in this segment are typically driven by long term housing needs, legacy planning, and land considerations, and are generally less sensitive to short term interest rate movements or policy adjustments. This helped anchor demand for larger landed formats even as broader market conditions remained calibrated.

Looking ahead to 2026, the landed housing market is expected to remain resilient, supported by sustained demand from well capitalised buyers and a continued preference for larger landed formats. Demand is expected to be driven primarily by private homeowners upgrading within the private residential segment, as well as high net worth buyers seeking long term wealth preservation and legacy assets. Limited availability of redevelopment plots is expected to keep prices firm, particularly for homes with larger land areas and redevelopment potential.

The upcoming launches of boutique freehold landed projects such as Vila Naga in Bukit Timah and Vila Natura in Lentor. Overall, the landed housing market in 2026 is expected to remain supported by steady demand, selective buying conditions, and continued interest in quality landed assets as a long-term component of Singapore’s residential market.

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here

for the full report

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg