Singapore’s Private Home Sales Hit 2025 Low in May, But Still Up 40% From Last Year
Singapore’s private property market slowed down in May 2025, with only 312 new homes sold. That’s the lowest monthly figure this year. Still, it’s a 40% jump compared to May 2024, when just 223 units were sold.
The slowdown came as no new residential projects were launched in May. Experts say the general election and school holidays likely distracted both developers and buyers.
Wong Siew Ying from PropNex explained that new launches usually drive monthly sales, so the dip wasn’t surprising. Nicholas Mak from Mogul.sg added that economic uncertainty and job market concerns are making both developers and buyers more cautious.
Including executive condominiums (ECs), 336 units were sold in May, with only 20 new units launched. In contrast, April saw 759 units sold and over 1,300 launched.
Despite the quiet month, the total number of new homes sold in the first five months of 2025 has reached around 4,350. That’s more than double the 1,688 units sold during the same period last year, according to SRI’s Mohan Sandrasegeran.
| Project Name | Developer | Location | District | Tenure | Est Units | Est Launch |
|---|---|---|---|---|---|---|
| W Residences Marina View – Singapore | IOI Properties | Marina View | 1 | 99 years | 683 | Jul 2025 |
| Artisan 8 | Apex Asia Development | Sin Ming Road | 20 | Freehold | 34 | Jul 2025 |
| LyndenWoods | CapitaLand Development Singapore | Science Park Drive | 5 | 99 years | 343 | Jul 2025 |
| Otto Place EC | Hoi Hup Realty, Sunway Developments | Plantation Close | 24 | 99 years | 600 | Jul 2025 |
| The Robertson Opus | Frasers Property, Sekisui House | Robertson Walk | 9 | 999 years | 348 | Jul 2025 |
| Upperhouse at Orchard Boulevard | UOL Group, Singapore Land Group | Orchard Boulevard | 10 | 99 years | 301 | Jul 2025 |
| Canberra Crescent | Kheng Leong, Low Keng Huat | Canberra Crescent | 27 | 99 years | 376 | Aug 2025 |
| Springleaf Residence | GuocoLand, Hong Leong Holdings | Upper Thomson Road | 26 | 99 years | 941 | Aug 2025 |
| Promenade Peak | Allgreen Properties | Zion Road | 3 | 99 years | 596 | Aug 2025 |
| River Green | Wing Tai | River Valley Green | 9 | 99 years | 525 | Aug 2025 |
| Skye at Holland | CapitaLand Development, UOL, Singapore Land, Kheng Leong | Holland Drive | 10 | 99 years | 666 | Sep 2025 |
| Dairy Farm Walk | Santarli Construction, Apex Asia Group, Soon Li Heng Civil Engineering, Kay Lim Realty | Dairy Farm Walk | 23 | 99 years | 540 | Sep/Oct 2025 |
| The Sen | Sustained Land | De Souza Avenue | 21 | 99 years | 347 | Sep/Oct 2025 |
| Zyon Grand | City Developments Limited, Mitsui Fudosan | Zion Road | 3 | 99 years | 706 | Sep/Oct 2025 |
| Penrith | Hong Leong Holdings, Hong Realty, GuocoLand | Margaret Drive | 3 | 99 years | 462 | Oct/Nov 2025 |
| Faber Residence | GuocoLand, Hong Leong Holdings, Mitsui Fudosan | Faber Walk | 5 | 99 years | 399 | Nov 2025 |
| Total | 7,867 | |||||
Source: URA, Huttons Data Analytics as at Jun 16, 2025
Luxury Homes Still in Demand
While overall sales were down, the luxury segment remained active. Nine non-landed homes priced between S$5 million and S$10 million were sold in May, up from just two in April. Three homes sold for over S$10 million, matching April’s numbers.
The most expensive deal was a 4,489 sq ft unit at 21 Anderson in District 10, which sold for S$24 million. Two other units at 32 Gilstead in District 11 went for S$15.1 million each.
All three high-end homes were bought by permanent residents. Singaporeans made up 83.4% of purchases above S$1.5 million, while foreigners accounted for just 2.2%.
June Outlook: More Slow Sales Expected
June is expected to be another quiet month. The only new launch so far is Arina East Residences, which released a few units to invited buyers. Just nine out of 107 units have been sold, at a median price of S$2,982 per square foot.
Justin Quek from OrangeTee said global trade tensions and economic uncertainty may keep buyers cautious. However, falling interest rates could attract some investors and help HDB upgraders afford private condos.
More Launches Coming in Second Half of 2025
Looking ahead, about 16 new projects with over 7,800 homes could launch in the second half of the year. These include:
- W Residences Marina View – Singapore (683 units, District 1)
- LyndenWoods (343 units, District 5)
- Otto Place EC (600 units, District 24)
Tricia Song from CBRE noted that many of these projects are in central areas where prices are higher. As a result, monthly sales may stay below 1,000 units, and total sales for the year could range between 7,000 and 8,000 units.
She added that prices may still rise 3% to 4% this year due to low unsold inventory and strong household finances. But if the economy weakens further, growth could slow down in the coming quarters.
