Singapore’s private home prices rose 0.6% QOQ in Q1 2025, moderating from the previous quarter’s 2.3% gain. The RCR led growth (+1.0%), while OCR demand slowed sharply. New sales held steady at 3,379 units, led by Parktown Residence, but resale and sub-sale volumes declined. With global economic headwinds emerging, developers may adopt cautious pricing, creating opportunities for buyers. Here’s a full analysis of Q1 trends and the outlook ahead.
Price Movement
- Private home prices rose by 0.6% QOQ in Q1 2025, down from 2.3% QOQ in Q4 2024. This marked the second consecutive quarter of increase.
- Landed and non-landed homes each grew by 0.6% QOQ.
- In the non-landed segment:
- RCR: +1.0% QOQ (The Orie was the key launch with 690 units sold at $2,732 psf)
- CCR: +0.6% QOQ
- OCR: +0.3% QOQ (significant slowdown from +3.3% in Q4 2024)
- Landed segment: First increase in three quarters (+0.6% QOQ)
- Detached: +19.2% QOQ to $1,910 psf
- Semi-detached: +1.3% QOQ
- Terrace: +1.9% QOQ
Transaction Volume
- Landed homes: 443 units (↓13% from Q4).
- New private home sales (excl. EC): Estimated 3,379 units sold, similar to Q4 2024
- Top-selling project: Parktown Residence (OCR) – 1,059 units at $2,370 psf
- OCR led sales, contributing 66% of total new sales (2,233 units)
- Highest OCR quarterly performance since Q2 2013
- Resale: 3,158 units (↓14.7% QOQ)
- Top resale: Treasure at Tampines (46 units at $1,729 psf)
- Sub-sales: 240 units (↓23% QOQ)
- Total private homes sold (primary + resale): 6,777 units
Rental Market
- Jan–Feb 2025: 13,316 leasing contracts (~$71M), up slightly from same period in 2024.
- Median rental: $4.94 psf/month, up from $4.90 in Q4 2024.
- Highest rent for landed: $95,000/month (Cluny Rd); Non-landed: $39,000/month (Goodwood Residence, Hana, One Chatsworth).
- URA reported 1.9% rental decline in 2024 (first yearly decline since 2020).
Market Outlook
- External headwinds emerged in April 2025: US tariffs + China retaliation, spooking global markets.
- PropNex expects:
- New home sales: 8,000–9,000 units (excl. EC)
- Private resale: 14,000–15,000 units for full-year 2025
- Price growth: 3%–4%.
- Developers to price sensitively; good buying opportunities expected.
- Upcoming Q2 2025 launches:
- One Marina Gardens (937 units)
- Bloomsbury Residences (358 units)
- Arina East Residences (107 units)
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