In a gradual shift, private home prices in Singapore edged up by a modest 0.5% during the second quarter of 2025, marking a slowdown from the more robust 0.8% growth seen in the previous quarter. According to the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB), this slower pace reflects a more sustainable trend in the housing market.
A recent report by PropNex highlights the impact of weaker sales and a limited number of new launches on private residential property prices, while also noting that the robust supply of new flats and various cooling measures have put pressure on the prices of HDB resale flats. Notably, in Q2 2025, a flat in Queenstown achieved a record-high resale price, contributing to a new quarterly peak for properties sold at over $1 million.
The growth in home prices was predominantly fueled by the landed private homes segment, where prices increased by 0.7% quarter-over-quarter. Despite this rise, transactions in this segment saw a significant dip of about 17.5%, with only 410 units sold during Q2. Interestingly, the average unit price per land area jumped by 1.2%, thanks largely to the semi-detached and terrace house markets—but who would have thought a slice of land could fetch such a premium?
For non-landed private homes, prices rose by 0.5% quarter-over-quarter, showing a clear deceleration from the 1.0% growth in the first quarter. The Rest of Central Region (RCR) witnessed its first price decline in six quarters, with a notable drop of 1.1%. Meanwhile, the Core Central Region (CCR) and Outside Central Region (OCR) defied the trend, seeing respective price increases of 2.3% and 0.9% in the same period.
New launches during this quarter were predominantly centered in the RCR, with projects such as One Marina Gardens and Bloomsbury Residences hitting the market. One Marina Gardens stood out, selling 462 units at an average price of approximately $2,951 per square foot, while Bloomsbury Residences moved 151 units at about $2,477 per square foot.
PropNex estimates that developers sold at least 1,153 new units (excluding executive condos) in Q2 2025, bringing the total for the first half of the year to an impressive 4,528 units—a significant increase from the 1,889 transactions in the same period last year. As we look to the upcoming quarter, the expectation is clear: new private home sales are likely to gain momentum with a robust assortment of launches on the horizon. Meanwhile, the resale market reflects a strong activity level, with 2,949 transactions recorded in Q2, slightly surpassing the 1H 2024 figures.
What is the current trend in Singapore’s property market?
Private home prices are experiencing a modest increase of 0.5% in Q2 2025, indicating a shift towards more sustainable growth.
How have recent cooling measures affected resale flat prices?
The introduction of cooling measures and an ample supply of new flats have exerted downward pressure on HDB resale flat prices.
What impact did new launches have on private home sales this quarter?
New launches significantly boosted private home sales, with developers recording 1,153 new units sold in Q2 2025, highlighting a compelling demand in the market.
