Private new home sales in Singapore soared by 45.4% in February 2025, reaching 1,575 units compared to 1,083 units in January, according to CBRE Research. This marks a significant increase from February 2024’s 153 units and represents a 13-year high for the month since February 2012.
The surge in sales is attributed to attractive new launches and improved buying sentiment, bolstered by lower mortgage rates. February saw the debut of two major suburban projects: Parktown Residence in Tampines and Elta in Clementi. Parktown Residence, an integrated development, sold 1,041 of its 1,193 units, whilst Elta moved 326 of its 501 units.
Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, noted, “The key draw for Parktown Residence was its unique status as an integrated development with direct access to amenities including a retail mall and the future Tampines North MRT station.”
The Outside Central Region (OCR) dominated sales, accounting for 92.2% of February’s transactions, driven by the success of Parktown Residence and Elta. The Rest of Central Region (RCR) and Core Central Region (CCR) contributed 6.2% and 1.6% of sales, respectively.
Looking ahead, CBRE Research forecasts 7,000 to 8,000 new homes will be sold in 2025, with private residential prices expected to rise by 3-6%. The market remains cautiously optimistic, with attractive pricing and a robust pipeline of launches anticipated to sustain momentum.
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