Singapore’s new home sales experienced a significant decline in March 2025, with a 54.4% drop from February’s figures, according to CBRE Research. The month saw 729 units sold, down from 1,597 in February, despite a slight year-on-year increase from 718 units in March 2024. The decrease is attributed to fewer launches, with only 555 new units introduced compared to February’s 1,694.
The top-selling project in March was the executive condominium (EC) Aurelle of Tampines, which sold 705 units at a median price of $1,769 per square foot (psf). This project benefitted from its strategic location near transport hubs and amenities. Lentor Central Residences, a new private launch, followed closely, selling 460 of its 477 units at a median price of $2,213 psf, despite concerns of oversupply in the Lentor area.
Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, noted that the strong performance of these projects was driven by attractive pricing and strategic locations. The Outside Central Region (OCR) dominated sales, contributing 81.8% of March’s new home sales.
Looking ahead, CBRE Research anticipates a stable market in April, with two major launches expected. However, the focus will shift to the Core Central Region (CCR), where higher price points may affect sales volumes. The full-year forecast for new home sales remains at 7,000 to 8,000 units, indicating a potential slowdown in the coming quarters. Private residential prices are expected to rise by 3-4% in 2025, although economic uncertainties may pose risks.
“`
