Developers in Singapore experienced a surge in new home sales in February 2025, achieving a nine-year high with 1,575 units sold, excluding executive condominiums. This represents a 45% increase from January’s 1,083 units and a dramatic rise from the 153 units sold in February 2024. The impressive figures were largely driven by the success of two new launches, Parktown Residence in Tampines and ELTA in Clementi, which together accounted for 87% of the month’s sales.
The Outside Central Region (OCR) dominated February’s transactions, contributing 92% of the total sales with 1,452 units sold. Parktown Residence emerged as the top-selling project, moving 1,041 units at a median price of $2,363 per square foot (psf). ELTA followed, selling 326 units at a median price of $2,538 psf. Wong Siew Ying, Head of Research and Content at PropNex Realty, noted, “Brisk sales at Parktown Residence and ELTA have supercharged new home sales in February, extending the trend of healthy take-up rates at many new launches since November 2024.”
In contrast, the Rest of Central Region (RCR) saw a significant drop, with only 98 units sold compared to 771 in January. The Core Central Region (CCR) also experienced a decline, with 25 units sold, down from 121 in January. The additional buyer’s stamp duty is partly attributed to the muted sales in the CCR.
Looking ahead, sales in March are expected to be lower due to fewer new launches. However, the strong performance in February indicates a resilient demand for mass market homes, with developers likely to continue focusing on pricing strategies that appeal to owner-occupiers.
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