New private home sales in Singapore saw a significant drop in March 2025, with developers selling 729 units, excluding executive condominiums (ECs), marking a 54.4% decrease from February’s 1,597 units. The decline is attributed to the lack of major condominium launches and uncertainties surrounding US tariffs, which may affect buyer sentiment.
The month witnessed a stronger performance in the EC segment, particularly with the Aurelle of Tampines EC, which sold 705 out of its 760 units. This project was one of three new launches in March, alongside Lentor Central Residences and Aurea. Lentor Central Residences alone accounted for 63% of the month’s total developer sales, highlighting the continued demand for mass-market homes.
In terms of regional performance, the Outside Central Region (OCR) led the sales with 596 units sold, though this was a sharp decline from February’s 1,469 units. Lentor Central Residences was the top-selling project in the OCR, moving 460 units at a median price of $2,213 per square foot (psf). Meanwhile, the Rest of Central Region (RCR) saw its lowest sales in three months, with 87 units sold, whilst the Core Central Region (CCR) experienced a 64% increase in sales, driven by the Aurea project.
Wong Siew Ying, Head of Research & Content at PropNex Realty, noted that the slower sales were primarily due to the absence of large-scale project launches. Despite the market uncertainties, Wong remains optimistic about the resilience of private housing demand, citing strong financial holding power among homeowners and developers, as well as stabilising macroprudential measures.
Looking ahead, PropNex projects that new home sales could reach between 8,000 and 9,000 units in 2025, supported by a robust pipeline of new launches. Additionally, private home prices are expected to rise by 3% to 4% this year, driven by upcoming projects in the CCR and RCR.
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