A record-breaking 162 new executive condominiums (ECs) were sold for at least S$2m in March 2025, according to the latest data from the Urban Redevelopment Authority (URA). This surge in high-value transactions comes despite a general slowdown in new home sales, which saw a 54.4% drop to 729 units, excluding ECs, from February’s figures.
Including ECs, the total number of new home sales fell slightly by 7.1% from 1,626 units in February to 1,510 units in March. However, compared to March 2024, sales excluding ECs rose by 1.5%.
The majority of the high-value EC transactions were concentrated in three projects: Aurelle of Tampines, Lumina Grand, and Altura. Aurelle of Tampines alone accounted for 148 of the 162 transactions. The highest price per square foot (psf) reached S$1,879 for a 926 sq ft unit, whilst the priciest EC was a 1,356 sq ft unit at Aurelle of Tampines, sold for S$2.48m.
New launches in March were led by the 760-unit Aurelle of Tampines and the 477-unit Lentor Central Residences. Aurelle of Tampines was particularly successful, selling nearly 93% of its units. The project’s appeal lies in its proximity to amenities and transport links, including the upcoming Tampines North MRT station.
Sales in March, excluding ECs, were dominated by the Outside of Central Region (OCR), which accounted for 81.8% of transactions. The Rest of Central Region (RCR) and Core Central Region (CCR) followed with 11.9% and 6.3%, respectively.
Looking ahead, new tariffs on Singaporean imports to the US could impact the economy, potentially affecting homebuyer confidence. However, upcoming project launches, such as One Marina Gardens and The Robertson Opus, may sustain buying interest.
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