The Singapore property market kicked off 2025 with a significant surge in sales, as developers sold 1,083 units in January. This represents a remarkable 433.5% increase from December 2024 and a 256.3% rise compared to January 2024. The strong performance was driven by two major launches: Bagnall Haus and The Orie, which together accounted for nearly 70% of total sales.
Bagnall Haus, a freehold project located near an MRT interchange, sold more than 65% of its units at a median price of S$2,494 per square foot (psf). Meanwhile, The Orie saw 680 of its 777 units snapped up at a median price of S$2,731 psf, reflecting pent-up demand in the mature estate of Toa Payoh after an eight-year hiatus.
Sales were predominantly concentrated in the Rest of Central Region (RCR) and Outside Central Region (OCR), with the RCR accounting for 71.2% of sales. One Bernam emerged as the best-selling project in the Core Central Region (CCR), with 99 units sold, benefiting from promotional offers by the developer.
Foreign buyers made 13 purchases in January, with six of these in the CCR. Singaporeans comprised 90.3% of the buyers, while permanent residents accounted for 8.5%.
Looking ahead, February is expected to continue the positive trend, with major projects like ELTA and ParkTown Residence set to book sales. Developers are projected to sell between 7,000 and 8,000 units in 2025, with property prices estimated to grow between 4% and 7% barring unforeseen circumstances.
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