Singapore’s property market experienced a notable decline in March 2025, with developers selling 729 units, marking a 54.4% decrease from the previous month. This drop is attributed to the absence of a mega launch, following the significant release of PARKTOWN Residence in February 2025.
Despite the overall dip, two major projects, Aurea and Lentor Central Residences, were launched in March. Lentor Central Residences emerged as the best-selling private residential project by percentage terms, with 460 units sold, representing 96.4% of its total offerings. Aurea, located along Nicoll Highway, sold 24 out of 78 units, aligning with past launches in the Core Central Region (CCR).
Huttons Data Analytics estimates that developer sales, excluding executive condominiums (ECs), reached approximately 3,400 units in the first quarter of 2025. This figure is the highest for a first quarter since 2021 and closely matches the 3,420 units sold in the fourth quarter of 2024.
The Outside Central Region (OCR) dominated sales in March, accounting for over 80% of transactions. The Rest of Central Region (RCR) and CCR contributed 11.9% and 6.3%, respectively. Notably, more than 60% of units sold at Lentor Central Residences were priced at $2 million or below, appealing to first-time buyers and HDB upgraders.
Looking ahead, April 2025 is expected to see sales between 500 and 600 units, with no delays anticipated in project launches for the remainder of the year. Developers plan to introduce 17 projects, including one EC, from May to the fourth quarter of 2025, totalling 7,470 units. Prices are forecasted to grow between 4% and 7% in 2025, driven by rising construction costs and major infrastructure projects.
