Developers in Singapore experienced a significant boost in property sales in February 2025, with a 45.4% increase compared to January, reaching 1,575 units sold. This surge was largely attributed to the successful launches of two major projects, ELTA and PARKTOWN Residence, which together accounted for 86.8% of the month’s total sales.
ELTA, located along Clementi Ave 1, sold 326 units, capitalising on its status as the last available parcel for condominium development in the area. Buyers were eager to invest, anticipating potential capital appreciation due to the limited supply. Meanwhile, PARKTOWN Residence in Tampines achieved a remarkable 1,041 units sold, marking it as the first mega project since 2015 to sell over 1,000 units during its launch weekend. This reflects the growing popularity of fully integrated developments and confidence in the Tampines 5-year masterplan.
In terms of market segments, the Outside Central Region (OCR) dominated with 92.2% of total sales, whilst the Rest of Central Region (RCR) and Core Central Region (CCR) accounted for 6.2% and 1.6%, respectively. Singaporeans made up 92.4% of the buyers, with permanent residents and foreigners comprising the remainder.
Looking ahead, March 2025 is expected to continue the momentum with three new launches: Aurea, Aurelle of Tampines (EC), and Lentor Central Residences. These projects have already seen strong sales, with Lentor Central Residences selling 93.3% of its units. Huttons Data Analytics anticipates that developer sales in Q1 2025 will exceed 3,200 units, the highest since 2021, driven by rising wealth and lower interest rates. The property market is projected to grow between 4% and 7% in 2025.
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