August 2025 turned out to be a landmark month for Singapore’s non-public housing market, with builders’ gross sales climbing to their highest degree in 9 months. A collection of high-profile mission launches throughout completely different areas powered the surge, whereas wholesome mass-market demand and a recovering luxurious phase gave the first market recent momentum.
Desk of contents
- New dwelling gross sales in August hit new heights
- OCR new launch condos led the cost
- Luxurious market within the CCR noticed sturdy rebound
- RCR gross sales moderated with fewer transactions
- Solely 73 unsold EC models after Otto Place launch
- Worth sensitivity and the “quantum play”
- Market momentum and purchaser profile
- Outlook: A pause earlier than one other push
New dwelling gross sales in August hit new heights
In accordance with the City Redevelopment Authority (URA), builders bought 2,142 new non-public houses (excluding govt condominiums, or ECs) in August. This represented a pointy 128% leap from July’s 940 models and a dramatic restoration in comparison with the mere 211 models bought in August 2024.
| Challenge | Area | No. of Items Bought | Median Worth PSF (S$) |
|---|---|---|---|
| Springleaf Residence | OCR | 884 | 2,166 |
| River Inexperienced | CCR | 451 | 3,111 |
| Promenade Peak | RCR | 333 | 2,919 |
| Canberra Crescent Residences | OCR | 211 | 1,991 |
| Bloomsbury Residences | RCR | 25 | 2,565 |
| UpperHouse | CCR | 22 | 3,353 |
| Artisan 8 | RCR | 15 | 2,386 |
| The Robertson Opus | CCR | 15 | 3,308 |
| One Marina Gardens | RCR | 13 | 2,909 |
| Lentoria | OCR | 12 | 2,291 |
| Grand Dunman | RCR | 11 | 2,571 |
The majority of the gross sales — about 88% — got here from 5 new initiatives launched throughout the month: River Inexperienced, Promenade Peak, Canberra Crescent Residences, Springleaf Residence, and Artisan 8. These developments collectively accounted for 1,894 transactions, demonstrating how new provide continues to be the principle driver of major market exercise.
On the availability entrance, builders launched 2,496 models in August, nicely above the 1,675 models launched in July. The mixture of recent launches and pent-up demand helped propel gross sales to ranges final seen in November 2024, when a flood of latest initiatives additionally hit the market.
Learn extra: 6 new apartment launches in November 2024, lowest value at S$1,489 psf
OCR new launch condos led the cost
The Outdoors Central Area (OCR), typically seen because the bellwether of housing demand amongst HDB upgraders and price-conscious patrons, noticed notably sturdy exercise. Builders bought 1,153 OCR models in August, a stark distinction to only 70 transactions in July when no main launches had been out there.
The clear standout was Springleaf Residence alongside Higher Thomson Street, which bought 884 of its 941 models (94%) at a median value of S$2,166 psf. This made it not solely the top-selling mission within the OCR but additionally throughout the complete marketplace for the month. One other OCR launch, Canberra Crescent Residences, transacted 211 models (56% of its complete) at a median value of S$1,991 psf.
Each initiatives benefited from strategic places, accessible value quantum, and proximity to established residential estates, making them enticing to households and first-time non-public homebuyers.
Luxurious market within the CCR noticed sturdy rebound
The Core Central Area (CCR) additionally noticed a big rebound in exercise, with 513 new houses bought — the strongest month-to-month gross sales in additional than 4 years, since March 2021. This represented a 44% enhance from July’s 357 models, underlining renewed urge for food for luxurious houses regardless of cooling measures such because the Further Purchaser’s Stamp Obligation (ABSD).
The most important CCR success was River Inexperienced, which bought 451 models at a median value of S$3,111 psf. One other high-profile growth, UpperHouse at Orchard Boulevard, moved 22 models at a median of S$3,353 psf. Collectively, these initiatives have already bought greater than two-thirds of their stock, pointing to sturdy purchaser confidence in prime district dwelling.
Notably, two of the priciest transactions in August additionally occurred on this phase. At 21 Anderson, a freehold luxurious mission, models fetched S$52.25 million and S$21.06 million, underscoring the continued enchantment of ultra-luxury houses amongst high-net-worth patrons.
RCR gross sales moderated with fewer transactions
Within the Remainder of Central Area (RCR), 476 new models had been bought in August, barely decrease than the 513 in July. The market was led by Promenade Peak, which moved 333 models (56% of its 596 complete) at a median of S$2,919 psf. Different contributors included Bloomsbury Residences with 25 models and Artisan 8 with 15.
Though gross sales moderated, the RCR is anticipated to regain traction later this yr. A number of large-scale launches are lined up, together with The Sen, Zyon Grand, and Penrith at Margaret Drive, which collectively will carry over 1,500 models to the market.
Solely 73 unsold EC models after Otto Place launch
The EC market, which blends non-public apartment dwelling with authorities subsidies, noticed a pullback in August in comparison with July, when Otto Place was first launched. Builders moved 196 EC models, down 47% from July’s 371.
In August, Otto Place EC continued to dominate, promoting 191 models at a median value of S$1,760 psf after gross sales opened to extra second-timer patrons. As of the top of August, the 600-unit mission was already 90% bought, highlighting the enduring reputation of ECs amongst households in search of affordability.
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The EC pipeline stays skinny, with simply 73 unsold EC models left out there. This restricted provide is anticipated to help sturdy take-up for upcoming launches reminiscent of Coastal Cabana EC in Jalan Loyang Besar and an EC at Tampines Avenue 95, each anticipated round Q1 2026.
within the upcoming EC launches? See the whole 2025/2026 listing right here.
Worth sensitivity and the “quantum play”
One hanging function of August’s gross sales was how builders calibrated pricing to fall inside patrons’ consolation zones. Based mostly on caveat knowledge, 79% of models bought throughout the 5 new launches had been priced beneath S$2.5 million. At OCR initiatives like Canberra Crescent Residences and Springleaf Residence, 98% and 82% of gross sales, respectively, had been concluded beneath the brink.
Wong Siew Ying, Head of Analysis & Content material at PropNex, famous that “builders’ pricing technique for brand new launches will probably be pushed by quantum play, as they search to maintain an ample portion of models throughout the pricing sweet-spot of between S$1.5 million and S$2.5 million.”
Median transaction values additionally mirrored this pricing technique. Throughout the primary eight months of 2025, the median value of non-landed new non-public houses (ex. EC) stood at S$2.01 million, barely beneath the 2024 common of S$2.09 million.
Market momentum and purchaser profile
The August rally contributed to a robust displaying in 2025 to date. From January to August, builders bought 7,669 new houses, already surpassing the annual totals achieved between 2022 and 2024. Wong initiatives that 9,000 to 10,000 models could possibly be bought by year-end, revising earlier forecasts upward.
The client combine additionally strengthened the dominance of native demand. Singaporeans accounted for 90.6% of transactions, whereas Everlasting Residents made up one other 8%. International patrons had been minimal, at simply 1.4% or 30 transactions, primarily in CCR initiatives like River Inexperienced and UpperHouse.
This aligns with expectations that prime ABSD charges proceed to suppress overseas funding, leaving Singaporeans and PRs to drive the majority of major gross sales.
Outlook: A pause earlier than one other push
Whereas August was distinctive, the market is about for a quieter September. The “ghost month” within the lunar calendar historically slows property exercise, as builders maintain again on launches and a few patrons delay purchases.
Momentum is anticipated to return within the fourth quarter, when a number of main launches are slated. Past the RCR initiatives already talked about, the market will even see the 666-unit Skye at Holland within the CCR and 399-unit Faber Residence within the OCR. Collectively, greater than 2,500 new models are anticipated to hit the market throughout sub-regions, providing patrons a wider selection.
See the total listing of latest launch initiatives in 2025 right here.
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