%20(1).jpg?85r1hjC5gCPHhesK.OVGpU0VLWPpqKgV&itok=7qsuGd-- "One Marina Gardens was the top-selling project for a third consecutive month (Picture: Kingsford Group)")
New private home sales saw another tepid month in June amid an absence of major project launches. Data published by URA on July 15 shows that developers shifted 272 homes excluding executive condos (ECs) last month, falling 12.8% m-o-m from the 312 units moved in May. On a y-o-y basis, June’s new home sales were up 19.3% compared to 228 units sold the same month last year.
“Sales were muted as most developers held back new launches during the June school holidays, when many prospective buyers were overseas,” remarks Marcus Chu, CEO of ERA Singapore.
The only launches in June were the 105-unit Amber House in the East Coast and the 107-unit Arina East Residences in Tanjong Rhu, the latter of which saw a limited number of units released for sale by invitation only. Developers launched a total of just 187 new homes last month, though this is over eight times more than the 20 units launched in May.
One Marina Gardens and Bloomsbury Residences remained the two top-selling projects for a third consecutive month. The 937-unit One Marina Gardens in Marina South moved 49 units last month at a median price of $2,962 psf, while the 358-unit Bloomsbury Residences at Media Circle shifted 30 units at a median price of $2,516 psf. Both projects were launched in April.
Top-Selling Private Residential Projects (ex. ECs) in June 2025
Projects in the Rest of Central Region (RCR) continued to dominate developers’ sales, making up 189 or nearly 70% of new homes sold. This is on par with the 191 RCR homes sold in May.
Projects in the Outside Central Region (OCR) moved 69 units in June, falling from the 106 units sold in May and making up a quarter of total new home sales. The top-selling OCR project was Hillock Green, where 12 units were transacted at a median price of $2,311 psf. Meanwhile, developers sold 14 new homes in the Core Central Region (CCR), inching down from the 16 units sold in May.
In the EC segment, developers sold 33 units in June, up 37.5% from the 24 units moved in May. The units came from existing EC projects, namely Aurelle of Tampines, Sim Lian Group’s EC on Tampines Street 62. The 760-unit development shifted 15 units at a median price of $1,813 psf.
1H2025 figures show improved performance
While June’s new home sales marked a fourth consecutive month of decline, developers’ sales for the first half of the year show a marked improvement compared to past years, highlights Christine Sun, chief researcher and strategist at Realion Group.
Monthly new home sales over the last six months
Developers moved 4,634 units excluding ECs between January and June, a 145% surge over the 1,889 units sold in 1H2024. It is also 37% higher than the 3,383 and 4,222 units sold across the same period in 2023 and 2022. “This trend underscores the resilience of the private market amid an improving mortgage environment,” adds Sun.
The better new home sales in 1H2025 compared to last year have coincided with a gradual return in demand from non-citizen buyers. Permanent residents (PRs) accounted for 396 new homes sold in 1H2025, more than double the 189 units transacted in the same period last year, observes Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc. Similarly, foreigners purchased 56 units, up 40% from the 40 units the cohort bought in 1H2024.
Sandrasegeran believes that attractive project launches are helping to lure more non-citizen buyers back, alongside Singapore’s continued appeal as a safe and stable property market. Nonetheless, property demand remains largely domestic, with Singapore citizens accounting for about 90% of all new non-landed private home sales in 1H2025, he adds.
In any case, PR buyers boosted the luxury home market, which saw a modest pickup in June. URA data shows that 16 new private homes were sold for over $5 million last month, compared to 13 transactions in May. According to ERA’s Chu, PRs accounted for nine of the deals, including the three biggest ones: the sale of a 5,285 sq ft unit at Skywater Residences for $30.8 million, and the sales of two 4,200 sq ft, four-bedroom units at 32 Gilstead for $15 million apiece.
July to see sales rebound, CCR launches
Developers’ sales are expected to pick up in July, supported by several new launches. Units sold at LydenWoods, CapitaLand Development’s 343-unit condo in Singapore Science Park, which launched last weekend, have already exceeded June’s new home sales. The developer moved 324 units at the condo at an average price of $2,450 psf.
“Following the strong performance at the launch of LyndenWoods, we expect that it could help to generate some buzz in the new home sales market over the next few weeks as more launches come up,” says Wong Siew Ying, head of research and content at PropNex Realty. Two more projects – the 348-unit The Robertson Opus on Robertson Walk and the 301-unit Upperhouse at Orchard Boulevard – will launch the weekend of July 19 and 20. Together with LydenWoods, the three developments represent nearly 1,000 new private homes.
Wong also points out that the CCR is poised to see a rebound after months of muted activity due to the absence of launches. Both The Robertson Opus and Upperhouse are located in the region, while another CCR project, the 683-unit W Residences Marina View – Singapore, will conduct a private preview in July. Wong notes that new homes sold in the CCR have averaged at 53 units monthly since Additional Buyer’s Stamp Duty rates were tightened in April 2023.
She believes developers are on track to log between 8,000 and 9,000 new home sales (excluding ECs) for the whole of 2025, beating the 6,469 units sold in 2024.
Mark Yip, CEO of Huttons Asia, anticipates more launches in the near term as developers look to capitalise on the period before the seventh lunar month, which will start from Aug 23 and end in mid-September. Other projects already on track for launch include the 524-unit River Green by Wing Tai Holdings and the 596-unit Promenade Peak. Located in River Valley, both projects will commence sales bookings on Aug 2.
Yip expects July developers’ sales to clock in between 600 and 700 units, while full-year sales could range from 7,500 to 8,500 units.
Meanwhile, the EC market will get a boost from Otto Place, the 600-unit EC by Hoi Hup Realty and Sunway Developments in Tengah that will commence bookings on July 19. ERA’s Chu expects the project to see strong demand given that the available stock of ECs has been depleted to just 18 units as of end-June. “Future EC supply will also be further boosted by the yet-unnamed project at Jalan Loyang Besar, which could debut in 4Q 2025,” he adds.
