Asset Allocation Trends: High-Net-Worth Buyers Focus on Singapore's Prime Private Homes

Q1 Sales Surge 40% as Luxury Private Home Volume Hits One-Year High

Despite economic uncertainties and interest rates yet to decline significantly, Singapore's luxury private residential market staged a strong rebound in the first quarter of 2025, with transaction volumes hitting a fresh one-year high. The Core Central Region (CCR) emerged as the primary growth driver.

According to the latest market report, a total of 192 landed and non-landed luxury home transactions were recorded in the first quarter, up 40.1% quarter-on-quarter (QoQ) and surging 81.1% year-on-year (YoY), marking the highest quarterly volume since Q1 2023.

CCR Heats Up as One Bernam Leads the Charge

In this rebound of luxury residential transactions, the Core Central Region (CCR) performed exceptionally well, posting the largest increase in sales volume. Data shows that One Bernam served as the main sales driver, moving 102 units in a single quarter; Aurea recorded 24 transactions; while The Collective at One Sophia, Hill House, and 19 Nassim each logged 10 transactions.

This signals to market watchers that despite the dampening effect of hefty Additional Buyer's Stamp Duty (ABSD), demand from affluent local buyers and high-net-worth Permanent Residents remains resilient.

Modest Price Growth as Luxury Buyers Focus on Value Allocation

Urban Redevelopment Authority (URA) data also reveals that overall private residential property prices rose by 0.8% in Q1. While this marks the second consecutive quarter of growth, the pace has moderated noticeably compared to the 2.3% gain in the previous quarter.

Broken down by region: CCR prices grew by 0.8%; the Rest of Central Region (RCR) climbed 1.7%; while the Outside Central Region (OCR) inched up by just 0.3%.

A limited pipeline of new CCR project launches contributed to the slower pace of price growth. In contrast, new launches in RCR sub-markets such as Toa Payoh and Marine Parade drove more pronounced price gains.

Luxury Transaction Breakdown: Growth in $10M+ Ultra-Luxury Deals

Although overall non-landed luxury transactions priced at $5 million and above softened slightly from 107 units in Q4 to 102 units, deals valued at above $10 million increased from 13 to 17 transactions. This indicates that capital allocation among buyers is becoming increasingly concentrated in the ultra-high-net-worth segment.

This trend demonstrates that capital continues to flow into Singapore real estate as a preferred vehicle for long-term wealth allocation, as investors continue to place a premium on Singapore's safe-haven status and strong asset protection credentials.

Steady Supply Ramp-Up to Curb Overheating Risks

Looking ahead, the government has proactively ramped up land supply for private residential properties and Executive Condominiums (ECs): completions are projected to reach 7,968 units in 2026, rising further to 12,392 units by 2028.

This will help keep price fundamentals supported while guarding against market overheating, thereby maintaining a healthy demand-supply equilibrium.

Moving forward, prices are expected to chart modest growth, with future increases remaining largely rational.