[New Launch] Supply Peak in the Core Central Region Ahead of Future Tightening: Is 2025 a Buying Window?

Core Central Region (CCR): Undervalued Haven or Prime Value Play?

For Singapore's property market, 2025 marks a resounding resurgence for the Core Central Region (CCR). Data reveals that six new projects have launched in the CCR so far this year, contributing over 2,000 new units. With the launch of Skye at Holland in October, total new launch units for the year are projected to reach 2,728—setting a fresh high since 2021.

Bumper Supply Meets Robust Buyer Demand

This year sees the highest CCR supply injection since 2021. The CCR encompasses Districts 9, 10, and 11, along with Sentosa Cove (District 4) and the Downtown Core (Districts 1, 2, 6, and 7).

Earlier this year, the price gap between the CCR and the Rest of Central Region (RCR) narrowed to a historic low of just 4.5%. This was primarily driven by rapid price appreciation in the RCR while CCR prices remained relatively tempered, briefly dipping below $2,900 psf in Q1 2025.

However, following a cluster of major launches across July and August, average new launch prices in the CCR swiftly rebounded to above $3,200 psf, widening the price premium over the RCR back to nearly 20%. Behind this rally lies both the irresistible allure of prime locations and strategic developer pricing.

"Value-for-Money" Luxury: Pricing Nips at the Heels of RCR

A number of new CCR projects have rolled out remarkably competitive pricing structures:

River Green: Median price of $3,111 psf

UpperHouse at Orchard Boulevard: $3,274 psf

The Robertson Opus: $3,359 psf

With price points hovering close to concurrent RCR launches (such as Promenade Peak at $2,920 psf and Arina East Residences at $2,982 psf), many upgraders and investors have been enticed to step up into the CCR.

Notably, River Green moved 88% of its units during its launch weekend. Out of 524 units, 352 were priced below $2.5 million, highlighting how developers successfully unlocked market liquidity via an accessible "bite-sized quantum" approach.

Shifting Buyer Demographics

Following several rounds of Additional Buyer's Stamp Duty (ABSD) hikes in recent years—most notably the doubling of foreign buyer ABSD to 60% in April 2023—the CCR buyer profile has undergone a profound transformation:

In 2025, approximately 80% of buyers are locals (up from 71.9% in 2023), whereas foreign buyer representation plunged from 10.3% to a mere 3%.

This indicates that the CCR is evolving from an "international speculative hotspot" into a premier "wealth preservation haven for affluent local buyers".

Future Supply: Tightening Following the Peak

Land supply in the CCR primarily stems from two channels: collective sales (en bloc) and the Government Land Sales (GLS) programme.

The en bloc wave of 2017–2018 fed into a supply surge between 2019 and 2021.

From 2022 to 2024, amid intensified cooling measures, new CCR pipeline volumes contracted significantly.

In 2025, GLS sites in Holland Road, Orchard Boulevard, and River Valley came to fruition, ushering in a fresh wave of launches. However, from 2026 onwards, new CCR supply is projected to taper off dramatically to an estimated 955 units.

Consequently, the 2025 supply crest may well present a rare window of opportunity before options become scarce.

Price Resilience and Market Outlook

Looking ahead, analysts broadly expect CCR price movements to stay resilient:

URA data shows that CCR non-landed private home prices rose by 3.8% in the first half of 2025.

PropNex forecasts that the full-year CCR price index could climb by 5% to 6%, outpacing the 4.5% recorded in 2024.

Underpinned by tapering future supply, intergenerational wealth transfers, and strong domestic high-net-worth demand, the CCR remains the preferred bastion for long-term capital preservation.

Heading into Q4, the market will witness the debut of Skye at Holland, which is poised to keep CCR transaction momentum humming.

Project Spotlight: The Collective at One Sophia — A Rare Entry Below $3,000 psf

Against the backdrop of CCR launch prices consolidating around $3,200 psf, The Collective at One Sophia on Sophia Road in District 9 stands out with an average price of $2,752 psf, offering an exceptionally competitive gateway into prime CCR real estate.

Key Project Highlights

Residential: 367 units across two 19-storey towers

Development Type: 99-year leasehold mixed-use development featuring commercial offices and retail spaces

Unit Mix: Studio to 3-bedroom configurations, ranging from 431 to 1,023 sq ft

Attractive Price Entry Points

Studio (431 sq ft): From approx. $1.223M ($2,838 psf)

1-Bedroom + Study (549 sq ft): From approx. $1.505M ($2,741 psf)

2-Bedroom Deluxe (646 sq ft): From approx. $1.809M ($2,800 psf)

3-Bedroom Premium (1,023 sq ft): From approx. $2.874M ($2,809 psf)

Priced comprehensively below prevailing CCR benchmark levels, the development offers immense comparative appeal against new launches in Orchard and Bugis.

Prime Locational Value

Strategically positioned at the vibrant intersection of Orchard Road and the Bras Basah.Bugis arts and heritage precinct, the project enjoys seamless connectivity with four MRT stations (Bencoolen, Rochor, Bras Basah, and Dhoby Ghaut) all within a 700-metre radius.

The vicinity is surrounded by reputable educational institutions, including Singapore Management University (SMU), LASALLE College of the Arts, NAFA, and the newly established University of the Arts Singapore, alongside prestigious primary schools like St. Margaret's School (Primary) and Anglo-Chinese School (Junior).

The debut of The Collective at One Sophia not only offers an attractive avenue into prestigious District 9, but also injects fresh vitality into the Sophia Road enclave as it evolves into an energetic cultural and lifestyle hub.

Conclusion

For the Core Central Region, 2025 has unlocked a prime window marked by strong sales volume and firm pricing: a healthy cluster of new launches provides buyers with unprecedented variety, while the narrower pricing delta against the RCR underscores the value proposition of prime property. As this launch peak passes and pipeline supply tightens over the coming years, pricing resilience in prime locales will only strengthen.

Amid these market tailwinds, marquee developments such as Skye at Holland will sustain market attention, while The Collective at One Sophia provides an increasingly rare entry ticket below the $3,000 psf threshold. For discerning buyers seeking a foothold in Singapore's prime core, the current window represents an opportune time to enter.