Singapore Luxury Homes Once Again a Safe Haven for Capital

High-End Demand Rebounds: Singapore Luxury Home Market Heats Up Significantly in 2025

In 2025, Singapore's non-landed luxury residential market staged a distinct recovery. According to reports, both transaction volume and total sales value of high-end non-landed homes in the Core Central Region (CCR) priced at $5 million and above, with unit sizes of at least 2,000 sq ft, rose sharply.

A total of 294 such units were transacted throughout the year, up by approximately 41% from 208 units in 2024. Total sales value reached around $2.6 billion, surging nearly 56% year-on-year (YoY), underscoring the growing appetite of high-net-worth (HNW) and ultra-high-net-worth (UHNW) buyers for Singapore's prime luxury residential assets.

Sustained Inflow of UHNW Capital Anchored by Singapore's "Safe Haven" Appeal

This trend reflects how UHNW individuals continue to allocate capital into markets perceived as "safe havens" amid mounting geopolitical uncertainties and global risks, with Singapore standing out as a premier destination of choice.

Data from the Monetary Authority of Singapore (MAS) further substantiates this. In 2025, total Singapore dollar deposits in the banking system grew by approximately 8.9% YoY, indicating that capital inflows remain robust.

Luxury Transactions Concentrated in Prime Projects, New Launch Activity Picks Up Sharply

In terms of transaction volume, the most active luxury developments in 2025 included 21 Anderson, 32 Gilstead, and Upperhouse at Orchard Boulevard.

In the primary market, top-tier new launches commanded strong attention. In 2025, new luxury developer sales exceeded 50 units, more than double the tally from the previous year. This was largely driven by the roll-out of several high-profile developments, including Skywaters Residences, W Residences Marina View, 21 Anderson, and Upperhouse at Orchard Boulevard.

Widening Price Gap Between New and Resale Luxury Homes Unlocks Resale Value

Activity in prime luxury homes also saw a visible uptick. Research indicates that as interest rates gradually eased, some buyers shifted their focus to the resale luxury market due to a widening price disparity between new launches and resale properties.

According to data, new luxury units in prime locations spanning over 2,500 sq ft registered a median price of around $4,692 psf, whereas comparable resale luxury units recorded a median price of only around $2,130 psf—a price difference of more than double.

Several well-established, older developments in the prime district offer generous family-sized layouts, with quantum prices sometimes comparable to properties in non-core locations. This presents a compelling proposition for buyers seeking spacious living and long-term home-stay value.

Super-Luxury Transactions Hit Multi-Year High, Driven by Local Affluent Buyers

According to studies, 59 transactions of "super-luxury homes" priced at $10 million and above were recorded in 2025, marking the highest annual volume since 2022.

In Q4 alone, 14 super-luxury deals were closed, comprising six new launch units and eight resale homes. Singaporean buyers dominated this segment, followed by Permanent Residents (PRs) and foreign buyers.

The quarter's priciest deal was logged at 21 Anderson, where a freehold unit spanning approximately 4,489 sq ft changed hands for about $23.3 million, or roughly $5,191 psf.

Notable Projects Recording Highest Quantums and Per-Square-Foot Prices

Across full-year figures, 21 Anderson dominated the high-value transactions table, accumulating total sales of around $52.25 million with an average price close to $5,000 psf.

Meanwhile, Skywaters Residences also clocked a headline-grabbing transaction, where a unit of over 5,200 sq ft was sold for approximately $30.87 million, working out to around $5,841 psf.

As for the highest psf transacted in 2025, Park Nova took top honours with a unit fetching a staggering $6,593 psf, amounting to a total quantum of about $38.89 million.

Prime Rental Demand Strengthens in Tandem, Rentals Continue Upward Trend

The influx of UHNW individuals and expatriate families has similarly bolstered the luxury leasing market. Data reveals that over 2,500 prime non-landed residential units were leased in 2025, a YoY increase of roughly 7.4%.

Average monthly rents climbed to approximately $15,223, up by about 5.3% from 2024, reflecting resilient demand for top-end rentals.

Outlook for 2026: Growth May Moderate, but Prime Demand Persists

Looking ahead, the prime non-landed residential market is anticipated to remain well-supported by easing interest rates, Singapore's socio-political and economic stability, alongside sustained demand from local and regional HNW families.

However, against the backdrop of the 60% Additional Buyer's Stamp Duty (ABSD) on foreign purchasers and a tighter pipeline of prime new launches, price growth may moderate to between 1% and 3% in 2026.

The long-term transformation of the city centre into a vibrant "live-work-play" precinct will continue to underpin luxury housing demand, while new residential parcels in the Newton and Holland areas also warrant close watch.

Prime developments slated for launch in 2026 include River Modern, alongside new projects on Dunearn Road and Holland Link. In addition, Newport Residences, a rare freehold development in the CBD, made its debut earlier this year, moving 57% of units during its launch weekend at an average price of around $3,370 psf.