Singapore New Home Sales Surge Nearly Threefold Amid Robust Buying Sentiment

Singapore New Private Home Sales Surge Nearly Threefold! Savills: Market Momentum Rebounds to Highs, Expected to Remain Resilient Through Year-End

Singapore's new private residential market experienced explosive growth in the third quarter of this year (3Q2025).

According to the latest research report released by Savills Singapore, new private home sales soared nearly threefold in 3Q2025 to 3,288 units, far surpassing the 1,212 units registered in the second quarter and marking an impressive year-on-year surge of 183.4%.

Surge in New Project Launches Drives Skyrocketing Take-Up

Savills highlighted that the primary catalyst behind the sales spike was the concentrated launch of new residential developments.

A total of nine brand-new private residential projects were launched in the third quarter, releasing 4,191 units onto the market—more than double the previous quarter's tally (just 1,520 units in 2Q2025).

This buying wave was led by the Outside Central Region (OCR), which accounted for 39.4% of total sales; followed by the Rest of Central Region (RCR) at 33.2%, while the Core Central Region (CCR) represented 27.5%.

These developments generally enjoy prime locations and well-conceived master planning, attracting both local owner-occupiers and investors targeting the expatriate tenant pool.

Offering a balance of everyday convenience and strong rental potential, these new launches have emerged as a "safe harbour" for buyers navigating an uncertain global economic landscape.

Resale Market Heats Up in Tandem

Beyond the vibrant primary market, the secondary market delivered an equally compelling performance.

Resale private home transactions expanded for the second consecutive quarter, inching up 5.1% quarter-on-quarter to 4,116 units—the sharpest quarterly gain logged since 2Q2024.

This growth was fuelled by multiple factors: an attractive low-interest rate environment, elevated HDB resale prices, rising prices of new launch units, and the comparatively larger floor plates and superior value proposition offered by resale condominiums.

Together, these dynamics have steered buyers back to the resale market, particularly family purchasers seeking more living space.

Local Buyers Lead the Charge as Foreign Demand Recovers

Examining the buyer profile for non-landed private residential homes (condominiums and apartments) in 3Q2025, purchases by Singapore Citizens posted the most prominent increase, jumping 52.9% quarter-on-quarter to 5,661 transactions. This represents the largest quarterly increase seen since the post-circuit breaker reopening wave in 3Q2020.

At the same time, transactions by Permanent Residents (PRs) grew 13.9% to 924 units, while foreign buyers recorded a 70.9% increase to 94 transactions.

Competitive interest rates paired with Singapore's economic stability have encouraged more overseas buyers to re-enter the market.

Nevertheless, foreign transaction volumes remain below the levels observed prior to the April 2023 ABSD revision.

Outlook for 2026: Sales Volumes May Normalise, but Prices Expected to Trend Upward

Looking ahead, market momentum is projected to hold firm through the end of 2025, though 2026 may see a gentle moderation.

Key contributing factors include: external macroeconomic uncertainties stemming from "Liberation Day Tariffs", as well as structural shifts in the employment market driven by rapid advancements in artificial intelligence.

Even if demand should moderate, ample liquidity in the system—underpinned by baby boomer savings and equity market gains—will continue to support price appreciation of around 3%. However, blockbuster launch weekends seeing 80% to 100% sell-out rates may prove harder to replicate next year.

The dramatic rebound in 3Q new private home sales underscores the underlying resilience and enduring confidence in Singapore's property market. Both owner-occupiers and long-term investors are repositioning themselves across this fresh launch cycle.

With a slate of new projects scheduled to debut before year-end, the Singapore residential sector looks poised to sustain its brisk pace. Moving into next year, however, both buyers and sellers will likely need to be more strategic and discerning in timing their market entry.