Based on total units sold, the best-performing new project in 3Q2025 was Springleaf Residence. The 941-unit development in the OCR sold 881 units at a median price of $2,166 psf.
The price of private residential properties saw a moderate quarterly gain of 0.9% in 3Q2025, nearly matching the 1.0% q-o-q increase recorded in 2Q2025, according to the latest housing statistics from URA.
The landed property segment recorded a price increase of 1.4% q-o-q in 3Q2025, dipping from the previous quarterly gain of 2.2% in 2Q2025. Meanwhile, prices of non-landed private properties edged up by 0.8% q-o-q in 3Q2025, compared to the 0.7% q-o-q increase recorded in 2Q2025.
“Homebuyers came out in full force in 3Q2025, driven by lower interest rates, more sanguine economic sentiment despite lingering uncertain macroeconomic outlook,” says Marcus Chu, CEO, ERA Singapore.
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The steady price movement occurred as developers significantly ramped up the number of new project launches with 4,191 units across nine private residential projects entering the market in 3Q2025, a launch pipeline last seen more than a decade ago in 2Q2013.
The nine new projects pushed out were Artisan 8, Canberra Crescent Residences, LyndenWoods, Promenade Peak, River Green, Springleaf Residence, The Robertson Opus, Upperhouse at Orchard Boulevard, and W Residences Marina View – Singapore.
As a result of the strong launch pipeline, new sales in the private residential market jumped 171.3% q-o-q to 3,288 units sold in 3Q2025.
Mark Yip, CEO of Huttons Asia, says buyers were drawn in by attractive new launch prices, which narrowed the gap with resale prices. Research from Huttons Asia indicates that, in terms of absolute price, the average price of a new non-landed property was $2.3 million in 3Q2025. Thus, the gap between a new non-landed property and a resale non-landed property was 18.8% in 3Q2025, compared to 25.2% in 2Q2025.
Based on total units sold, the best-performing new project in 3Q2025 was Springleaf Residence, a 941-unit development in the Outside Central Region (OCR) jointly developed by GuocoLand and Hong Leong.
The project launched over the weekend of Aug 15-16, moving 870 units (92%) at an average price of $2,175 psf. A further 11 units have been sold since, bringing the total to 881 units and setting a median price of $2,166 psf.
Read also: HDB resale price growth slows to 0.4% in 3Q2025 amid easing resale transactions
The next-best-performing project was River Green, a 524-unit development in the Core Central Region (CCR) developed by Wing Tai. The project launched on Aug 2-3 and buyers snapped up 460 units (88%) at an average price of $3,130 psf. By the end of August, the project sold 465 units at a median price of $3,111 psf.
River Green is a 99-year leasehold development by Wing Tai Holdings. (Picture: Samuel Isaac Chua/EdgeProp Singapore)
New projects in the CCR accounted for 1,856 units (44%) of the new supply launched last quarter. This is the highest number of new units launched for sale in the CCR since 1Q2010.
Other CCR projects that were launched in 3Q2025 were Upperhouse at Orchard Boulevard, which sold 202 units at a median price of $3,277 psf, and The Robertson Opus, which moved 171 units at a median price of $3,359 psf.
These new projects in the CCR contributed to the region pulling ahead of the other two regions, posting a 1.7% quarterly price increase, though it was a more moderate increase than the 3.0% q-o-q increase in 2Q2025.
“Price growth in the CCR has essentially lagged behind the entire private home market, which has risen by some 40% since the pandemic. With a narrowing price gap between the prime locations versus the rest of the island, value opportunities could emerge for the observant homebuyer,” says Leonard Tay, head of research at Knight Frank Singapore.
Meanwhile, the OCR saw a 0.8% quarterly price increase in 3Q2025, moderating from the 1.1% q-o-q increase recorded in 2Q2025. The Rest of Central Region (RCR) inched up by 0.3% q-o-q in 3Q2025 after slipping 1.1% q-o-q in 2Q2025.
Read also: Wee Hur Holdings leads five-way tussle for Upper Thomson GLS site with bid of $1,062 psf ppr
Resale transactions were also up in 3Q2025, with 3,881 units changing hands, an increase of 6.4% q-o-q from the 3,647 units sold in 2Q2025. In all, resale transactions accounted for 52.4% of all sales transactions last quarter.
The proportion of sub-sale transactions in the market fell to 3.2% of all sale transactions, with 235 of these deals on record, compared to the 269 sub-sale transactions that accounted for 5.2% of all sale transactions in 2Q2025.
The government introduced new property cooling measures on July 4, aimed at further discouraging speculative activity in the property market by increasing the Seller’s Stamp Duty (SSD) holding period and raising SSD rates by 4% for each tier of the holding period.
Singapore’s residential market remains resilient despite global uncertainty, supported by low unemployment and healthy household balance sheets, says Tay. He adds that strong domestic savings provide households with financial flexibility, sustaining housing demand even as global economic and geopolitical pressures persist.
Looking ahead, the year will close with two more launch-ready projects, The Sen and Zyon Grand. The executive condo Coastal Cabana in Pasir Ris is expected to open its sales gallery to the public in December.
Christine Sun, chief researcher and strategist of Realion (OrangeTee & ETC) Group, also expects demand for new homes to persist into the final quarter of this year. “Developers are likely to expedite their launches to ride on the current wave of positive sales momentum,” she says, and points to the high take-up rates at the launch of Skye at Holland and Penrith earlier this month.
The 666-unit Skye at Holland is jointly developed by UOL Group, Singapore Land Group, CapitaLand and Kheng Leong Co. The project saw a near sellout launch on Oct 11, moving 658 units (99%) and setting an average price of $2,953 pf.
At 40-storeys, Skye at Holland is the tallest structure at Holland Village, and is raised about 20m above street level (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Penrith launched for sale shortly after on Oct 18, and the 462-unit development moved 447 units (97%) with average prices above $2,800 psf. The project is jointly developed by Hong Leong Holdings, Hong Realty (a part of the Hong Leong Group), and GuocoLand.
A more favourable borrowing environment may also contribute to the positive sentiment in the new launch market, says Sun, after the US Federal Reserve lowered interest rates by a quarter point in September and forecasts suggest that there could be another one or two more rate cuts before the end of 2025. “With mortgage rates falling further, housing affordability and investor confidence are likely to improve, supporting continued buying activity,” she says.
Strong sales in the new launch market have added urgency for some developers to replenish their land bank, and there has been an increase in the number of bidders participating in recent government land sale (GLS) tenders, says Yip. He adds that the stiff competition for development land is putting upward pressure on land prices.
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