Developer sales drop to 325 units in November, down 87% m-o-m
Slated for launch in January, Coastal Cabana attracted more than 4,000 visitors to its sales gallery during the first weekend of previews. (Photo: Qingjian Realty)
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New private home sales dwindled in November, with data released by URA on Dec 15 showing a total of 325 units (excluding executive condos or ECs) sold by developers last month. This marks an 86.6% plunge from the 2,424 units sold in October, as well as an 87.3% decline y-o-y.
The fall is pursuant to a lower number of units launched. Only one project, the 347-unit The Sen by Sustained Land, was launched for sale in November. In comparison, October had four major project launches – Skye @Holland, Penrith, Faber Residence and Zyon Grand – that offered 2,233 units for sale.
Located along Jalan Jurong Kechil at Upper Bukit Timah in the Rest of Central Region (RCR), the 99-year leasehold The Sen shifted 77 units at a median price of $2,339 psf, accounting for nearly a quarter of total developers’ sales for November and making it the top-selling project for the month. Christine Sun, chief researcher & strategist of Realion (OrangeTee & ETC) Group, posits that buyers were likely drawn to The Sen’s strategic city fringe location, as well as amenities in the Bukit Timah and Beauty World area.
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Mark Yip, CEO of Huttons Asia, adds that the project appealed to buyers due to its palatable prices. He notes that the project had a “hard to beat” starting price of less than $1 million for a one-bedroom unit, while nearly 80% of units sold at The Sen were below the “sweet spot” price of $2.5 million.
Notwithstanding the quieter month, developers have now moved 10,624 units excluding ECs in the first 11 months of the year.
Source: PropNex Research, URA
This is only the third time that yearly new home sales have breached the 10,000-unit level since 2014, says Wong Siew Ying, head of research and content at PropNex. “It is a relatively rare milestone and it underscores just how resilient the demand has been this year, supported by a confluence of favourable factors such as easing interest rates, competitive pricing, and a slate of well-located launches,” she adds.
Taking into account November’s figure, Huttons’ Yip believes full-year sales could hit 11,000 units, which would make it the highest annual new private home sales figure since 2021, when 13,027 units were sold. Leonard Tay, head of research at Knight Frank Singapore, estimates a figure just under that threshold. “The number of primary transactions should end the year just under 11,000 units as new sale numbers in December are not likely to move the needle by much.”
RCR-drive sales
Apart from The Sen, the bulk of sales in November came from existing projects that are also in the RCR. The second best-selling project last month was Bloomsbury Residences. The 99-year leasehold condo on Media Circle in one-north moved 22 units at a $2,544 psf median price. The Continuum, the 816-unit freehold condo on Thiam Siew Avenue, also sold 22 units, at a median price of $2,567 psf.
Overall, the RCR accounted for 215 units, or 66.2% of all new private home sales this month, according to Mohan Sandrasegeran, head of research & data analytics at SRI. Other RCR projects that logged sales include Zyon Grand, One Marina Gardens, Grand Dunman and Penrith.
The Outside Central Region (OCR) saw 80 units sold by developers, or 24.6% of total sales. The biggest contributions came from Faber Residence and The Lakegarden Residences, with the projects shifting 13 units each at median prices of $2,162 psf and $2,226 psf.
Meanwhile, a total of 30 units, or 9.2%, were sold in the Core Central Region (CCR). Sales were led by River Green and The Robertson, which sold four units each at median prices of $3,339 psf and $3,492 psf. “Notably, River Green has sold about 92% of its 524 units since its launch in August 2025 – underscoring healthy buyer interest in that locale and likely bolstering confidence for the adjacent project (the 455-unit River Modern) slated for launch in 1Q2026,” comments Wong Siew Ying, head of research and content at PropNex.
In terms of ECs, sales stayed on par with last month, with 21 units sold, largely driven by Otto Place.
Muted December
With The Sen marking the last new private home launch for the year, market observers expect developers’ sales to stay muted in December, amid the festive season and school holidays. Huttons’ Yip estimates developers will move around 200 to 250 units next month from existing projects.
Going into 2026, he expects activity to pick up with new launches, including Coastal Cabana, the 748-unit EC on Jalan Loyang Besar in Pasir Ris. Slated for launch in January, the project attracted more than 4,000 visitors to its sales gallery during the first weekend of previews in early December.
Other potential launches in January include the 246-unit Newport Residences on Anson Road and the 540-unit Narra Residences in Dairy Farm Walk, notes PropNex’s Wong. “These projects will be part of a tighter pipeline of new launches in 2026, where some 20 projects (excluding EC) with around 8,400 units may be on tap, based on PropNex’s estimates.”
This is fewer than this year, which saw about 25 projects launched with 11,500 units. As such, Wong expects developers’ sales excluding ECs to decline to a range of 8,000 to 9,000 units for the whole of next year. Similarly, Knight Frank’s Tay forecasts new sales to come in between 8,000 and 10,000 units. “Moving into 2026, it is unlikely that there will be a repeat of developer sales above the 10,000-unit level,” he says.
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