Huttons’ comments on Feb 2025 developers’ sales
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Launches and Sales
Developers’ sales in Feb 2025 topped Jan’s sales by 45.4% to reach 1,575 units. Feb 2025’s sales was more than 10 times the sales of 153 units clocked a year ago.
In the first two months of 2025, developers sold a total of 2,658 units. This is the highest sales for the first two months of the year since 2013.
The exceptional sales in Feb 2025 were due to 2 major launches – ELTA and PARKTOWN Residence.
1,694 units were launched for sale, 89.1% more than Jan 2025 and 37.6 times more than Feb 2024.
ELTA and PARKTOWN Residence attracted keen interest from more than 3,000 buyers, selling a total of 1,367 units in Feb 2025.
ELTA sold 326 units in Feb 2025, continuing the strong sales for projects along Clementi Ave 1. ELTA is the last parcel of land for condo development along Clementi Ave 1. Buyers recognised the limited supply and were eager to buy a unit in ELTA for potential capital appreciation.
PARKTOWN Residence sold 1,041 units in Feb 2025. No mega project has sold more than 1,000 units in its launch weekend since the launch of the 1,399-unit High Park Residences, which sold 1,100 units over three days in Jul 2015. It shows the popularity of fully integrated developments and buyers’ trust in the Tampines 5-year masterplan for 2025 to 2030.
These two major launches made up 86.8% of total sales in Feb 2025.
Purchases by Market Segments and Price Range
Due to the launch of two major projects in the OCR, sales in the OCR made up 92.2% of total sales in Feb 2025
The RCR proportion was 6.2% while the CCR accounted for 1.6%.
Top Projects by Sales in Feb 2025
Project Name
Region
Units Sold in the Month
Median Price ($psf)
Lowest Price ($psf)
Highest Price ($psf)
PARKTOWN RESIDENCE
OCR
1041
2,363
2,146
2,589
ELTA
OCR
326
2,538
2,200
2,881
PINETREE HILL
RCR
22
2,613
2,140
2,715
HILLOCK GREEN
OCR
18
2,098
1,924
2,479
NAVA GROVE
RCR
18
2,574
2,372
2,696
HILLHAVEN
OCR
13
2,216
1,966
2,376
THE CONTINUUM
RCR
10
2,906
2,748
2,996
KASSIA
OCR
9
2,065
1,907
2,147
TERRA HILL
RCR
8
2,574
2,305
2,766
BAGNALL HAUS
OCR
7
2,469
2,358
2,632
GRAND DUNMAN
RCR
7
2,541
2,283
2,601
THE ORIE
RCR
7
2,669
2,516
2,923
MEYER BLUE
RCR
6
3,243
3,033
3,443
SCENECA RESIDENCE
OCR
6
2,050
1,970
2,089
Source: URA, Huttons Data Analytics as of 17 Mar 2025
Singaporeans made up 92.4% of buyers in Feb 2025 while PRs accounted for 6.9%.
The top two transactions by quantum were at 32 Gilstead which were bought by foreigners.
Purchases by Residential Status and Price Range in Feb 2025
<$1.5 million
$1.5 to <$2 million
$2 to <$2.5 million
$2.5 to <$5 million
$5 to <$10 million
$10 million and above
Total
Singaporeans
245
562
319
323
6
2
1,457
Permanent Residents
26
38
11
29
3
1
108
Foreigners
–
2
1
4
2
2
11
Companies
0
0
Total
271
602
331
356
11
5
1,576
Source: URA, Huttons Data Analytics as of 17 Mar 2025
Singaporeans made up 92.4% of buyers in Feb 2025 while PRs accounted for 6.9%.
The top two transactions by quantum were at 32 Gilstead which were bought by foreigners.
Purchases by Residential Status and Price Range in Feb 2025
<$1.5 million
$1.5 to <$2 million
$2 to <$2.5 million
$2.5 to <$5 million
$5 to <$10 million
$10 million and above
Total
Singaporeans
245
562
319
323
6
2
1,457
Permanent Residents
26
38
11
29
3
1
108
Foreigners
–
2
1
4
2
2
11
Companies
0
0
Total
271
602
331
356
11
5
1,576
Source: URA, Huttons Data Analytics as of 17 Mar 2025
Purchases by Foreigners
There were 11 purchases by foreigners in Feb 2025 out of which 6 bought properties in the CCR. Another 3 bought in the RCR and 2 foreigners acquired properties in the OCR.
Proportion of Purchase by Foreigners
Source: URA, Huttons Data Analytics as of 17 Mar 2025
Executive Condominiums
29 EC units were sold in Feb 2025 with Novo Place leading the pack with 17 sales.
The median prices of ECs sold in Feb 2025 ranged from $1,324 to $1,676 psf.
The widening gap in prices of new OCR private homes and new ECs means that the value proposition of ECs is even stronger. The prices of resale EC or mass market condo can be higher than a new EC. Thus, new EC will continue to draw demand.
Outlook
There are 3 launches in Mar 2025 – Aurea, Aurelle of Tampines (EC) and Lentor Central Residences.
In total, developers have sold an estimated 1,150 units from these three launches. Excluding EC, 468 units were sold.
Aurea, an iconic integrated mixed-use development along Nicoll Highway, sold 23 units on launch weekend which is similar to past launches in the CCR.
Aurelle of Tampines (EC) sold 682 units or close to 90% of its units, supported by strong demand from first timers and HDB upgraders.
Lentor Central Residences sold 445 units of 93.3% of its units, making it the best-selling private residential project by percentage terms in 2025 to date.
Huttons Data Analytics estimate developer’s sales excluding ECs in 1Q 2025 to exceed 3,200 units. This is close to 4Q 2024’s 3,420 units and is the highest 1Q sales since 2021.
The strong demand in the past few months is supported by fundamentals such as a sharp rise in wealth and cuts in interest rate.
5 projects – 21 Anderson, Arina East Residences, Bloomsbury Residences, One Marina Gardens and W Residences Singapore – Marina View are expected to book sales in Apr 2025.
Developers are estimated to sell between 7,500 and 8,500 units in 2025.
Barring unforeseen circumstances, prices in the property market are estimated to grow between 4% and 7% in 2025.
Upcoming Projects in 2Q to 4Q 2025
No.
Project Name
Developer
Location
District
Tenure
Est Units
Est Launch Period
1
21 Anderson
Anderson International Properties Pte Ltd/Raffles Legend Properties Pte Ltd
Anderson Road
10
FH
18
Mar/Apr 2025
2
Bloomsbury Residences
Qingjian Realty and Forsea Residence
Media Circle
5
99
358
Mar/Apr 2025
3
One Marina Gardens
Kingsford Huray Development, Obsidian Development and Polarix Cultural & Science Park Investment
Marina Gardens Lane
TBC
99
937
Mar/Apr 2025
4
Arina East Residences
ZACD Group
Tanjong Rhu Road
15
FH
107
Apr 2025
5
W Residences Singapore – Marina View
IOI Properties
Marina View
1
99
683
Apr 2025
6
Upperhouse @ Orchard Boulevard
UOL Group and Singapore Land Group
Orchard Boulevard
9
99
301
May 2025
7
Artisan 8
Apex Asia Development
Sin Ming Road
20
FH
34
May/Jun 2025
8
Lyndenwoods
CapitaLand Development Singapore
Science Park Drive
5
99
345
2Q 2025
9
Upper Thomson Road (Parcel B)
GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd.
Upper Thomson Road
26
99
941
2Q 2025
10
Zion Road (Parcel A)
CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd.
Zion Road
3
99
706
2Q 2025
11
Otto Place (EC)
Hoi Hup Realty and Sunway Developments
Plantation Close
24
99
600
Jun/Jul 2025
12
The Roberston Opus
River Valley Tower Pte Ltd
Robertson Walk
9
999
348
Jul 2025
13
Canberra Crescent
Peak Nature Pte Ltd and Huatland Development Pte. Ltd.
Canberra Crescent
27
99
376
3Q 2025
14
The Sen
SL Capital (8) Pte Ltd
De Souza Avenue
21
99
347
3Q 2025
15
Holland Drive
Holly Development Pte. Ltd.
Holland Drive
10
99
666
3Q 2025
16
RiverGreen
Winchamp Investment Pte. Ltd.
River Valley Green
9
99
525
3Q 2025
17
Margaret Drive
Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd.
Margaret Drive
3
99
462
4Q 2025
18
Zion Road (Parcel B)
Valerian Residential Pte. Ltd.
Zion Road
3
99
610
4Q 2025
Total
8,364
* in alphabetical order followed by chronological order
Source: URA, Huttons Data Analytics as of 17 Mar 2025