Launches and Sales
Developers sold 663 units in Apr 2025, 9.1% lower month-on-month but more than double the sales a year ago.
The shock therapy from the global tariffs generated tensions and uncertainties. This led to a temporary hiatus in the sales momentum.
1,344 units were launched for sale in Apr 2025, 142.2% higher than Mar 2025 and 383.5% higher than Apr 2024.
Three projects – 21 Anderson, Bloomsbury Residences and One Marina Gardens were launched for sale in Apr 2025.
21 Anderson, an ultra-luxury residential non-landed project located along one of Singapore’s most prestigious enclaves sold three units in Apr 2025 for more than $60 million in total. One of the units achieved a selling price of $5,127 psf. Being able to achieve these prices is a reflection of the confidence the UHNWIs have in Singapore’s ultra-luxury homes and Singapore’s status as a safe haven in times of instability.
Bloomsbury Residences, located in the Queenstown Planning Area sold 107 units. Buyers were attracted to the lush greenery and unblocked views over the colonial bungalows in Wessex estate. Being the first plot in Mediapolis, buyers see the opportunity to gain a first mover advantage and reap the future benefits when this area is fully developed.
One Marina Gardens, the first project in Marina South opposite Gardens By The Bay sold 384 units. Investors and owner-occupiers were keen to buy a unit in this new housing area planned by URA. The most popular unit types were the 1-bedroom. The 2+S bedroom, 3-bedroom and 4-bedroom units facing Gardens By The Bay were also popular among buyers.
Huttons Data Analytics estimate developer’s sales excluding ECs in the first 4 months of 2025 at 4,038 units. This is about 50% of Huttons’ estimates for the full year.
These two major launches made up almost 3/4 of total sales in Apr 2025.
Purchases by Market Segments and Price Range
The RCR made up more than 80% of sales in Apr 2025 due to the launch of Bloomsbury Residences and One Marina Gardens.
Top Projects by Sales in Apr 2025
| Project Name | Region | Units Sold in the Month | Median Price ($psf) | Lowest Price ($psf) | Highest Price ($psf) |
|---|---|---|---|---|---|
| ONE MARINA GARDENS | RCR | 384 | 2,948 | 2,720 | 3,132 |
| BLOOMSBURY RESIDENCES | RCR | 107 | 2,454 | 2,348 | 2,700 |
| PARKTOWN RESIDENCE | OCR | 17 | 2,368 | 2,218 | 2,544 |
| GRAND DUNMAN | RCR | 14 | 2,599 | 2,192 | 2,719 |
| LENTOR MANSION | OCR | 12 | 2,183 | 2,152 | 2,266 |
| LENTOR CENTRAL RESIDENCES | OCR | 11 | 2,384 | 2,141 | 2,497 |
| THE CONTINUUM | RCR | 11 | 2,900 | 2,774 | 3,028 |
| PINETREE HILL | RCR | 9 | 2,654 | 2,478 | 2,724 |
| THE LAKEGARDEN RESIDENCES | OCR | 8 | 2,152 | 2,036 | 2,494 |
| LENTORIA | OCR | 7 | 2,273 | 2,109 | 2,470 |
Source: URA, Huttons Data Analytics as of 15 May 2025
Singaporeans made up 85.5% of buyers in Apr 2025 while PRs accounted for 12.0%.
In terms of price range, units priced below $1.5 million are highly sought after. More than 30% of the transactions in Apr 2025 are under $1.5 million.
Among these 206 transactions below $1.5 million, One Marina Gardens accounted for 174 units. Buyers were keen to invest in these 1-bedroom units which can potentially offer more than 4% gross rental yields based on current achieved rents in the vicinity.
For the $10 million and above transactions, 1 PR bought a unit in 32 Gilstead for $15 million while 1 Singaporean and 2 PRs bought 3 units in total in 21 Anderson.
Purchases by Residential Status and Price Range in Apr 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 | 174 | 122 | 134 | 135 | 2 | 1 | 568 |
| Permanent Residents | 29 | 14 | 14 | 20 | 0 | 3 | 80 |
| Foreigners | 3 | 2 | 4 | 6 | 1 | 0 | 16 |
| Companies | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 206 | 138 | 152 | 161 | 3 | 4 | 664 |
Source: URA, Huttons Data Analytics as of 15 May 2025
Purchases by Foreigners
The number of purchases by foreigners in Apr 2025 doubled to 16 from 8 in the previous month.
The Central Area launch, One Marina Gardens may be a key reason as the Central Area tends to see more interest from foreigners, selling 10 units in Apr 2025. The uncertainty brought about by the tariffs may be another contributing factor as some buyers seek a safe haven like Singapore.
Proportion of Purchase by Foreigners
Source: URA, Huttons Data Analytics as of 15 May 2025
Executive Condominiums
96 EC units were sold in Apr 2025.
Aurelle of Tampines is fully sold after 1 month of sales, making it the second EC project to sell out during the second balloting after Copen Grand in Nov 2022. It is the second EC to be next to a fully integrated mixed-use development and offers residents unparalleled convenience at a very attractive price.
Outlook
There may be two launches in May 2025 – Arina East Residences and W Residences Marina View – Singapore.
Sales in May 2025 are likely to be lower than Apr 2025 due to the absence of sizeable launches.
The trade deal between the US and UK and a 90-day reduction in tariffs between the US and China gives rise to optimism.
Based on historical data, the Singapore property market has appreciated by 46.5% since the US first introduced tariffs in 1Q 2018.
Compared to the S&P500, the Singapore property market is more stable. Some investors may opt for stability in times of uncertainty.
In the coming months, an estimated 17 projects including an EC may be launched for sale.
Developers are estimated to sell between 7,500 and 8,500 units in 2025.
Prices on the other hand are forecasted to grow between 4% and 7% in 2025.
Upcoming Projects in 2Q to 4Q 2025
| # | Project Name | Developer | Location | District | Tenure | Est Units | Est Launch Period |
|---|---|---|---|---|---|---|---|
| 1 | Arina East Residences | ZACD Group | Tanjong Rhu Road | 15 | FH | 107 | May/Jun 2025 |
| 2 | W Residences Marina View – Singapore | IOI Properties | Marina View | 1 | 99 | 683 | May/Jun 2025 |
| 3 | Artisan 8 | Apex Asia Development | Sin Ming Road | 20 | FH | 34 | Jun 2025 |
| 4 | Lyndenwoods | CapitaLand Development Singapore | Science Park Drive | 5 | 99 | 343 | Jun 2025 |
| 5 | Otto Place (EC) | Hoi Hup Realty and Sunway Developments | Plantation Close | 24 | 99 | 600 | Jun/Jul 2025 |
| 6 | Upperhouse @ Orchard Boulevard | UOL Group and Singapore Land Group | Orchard Boulevard | 9 | 99 | 301 | Jun/Jul 2025 |
| 7 | Promenade Peak | Valerian Residential Pte. Ltd. | Zion Road | 3 | 99 | 596 | Jul 2025 |
| 8 | The Roberston Opus | River Valley Tower Pte Ltd | Robertson Walk | 9 | 999 | 348 | Jul 2025 |
| 9 | Holland Drive | Holly Development Pte. Ltd. | Holland Drive | 10 | 99 | 666 | Aug 2025 |
| 10 | River Green | Winchamp Investment Pte. Ltd. | River Valley Green | 9 | 99 | 525 | Aug 2025 |
| 11 | The Sen | SL Capital (8) Pte Ltd | De Souza Avenue | 21 | 99 | 347 | Aug 2025 |
| 12 | Springleaf Residence | GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. | Upper Thomson Road | 26 | 99 | 941 | Aug/Sep 2025 |
| 13 | Canberra Crescent | Peak Nature Pte Ltd and Huatland Development Pte. Ltd. | Canberra Crescent | 27 | 99 | 376 | 3Q 2025 |
| 14 | Sophia Road | Sin Thai Hin Development | Sophia Road | 9 | 103 | 30 | 3Q 2025 |
| 15 | Penrith | Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. | Margaret Drive | 3 | 99 | 462 | Oct 2025 |
| 16 | Zion Road (Parcel A) | CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd. | Zion Road | 3 | 99 | 706 | Oct 2025 |
| 17 | Faber Residence | GuocoLand (Singapore) Pte. Ltd., TID Residential Pte. Ltd. and Intrepid Investments Pte. Ltd. | Faber Walk | 5 | 99 | 399 | 4Q 2025 |
| Total | 7,464 | ||||||
* in alphabetical order followed by chronological order
Source: URA, Huttons Data Analytics as of 15 May 2025
