Huttons comments on Jun 2025 developers’ sales

Launches and Sales
Developers launched 2 projects for sale in Jun 2025. This is the first time since 2023 that projects were launched during the Jun school holidays.

Amber House, the first project in the Amber area since 2019 and Arina East Residences, the first project in Tanjong Rhu in 12 years were launched for sale in Jun 2025.

In total, 187 units were launched, 835% higher than May 2025 and 58.5% higher than a year ago.

Developers sold 272 units in Jun 2025, 12.8% lower month-on-month but 19.3% higher than Jun 2024.

Huttons Data Analytics estimate developer’s sales excluding ECs in 2Q 2025 at 1,259 units. For 1H 2025, an estimated 4,634 units were sold. This is about 58% of Huttons estimates for the full year.

Purchases by Market Segments and Price Range
Bloomsbury Residences and One Marina Gardens remained the top 2 selling projects for the third month.

Investors snapped up 26 units of 1-bedroom in One Marina Gardens which were priced attractively at around $1.25 million while Bloomsbury Residences, another attractively priced city fringe project sold 30 units.

The RCR made up almost 70% of sales in Jun 2025 while the OCR accounted for around 1/4 of sales.

Top Projects by Sales in Jun 2025

Source: URA, Huttons Data Analytics as of 15 Jul 2025

Singaporeans made up 85.3% of buyers in Jun 2025 while PRs accounted for 13.2%.

There were 3 sales of non-landed units priced above $10 million in 2Q 2025.

The $30.87 million 5-bedroom unit in Skywaters Residences was bought by a PR. One of the $15 million unit in 32 Gilstead was purchased by a China PR while the nationality of the purchaser who bought the other $15 million unit in 32 Gilstead was unspecified. The $12 million unit in Aurea was acquired by a Singaporean.

Purchases by Residential Status and Price Range in Jun 2025

Source: URA, Huttons Data Analytics as of 15 Jul 2025

Purchases by Foreigners
There were 4 purchases by foreigners in Jun 2025, lower than a month ago.

The proportion of purchases by foreigners fell to 1.2% in 1H 2025, down steeply from 5% in 2023 when the 60% ABSD was introduced.

Proportion of Purchase by Foreigners

Source: URA, Huttons Data Analytics as of 15 Jul 2025

Executive Condominiums
33 EC units were sold in Jun 2025 and less than 20 EC units remained unsold in the market.

With no confirmed EC supply in the West in 2026, the upcoming EC project, Otto Place should see strong interest from eligible buyers.

Outlook
Judging from the participation and bids for GLS sites in recent months, developers appeared to be more confident in the market.

In 2025, the lunar seventh month will start from 23 Aug and end on 21 Sep.

The months of Jul and Aug 2025 thus offer a window of opportunity for project launches.

The competition for buyers among the upcoming launches and the need to sell out before the ABSD deadline will create an urgency to launch as soon as possible. Developers are competing for the first mover advantage to launch and sell ahead.

10 projects including an EC are slated for launch during these two months.

These include Artisan 8, Canberra Crescent Residences, LyndenWoods, Otto Place (EC), Promenade Peak, River Green, Springleaf Residence, The Roberston Opus, UPPERHOUSE at Orchard Boulevard and W Residences Marina View – Singapore.

The first project in Singapore Science Park, LyndenWoods sold 324 units or 94.5% of total units on launch weekend.

The exceptional sales showed that buyers were not concerned about the increase in holding period for the SSD as the strong household balance sheet support investment in a long-term asset.

Many of the units sold fall within the sweet spot price of up to $2.5 million which most Singaporeans can accept.

Sales in Jul 2025 are likely to be in the range of 600 to 700 units.

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 2H 2025

* in alphabetical order followed by chronological order
Source: URA, Huttons Data Analytics as of 15 Jul 2025

Upcoming Projects in 2026

* in alphabetical order followed by chronological order
Source: URA, Huttons Data Analytics as of 15 Jul 2025