1Q 2025 URA Real Estate Statistics: Singapore’s Private Home Prices Rose on the Back of Strong New Home Demand

SINGAPORE, 25 April 2025—According to the Urban Redevelopment Authority (URA)’s report for 1Q 2025, private home prices rose 0.8% quarter-on-quarter (q-o-q), continuing the 2.3% q-o-q increase observed in 4Q 2024. The price growth was largely driven by recent new home launches, several of which have achieved benchmark pricing.

In 1Q 2025, developers launched 3,139 new homes (excl. EC) for sale, down from the 3,425 units in 4Q 2024. Developers sold 3,375 new homes (excl. EC) in 1Q 2024, compared to 3,420 units in 4Q 2024.

Resale transactions inched down 3.7% q-o-q to 3,565 units in 1Q 2025, while sub-sale transactions rose 3.2% to 321 units.

In tandem, the total transaction volume of private homes also fell marginally to 7,261 units in 1Q 2025, marking a 2.3% decline from the 7,433 units recorded for 4Q 2024.

A total of 1,988 private homes were completed in 1Q 2025, and another 3,816 units are slated for completion in the next nine months. This will bring the total number of private home completions to 5,920 units in 2025, down from 8,433 units in 2024.

ERA’s comments

“Residential transactions in Q1 2025 were supported by steady primary home sales since Q4 2024. Strong take-up at new home launches such as The Orie, Parktown Residences, Elta, and Lentor Central Residences bolstered residential transactions in this period.”

Buyers were drawn to these projects for their attractive locational attributes, with some projects further benefiting from a lack of recent new launches in the vicinity. While we saw benchmark pricing achieved at some of these new launches, the overall price increase for new private homes was less pronounced compared to the last quarter,” said Marcus Chu, CEO, ERA Singapore.

“In parallel, resale transactions fell for the third consecutive quarter amid competition from new home launches, and new home completions are expected to decline further in 2025. Buyers have redirected their attention to the new home market, with new project launches since late 2024. Since late 2024, we have observed the new home market’s share of total transactions increasing, standing at 27.5% in 1Q 2024 before rising to 46.5% in 1Q 2025.”

“Following this increase in new home sales, we have also seen the resale market’s share of total transactions levelling out. In 1Q 2024, resale deals made up 63.6% of all quarterly transactions, but this figure has shrunk to 49.1% as of 1Q 2025.”

“EC sales surged in 1Q 2025, driven by Aurelle of Tampines’ near sell-out launch, and went on to be fully sold when the project opened for second-timer booking in April. Many first-timers were drawn to EC because of its attractive pricing.”

“Following Aurelle of Tampines’s strong performance, the current supply of new EC homes has become very limited. As of 25 April 2025, fewer than 50 units are available islandwide. Anticipation is building for the upcoming EC projects at Plantation Close (Otto Place) and Jalan Loyang Besar.”

“Demand for high-end landed homes grew in 1Q 2025, with URA caveats showing a 21.6% q-o-q uptick in transactions for landed properties valued at $10 million and above. In contrast, the $5 million to $10 million segment experienced a 0.8% contraction in sales volume, while the sub-$5 million segment witnessed an even more pronounced 17.6% q-o-q decrease in transactions.”

“Globally, trade tensions have escalated, triggering market volatility that may momentarily dampen sentiment and weigh on the local real estate sector. However, it is too early to tell the deeper impact on the real estate market. Singapore’s property market is expected to remain resilient, supported by domestic buyers with a mid-to-long-term outlook, which keeps activity rooted in genuine demand rather than speculation.”

“Furthermore, between April and December, we can expect up to 15 new home launches and two EC launches, potentially yielding around 7,800 new homes. Building on the ongoing momentum in new home sales, and barring any unforeseen circumstances, ERA Singapore projects that 8,500 to 9,500 new homes will be sold for the whole of 2025. Sub-sale and resale transactions are also expected to reach between 1,100 and 1,300 units and between 14,000 and 15,000 units by the end of 2025.”

For media enquiries, please contact:

Ning Peh, Senior Marketing Communications Manager, ERA Singapore

Email: [email protected]

Kaixin Yue, PR Manager, ERA Singapore

Email: [email protected]

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