April 2025 Monthly Developer Sales: Commentary by ERA

SINGAPORE, 15 May 2025 – URA has released the April 2025 Developer Sales report.

New home sales for April 2025 totalled 663 new private homes (excluding Executive Condominiums, or ECS), stemming from the launch of three projects in the month: One Marina Gardens (937 units in total), Bloomsbury Residences (358 units in total), and 21 Anderson (18 units in total). This marks a 9.1% decline m-o-m and a 120.3% increase y-o-y in the number of new private homes (excluding ECs) sold in a month. In all, developers launched 1,344 new private homes in April 2025.

“Compared to the strong project launches in 1Q 2025, April’s sales launches fell short of expectations, reflecting a more subdued market response amid escalating trade tensions that weighed on consumer confidence. However, objectively, the sales performance at the three launches was respectable, especially considering that One Marina Gardens and Bloomsbury Residences are situated in precincts that primarily attract investor interest rather than owner-occupiers. Meanwhile, 21 Anderson catered to high-net-worth individuals seeking freehold, large-format units, which is a rare find in today’s market.” said Marcus Chu, CEO of ERA Singapore.

In a turn of events, the US and China have begun engaging in a series of trade talks in Geneva, resulting in a joint agreement to roll back tariffs for 90 days as both sides continue negotiations aimed at mitigating ongoing trade tensions.  While this outcome falls short of a definitive resolution and uncertainties still loom, it offers a glimmer of hope for de-escalation, suggesting that both nations may be steering away from a full-blown fallout. This could instil confidence in buyers to return to the market.”

Amidst this ongoing global uncertainty, Singapore’s property market remained grounded in stable fundamentals that anchor real estate activity in genuine housing needs rather than speculative motivations.

“Singapore’s property market has continued to show resilience, supported by the mid-to-long-term outlook held by most domestic buyers. This remains a significant factor in keeping local buying activity grounded in actual housing needs, as opposed to speculative demand.”

“The first four months have sold a total of 4,038 new private homes (excluding ECs). Building on this ongoing momentum in new home sales, and barring any unforeseen circumstances, ERA Singapore projects 8,500 to 9,500 new homes to be sold for the whole of 2025.”

One Marina Gardens

“Though seemingly modest, One Marina Gardens’ take-up rate of 38% or 353 units on launch day is encouraging. This is the case as its 937-unit count significantly surpasses other recent launches within and around the downtown core, where projects rarely exceed 600 units.”

“Most of the units sold at One Marina Gardens were one- and two-bedders, which highlights investor-driven demand. In-house data as of 13 May 2025 also shows that these units made up about 84% of new home sales at One Marina Gardens since launch, including May transactions.”

“URA caveat data as of 13 May 2025 shows that one-bedroom units at One Marina Gardens transacted for $1.2 million and upwards in April. This represents a competitive entry price for first-time upgraders eyeing a new RCR private home near the CBD.”

Bloomsbury Residences

“Being the first private residential project within the new Media Circle precinct, Bloomsbury Residences saw 25.1% of its total inventory sold on launch day, with 90 of its 358 units bought.”

“Two-bedroom units primarily fueled sales at Bloomsbury Residences. Based on internal sales data as of 13 May 2025, two-bedders account for approximately 75% of all new units sold in the project since launch, including transactions completed in May thus far.”

“Buyers were likely to have been drawn in by a mix of factors – including the opportunity to be first mover advantage into the Media Circle precinct, as well as one-north’s long-term potential as a multi-sector business hub in the city fringe.”

“Similarly, expat families desiring to live in the one-north area likely found Bloomsbury Residences’ popular two-bedroom units appealing. Beyond meeting the spatial needs of a typical household of three, such units are also situated in a location near schools, offices, and retail amenities.”

Luxury Home Market and 21 Anderson

“April recorded a total of seven luxury home transactions taking place at $5 million and above. Among them, the three priciest transactions were made by one Singaporean and two Singapore Permanent Residents (SPR), all involving freehold units at 21 Anderson.”

“Quantum prices for these three transactions were between $20.9 million to $23.0 million, all of which involved four-bedders measuring 4,489 sq ft.”

“Buyers seeking high-end properties were likely drawn to 21 Anderson due to its coveted address within one of Singapore’s most prestigious districts. Additionally, the freehold status, large floor plates, and exclusivity of 21 Anderson’s units likely proved appealing for those seeking legacy planning assets.”

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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