June 2025 Monthly Developer Sales: Commentary by ERA

SINGAPORE, 15 July 2025 – URA has released the June 2025 Developer Sales report. For June 2025, developer sales totalled 272 new private homes (excluding ECs), reflecting a 12.8% month-on-month (m-o-m) decline. Sales were muted as most developers held back new launches during the June school holidays, when many prospective buyers were overseas.”

Similarly, the Executive Condominium (EC) market experienced subdued sales, with only 33 units sold in June. Although this represents a 37.5% month-on-month increase, the significant rise follows May’s low of just 24 EC transactions.

“New sale transactions declined more sharply in June, amid only two smaller-scale launches. Both Arina East Residences and Amber House are freehold developments that appeal to buyers seeking properties for legacy planning,” said Marcus Chu, CEO, ERA Singapore.

“RCR developments accounted for most of June’s top-performing projects. This was mainly due to the depletion of new home stock in the OCR, which prompted buyers to focus on available RCR supply.

We observe that popular OCR projects launched earlier this year, such as Parktown Residence (1,193 units) and Lentor Central Residences (477 units), are nearing full sale. As of early July, both projects have take-up rates of 90.6% and 99.8%, respectively.

Looking ahead, we note that July is poised to reverse the slowdown in new home sales of the past two months. As it stands, Lyndenwoods has already achieved an exceptional 94.5% take up rate at launch. This strong showing signals both resilient demand and represents a significant boost for July’s sales.

Furthermore, Lyndenwoods was the first project to launch following the announcement of July’s Seller’s Stamp Duty cooling measures, which saw a revision to higher tax rates and an extended holding period. Its strong debut reflects resilient buyer appetite and could signal positive momentum for upcoming launches.

Likewise, the start of bookings for The Robertson Opus and UPPERHOUSE at Orchard Boulevard in July will also contribute to monthly new home sales.

The next half of the year might see 15 private residential and 1 EC launches, bringing approximately 7,332 new homes to market. This pipeline expansion is expected to generate momentum in new home sales as more options become available to buyers in coming months.

Accounting for June’s sales, the total volume of new private homes (excluding ECs) sold in the first six months of 2025 stands at 4,622 units. Notably, this performance is a 144.7% increase on the 1,889 units sold by developers across the same period in 2024.”

One Marina Gardens

“One Marina Gardens continued to lead new home sales in June amid a quieter month featuring smaller boutique launches. This marks its second month running as a top performer since launching as Marina South’s maiden private residential project.

With June’s transactions, One Marina Gardens is now 53.3% sold, with 499 out of 937 units moved. Out of the 49 units sold in June, a significant 79.6% or 39 units, were smaller one- or two-bedroom units.

Caveat data as of 15 July 2025 also shows that one- and two-bedders at One Marina Gardens commanded median prices of $1.2 million and $2.1 million respectively. These quantums likely appealed to investors, as they are in line with June’s median prices for similarly-sized new homes in District 1.

Additionally, One Marina Gardens is a RCR development located near Singapore’s downtown core and just a short distance from Marina South MRT station. These locational advantages likely boosted its appeal to investors.”

Bloomsbury Residences

“Mirroring May’s performance, Bloomsbury Residences secured the second spot for top-performing projects in June. It moved an additional 30 units, with two-bedroom units continuing to be snapped up by buyers.

Two-bedroom units made up the bulk of new home sales at Bloomsbury Residences, accounting for 63.0% or 19 units of its total monthly transactions.

Latest caveat data reveals that two-bedroom units at Bloomsbury Residences had a median price of $1.7 million. This falls in line with the median price for new non-landed private homes sized between 50 sqm to 70 sqm transacted in District 5 during June.

The palatable pricing, along with Bloomsbury Residences’ location in the one-north innovation district, proved attractive to buyers seeking potential in the RCR market.”

Arina East Residences and Amber House

“Building on earlier launches, District 15 kept its momentum with the debuts of Arina East Residences and Amber House in June. As freehold offerings that are boutique in scale, both developments give District 15 buyers more options beyond larger, mass-market leasehold projects.

Latest URA figures show that Arina East Residences sold 9 units in June, representing about 8% of its 107-unit stock. Concurrently, Amber House moved 17 units, or approximately 16.2% of its 105 available homes.

Although take-up rates at Arina East Residences and Amber House were measured, this outcome was anticipated given their boutique nature and premium freehold price point. Without risk of lease decay, both projects also present viable options for legacy planning.”

Executive Condominiums

“June was a relatively quiet month for the EC market due to the lack of fresh supply. In total, only 33 units were sold across existing EC projects. These include Aurelle of Tampines, Lumina Grand, North Gaia, and Novo Place.

June’s sales contributed to all EC projects in the existing pipeline being fully taken up, barring a single unit at Lumina Grand as of early July.

With only 18 EC units left, this exhaustion of available stock should create substantial demand for the upcoming launch of Otto Place in July. Future EC supply will also be further boosted by the yet-unnamed project at Jalan Loyang Besar, which could debut in 4Q 2025.”

Luxury Home Market

“The luxury home segment saw a pickup in activity in June, with 16 new private residential transactions valued at $5 million and above.

Demand was largely driven by locals and Permanent Residents (PR), who accounted for six and nine transactions respectively. In contrast, only one high-end deal was made by a foreigner, with a transaction in the  $7 million to $8 million range.

The top three luxury transactions in June were all made by Singapore Permanent Residents (SPRs), and involved ultra-luxury properties at Skywater Residences and 32 Gilstead.

The highest value deal was a 5,285 sq ft unit at Skywater Residences, which transacted at $30.8 million. Meanwhile, the second and third priciest deals took place at 32 Gilstead, where a pair of approximately 4,200 sq ft four-bedroom units sold for $15 million apiece.

These expansive, high-end units likely appealed to PR buyers seeking luxury homes with generous floor plates in coveted addresses.  Moreover, such properties are especially attractive to affluent PR buyers, who face restrictions when purchasing landed homes in Singapore.”

Looking Ahead

“In 3Q 2025, the market is expected to see an estimated 4,154 new units launched for sale across various projects in Singapore. These launches will cater to a diverse range of buyer profiles, based on their differing needs, lifestyles and location preferences.

The CCR  is set to see a resurgence with four new launches in 3Q 2025, marking an uptick after a relatively quiet period in recent years. This fresh wave will see notable upcoming projects including UPPERHOUSE at Orchard Boulevard (301 units) and The Robertson Opus (376 units), both scheduled to debut later in July.

However, CCR sales are likely to remain measured due to higher price point. As such, the bulk of new home sales in 3Q 2025 is expected to still stem from the Rest of Central Region (RCR) and Outside Central Region (OCR) launches.

More broadly, we foresee that wider economic repercussions from ongoing global uncertainties and softer trade conditions could weigh in on consumer sentiment. This could prompt homebuyers to adopt a more cautious stance.

Nonetheless, possible silver linings may be found in a potential interest rate cut by the US Federal Reserve in July, alongside the recent 2025 Draft Master Plan announcements. This could offer some uplift to the market.

New housing neighbourhoods in areas such as Dover, Defu, Newton, and Paterson could boost buyer confidence, while reinforcing the Government’s long-term vision for urban renewal and liveability.

Looking ahead, ERA projects new home sales for the entire year of 2025 to range between 8,500 and 9,500 units.”

For media enquiries, please contact:

Lisha Rodney
Public Relations Manager, ERA Singapore

Email: Lisha.Rodney@era.com.sg

Disclaimer

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