March 2025 Monthly Developer Sales: Commentary by ERA

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

Demand in the new home market remained strong in March, as we saw developments like Lentor Central Residences and Aurelle of Tampines (EC) achieving near-full sales at launch.

In total, the market saw 729 new private homes (excluding ECs) sold by developers in March, with the 54.4% month-on-month (m-o-m) decrease reflecting February’s large base. Smaller development sizes also contributed to March’s lower sales volume.

March saw a total of 555 new home launched (excluding ECs), due to the launch of smaller developments namely Lentor Central Residences (477 units) and Aurea (188 units). This is a sharp contrast to February, which saw the launch of nearly 1,700 new homes launched at Parktown Residence (1,193 units) and Elta (501 units).

“Collectively, some 3,409 new private homes (excluding EC) were sold in 1Q 2025, and this represents nearly 51% of 6,626 new private homes (excluding EC) sold in 2024.

Since early April, Trump’s new tariffs have roiled global markets and triggered volatility, resulting in dampened sentiments that could weigh on local real estate. As a result, some property investors may opt to wait out any potential turbulence and delay their purchases. However, this is expected to be a knee-jerk effect.” said Marcus Chu, CEO, ERA Singapore.

“Singapore’s property sector benefits from domestic buyers’ mid- to long-term outlook. This ensures that local real estate activity remains rooted in genuine buyer needs, rather than speculative activity.”

“Come next month, we can expect to see the launches of One Marina Gardens (CCR), as well as Bloomsbury Residences and Arina East Residences (both RCR) which are expected to draw more investors, rather than owner occupiers.

ECs, on the other hand, will see new home stocks continuing to deplete with a lack of new launches in April. Second-timers are also expected to snap up remaining units at Aurelle of Tampines once booking commences. For the whole of 2025, ERA Singapore projects new home sales to be between 8,500 and 9,500 units.”

Lentor Central

Though Lentor Central Residences was the sixth new private development to debut in the area, it saw a 96.2% take-up rate on its launch weekend. Strong demand for the project largely stemmed from a combination of competitive pricing and appealing location attributes.

Additionally, Lentor Central Residences presented a competitive value proposition versus other recent OCR new launches. The median price of OCR new sales in 1Q 2025 was $2,288, while the median new sale price of Lentor Central Residences in March was $2,213 psf.

Aurea

Aurea, the former Golden Mile Complex, achieved a 30.8% take-up rate on its launch weekend, selling 24 of the 78 units launched due to their large floor plates and attractive views of Kallang Basin and Marina Bay. Considering Aurea’s premium positioning, this sales rate is respectable, and we can expect sales momentum to continue since we expect this product to be more well-received by investors and young couples. This explains why nearly half of the units sold at launch weekend were two-bedder (11 units), at a median quantum of $1.9M.

Aurelle of Tampines (EC)

March saw a surge in EC transactions with 781 ECs sold, marking a sharp increase from just 29 units sold in Feb. This was largely driven by the launch of Aurelle of Tampines (EC), which sold 705 of its 760 units (92.8%) at a median price of $1,769 psf.  The attractive location attributes of the EC being located just beside the new integrated transport hub and a new Parktown Mall, explains why buyers were motivated to make their purchase.

Moreover, being an EC, its lower price provided more value when compared to the nearby Parktown Residences which sold 87% of units in February when it was launched. The balance units at Aurelle of Tampines were promptly snapped up when sales for second-timer buyers opened in April, underscores its positioning as a choice development to buyers.

With the falling number of EC units balance across the island, we expect buyers to be waiting on the side for EC launches such as the upcoming Otto Place at Plantation Close and EC development at Jalan Loyang Besar.

The uncertainty around the economic conditions and financial markets due to the stop-start tariffs imposed has also caused fear among a minority of buyers, resulting in them waiting on the sidelines. However, as property is still widely seen as a stable, non-volatile asset, buyers will still look towards them due to their non-speculative nature.

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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