Private Residential Market Q3 2025:
Have Condo Prices Finally Stabilised?

Core Central Region (CCR) Highlights

The CCR segment led price gains with a 2.4% quarterly increase in non-landed home prices. Importantly, transaction volumes surged to about 894 non-landed transactions, representing the robust quarterly CCR sales tally not seen in around 15 years (since Q2 2010) [URA, The Business Times].

Key launches fueling this activity included UpperHouse (Orchard Boulevard), The Robertson Opus (Robertson Quay), River Green (Zion Road), and W Residences (Marina View). About two-thirds of CCR homes sold during the quarter were priced below $2.5 million, broadening accessibility within a traditionally higher-priced district and attracting strong demand from locals and PRs.

Rest of Central Region (RCR) Trends

In the RCR, non-landed prices grew moderately by 0.4% q-o-q, with sales supported by niche developments in attractive locations like Science Park and River Valley.

• Lyndenwoods near Kent Ridge MRT saw a strong take-up of 94.5%

• The Promenade Peak launch in River Valley attracted buyers keen on a first-mover advantage in the precinct

• Boutique projects such as Artisan 8 near Upper Thomson MRT catered to residents focusing on freehold properties in tranquil neighbourhoods

Outside Central Region (OCR) Dynamics

OCR prices rose 1.0%, driven by new launches that addressed pent-up demand.

• The Springleaf Residence sold approximately 884 units (92%) on launch week at a median price near $2,166 psf (developer/ERA data)

• Canberra Crescent Residence is among the most affordable, with a median price close to $1,990 psf, appealing to value-conscious buyers

These projects leveraged new MRT lines and green spaces to combine accessibility with lifestyle benefits.

Secondary Market Update

While the primary market gained momentum, resale and sub-sale sales volumes declined:

• Resale (non-landed, excluding ECs) transactions fell 12.5% q-o-q to 2,762 units [ERA caveat data]

• Sub-sale transactions dropped 26.8% to 169 deals

• Median resale psf edged up approximately 1% q-o-q, signaling sustained price resilience despite slower trade

• Sub-sale median psf rose 3.3% to $2,155, influenced largely by CCR and RCR activity involving projects like Normanton Park and Penrose

Tighter supply due to falling new completions (projected 4,949 units by end-2025) helps maintain price support.

Developer Pipeline and Market Outlook

Several launches are anticipated in Q4 2025, including Penrith (Queenstown), Skye at Holland, Zyon Grand, The Sen, and Faber Residence. Collectively, these projects could introduce around 2,000 units, according to developer registrations and URA pipeline data (exact unit counts should be verified before publication).

Developers remain cautiously optimistic amidst rising building costs and market uncertainties, supported by Singapore’s positive GDP growth forecast of 1.5–2.5% and stable employment outlook [CBRE].

Final Thoughts

The Q3 2025 flash estimates suggest Singapore’s private residential market is stabilizing into a more balanced phase, with moderate price rises, rising transaction volumes, and selective buyer interest across regions.

The CCR leads with notable price and volume gains, while the RCR and OCR show steady but measured growth, supported by a pipeline of fresh launches and an improving macro-economic backdrop. Resale market volumes have moderated as new projects attract buyers seeking modern designs and desirable locations.

Compliance Note:

This article uses data principally from the URA Q3 2025 flash estimate (1 October 2025) and broker reports from ERA, CBRE, and Business Times, summarizing publicly available real estate transaction data. It does not constitute financial or investment advice. Readers should consult licensed professionals for personalized guidance.