Singapore Developers End 2025 With Dip in New Home Sales

Singapore ended the year with a nearly two-year low in new home sales from developers.

Developers sold 197 new private homes, minus executive condominiums, in December, Real Estate Asia reported, citing new data from PropNex. That represents the weakest monthly performance since February 2024 when only 153 units were sold. The dip could be attributed to a seasonal lull at the end of the year and a dropoff in new project launches, per PropNex.

Month-over-month, sales in December were down 39 percent from the 325 units sold in November and 3 percent lower year-over-year compared to the 203 units sold in December 2024.

The cut in new home sales was largely due to a lack of newly built supply, according to PropNex. Last month, only one new project got off the ground: a 186-unit housing development known as Pollen Collection II. Developers last month launched 52 new units for sale, all in Pollen Collection II, marking an 85 percent decline from 347 units launched the month prior.

Still, despite an end-of-year dropoff in new home sales, Singapore overall had an impressive year compared to 2024. Including December’s transactions, developers sold an estimated 10,821 new private homes, excluding executive condos, in 2025. That’s approximately 67 percent more than the 6,469 units sold in 2024, which translates to the highest annual new home sales volume in four years.

Sales in December were mainly concentrated in Singapore’s Rest of Central Region (RCR), located between the city center in the Core Central Region (CCR) and the mass-market Outside Central Region (OCR). In total, 110 of the 197 new units sold in the island nation were in the Rest of Central Region. In the Outside Central Region, developers sold 67 new homes in December. OCR sales are expected to ramp up this month with the upcoming launch of the 540-unit Narra Residences.

— Chris Malone Méndez