Singapore’s condo resale market showed resilience in April 2025, with both prices and sales volumes experiencing a slight increase.
This consistent activity suggests a stable market, potentially influenced by a quieter new launch calendar that redirected buyer interest towards resale units, especially for those who prefer move-in-ready properties.
While sales were just marginally higher than the month before, they continued to trend above the 5-year average for April, signalling that overall buyer interest hasn’t waned, despite external uncertainties like the newly introduced tariffs in the U.S. which may have caused some buyers to pause and reassess their options.
Table of contents
- Prices inch up across the board
- Sales volume shows steady and promising trend
- High-value transactions highlight market strength
- Capital gains and returns show positive trends
Prices inch up across the board
Condo resale prices continued their upward trend in April 2025. Across the board, overall prices increased by 1.9% month-on-month.
Compared to April 2024, overall prices saw a healthy 5.9% year-on-year increase. This sustained year-on-year growth suggests a robust underlying demand for private non-landed properties, consistently pushing prices higher despite month-to-month fluctuations.
Breaking it down by region, in April 2025:
- Core Central Region (CCR) prices increased by 1.3%. Year-on-year, CCR experienced a price increase of 5.9%. The steady increase in CCR indicates continued confidence in the prime district market, possibly from both local and foreign investors.
- Rest of Central Region (RCR) saw the highest month-on-month increase at 2.4%, with a 5.7% year-on-year rise. RCR’s stronger monthly growth could point to it being a sweet spot for buyers seeking a balance between accessibility to the city and relatively more affordable price points compared to CCR.
- Outside Central Region (OCR) prices were up by 1.3% month-on-month and 6% year-on-year. The OCR’s leading year-on-year price increase of 6% suggests strong demand from HDB upgraders and first-time private home buyers, who typically find more entry-level options in this region.
Sales volume shows a steady and promising trend
An estimated 1,178 units were resold in April 2025, a marginal increase of 0.1% from the 1,177 units resold in March 2025. This largely stable volume, despite external factors, suggests a consistent underlying demand in the resale market.
While resale volumes were 3.5% lower than in April 2024, their 10.7% increase above the five-year average for April indicates that current transaction levels are healthy in a broader historical context.
Regionally, the volume breakdown in April 2025 was:
- OCR accounted for 49.2% of the total volume. This high proportion reinforces OCR’s role as the engine of the resale market, driven by its larger housing stock and affordability.
- RCR contributed 31.8% of the total volume. RCR maintains a significant share, likely due to its strategic location and diverse offerings.
- CCR made up 19% of the total volume. The lower percentage in CCR is expected, given its smaller and more exclusive market.
The percentage of sub-sale transactions to the total secondary sale transactions (i.e., Resale + Sub-Sale) was 6.3% in April 2025, which decreased from March 2025. Sub-sale transactions refer to secondary sale transactions occurring before the project is completed.
The decline in sub-sale activity could indicate fewer speculative purchases or a market where buyers prefer completed units for immediate occupation or rental.
High-value transactions highlight market strength
April 2025 saw several notable high-value transactions, showcasing the continued demand for premium condo units. Let’s look at these transactions in depth.
1. The highest transacted price for a resale unit overall was a substantial S$13,000,000 at Hilltops.
This top-tier sale demonstrates that demand for luxury properties remains strong, with buyers willing to pay a premium for prime locations and exclusive developments in Singapore’s prime District 9 (Newton/Orchard).
Developed by the renowned SC Global, Hilltops was completed in 2011 and offers a sophisticated residential experience with 240 units across two blocks. It’s strategically located on Cairnhill Circle, within walking distance to Newton MRT (DT11/NS21), providing excellent connectivity to the CBD and other parts of Singapore.
Beyond its prime address, Hilltops is celebrated for its resort-style facilities, sprawling landscaped grounds, and dedicated concierge service, designed to offer residents an unparalleled lifestyle of privacy and exclusivity amidst the city’s hustle.
Proximity to elite schools like Anglo-Chinese School (Junior) and prestigious shopping destinations like Paragon further cements its status among discerning buyers, fully justifying its multi-million dollar transactions.
2. In RCR, the highest transacted price was S$9,305,000 for a resale unit at Reflections at Amber Residences.
This high transaction in the RCR highlights the appeal of well-located, high-quality developments even outside the CCR.
Completed in 2011, Amber Residences in Marine Parade, District 15, offers 114 units across a single block. It offers excellent connectivity, being within walking distance to Tanjong Katong MRT and Marine Parade MRT.
For families, the proximity to schools like Shaws Preschool @ Mountbatten Road and Zhicheng Private School adds to its value. Daily conveniences are also well-covered, with nearby supermarkets like CS Fresh i12 and Katong Market Place, and easy access to clinics and postal services.
Residents can also enjoy leisure activities at the nearby Coastal Playgrove park, making it a truly comprehensive living environment that is worth the high price.
3. In OCR, the highest transaction was a unit at Breeze by the East, which resold for S$4,400,000.
Breeze By The East, a freehold condominium completed in 2011, offers a more intimate living experience with just 88 units spread across 7 blocks. Its premium value is driven by its excellent connectivity, being conveniently located within walking distance to Bayshore MRT (TE29) and Siglap MRT (TE28) stations.
For families, the presence of quality educational institutions such as Rainbow Cove Pre-School@Upper East Coast and Alphabet Playhouse@East Coast further enhances its appeal.
Amenities include nearby supermarkets like The Essential Corner and Greenberry Mini Mart for daily needs. Bayshore Underpass and nearby coastal amenities offer residents ample opportunities for leisure. These attributes make Breeze by the East a desirable address in the OCR.
1
1
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
1
1
1
Capital gains and returns show positive trends
The overall median capital gain for resale condos was S$401,000 in April 2025, an increase of S$46,000 from March 2025. This substantial median gain suggests that the majority of condo resale owners are seeing significant appreciation on their investments.
- District 15 (East Coast / Marine Parade) posted the highest median capital gain at S$785,000. This outstanding performance in District 15 highlights the strong desirability of the East Coast area, likely driven by its lifestyle amenities, proximity to the beach, and good schools.
- Conversely, District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median capital gain at -S$160,000. This negative median gain in a prime district like District 1 could indicate that some initial purchases were at peak prices, or that the holding period was insufficient to realise positive gains, especially for properties bought just before market corrections.
The overall median unlevered return for resale condos was 32.7% in April 2025. This signifies that condo investments are generally yielding healthy profits for owners.
- District 22 (Boon Lay / Jurong / Tuas) posted the highest median unlevered return at 51.3%. The exceptional returns for this industrial and suburban area, suggest significant growth potential and value appreciation, possibly driven by ongoing developments in the Jurong Lake District and improved connectivity.
- District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median unlevered return at -5.8%. Similar to the capital gain, a negative unlevered return in District 1 points to challenging conditions for some investors. This could possibly be due to higher entry prices or shorter holding periods.
Please note: The condo resale unit’s capital gain and return are calculated by comparing the current transacted price with the previous transacted price of the same unit. Districts with less than 10 matching transactions are excluded from the ranking to ensure quality data.
Summary
April 2025 painted an overall rosy picture for Singapore’s condo resale market. The overall price index’s healthy 1.9% month-on-month rise and a significant 5.9% year-on-year increase clearly underscore a resilient market. This consistent appreciation suggests that despite broader economic uncertainties, buyer confidence in Singapore’s private residential sector remains strong.
The regional dynamics further illuminate market behaviour. The OCR continues to dominate volume at 49.2%, as the primary driver for HDB upgraders and first-time private home buyers. Meanwhile, the RCR’s impressive 2.4% month-on-month price surge positions it as an increasingly attractive sweet spot.
April 2025 saw a substantial volume of new units launched (over 1,300). However, there is still a relative scarcity of mass-market projects. Additionally, the higher price points of the new condo supply in CCR and RCR may have steered buyers towards the resale market.
The percentage of sub-sale transactions to the total secondary sale transactions decreased from March 2025. The inference here is that buyers and sellers are increasingly focusing on genuine occupancy or longer-term investment.
With prices continuing to climb and capital gains looking strong, the data certainly makes a compelling case for condo investments. Ready to explore your options? Browse the wide range of condos currently on sale on 99.co to find your ideal home or next investment:
3
3
2
2
1
2
4
4
2
1
4
4
3
2
4
4
3
3
1
1
About 99.co
We are a property search engine with the overarching goal of building a more transparent and efficient property market. We are working towards that future by empowering people with the tools and information needed to find a place to live in the best way possible.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Facebook | Instagram | TikTok | Telegram | YouTube | Twitter
Leave a comment