Singapore’s private property market kicked off 2025 with a strong number of new condo sales. Developers moved over 1,000 units in January, signalling renewed buyer confidence and a possible shift in market sentiment. Could this mark a property market upswing in 2025? Let’s explore the facts and forecasts!
Table of contents
Strong new private home sales in January 2025
January 2025 saw a sharp rise in new condo sales, with developers selling 1,083 units, excluding executive condominiums (ECs). This marked an impressive 433% jump from December’s figures, where only 203 units were sold. Meanwhile, including ECs, the total of new sales in the month climbed to 1,104 units.
| Month | New Launches | New Sales | ||
| Excl. EC | Incl. EC | Excl. EC | Incl. EC | |
| Jan 2024 | 417 | 929 | 304 | 611 |
| Feb 2024 | 45 | 45 | 153 | 187 |
| Mar 2024 | 877 | 877 | 718 | 832 |
| Apr 2024 | 420 | 420 | 343 | 405 |
| May 2024 | 270 | 270 | 223 | 263 |
| Jun 2024 | 118 | 118 | 228 | 278 |
| Jul 2024 | 616 | 616 | 576 | 613 |
| Aug 2024 | 272 | 272 | 211 | 247 |
| Sep 2024 | 437 | 437 | 401 | 433 |
| Oct 2024 | 534 | 534 | 748 | 776 |
| Nov 2024 | 2871 | 3375 | 2560 | 2894 |
| Dec 2024 | 20 | 20 | 203 | 373 |
| Jan 2025 | 896 | 896 | 1083 | 1104 |
| M-o-M Change | 4380% | 4380% | 433% | 196% |
| Y-o-Y Change | 115% | -4% | 256% | 81% |
This rebound follows a strong end to 2024, when new private home sales in November surpassed 2,000 units in a single month for the first time since 2013. Last November was considered a mega property party for home seekers, where 6 highly-anticipated condos launched in a month with prices as low as S$1,489 psf.
The strong sales in January also marked the highest number of units sold in the first month of the year since 2021. Compared to January 2024, new condo sales more than tripled, showing a clear surge in demand. The strong performance suggests that buyers are regaining confidence in the private property market, driven by stable interest rates, long-term investment potential, and attractive new project launches.
Read more: 7 most anticipated new launch condos in Q1 2025
Key drivers behind January’s new condo sales
Much of the strong sales performance in January can be attributed to two major new project launches: The Orie in Toa Payoh and Bagnall Haus on Upper East Coast Road. Together, they accounted for nearly 70% of all new private home transactions in January.
Read more: The Orie and Bagnall Haus achieved strong sales, kickstarting new condo launch in 2025
The Orie, a 777-unit development in the Rest of Central Region (RCR), was the month’s best-selling project, with 683 units sold at an average price of S$2,735 per square foot (psf). This strong demand lifted overall sales in the RCR, which made up over 70% of January’s transactions. The Outside Central Region (OCR) contributed 17.6%, while the Core Central Region (CCR) accounted for just over 11%.
Top 10 projects by new sales in January 2025
| Project | Region | Units Sold | Median Price (S$) | Median PSF (S$) |
| The Orie | RCR | 683 | 2,347,832 | 2,735 |
| One Bernam | CCR | 99 | 2,033,242 | 2,557 |
| Bagnall Haus | OCR | 75 | 2,215,504 | 2,489 |
| Hillock Green | OCR | 22 | 2,289,500 | 2,277 |
| Chuan Park | OCR | 20 | 2,364,157 | 2,634 |
| Pinetree Hill | RCR | 19 | 2,768,842 | 2,525 |
| The Continuum | RCR | 13 | 2,791,923 | 2,958 |
| Hillhaven | OCR | 11 | 1,981,107 | 2,201 |
| Union Square Residences | RCR | 11 | 2,197,727 | 3,247 |
| Nava Grove | RCR | 11 | 2,736,891 | 2,562 |
Sales in the CCR, which had been lagging behind other regions, picked up thanks to price adjustments on select projects. One Bernam in the Downtown Core, for instance, saw a major increase in sales, with 99 units sold in January compared to just three in December. Developer discounts and the project’s nearing completion likely played a big role in this surge.
Meanwhile, EC sales took a backseat, with only 21 units sold in January. Half of the sales came from Novo Place, the most recent EC launched in November 2024. The EC sales are significantly down from the 170 units sold in December. This decline can be attributed to the limited supply of ECs, with only 148 unsold units remaining in the market by the end of the month.
Read more: Upcoming Executive Condo (EC) sites in 2025 – Which new EC should you go for?
Notable transactions in the luxury condo market
In the high-end property segment, Park Nova in Orchard Boulevard saw two significant sales. A penthouse spanning 5,898 square feet (sqft) changed hands for S$38.9 million (S$6,593 psf), making it the most expensive condo unit sold on a psf basis since 2011. Another buyer picked up a four-bedroom apartment in Park Nova for S$34.4 million in January.
These transactions highlight continued interest in Singapore’s prime properties, particularly from affluent buyers looking for rare, high-quality homes in prestigious districts. The luxury market remains attractive to ultra-high-net-worth individuals, with foreign investors and Singapore Permanent Residents (PRs) continuing to make big-ticket purchases.
Read more: Condo Cash or Crash? Examining the S$38.888M penthouse sale at Park Nova
Upcoming new launches in 2025 to keep the momentum going
Sales momentum is expected to remain strong, with two highly anticipated launches in February: ELTA in Clementi and Parktown Residence in Tampines North. Both locations offer strong transport links and plenty of amenities, making them attractive to homebuyers and investors alike.
The mega development Parktown Residence alone drew over 10,000 visitors during the first three days of its public preview. The 501-unit ELTA, on the other hand, drew over 4,500 visitors. Sales bookings for these projects open on February 22, and they are expected to see healthy demand.
Looking further ahead, new launches in March — including the 188-unit Aurea, the 477-unit Lentor Central Residences, and the 760-unit Aurelle of Tampines EC — will add even more options to the market.
Read more: Interested in Parktown Residence launch? Here are 5 key considerations for you
Factors driving buyer confidence in 2025
Several factors are contributing to renewed buyer confidence in the real estate market. Interest rates are expected to stay relatively stable, which could encourage more buyers to enter the market instead of waiting on the sidelines. Additionally, attractive pricing strategies from developers, coupled with well-located projects, are drawing buyers back into the market.
Government policies and infrastructure developments are also playing a role. The continuous expansion of MRT lines, urban renewal projects, and the redevelopment of older estates are making new homes more appealing. Areas undergoing transformation, such as Tampines North, Lentor, and Tengah, are likely to see strong demand as buyers anticipate future capital appreciation.
2025’s private home market forecast
With an active pipeline of new condo launches and improving buyer sentiment, developers’ sales are expected to remain strong throughout the year. Industry experts predict that sales could range between 7,000 and 9,000 new homes (excluding ECs) in 2025 potentially the highest annual figure in four years.
New condo prices are projected to increase by around 2% to 4% over the year, driven by sustained demand and fresh supply in key locations. First-time homebuyers, upgraders, and investors are all expected to contribute to this steady growth.
As the property market moves forward, upcoming condo launches and evolving buyer preferences will shape the next phase of Singapore’s real estate landscape. Whether it’s young families looking for accessibility, professionals seeking city-fringe convenience, or investors targeting long-term gains, 2025 is shaping up to be an exciting year for new condo sales.
Eyeing a particular new launch? Use 99.co’s Progressive Payments Calculator to see if it aligns with your financial planning.
About Ananda Bayu
Ananda has been wrangling Singapore's complex real estate trends into readable bites since 2020. She writes like she's explaining it to a friend over kopi — because who has time for jargon? When off the clock, she’s probably doom-scrolling through cat memes on X, convincing herself it's the highest tier of "creative inspiration".
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