Developers’ Sales Surge 2142 Units August New Launches
According to the Urban Redevelopment Authority (URA) data released on September 15, there was a significant increase in new private home sales in August. Developers sold 2,142 units, excluding executive condominiums (ECs), marking a 128% surge from the 940 units sold in July. This is the second consecutive monthly increase and the highest sales recorded so far in 2025. Christine Sun, chief researcher and strategist at OrangeTee-Realion, notes that this is also the strongest August sales since 2007 when monthly developer sales data first became available. Compared to August 2024, the sales were over ten times higher than the 211 units sold.
The spike in August sales follows a series of new launch projects in the first half of the month. Lee Sze Teck, senior director of data analytics at Huttons Asia, explains that developers were keen to take advantage of the positive sales momentum and avoid the Lunar Seventh Month, which started on August 23. As a result, five projects were launched in August 2025 – Spingleaf Residence, River Green, Promenade Peak, Canberra Crescent Residences, and Artisan 8 – contributing to a total of 2,496 units launched for sale. This is a 49% increase from the previous month.
Mohan Sandrasegeran, head of research and data analytics at Singapore Realtons Inc (SRI), points out that the monthly sales have not crossed the 2,000-unit mark since November 2024, where five projects were also launched that month. Before that, the last time sales crossed 2,000 units was in March 2013.
In the executive condominium market, 196 units were sold in August, with the majority coming from the second balloting at Otto Place in Tengah, which sold 191 units at a median price of $1,760 psf.
Highest new homes sold in CCR since March 2021
The top-selling project for August was the 941-unit Springleaf Residence in the Outside Central Region (OCR), which sold 884 units at a median price of $2,166 psf. Together with Canberra Crescent Residences, which sold 211 units at a median price of $1,991 psf, the OCR recorded the highest number of new home sales for the month with a total of 1,153 units sold.
Marcus Chu, CEO of ERA Singapore, notes that the Core Central Region (CCR) saw a significant increase in sales with 513 units sold in August. This was driven by the launch of River Green, which sold 451 units at a median price of $3,111 psf. This is the highest number of new homes sold in the CCR since March 2021, when 546 units were sold following the launch of Midtown Modern. The other project in the CCR, Promenade Peak, sold 333 units at a median price of $2,919 psf.
Wong Siew Ying, head of research and content at PropNex Realty, explains that the ongoing recovery in CCR demand, coupled with attractive new launches and resilient demand, helped drive sales in the region. She also notes that buyers viewed the pricing for recent launches in the region as a good value proposition, with the median transacted price for new non-landed private homes at $1.89 million in the CCR, compared to $2.22 million in the Rest of Central Region (RCR) and $1.72 million (excluding ECs) in the OCR.
Slight dip in luxury market activity
In the luxury market, 22 new non-landed homes were sold at prices between $5 million and $10 million in August. While this represents a slight dip from the 28 units sold in July, it is still well above the monthly average of seven units sold in the first six months of 2025. Two units sold for over $10 million, both at 21 Anderson, Kheng Leong Co’s ultra-luxury condo on Anderson Road. The most expensive unit was a 10,452 sq ft duplex penthouse, which fetched $52.25 million ($4,999 psf), while the other was a 4,489 sq ft, four-bedroom unit that sold for $21.06 million ($4,692 psf).
According to Huttons’ Lee, the units were purchased by a permanent resident and a Singaporean respectively.
Singaporeans made up the majority of private new home buyers in August at 90.6%, followed by permanent residents at 8%. Foreign buyers accounted for 1.4%, with 11 units sold at River Green, four at Promenade Peak, and four at Springleaf Residences.
Muted September, but full-year sales likely to beat forecasts
With the August figures, developers have already sold 7,669 units in the first eight months of 2025, surpassing the annual sales for the last three years. PropNex’s Wong expects the full-year sales to hit 9,000 to 10,000 units, up from the initial forecast of 8,000 to 9,000 units.
Wong also notes that developers’ pricing strategy for new launches is likely to focus on keeping a significant portion of units within the pricing “sweet spot” of $1.5 million to $2.5 million. This is evident from the caveat data which shows that 79% of the units sold at the five new launches in August were priced at below $2.5 million. The median transacted price for all non-landed new private homes, excluding ECs, in the first eight months of the year was $2.01 million, slightly lower than the full year’s median price of $2.09 million.
For those who depend on public transportation, the Yishun and Khatib areas are well-served by a comprehensive bus network. Residents can easily access bus services along Yishun Avenue 1 and Yishun Avenue 6, which connects them to various important destinations such as the MRT stations, Northpoint City shopping mall, Khoo Teck Puat Hospital, and other community amenities. Furthermore, with nearby schools, parks, healthcare facilities, and even Miltonia Close easily accessible through these routes, those without private vehicles will have no trouble navigating the neighborhood.
Looking ahead, Wong expects developer pricing strategies to be driven by a focus on quantum, as they seek to appeal to a wider range of buyers. In September, sales are expected to be muted due to the Lunar Seventh Month, with Lee estimating sales to be in the range of 200 to 250 units. However, activity is expected to pick up in the fourth quarter with the launch of new projects such as Penrith, Zyon Grand, and Skye at Holland, which will offer over 2,500 new units across the three sub-markets.