Press Release

Prices

​​Private home prices rose ​by 1 per cent in the second quarter of 2025, ​a faster pace compared to the 0.8 per cent gain in the first quarter, based on the Urban Redevelopment Authority (URA) property price index (PPI). ​For the first half of this year, prices grew by 1.8 per cent, which is slower than the 2.3 per cent registered in the H1 2024 and 3.1 per cent in H1 2023. 

The price growth is driven mainly by higher price gains in the landed segment as well as in the Core Central Region (CCR). Non-landed homes in CCR grew by 3 per cent quarter-on-quarter, probably due to more units sold above S$4,000 during the quarter. This includes 7 units transacted at the S$4,000-psf-​but-less-than-$5,000-psf range, 3 units at the S$5000-psf-​but-less-than-$6,000-psf band and 1 unit above S$6,000 psf. ​T​ransactions above S$5,000 psf ​include projects like Sculptura Ardmore, Skywaters Residences and 21 Anderson.

Volume 

​​Private home sales (both non-landed and landed, excluding EC) decreased by 2​9.4 per cent from 7,​261 units in Q​1 202​5 to ​5,128 units in Q​2 2025.​ This is the lowest since 4,915 units were sold in Q2 2024. New sale volume dipped by 64.1 per cent from 3,375 units to 1,212 units over the same period. In contrast, resale volume rebounded by 2.3 per cent from 3,565 units in Q1 2025 to 3,647 units in Q2 2025. 

The primary market registered a more subdued performance, with the volume of units launched slide by 51.6 per cent quarter-on-quarter in Q2 2025. Developers typically ​hold back their launches during the June school holidays when many prospective buyers are overseas or on holiday.​ Consequently, more buyers turned to the secondary market to meet their housing needs. 

Rental

According to the Urban Redevelopment Authority (URA) rental index, private rents rose at a slightly faster pace of 0.8 per cent in Q2 2025, up from 0.4 per cent in the preceding quarter. This is the fifth consecutive quarter that the​ rental price change was within -1 to 1 per cent, ​i​ndicating that rent prices have ​continued to stabilise.

The private rental market may take longer than expected to fully recover, given the macroeconomic uncertainties surrounding the global trade wars. The hiring prospects may be cautious, which could cause some companies to slow down their expat hiring. Neverth​eless, the lower interest rates may bode well for businesses, as cost are reduced. ​We expect rental prices to rise modestly by up to 2 per cent for the whole of this year. 

Outlook

​Several new projects are slated for launch in the second half of this year, which are anticipated to boost sales transactions in the upcoming months. We anticipate increased interest from prospective homeowners and investors, as many new developments are expected to emerge in desirable locations, such as River Valley and Zion Road. ​Furthermore, interest rates are expected to continue their downward trend for the rest of the year, which will improve affordability for consumers. 

The lower cost of borrowing will create a more favourable buying environment, especially for first-time home buyers and investors with tighter budgets. Nevertheless, the ongoing geopolitical uncertainty may lead to a more prudent approach to spending and investment, with buyers being more price-sensitive and selective. ​ 

We anticipate that prices may rise by 3 to 5 per cent for the whole of 2025, with around 21,000 to 24,000 private homes (excluding ECs) being transacted.