Launches and Sales

The positive sales momentum in the property market continued, aided by a steady pipeline of attractively-priced launches, pent-up demand, lower interest rates, better economic growth and ample liquidity.

The first rate cut in Sep 2025 by the US Federal Reserve in nine months led to local borrowing rates sliding below 2%. Borrowing rates are at its lowest since 2023 and that has attracted a number of investors keen to invest in property.

Developers sold 2,424 units in Oct 2025, 9.5 times higher than the previous month and 224.1% more than a year ago.

This is the highest monthly sales figure in 2025 and the highest Oct sales since data was made available in 2007.

Developers launched 2,233 units for sale in Oct 2025, an exponential jump from the 20 units launched in Sep 2025. This is 318.2% higher than Oct 2024.

There were four major launches in Oct 2025 – Faber Residence, Penrith, Skye at Holland and Zyon Grand.

Faber Residence, the first project in the Faber Hills area since 2014 sold 348 units. This is probably the last plot of land to have waterfront living in the Faber Hills area.

Penrith, the first project launch in the Margaret Drive area in almost 8 years sold 446 units. Situated in the mature estate of Queenstown, Penrith is well-connected with multiple transportation options such as the AYE and Queenstown MRT station.

Skye at Holland, the first launch in Holland Village in 5 years, sold 662 units. Homebuyers were keen to buy a unit in what may possibly be the last project launch in Holland Village and a well-located project within a 5-minutes’ walk to Holland Village MRT station.

Zyon Grand sold 595 units with buyers drawn to its excellent locational attributes and integration with transport and amenities.

Huttons Data Analytics estimate developer’s sales excluding ECs in the first ten months of 2025 at almost 10,300 units. This is around 94% of Huttons revised estimates for the full year.

Purchases by Market Segments and Price Range

The CCR accounted for almost 30% while the RCR and OCR made up 50.5% and 19.6%.

724 units were sold in the CCR in Oct 2025. This is the highest monthly sales in the CCR since data was made available in 2007.

Skye at Holland accounted for 91.4% of the CCR sales in Oct 2025. The median price of $2,949 psf is very competitive against other launches. There was very strong demand for the bigger units like the 3 to 5-bedroom units.

Top Projects by Sales in Oct 2025

Source: URA, Huttons Data Analytics as of 17 Nov 2025

Buyer Profile

Singaporeans made up 86.7% of buyers in Oct 2025 while PRs accounted for 12.0%.

Buyers flexed their financial strength in Oct 2025. Almost two-thirds of the sales in Oct 2025 were between $2 million to below $5 million.

There were 4 sales of units priced above $10 million in Oct 2025.

A PR paid a record $6,501 psf for a unit in the Aman-branded residence at Skywaters Residences. This was the second 99-year leasehold non-landed home sold above $6,000 psf and the highest unit price for a 99-year leasehold non-landed home.

The other units priced above $10 million were all purchased by Singaporeans.

Purchases by Residential Status and Price Range in Oct 2025

Purchases by Foreigners

There were 31 purchases by foreigners in Oct 2025 compared to 15 in the previous month.

Most of the purchases took place in new project launches in Oct 2025. Zyon Grand saw 11 sales while Skye at Holland booked 9 sales.

A foreigner from Cambodia bought a unit in One Marina Gardens for around $5.1 million. Some foreigners are willing to pay 60% ABSD due to Singapore’s status as a safe haven amid global uncertainty. Furthermore, the strong Singapore Dollar vis-à-vis other major currencies, including the US Dollar, is beneficial to foreign buyers.

Overall the CCR had 11 units sold to foreigners while the RCR had 20 units.

The proportion of purchases by foreigners was 1.3% in Oct 2025.

Source: URA, Huttons Data Analytics as of 17 Nov 2025

Executive Condominiums

22 EC units were sold in Oct 2025 with almost all the sales done in Otto Place. The number of unsold EC units was 53 in Oct 2025.

Outlook

Singapore’s economy was resilient despite the tariffs, growing 3.9% year-on-year in the first nine months of 2025, giving buyers the confidence to enter the property market. Many economists have also revised their forecast for Singapore economic growth in 2025 upwards.

In Nov 2025, the first project in the Upper Bukit Timah area in 5 years, The Sen was launched for sale. It sold 80 units during the launch weekend at an average price of $2,358 psf. The starting price of below $1 million for a one-bedroom unit is hard to beat and all the one-bedroom units are fully sold.

Coastal Cabana, the first EC in Pasir Ris in more than 10 years could see pent-up demand from buyers when the show gallery is opened to the public in Dec 2025.

Huttons Data Analytics estimates developers’ sales for 2025 to be as high as 11,000 units, the highest annual sales number since 2021.

Prices on the other hand are forecasted to grow between 3% and 4% in 2025.

Upcoming Projects in Nov 2025

Source: URA, Huttons Data Analytics as of 17 Nov 2025

Upcoming Projects in 2026

Note: Projects are listed in alphabetical order followed by chronological order.

Source: URA, Huttons Data Analytics as of 17 Nov 2025