Q2 2025 Singapore Property Price Trends

The Singapore property market continues to show signs of moderation as we enter the second half of 2025. According to the Urban Redevelopment Authority’s (URA) Q2 2025 flash estimates, private residential property prices rose by 0.5% quarter-on-quarter, a notable slowdown from the 0.8% increase in Q1 2025.

While the market remains resilient, the data points to a period of consolidation. Let’s break down the key trends, what’s driving the numbers, and what this means for homebuyers, investors, and sellers moving forward.

Breakdown by Property Segment

Here’s how different segments performed in Q2 2025:

Landed Properties:
Prices increased by 0.7%, continuing their strong momentum from Q1. The scarcity of landed homes in land-scarce Singapore is keeping this segment in demand.
Non-Landed Private Properties:
Overall, prices rose 0.5%, with contrasting performance across regions:
- Core Central Region (CCR): Up 2.3%
  Buyers returned to CCR projects as luxury and high-end properties saw more traction, particularly from foreign investors and ultra-high-net-worth buyers.
- Rest of Central Region (RCR): Down 1.1%
  RCR saw a dip, likely due to the reduced launch activity and cautious buyer sentiment.
- Outside Central Region (OCR): Up 0.9%
  OCR continues to be the most popular among first-time homebuyers, especially due to affordable new launches and Executive Condominium (EC) demand.

Transaction Volumes Dropped by 40%

While prices inched upward, the number of private property transactions in Q2 fell by over 40% compared to Q1. This reflects a cautious approach by buyers amid:

Uncertain global economic conditions
Rising mortgage interest rates
Ample pipeline supply from new Government Land Sales (GLS) and Build-To-Order (BTO) exercises

Buyers are increasingly price-sensitive, and many are taking a wait-and-see approach before committing to a home purchase.

Developers Holding Launches Steady

Despite softening demand, developers are generally maintaining their price levels. In high-demand regions like the CCR and OCR, price resilience remains due to strong project branding, location advantages, and limited land availability.

However, in the RCR, developers are likely to offer more competitive pricing or launch promotions to attract cautious buyers.

Market Drivers: Why Growth Is Slowing

The slower price growth and declining volume stem from multiple factors:

GLS Supply Pipeline:
The government has ramped up the release of new land plots in 2025. This has reassured the market that future housing supply will be ample, reducing FOMO (fear of missing out).
Higher Mortgage Rates:
With interest rates climbing globally, home loan affordability is now a key concern, especially for first-time buyers and investors.
Cooling Measures’ Lingering Effects:
Although no new cooling measures were announced in 2025, the effects of previous policies (like tighter TDSR and ABSD hikes) continue to influence buyer behaviour.
Global Economic Uncertainty:
With inflation concerns, geopolitical issues, and slower regional growth, investors are more cautious about where they park their capital.

What This Means for Buyers

This market presents a window of opportunity for genuine homeowners and long-term investors. With prices stabilising and developers adjusting expectations, buyers have:

More room to negotiate
Less urgency, thanks to higher supply
Greater clarity on long-term affordability

If you’re a first-time buyer or upgrading from an HDB flat, now may be the best time to shortlist and monitor projects in OCR and selected RCR locations.

For Sellers: Strategy Matters

If you’re looking to sell your private property, now is the time to:

Focus on value-based pricing, not speculation
Ensure your unit is well-presented — buyers are choosier
Be open to negotiation, especially in RCR areas

For landlords, rental demand remains firm — but returns may plateau as more BTO and EC units TOP over the next 12–18 months.

For Developers: Launch Timing Is Key

With over 20,000 new units expected from both GLS and en-bloc redevelopments between now and 2027, developers must:

Time launches to avoid clashing with nearby projects
Emphasise branding, connectivity, and amenities
Consider smaller unit sizes to remain price-competitive

Upcoming H2 2025 projects like Amber House, LyndenWoods, and Otto Place EC will test how receptive the market is to new launches.

Buyer Tip of the Week

Look into OCR projects launching in Q3 2025, particularly ECs in Tengah and Woodlands — they offer a strong entry point into private home ownership at subsidised rates.

Conclusion: A Balanced Market Ahead

The Q2 2025 data suggests Singapore is moving into a more balanced and sustainable housing cycle. While price growth has slowed, there’s no crash on the horizon — instead, we see a cautious optimism and stronger fundamentals.

The government’s proactive GLS programme, ongoing BTO supply, and resilient demand in key regions mean buyers and sellers can both navigate with confidence — but strategy, timing, and information will be more important than ever.