Singapore’s private condo resale market showed renewed momentum in July 2025, with both transaction volumes and prices seeing healthy increases. The market’s resurgence reflects growing buyer confidence amid evolving interest rate dynamics and regional demand shifts.
Key Market Highlights
- Transaction Volumes: An estimated 1,076 condo units were resold in July, marking a 15.1% increase from June’s 935 units 99.coSingapore Real Estate Exchange (SRX). Although lower by 5.6% year-on-year (compared to an exceptionally active July 2024), the figures remain stable relative to the five-year July average 99.coSingapore Real Estate Exchange (SRX).
- Price Trends: Overall condo resale prices inched up 0.7% month-on-month, while year-on-year growth stood at 5.3% Singapore Real Estate Exchange (SRX)Singapore Business Review.
Regional Price Movement Snapshot
| Region | MoM Change | YoY Change |
| RCR | +2.1% | +4.4% |
| OCR | +0.1% | +5.3% |
| CCR | –2.1% | +2.8% |
While RCR (Rest of Central Region) led with the strongest monthly gain, OCR (Outside Central Region) also held steady. CCR (Core Central Region) saw a slight dip in July but remained positive on a yearly basis Singapore Real Estate Exchange (SRX)Singapore Business Review.
Volume Breakdown by Region
Of the 1,076 resale units, distribution by region was approximately:
- 50.5% in OCR
- 32.6% in RCR
- 16.9% in CCR
This spread underscores the continuing importance of affordability and family-friendly districts in driving market activity Singapore Real Estate Exchange (SRX).
Spotlight Transactions & Market Returns
July also saw standout transactions that underscore persistent demand at the high end:
- Boulevard 88 (CCR) recorded the highest resale price: S$13 million.
- The Sovereign (RCR) attracted a top resale of S$8.4 million.
- Ocean Park (OCR) topped at S$4.1 million Singapore Real Estate Exchange (SRX).
Buyers and sellers enjoyed healthy returns as well:
- Median capital gain stood at S$371,000, a slight dip of S$4,000 from June Singapore Real Estate Exchange (SRX).
- District 11 (Newton / Novena) led with the highest capital gain: S$767,000.
- Median unlevered return across all condo resales was 31%.
- District 20 (Ang Mo Kio / Bishan / Thomson) delivered the strongest return: 46%, while District 1 posted a negative return of –3.8% Singapore Real Estate Exchange (SRX).
What’s Fueling the Surge?
- Interest Rate Motivation
With SORA rates declining below HDB loan rates, buyers appear to have seized the moment to buy before mortgage costs potentially climbed again 99.co. - Affordability & Family-Friendly Appeal
OCR and RCR continue to dominate due to relative affordability and appeal to upgraders and families—consistent with their share of resale volumes 99.coSingapore Real Estate Exchange (SRX). - Luxury Market Still Active
CCR remains a stage for standout transactions, signaling resilient interest in premium, centrally located units despite softer pricing in July 99.coSingapore Real Estate Exchange (SRX).
Broader Insights & Outlook
- MoM Gains Amid Cooling Risks: While volume and price gains suggest revival, caution remains prudent in light of market cooling measures and global economic headwinds.
- OCR & RCR as Stability Anchors: These regions remained the activity drivers and are likely to sustain volume and price support in H2 2025.
- CCR Demand Endures: Ultra-prime projects continue to trade at elevated prices—maintaining investor sentiment in that segment.
- Diverging Returns: High returns in mature districts like District 11 show strong location-based advantages. Losses in District 1 highlight risks tied to oversupply or unit specifics.
Conclusion
July 2025 saw a healthy rebound in Singapore’s condo resale market, with volumes surging 15.1% and prices climbing 0.7%, especially in RCR and OCR regions. While CCR saw some softness, it continues to deliver strong annual performance and marquee transactions.
The market narrative suggests that buyers—particularly upgraders and families—are regaining confidence, with interest rate trends and supply dynamics reinforcing sustained interest in private condos. That said, the market remains nuanced, with returns varying sharply by district.
