How considerably has the condo resale market rebounded in early 2025?
February 2025 marked a notable recovery in private condominium resale activity, with 1,024 units changing hands, representing a 16.1% month-on-month increase from January and an impressive 31.8% year-on-year growth compared to February 2024. This robust performance exceeded typical seasonal patterns, indicating renewed market confidence despite ongoing economic considerations.
The condo resale market surged in February 2025, showcasing renewed buyer confidence amid evolving economic conditions.
Transaction values reflected this upward trajectory, with February resale transactions totaling $1.97 billion, up from $1.91 billion in January, while average resale prices improved by 1.7% month-on-month. The resale segment comprised 35% of all private non-landed transactions, excluding Executive Condominiums, one of the lowest proportions observed since January 2024, suggesting primary market launches continued to capture substantial buyer attention.
Price movements across regions demonstrated varied market dynamics, with the Core Central Region (CCR) experiencing a 0.3% month-on-month increase and a 4.3% year-on-year growth. Conversely, the Rest of Central Region (RCR) and Outside Central Region (OCR) recorded slight monthly declines of 0.5% and 0.4% respectively, while maintaining strong annual appreciation of 5.5% and 5.7%. These divergent trends highlight shifting buyer preferences and value considerations across Singapore’s property landscape.
Several factors contributed to February’s resale momentum, including narrowing price gaps between new launches and resales reaching their lowest levels in six months, thereby enhancing the value proposition of secondary market properties. The anticipated mortgage rate decrease in 2025 has further stimulated buyer interest in the resale market. The Palm Beach County market continued to outperform neighboring regions with increased condo sales and rising median prices reaching $330,000. The profit potential remained strong with million-dollar profits accounting for 15.7% of all resale transactions in February, an increase from January’s 14.3%.
Remarkably increased inventory levels, which grew 27.5% year-on-year, provided buyers with expanded options while stimulating competitive pricing strategies among sellers.
The market also witnessed heightened listing activity, with February recording the highest number of new listings for the month since 2021, rising 5.1% year-on-year.
This trend, coupled with a 1.2% increase in pending listings from February 2024, suggests growing seller confidence in market conditions despite persistent higher mortgage rates that might otherwise constrain demand in Singapore’s maturing residential property sector.
