A remarkable surge in Singapore’s private residential market occurred in February 2025, with developers selling 1,575 new private homes excluding executive condominiums (ECs), marking the highest February sales volume in 13 years since the 2,417 units transacted in February 2012.
The February performance represented a 45.4% increase from January 2025’s 1,083 units and was more than ten times higher than the 153 units sold in the same month last year, establishing itself as the largest monthly developer sales since November 2024 when 2,557 units were transacted.
The Outside Central Region (OCR) dominated the market with 1,452 units sold, while the Core Central Region (CCR) and Rest of Central Region (RCR) registered 25 and 98 units respectively. This extraordinary performance in the OCR marked the best monthly showing for suburban transactions in almost a decade, approaching the previous record of 1,523 units sold in July 2015.
Despite only two new project launches in February, both developments experienced exceptional market reception. Parktown Residence in Tampines, classified as an integrated mega-project with direct access to retail amenities and transportation infrastructure, sold 1,041 units at a median price of S$2,363 per square foot, representing 87% of its total inventory.
Concurrently, Elta in Clementi achieved approximately 65% sales, with two-bedroom configurations proving particularly popular, selling 179 units or 98% of available stock in that category.
Several factors contributed to February’s stellar performance, including strong pent-up demand in suburban neighborhoods that had experienced limited new supply for at least five years, decreasing mortgage rates, and growing preference for integrated developments. This trend aligns with broader market projections indicating private property prices will likely rise 3-5% in 2025. Singaporeans represented the overwhelming majority of buyers with 92.4% of purchases, reflecting strong local confidence in the property market. Buyers showed particular interest in properties offering unique amenities and location advantages, as highlighted by market experts.
The trend toward suburban condominiums priced at S$2 million or higher continues to gain traction, with robust take-up rates despite elevated price points.
With 2,658 new private home sales recorded in the first two months of 2025, market observers anticipate sustained interest in suburban integrated developments, potentially spurring developers to focus future launches on amenity-rich projects in mature estates where new supply remains constrained.
