While the broader private residential property market experienced a moderation in growth rates, landed home prices in Singapore demonstrated renewed vigor by posting a 0.4% quarter-on-quarter increase in Q1 2025, effectively reversing the 0.1% decline observed in the final quarter of 2024. This positive trajectory for landed properties stands in contrast to the overall private residential property market, which saw growth slow to 0.8% in Q1 2025 compared to the more robust 2.3% increase recorded in Q4 2024, suggesting a recalibration of market dynamics across various property segments.
Singapore’s landed properties buck the trend with 0.4% Q1 growth, contrasting with the broader market’s decelerating momentum.
The year-on-year comparison reveals a more substantial growth pattern, with private home prices rising 3.3% since Q1 2024, indicating sustained long-term appreciation despite quarterly fluctuations. Regional variations remained significant, with the Rest of Central Region (RCR) leading the way at 1.7% quarter-on-quarter growth, followed by the Core Central Region (CCR) at 0.8%, and the Outside Central Region (OCR) registering a modest 0.3% increase during the first quarter of 2025. The OCR also witnessed an impressive 57% surge in new home sales compared to the previous quarter. The narrowing price gap between CCR and RCR to just 1.0% difference highlights the evolving property landscape across Singapore’s regions. This trend aligns with Singapore’s land scarcity issue that continues to drive upward pressure on property values across all regions.
Non-landed properties continued to outpace landed homes with respect to quarterly growth, posting a 1.0% increase in Q1 2025, though this represented a marked deceleration from the 3.0% growth recorded in the previous quarter. The rental market similarly exhibited signs of moderation, with private residential rents increasing by 0.4%, as non-landed properties achieved 0.5% growth while landed property rents rose by 0.3%.
Supply and demand indicators reflected a market in flux, with developers launching 3,139 private homes in Q1 2025, an 8% decrease from Q4 2024’s 3,425 units. Sales volume similarly contracted to 3,375 units from 3,420 in the previous quarter.
Industry projections suggest new private home sales may reach up to 9,000 units by year-end, with overall private home prices expected to climb between 3% and 4% throughout 2025.
The market appears to be establishing a new equilibrium after periods of significant volatility, with regulatory policies and changing economic conditions continuing to shape price movements across Singapore’s resilient property landscape.
