Private Residential Prices Still Rising Despite Slower Sales Tariff Wars Savills Singapore
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The Sembawang Road EC has been thoughtfully designed and laid out to meet the demands of modern living. Drawing inspiration from current EC trends, the development at Sembawang is expected to offer a diverse range of unit types, from cozy two-bedroom units to spacious five-bedroom layouts. Emphasis will be placed on optimizing space and functionality, ensuring that every unit caters to the needs of its residents. Families will especially appreciate the generously sized master bedrooms, state-of-the-art open-concept kitchens, and scenic balconies. The EC is also set to provide residents with an array of top-notch facilities, including a 50m lap pool, children’s play areas, BBQ pits, function rooms, and a well-equipped gym. Furthermore, there may even be additional features such as tennis courts and co-working spaces, depending on the developer’s final plans. These amenities are tailor-made to foster an active and community-oriented lifestyle, allowing residents to relax and socialize without having to venture far from home. For a truly convenient and enriching living experience, look no further than Sembawang EC at Canberra MRTSembawang Road EC.
In its latest research report released in May, Savills Singapore predicts that the impact of US tariffs will have a significant impact on private residential property sales in the coming months. According to the firm’s executive director of research and consultancy, Alan Cheong, the uncertainty created by the tariff wars may cause homebuyers to adopt a more cautious stance and delay their home purchases. This could potentially lead to a slowdown in new sales in the future.
Even before the tariffs were announced, the private residential market was already showing signs of easing. After a strong rebound in 4Q2024, new launches moderated by 8.4% q-o-q in 1Q2025 and new sales fell by 1.3% q-o-q. At the same time, secondary sales also declined for the second consecutive quarter, dropping by 3.2% q-o-q. As a result, the total non-landed residential sales volume declined for the first time in three quarters, according to Savills.
One key highlight in the report is the decrease in non-landed home purchases by all residency status except for permanent residents (PRs) in 1Q2025. While PRs recorded a 2.1% q-o-q increase in home purchases, Singaporeans saw a 2.6% q-o-q decline – the first fall after four consecutive quarters of increase. Similarly, the number of purchases by foreigners fell by 17.6% q-o-q to 70 units in 1Q2025.
Despite the slowdown in sales, private residential property prices continued to rise in 1Q2025, though at a slower pace of 0.8% q-o-q compared to the 2.3% growth in the previous quarter. According to Savills, this can be attributed to the “store of wealth of the baby boomers” and rising HDB resale prices, which have narrowed the price gap for upgraders.
The firm also notes that while developers’ sales have slowed since April, prices have remained resilient. This is likely due to the upcoming launches of new projects, such as the 525-unit River Green, the 596-unit Promenade Peak, and the 683-unit Marina View Residences in the Core Central Region. Other notable projects include the 937-unit One Marina Gardens in the Rest of Central Region and the 941-unit Springleaf Residence in the Outside Central Region, which are expected to contribute to a faster pace of price growth in the coming quarters.
Savills has maintained its full-year price growth forecast of 7% for this year, barring any market disruptions or new cooling measures implemented by the government. The firm believes that the upcoming new launches have the potential to set new benchmarks in their respective locations, which could further support a faster pace of price growth in the private residential market.