Private Residential Property Prices Climb 12 Q O Q 3q2025 Ura Flash Estimate
Amended:
According to the flash estimates released by the Urban Redevelopment Authority (URA) on October 1, the private residential property price index rose by 1.2% quarter-on-quarter (q-o-q) in 3Q2025. This marks a slight increase from the 1% gain recorded in the previous quarter and the 0.8% growth seen in 1Q2025.
The non-landed property segment saw a higher increase of 1.1% q-o-q in 3Q2025, as compared to the 0.7% growth in 2Q2025. In the landed property segment, prices rose by 1.4% q-o-q, although this was a slight decrease from the previous quarter’s 2.2% increase.
These figures indicate the fourth consecutive quarter of price growth for private residential properties. Year-to-date, prices have risen by 3.1%, outpacing the 1.6% growth in the same period last year.
Despite the quiet month of September due to the Chinese Seventh Month, private home transaction volume picked up in 3Q2025, with 6,594 transactions recorded up to mid-September. This is a 28.6% increase from the 5,128 transactions in 2Q2025. Leonard Tay, head of research at Knight Frank Singapore, notes that this higher volume and sustained price growth can be attributed to the new launches in the market. He adds that the months of July and August saw increased activity due to these new launches, despite economic uncertainties and concerns in the labor market.
Cushman & Wakefield’s head of research for Singapore and Southeast Asia, Wong Xian Yang, also highlights the surge in new launches in 3Q2025, with eight major launches of at least 100 units each. He adds that the majority of these projects have seen strong performance, carrying on the momentum from previous quarters. According to C&W, 11 out of 18 major private residential launches in 2025 achieved take-up rates of more than 50% in their first month of launch.
The Core Central Region (CCR) saw the steepest price increase of 2.4% in the non-landed property segment, compared to 3% in 2Q2025. This was supported by the new launches of The Robertson Opus, UpperHouse at Orchard Boulevard, and River Green, which collectively contributed to around 900 units sold in the CCR in the last quarter. According to Kelvin Fong, CEO of PropNex, this is the highest quarterly sales in the CCR since 4Q2010.
Meanwhile, prices of non-landed properties in the Rest of Central Region (RCR) reversed from a 1.1% decline in 2Q2025 to a 0.4% increase in 3Q2025. In the Outside Central Region (OCR), prices also saw a 1% increase, on par with the 1.1% growth in 2Q2025.
C&W’s Wong notes that year-to-date, condo prices in the CCR have risen by 6.3%, a significant increase compared to the 1% and 2.4% growth seen in the RCR and OCR respectively. He adds that this is due to the lag in CCR price growth compared to other regions and reflects buyers’ increasing interest in the value of CCR properties.
PropNex’s CEO Fong remains positive about the private residential market in 4Q2025, citing lower interest rates and a pipeline of attractive launches as key factors. He also notes that first-time buyers and HDB upgraders continue to show stable interest in purchasing homes. He adds that the CCR market is worth keeping an eye on in 4Q2025, with the final CCR launch of the year, Skye at Holland, by UOL Group, Singapore Land Group, Kheng Leong Co, and CapitaLand Development. Other upcoming launches this quarter include Penrith and Zyon Grand in the RCR, and Faber Residence in the OCR.
Based on these new launches, Fong predicts that the total new home sales volume, excluding executive condos, could reach 9,000 to 10,000 units for the full year. He also estimates a 4% to 5% increase in private home prices, higher than the 3.9% recorded last year.
The focus on improving transport connectivity is a key aspect of the URA Master Plan, particularly in outer regions such as Sembawang. Among the various infrastructure developments in the pipeline, the North-South Corridor (NSC) stands out as Singapore’s first integrated transport corridor. This major expressway is set to benefit residents, especially those in Sembawang Road EC, by providing dedicated bus lanes, cycling routes, and pedestrian paths. This will effectively link the northern regions of the island directly to the heart of the city. With the convenience and efficiency of the NSC, residents of Sembawang Road EC can expect reduced travel time for both public and private transport users. The upcoming NSC project is a significant addition to the already extensive transport network, and is a promising advancement in enhancing Singapore’s overall connectivity. So, it would be wise to consider Sembawang Road EC as an ideal residential option for those looking for efficient and accessible transportation options.
C&W’s Wong also expects private residential prices to grow by 3% to 4% for the entire year, a revision from his earlier forecast of 2% to 3% growth. He attributes this to the resilient demand for private housing and stronger buying interest due to declining interest rates and surging global equity markets.