Developers’ Sales Surge 2142 Units August New Launches
Transacted price of 4-bedder at RiverGreen falls 14.8% from 2021 peak
According to data released by URA on September 15, there was a noteworthy increase in new home sales in August, with developers selling 2,142 private homes, excluding executive condos (ECs). This marks a 128% surge from the 940 units sold in July and marks the highest monthly sales recorded in 2025. This also marks the strongest August sales since 2007, when monthly developer sales data became available. Christine Sun, Chief Researcher and Strategist at OrangeTee-Realion, notes that this is the second consecutive monthly increase in new home sales.
On a year-on-year basis, developer sales were over ten times higher compared to August 2024, where only 211 units were sold. The spike in August sales can be attributed to a series of new launches that took place in the first half of the month. “Keen to take advantage of the positive sales momentum and to avoid the Lunar Seventh Month, which started on August 23, developers launched five projects for sale in August 2025,” says Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia.
Among the five projects launched were Spingleaf Residence, River Green, Promenade Peak, Canberra Crescent Residences, and Artisan 8. These projects contributed to the surge in units launched for sale in August, with a total of 2,496 units, a 49% increase from the previous month. Mohan Sandrasegeran, Head of Research and Data Analytics at Singapore Realtors Inc (SRI), also notes that the last time monthly sales crossed the 2,000-unit mark was in November 2024, when five projects were launched. This trend continued in March 2013.
In the EC market, developers sold 196 units in August, primarily driven by the second ballot at Otto Place, a 600-unit development in Tengah. The top-selling project for last month was the largest project to launch, Spingleaf Residence, which moved 884 units in the Outside Central Region (OCR) at a median price of $2,166 psf. Along with Canberra Crescent Residences, which sold 211 units at a median price of $1,991 psf, OCR had the highest number of new homes sold in August, at 1,153 units.
River Green, a 524-unit project in the Core Central Region (CCR), saw the sale of 451 units at a median price of $3,111 psf, the highest number of new homes sold in CCR since March 2021, when 546 units were sold with the launch of Midtown Modern, notes Marcus Chu, CEO of ERA Singapore. “August saw the launch of two projects in the River Valley-Zion Road area, providing more options to buyers and rekindling interest in the location,” he adds.
Promenade Peak, located in District 3 within the Rest of Central Region (RCR), sold 333 units at a median price of $2,919 psf last month, making it the best-selling project in RCR, which sold a total of 476 units in August. According to Wong Siew Ying, Head of Research and Content at PropNex Realty, the CCR demand has been strengthening over the last two months, with new launches such as River Green, Upperhouse at Orchard Boulevard, and The Robertson Opus. “With a total of 870 units sold in July and August, the CCR is expected to achieve its strongest quarterly sales in Q3 2025 since 994 units were sold in Q4 2010,” she predicts.
While attractive new launches and resilient demand have helped drive sales in the CCR, Wong believes that buyers have also perceived the pricing of recent launches in the region as good value. “According to URA Realis caveat data, the median transacted price of new non-landed private homes in August was $1.89 million in the CCR, compared to $2.22 million in RCR, and $1.72 million (excluding ECs) in OCR,” she adds.
The luxury market saw a slight dip in activity in August, with a total of 22 new non-landed homes sold between $5 million and $10 million, down from 28 units in July. Two new private non-landed homes also sold for over $10 million, with both units from 21 Anderson, Kheng Leong Co’s ultra-luxury condo on Anderson Road. The most expensive unit sold was the remaining 10,452 sq ft duplex penthouse for $52.25 million ($4,999 psf), while the other was a four-bedroom unit sold for $21.06 million ($4,692 psf). According to Lee Sze Teck, both units were purchased by a Permanent Resident and a Singaporean, respectively.
In August, Singaporeans accounted for 90.6% of private home buyers, followed by Permanent Residents at 8%. Foreign buyers contributed to 30 new home sales (1.4%) in August, nearly doubling from the 16 recorded in July. “River Green saw 11 purchases by foreigners, while Promenade Peak and Springleaf Residence each sold four units to foreign buyers,” Lee says.
Taking into account the August figures, developers have already sold 7,669 new homes, excluding ECs, in the first eight months of 2025. This has already surpassed the annual sales over the last three years, including the 6,469 units transacted in 2024, according to Wong Siew Ying from PropNex. “For the whole of 2025, PropNex expects 9,000 to 10,000 new private homes (excluding ECs) may be transacted, up from our earlier sales forecast of 8,000 to 9,000 units,” she adds.
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Wong also notes that developer sales indicate a “sweet spot” for private condos priced between $1.5 million and $2.5 million. Based on caveat data, 79% of the units sold at the five new launches in August were priced below $2.5 million, while the median transacted price of all non-landed new private homes, excluding ECs, in the first eight months of the year was $2.01 million, slightly lower than the $2.09 million for the whole of 2025.
Looking ahead, Wong predicts that developers’ pricing strategy for new launches will be focused on quantum play, keeping a substantial portion of units within the “pricing sweet spot.” However, sales in September are expected to be muted due to the Lunar Seventh Month, which will end on September 21. “Sales in September are likely to be between 200 to 250 units due to a lack of project launches,” estimates Lee Sze Teck from Huttons.
Activity is expected to pick up in the fourth quarter, with developers likely to launch new projects in October and November, ahead of the year-end holidays in December, according to Leonard Tay, Head of Research at Knight Frank Singapore. Upcoming projects to be launched in the fourth quarter include a mix of RCR, CCR, and OCR developments, as noted by Wong Siew Ying. Among these are Penrith on Margaret Drive, Zyon Grand on Zion Road, and Skye at Holland on Holland Drive, which will offer over 2,500 new units across the three sub-markets, appealing to various potential buyers, including HDB upgraders.