October 2025 emerged as a standout month for Singapore’s new private home market, delivering one of the strongest sales performances seen this year. Developers moved 2,424 units (excluding ECs), marking a sharp rebound from September’s quieter showing and reinforcing the solid momentum already established in August.
The surge was driven by a rare combination of major project launches, well-calibrated pricing, and more favourable borrowing conditions – factors that aligned neatly to bring buyers back into the market.
Table of contents
- A strong surge in new private home sales
- Launch and sales figures including ECs
- Sales by market segment: CCR, RCR, and OCR
- Executive condo market in October
- Key drivers of demand
- How pricing shaped October’s buyer decisions
- Attractive price points across major launches
- Buyer demographics
- Outlook for the months ahead
A strong surge in new private home sales
October 2025 proved to be one of the most significant months in the year’s new-launch market. Developers sold 2,424 private homes excluding executive condominiums, and this figure was more than triple the 748 units sold in October 2024. The jump from the previous month was even more dramatic. Only 255 units were transacted in September, which meant sales in October were almost nine times higher. It was also the strongest sales month seen since November 2024, when 2,560 units changed hands.
Across the first ten months of 2025, new private home sales reached 10,299 units (excluding ECs). This marked the first time since 2021 that sales crossed the 10,000-unit threshold, highlighting how demand had gradually rebuilt throughout the year, even before October’s surge.
Launch and sales figures including ECs
When ECs were included, October recorded 2,446 homes sold and 2,233 units launched. This stood in sharp contrast to October 2024, when developers moved just 776 units and released 534 new homes. The higher number of launches in October 2025 reflected stronger developer confidence, while the quick absorption rate showed that buyers were ready to respond to a wider range of new offerings.
Sales by market segment: CCR, RCR, and OCR
In the Rest of Central Region (RCR), sales reached 1,225 units, accounting for about half of October’s total volume. This was the region’s strongest result since November 2024. Much of the demand centred on two major projects: Zyon Grand, which moved 595 units at a median price of about S$3,038 psf, and Penrith, which sold 446 units at roughly S$2,791 psf. Both sit in popular city-fringe neighbourhoods, offering strong convenience without Core Central Region prices. However, activity in the RCR is expected to ease in November, as only one notable project, The Sen, will be launched.
Interested in The Sen? Here’s a deep dive on its prices and potential for growth: The Sen sells 23% at an average of S$2,358 psf – Should buyers take a second look?
The Core Central Region (CCR) also delivered an extraordinary month, with 724 new home sales – the highest monthly tally since the URA began releasing monthly data in 2007. The standout was Skye at Holland, which saw 662 out of its 666 units sold at around S$2,949 psf. Other ongoing CCR developments such as The Robertson Opus, River Green, and UpperHouse also supported the region’s results. Although CCR projects typically sit at higher price points, October showed strong willingness among buyers to enter when homes were positioned and priced thoughtfully.
The Outside Central Region (OCR) recorded 475 new private home sales, rebounding sharply from September’s 84-unit performance. OCR projects generally attract buyers seeking more accessible price points, and Faber Residence led the segment with 348 units sold at about S$2,149 psf. Overall, the OCR represented close to one-fifth of all new home transactions in October, driven by demand for suburban homes with balanced pricing and usable layouts.
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Executive condo market in October
The EC market remained stable, with 22 units sold in October. Otto Place EC accounted for 21 of these transactions. A notable trend here was the increasingly limited supply: only 53 unsold EC units remained across all existing projects. This low inventory placed EC developers in a favourable position for 2026, especially with ongoing interest from buyers seeking a hybrid public–private option.
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Key drivers of demand
Several factors came together to shape the strong surge in October’s performance.
Kelvin Fong, CEO of PropNex, noted that the four major launches of the month achieved exceptional take-up rates ranging from 84% to 99%. This indicated that buyers responded decisively when projects were strategically located, sensibly priced, and backed by reliable developers. Homes located near MRT stations continued to draw steady interest, as did developments positioned at price points viewed as fair for their size and location. Growing attention toward CCR homes was also evident, partly due to the narrowing price gap between the CCR and RCR, which made central-region properties appear more attainable.
Beyond project-specific strengths, market conditions also played a major role.
Attractive pricing across new launches encouraged buyers who had been waiting earlier in the year. Interest rates had also softened significantly, with local borrowing costs falling below the 2% mark. This offered immediate relief to monthly mortgage obligations and renewed confidence among both owner-occupiers and investors.
Economic conditions improved steadily as well, contributing to stronger financial sentiment. Liquidity remained high, and the decision by the US Federal Reserve to cut rates in September 2025 filtered into Singapore’s financial markets, making borrowing cheaper. Together, these factors created a supportive environment that encouraged more decisive buying behaviour.
How pricing shaped October’s buyer decisions
Price trends across the regions from January to October 2025 also shed light on shifting buyer behaviour. Median prices in the CCR hovered around S$2,962 psf, while the RCR reached roughly S$2,898 psf. The OCR remained more stable, at about S$2,108 psf.
The most notable insight came from the narrowing price gap between the CCR and RCR, which tightened to around 2.2% in October. This smaller difference made some central-region projects appear more attractive, contributing to the strong response seen in developments such as Skye at Holland.
Attractive price points across major launches
| Price range | Faber Residence | Penrith | Skye at Holland | Zyon Grand |
| S$1 mil to <S$1.5 mil | 23.1% | 0.4% | 0.0% | 5.2% |
| S$1.5 mil to <S$2 mil | 42.7% | 29.6% | 26.0% | 16.1% |
| S$2 mil to <S$2.5 mil | 25.1% | 28.9% | 32.2% | 27.9% |
| S$2.5 mil to <S$3 mil | 7.5% | 11.9% | 11.6% | 19.0% |
| S$3 mil to <S$3.5 mil | 1.7% | 19.7% | 10.9% | 13.6% |
| S$3.5 mil to <S$4 mil | 0.0% | 9.4% | 8.8% | 5.2% |
| S$4 mil to <S$5 mil | 0.0% | 0.0% | 6.2% | 11.9% |
| S$5 mil to <S$10 mil | 0.0% | 0.0% | 4.4% | 0.8% |
| S$10 mil and above | 0.0% | 0.0% | 0.0% | 0.2% |
| Total | 100% | 100% | 100% | 100% |
| Proportion below S$2.5 mil | 90.8% | 59.0% | 58.2% | 49.2% |
As mentioned earlier, more affordable new launches played a major role in supporting October’s strong sales. A significant share of units released during the month were priced below S$2.5 million, which created a natural pull for buyers looking for value without compromising on location or layout.
Faber Residence had roughly 91% of its units fall under the S$2.5 million threshold, while about 60% of both Penrith and Skye at Holland’s units were similarly priced. Zyon Grand also offered a substantial number of units within this range, with close to half of its homes below S$2.5 million.
These accessible price points broadened the pool of potential buyers, particularly among those upgrading from smaller homes or seeking long-term investment opportunities.
Buyer demographics
Local buyers remained the main group driving sales. Singaporeans made up about 86.7% of all new non-landed private home purchases in October, while permanent residents accounted for around 12%. Foreigners represented a small share at 1.3%, though transactions were still recorded across several projects in both the RCR and CCR. This aligns with the broader trend of strong domestic demand forming the backbone of the new-launch market.
Outlook for the months ahead
Looking ahead to November, sales are expected to ease as only one project, The Sen, is slated for launch. With fewer options available, overall transaction numbers may slow compared to the momentum seen in October.
However, industry watchers anticipate a more active first quarter of 2026, as developers prepare to release a wider lineup of projects across several regions. With interest rates stabilising, buyer confidence improving, and developers becoming more calibrated in their pricing strategies, the start of 2026 could bring renewed strength to the new-home market.
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