Private home sales slowed in December 2025, reflecting a quieter year-end market shaped by limited new launches and seasonal factors. According to URA data, developers sold 197 new private homes excluding executive condominiums (ECs) during the month, marking the lowest monthly tally since February 2024. When ECs are included, total sales came in at 234 units.
Compared with November, sales fell by 39%, while volumes were also marginally lower than the same period a year earlier. Although the slowdown was notable, it was largely expected. December is typically a softer month, and this time, the effect was amplified by a very thin supply pipeline.
Table of contents
- Few new launches, fewer transactions
- Full-year sales still hit a four-year high
- RCR leads activity despite overall slowdown
- OCR activity supported by landed and mass-market projects
- CCR sees fewer deals but higher price points
- EC sales pick up ahead of new launch
- Buyer profile remains dominated by locals
- What to watch in the months ahead
Few new launches, fewer transactions
One of the clearest reasons for the weaker performance was the lack of fresh inventory. In December, only 52 new units were launched for sale across the entire private residential market, representing a steep drop from the 347 units released in November.
The sole new launch during the month was Pollen Collection II, a 186-unit landed housing project in the Outside Central Region (OCR). All 52 units launched in December came from this development, underlining how quiet the primary market was.
With fewer options available, buyer activity naturally slowed. Many prospective purchasers appeared content to wait for January launches rather than commit during a traditionally
Full-year sales still hit a four-year high
While December figures were softer, Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co, said this was largely due to short-term factors. He noted that while the fourth quarter of 2025 recorded strong take-up rates at new launches, December sales moderated to 197 units, the lowest monthly figure since February 2024, mainly because of the year-end holiday period.
Looking beyond the monthly slowdown, Mr. Luqman said the overall picture for 2025 remained positive. For the full year, developers sold an estimated 10,821 new private homes excluding ECs, marking the strongest annual performance since 2022. He attributed this outperformance to a combination of lower interest rates, pent-up demand, and attractive pricing at sought-after locations, particularly in the Core Central Region, where new launch PSFs and overall price quantums have come close to those seen in the RCR.
He added that despite ongoing global economic uncertainty, including concerns around trade tensions and tariffs, new private homes sold in 2025 still averaged about S$2,622 psf, roughly 6% higher than in 2024. This, he said, suggests that lower interest rates played a stronger role in sustaining buyer appetite, even as prices continued to edge higher.
RCR leads activity despite overall slowdown
In December, the Rest of Central Region (RCR) accounted for the bulk of developer sales, with 110 units sold. This showed that demand in the city-fringe market remained resilient even during a slower month.
The top-performing project was The Continuum, a freehold development along Thiam Siew Avenue. It recorded 31 transactions at a median price of about S$2,498 psf, reflecting sustained buyer interest, particularly in its smaller apartment offerings.
Another contributor was Nava Grove, which moved 15 units at a median price of roughly S$2,641 psf. The project’s performance suggested that demand built up earlier in the year continued to support take-up, even as overall market activity softened.
Elsewhere in the RCR, steady transactions were also recorded at developments such as Bloomsbury Residences, Pinetree Hill, One Marina Gardens, and The Orie. Although volumes were modest, these sales reinforced the role of the RCR as a stable middle ground between affordability and centrality.
OCR activity supported by landed and mass-market projects
Developers sold 67 new private homes in the OCR during December. While this was lower than earlier months, the segment continued to attract buyers looking for larger homes and more accessible price points.
The month’s standout was Pollen Collection II, which sold 17 terrace houses at a median price of about S$2,599 psf. As a landed housing project, its performance stood out in a market dominated by non-landed developments. The take-up suggested that demand for landed homes remains intact when new supply becomes available.
Other OCR projects such as Canberra Crescent Residences, Chuan Park, Lentoria, and The LakeGarden Residences also recorded transactions. Together, these sales pointed to sustained interest in suburban locations, even during a quieter period.
Mr. Luqman Hakim said it remains to be seen whether demand rebounds in January, with upcoming launches such as Newport Residences in the CCR, as well as Narra Residences and Coastal Cabana in the OCR, likely to test buyer sentiment at the start of the year.
Looking for upcoming new launch projects this year? Read more here: Full List of New Condo Launches in 2026
CCR sees fewer deals but higher price points
In the Core Central Region (CCR), developers sold 20 new homes in December, down from 30 units in November. The decline reflected both the limited number of launches and the higher price sensitivity among buyers in the prime segment.
The best-performing CCR project was UpperHouse at Orchard Boulevard, which sold seven units at a median price of about S$3,410 psf. Other transactions were scattered across projects such as River Green, Sanctuary@Newton, and Skye at Holland.
The most expensive transaction of the month was recorded at 21 Anderson, where a large unit of about 4,489 sq ft changed hands for S$23.3 million. While such deals are rare, they underscore that demand for high-end homes persists, albeit selectively.
EC sales pick up ahead of new launch
Executive condominium sales edged higher in December, with 37 units sold compared with the previous month. While overall EC volumes remained modest, the uptick pointed to growing buyer interest ahead of upcoming launches.
Otto Place EC led the segment with 28 units sold at a median price of about S$1,751 psf. Meanwhile, projects such as Aurelle of Tampines and Novo Place also saw transactions.
By the end of December, there were only 17 unsold new EC units available across the market, indicating a tight supply situation. This sets the stage for strong demand when Coastal Cabana enters the market in January.
Buyer profile remains dominated by locals
Local buyers continued to anchor the market. Singaporeans accounted for about 84.6% of new non-landed private home purchases in December, while permanent residents made up 13.7%. Foreign buyers represented just 1.6% of transactions.
Only three purchases by foreigners were recorded during the month, compared with 10 in November. For the full year, foreign buyers accounted for about 1.4% of total transactions, similar to 2024 levels.
This trend highlights how the private residential market remains primarily driven by domestic demand, particularly from owner-occupiers and HDB upgraders.
What to watch in the months ahead
Although December ended on a softer note, the pipeline for early 2026 looks more active. Several major projects across the OCR, RCR, CCR, and EC segments are slated for launch. At the same time, interest rate expectations have stabilised, which could lead to a steadier market environment.
Based on current conditions, developer sales in 2026 are likely to remain supported by Singaporean buyers, with pricing strategies expected to stay competitive amid ongoing affordability concerns.
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