Strata office deals hit record sales despite 5.2% value decline

H2 sales value dropped 51.7% as average prices fell 20.7%.

Singapore’s strata office market closed 2025 with 354 units sold for a total sales value of $1.1b, marking a record year for transaction volume even as sales value declined 5.2% from $1.2b in 2024, according to a report by Knight Frank.

Market momentum weakened significantly in the second half of the year. Strata office sales value fell 51.7% to $355.8m in H2 2025 from $736.4m in H1 2025, whilst transaction volume declined 14.7% over six months to 163 units. Average unit prices dropped 20.7% to $2,224 per square foot (psf) in H2 2025 from $2,805 psf in the first half, Knight Frank reported.

2025 recorded the highest number of strata office transactions on record, exceeding the previous peak in 2014, when 515 units were transacted for a total sales value of $1.7b, the consultancy said.

Demand in H2 2025 remained concentrated in the Central Business District and city-fringe locations with strong transport connectivity. The Downtown Core Planning Area led activity with 40 units sold for $123.0m, mainly comprising leasehold strata offices with at least 42 years of remaining tenure.

Outram followed with 24 transactions valued at $23.1m, driven largely by the sale of 16 units at Manhattan House in July 2025, whilst Geylang ranked third with 23 units transacted for $34.9m, most of which came from deals at Paya Lebar Square, according to the report.

High-value transactions in the second half were led by three strata office units at Suntec Tower One, which sold collectively for $34.0m at a unit price of $3,364 psf. Two multi-unit transactions at Vision Exchange also ranked among the largest deals, with prices ranging from $13.6m to $20.5m and unit prices between $1,903 psf and $2,324 psf, Knight Frank said.

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