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More launches, lower rates to drive 2025 housing market

Analysts are expecting between 8,000 to 14,000 units to be launched this year.

Analysts are expecting more launches this year after buying appetite returned in Q4 2024 amidst lower mortgage rates, following a 92% plunge in sales in December.

Chia Siew Chuin, Head of Residential Research, Research & Consultancy at JLL said that Singapore's private residential property market is poised for growth in 2025, driven by improved market sentiment since Q3 2024, favourable economic conditions, moderated interest rates, and healthy household balance sheets. Additional factors supporting this outlook include low unemployment, sustained demand from public flat upgraders, rising public flat resale prices, and a strong pipeline of project launches.

“Attractive pricing remains key to driving sales. Developers have some pricing flexibility due to lower land acquisition costs in 2023,” Chia said.

Christine Sun, Chief Researcher & Strategist at OrangeTee said they anticipate a higher number of new homes being sold in 2025 fueled by a rise in new project launches.

“As around 23 projects may be launched in 2025, this could potentially introduce over 10,000 new homes, excluding ECs, to the primary market. This is up from 6,647 launched units and 22 new project launches in 2024,” Sun said.  

Tricia Song, CBRE Head of Research, Singapore and Southeast Asia agreed, adding that attractive projects anticipated in Q1 include The Orie (777 units) at Lorong 1 Toa Payoh set to launch over the 18 Jan 2025 launch weekend, Elta (501 units) at Clementi Avenue 1 and ParkTown Residence (1193 units) at Tampines Avenue 11.

“These 3 projects could see robust pent-up demand from the lack of supply in their respective neighbourhoods,” Song said.

Meanwhile, Huttons predicts that sales in January 2025 will be bumped up to between 700 and 900 units with the launch of Bagnall Haus and The Orie.

Prices in the property market are expected to increase by a median range of 3% to 6%, based on common estimates from analysts.

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