New home sales crash 39% as launch pipeline dries up

Full-year sales still climbed 67.3% to 10,821 units in 2025, the highest since 2021.

New private home sales in Singapore fell to their lowest monthly level of 2025 in December, weighed down by the year-end holiday lull and a lack of major project launches, according to data and market commentaries released this week.

Developers sold 197 new private homes excluding executive condominiums (ECs) in December, down 39.4% MoM from 325 units in November and 3% lower than a year earlier.

This was the weakest monthly performance since February 2024. Only one project, the 186-unit landed development Pollen Collection II, was launched during the month, contributing to total launches of just 52 units.

Despite the weak December showing, full-year new private home sales excluding ECs reached 10,821 units in 2025, up 67.3% from 2024 and the highest annual total since 2021.

Analysts attributed the stronger full-year performance to lower interest rates, pent-up demand, and several large launches earlier in the year.

By market segment, the Rest of Central Region (RCR) led December sales with 110 units, followed by the Outside Central Region (OCR) at 67 units and the Core Central Region (CCR) at 20 units.

The Continuum was the top-selling project of the month with 31 units sold, supported by promotional pricing, whilst Pollen Collection II sold 17 units. The priciest transaction recorded in December was a 4,489-sq-ft unit at 21 Anderson, which sold for $23.3m.

Looking ahead, analysts expect sentiment to remain broadly stable in 2026 but caution that volumes could ease due to a thinner launch pipeline.

CBRE forecasts between 7,500 and 8,500 new homes to be sold next year, excluding ECs, whilst PropNex and Realion project sales in the range of about 8,000 to 9,500 units.

Price growth is expected to be modest, generally in the low single-digit range, according to the agencies.