New home sales sink 39.4% on December launch drought: ERA

Absence of new launches led to just 197 sales whilst one deal carried a $23.3m price tag.

New private home sales in Singapore fell sharply in December 2025 as the absence of new launches weighed on activity, according to ERA.

Developers sold 197 new private homes excluding executive condominiums (ECs) in December, down 39.4% MoM. ERA attributed the decline mainly to the lack of new project launches during the month, compared with one launch in November and four in October.

Despite the weak December showing, ERA said full-year sales remained strong. A total of 2,946 new homes were sold in the fourth quarter, bringing 2025 sales of private non-landed homes to 10,951 units, the highest annual total since 2021.

With no new launches in December, sales were led by existing projects. The Continuum topped the list with 31 units sold, followed by Nava Grove with 15 units, and Pinetree Hill and Canberra Crescent Residences with eight units each.

The Rest of Central Region (RCR) dominated activity, accounting for 110 units or 55.8% of December sales, with five of the top six projects located in the RCR.

ERA noted that District 15, where The Continuum is located, has limited unsold stock of about 417 units and no upcoming launches. The project’s median price in December was $2,498 psf, below both its November median and the overall RCR median of $2,613 psf.

Activity was also observed in District 21, where ERA highlighted The Sen as a relatively lower-priced option at $2,341 psf. With only four RCR launches expected next year, ERA said demand could continue to be channelled towards existing projects.

In the EC segment, 37 units were sold in December, up 76.2% MoM, with Otto Place accounting for most of the transactions.

ERA said all existing EC stock has now been cleared islandwide, pointing to upcoming launches in 2026 including the 748-unit Coastal Cabana and the 560-unit Rivelle Tampines.

Singaporeans made up the bulk of buyers in December, accounting for 88.1% of new non-landed home sales excluding ECs, whilst permanent residents accounted for 10.6% and foreigners 1.3%.

Luxury activity eased, with five transactions above $5m recorded during the month, including one deal above $20m– a $23.3m purchase at 21 Anderson by a foreign buyer.

Looking ahead, ERA projects between 9,000 and 10,000 new home sales in 2026, supported by a pipeline of 19 private residential projects and five EC launches.

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