Private home prices set to rise with stronger H2 outlook: analysts

Across the board, analysts agree that despite short-term caution, market fundamentals remain strong.

Singapore’s private residential market may have cooled in Q2, but analysts remain cautiously optimistic about the outlook for the rest of the year.

Huttons CEO Mark Yip sees brighter sentiment ahead if US-China trade talks conclude positively. He forecasts 7,500 to 8,500 units sold in H2 and expects full-year price growth of 4–7%, driven by renewed confidence and sustained demand for quality projects.

Realion Group’s Christine Sun anticipates further moderation in price growth, but believes the recent interest rate drop (–19.2% in Q2) could boost affordability and bring first-time buyers back into the market. She notes that a rebound is likely if macroeconomic conditions improve.

Cushman & Wakefield’s Wong Xian Yang projects 2–3% price growth for 2025, citing buyer caution amid global risks and cooling measures. However, he expects fundamentals — including low unemployment and strong household balance sheets — to support stability.

CBRE’s Tricia Song maintains a 3–4% price growth forecast, even as new home sales slumped 66.5% in Q2. She cautions that downside risks remain, but expects demand to hold in well-located, realistically priced projects.

PropNex CEO Ismail Gafoor echoed the sentiment, calling the slowdown a “healthier, more sustainable” trend. With 67% of new homes sold below $2.5 million, affordability will remain key. PropNex expects up to 9,000 new private home sales in 2025 and 3–4% price growth, assuming stable conditions and a pick-up in Q3 launches.

Across the board, analysts agree that despite short-term caution, market fundamentals remain strong, and buyers are watching closely for the right moment to re-enter.

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