Singapore luxury home sales rebound 44.6% in Q1

The number of transactions in this segment also climbed significantly, reaching 143 units in Q1.

Singapore’s luxury property market recorded a sharp rebound in the first quarter of 2025, with total transaction value for private homes priced above $5m in the Core Central Region (CCR) rising 44.6% QoQ to $1.37b, according to OrangeTee & Tie’s Luxury Market Report Q1 2025.

The number of transactions in this segment also climbed significantly, reaching 143 units in Q1, up 43% from 100 units in Q4 2024. This represents the highest quarterly sales volume since Q4 2023, which saw 150 transactions.

Of the 143 transactions, 88 involved non-landed homes, up from 63 units in the previous quarter, whilst landed home transactions rose to 55 units from 37 units previously. Resale transactions made up the majority with 119 units, followed by 23 new sales and one sub-sale.

The surge in luxury sales also extended to the super luxury segment, with 17 condominium units in CCR sold for over $10m in Q1 2025.

This matches the previous high recorded in Q2 2023. Amongst these transactions, six were new sales from projects including One Bernam, 32 Gilstead, and Park Nova, while 11 were resale units.

The most expensive super luxury condo sale in the first quarter was a 5,899-square-foot unit on the 20th floor of Park Nova, which transacted at $38.888m, or S$6,593 per square foot.

This represents the second-highest price per square foot ever recorded, following the $6,650 psf transaction at The Marq on Paterson Hill in 2011.

Good Class Bungalow (GCB) activity, however, slowed during the quarter. Only two GCBs were sold in Q1 2025, compared to 12 units in Q3 2024 and seven in Q4 2024.

The two transactions involved a unit at Leedon Park sold for $45.8m (S$2,929 psf) and another at Gallop Park for $58m (S$3,557 psf). Notable earlier transactions included a $93.9m sale at Tanglin Hill and two adjoining properties on Belmont Road that fetched $131m.