Singapore new home sales plunge 88% in September to 255 units

Knight Frank now expects full-year 2025 transactions to exceed 9,000 units.

Singapore’s new private home sales plunged in September 2025, with just 255 units sold—an 88.1% drop from August and 36.4% lower YoY, according to monthly data from both CBRE and Knight Frank.

The decline marked the lowest monthly figure this year and is attributed to seasonal effects from the Seventh Lunar Month and a lack of new project launches.

Despite the steep September slowdown, the third quarter showed strong overall performance. CBRE reported Q3 sales of 3,337 units, significantly higher than Q2’s 1,212.

Year-to-date primary sales reached 7,924 units, already 22.5% above the full-year total in 2024 (6,469 units).

Knight Frank noted the same year-to-date figure and now expects full-year 2025 transactions to exceed 9,000 units, driven by upcoming launches in October and early November.

The broader economic backdrop has also improved, with the Ministry of Trade and Industry recently upgrading Singapore’s GDP growth forecast to 1.5–2.5% for the year.

Regional performance in September was led by the Rest of Central Region (RCR), accounting for 125 units or 49% of sales, followed by the Outside Central Region (OCR) with 84 units (33%), and the Core Central Region (CCR) with 46 units (18%).

By price quantum, the largest segment of buyers or 38% opted for units priced between $3m and $5m, primarily 4–5 bedroom units in city-fringe developments. The next largest segment was in the $1.5m to $2.0m range (20%).

The top-selling projects for the month were Canberra Crescent Residences (28 units at an average of $2,001 psf), Grand Dunman (24 units at $2,508 psf), and River Green (16 units at $3,201 psf).

Knight Frank highlighted a notable rebound in Core Central Region activity in Q3, with 916 transactions compared to just 46 in Q2. Whilst CCR home prices have risen 27% over the past five years, trailing RCR and OCR growth (47% and 46%, respectively), this trend may point to relative value in the prime segment, particularly for freehold properties.

Both reports noted strong post-festival demand. Skye at Holland reportedly sold 658 out of 666 units (around 99%) at an average of $2,953 psf, making it the top-performing project of the year to date and signaling healthy buyer appetite heading into the final quarter.

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