New home sales volume could hit up to 10,000 units.
The sustained buyer interest in new launches in Q3 2025 has helped to prop up private home prices. Kelvin Fong, CEO of PropNex, notes that they expect the private residential property market to remain positive with modest price upside, particularly for well-located projects.
“For 2025, we project that private home prices may rise by 4% to 5% – close to the 3.9% increase in 2024. Based on URA figures and caveats lodged, developers have sold an estimated more than 3,200 new homes (ex. EC) in Q3 2025 (till 21 Sep), taking the sales this year to over 7,800 units (ex. EC). We believe the new home sales volume could reach 9,000 to 10,000 units (ex. EC),” Fong added.
Here’s more from PropNex:
A key highlight in Q3 2025 is the rebound in the CCR, as three launches – The Robertson Opus, UpperHouse at Orchard Boulevard, and River Green – drove sales. In our view, the CCR remains one to watch in Q4 2025, with the final CCR launch of 2025 coming up.
The 666-unit Skye at Holland is competitively priced with prices of two-bedders starting from around $1.51 million, while prices of the three-bedders start from $2.40 million – which are in the pricing sweet-spot of many prospective homebuyers. The other upcoming launches in Q4 2025, including Penrith (RCR), Faber Residence (OCR), and Zyon Grand (RCR) will also provide more options for homebuyers and property investors.
Of note, about 68% of the new non-landed private homes (ex. EC) sold in Q3 2025 (till 21 Sep) were priced at below $2.5 million. From our observations, buyers are increasingly focused on value, amenity, and convenience. Hence, projects that are attractively priced and have strong transport links will see more robust demand, as seen in Springleaf Residence which sold an impressive 92% of 941 units on its launch weekend in August.
Moving forward, we continue to be optimistic about the private housing market, amid lower interest rates, pipeline of attractive launches, as well as stable homebuying interest among first-timer buyers and HDB upgraders. In September 2025, the US Federal Reserve cut rates for the first time this year, and it is the fourth rate cut after 11 hikes from March 2022. Owing to downside risk to growth and the labour market in the US, some observers expect there may be two further rate cuts by the US Fed in Q4 2025.
We expect the moderation in interest rates to continue to support the property market in Singapore. In a PropNex consumer survey conducted earlier this year, about 55% of the 1,100 respondents said that they are either “motivated” or “very motivated” to purchase a residential property amid lower interest rates. As at 1 October 2025, the 3-Month Compounded SORA (Singapore Overnight Rate Average) – which banks used to price home loan packages – has fallen to about 1.45% p.a. from 3.02% p.a. at the start of 2025.
That said, amidst the rebound in sales and healthy buying interest, the macro environment remains a wildcard, including the US trade tariffs. The support factors for private housing demand and prices in Singapore continue to hinge on a positive economic outlook, tight labour market, and rising household income.”
