URA Monthly Developer Sales (August 2025)

In a burst of homebuyer activity, developer sales in August erupted into a monthly total of 2,142 (excluding Executive Condominiums (ECs)), a very substantial 127.9% more than the 940 sales in the previous month of July, and 915.2% more than the same period a year ago in August 2024. Developers showed urgency to launch new projects before the Lunar Seventh month started on 23 August, as Artisan 8, Canberra Crescent Residences, Promenade Peak, River Green and Springleaf Residence were introduced.  The top seller during the month was Springleaf Residence that sold 94% or 884 units out of a total of 941 with a median price of S$2,166 psf. This is only the second time in the last 12 months that monthly developer sales crossed the 2,000-mark. November 2024 (2,560 sales) and August 2025 were the only two months since March 2013 (2,793 sales), more than 12 years ago, that developers sold more than 2,000 units within a month.

River Green in the prime Core Central Region (CCR) and the nearby Promenade Peak in the Rest of Central Region (RCR) sold 451 units (86%) and 333 units (56%) respectively in August, even though most of the activity was in the Outside Central Region (OCR) with 1,153 transactions.  Canberra Crescent Residences chalked up 211 sales or 56% of its project total of 376 units. The geographical spread of new unit take up ranged islandwide as homebuyers sought new product in both centrally located and suburban locations.

Local homebuyers supported activity in the prime home market segment, largely for their own occupation and for lease to foreign professionals working in Singapore, as the Additional Buyer’s Stamp Duty (ABSD) for foreign buyers continues to deter demand from non-Singapore residents. New citizens and permanent residents that favour high-rise living have also been acquiring homes in a stable Singapore, against the backdrop of a destabilising global environment. According to the Department of Statistics, there were 23,472 new citizens and 34,491 new permanent residents in 2023, the latest data available.

The recent upward revision of Seller’s Stamp Duty rates and the extension of the holding period to a fourth year did not hinder homebuyers, and in the first eight months of 2025, there is now an estimated 7,669 primary transactions, already falling within the 7,000 to 9,000 range forecasted by Knight Frank earlier this year with four months left to go. Taking into account that sales in September will decline due to most developers not launching projects during the Lunar Seventh month, and in December due to the year-end holidays, most new launches will likely take place in October and November. With August sales clearly showing that the appetite for new homes remains intact, notwithstanding the uncertainty global economy and trade conditions, new home sales should fall at the higher end of the original forecast range, close to or perhaps even moderately surpassing the 9,000-mark