Residential Market Update Q1 2025

Key Highlights

• The strong new sales momentum in Q4 2024 spilled over into the first quarter of 2025 as the launch of several new projects continued to record moderate to robust sales during their respective launch weekends. New sales totalled 3,310 in Q1 2025, just slightly under the 3,368 sales recorded in Q4 2024.
   
• New sale transactions in the CCR rose 41.2% q-o-q to 185 in Q1 2025, with the increase backed by One Bernam which reportedly sold 99 units. With two new launches during the quarter against four in the previous one, new sales volume for non-landed homes in the RCR declined 49.7% q-o-q to 926 in Q1 2025. Despite the OCR being the most active region in the quarter, the price index for non-landed homes increased by a marginal 0.3% q-o-q in Q1 2025. On a yearly basis, prices rose 3.8%.
   
• Knight Frank projects that new home sales in 2025 will likely fall in the higher end of the forecast range of between 7,000 and 9,000 units so long as additional cooling measures are not announced. This will likely result in a total of 19,000 to 23,000 units non-landed residential transactions in 2025 with prices anticipated to rise by 3% to 5%.
   

Read full report here.