Singapore developers sold 1,575 new private homes in February 2025, excluding executive condominiums (ECs). That was the strongest February result in 13 years, but the headline needs context: two newly launched suburban projects generated most of the transactions.
The total rose 45.4% from 1,083 units in January 2025 and was more than 10 times the 153 units sold in February 2024. According to CNA’s report on the monthly URA figures, the last higher February was in 2012, when developers sold 2,417 units.
What the February developer sales figures show
The February result was unusually concentrated by region. The Outside Central Region (OCR) recorded 1,452 sales, or 92.2% of the national total. The Rest of Central Region (RCR) contributed 98 sales, while the Core Central Region (CCR) accounted for 25.
- OCR: 1,452 units, up from 191 in January
- RCR: 98 units, down from 771 in January
- CCR: 25 units, down from 121 in January
This does not establish a broad shift away from central homes. Monthly regional totals can change sharply when large projects begin sales. January’s mix had been led by the RCR, while February’s two principal launches were both in the OCR. Readers can check project and transaction records through URA’s private residential property data service.
Parktown Residence and Elta drove the 13-year high
Parktown Residence in Tampines sold 1,041 of its 1,193 units during February, equivalent to 87% of the development. Its median transacted price for the month was S$2,363 per square foot (psf). The project is an integrated development linked to retail space, a bus interchange and the future Tampines North MRT station.
Elta in Clementi sold 326 of 501 units, or 65%, at a February median price of S$2,538 psf. Together, Parktown Residence and Elta contributed 1,367 sales—about 86.8% of all new private homes sold that month. Existing projects supplied the remainder; Pinetree Hill, for example, recorded 22 sales.
The factual conclusion is that February had strong take-up at both new projects. A reasonable interpretation is that their locations, available unit mix and the limited recent launch supply in Tampines North and Clementi helped focus demand. It would be premature, however, to infer from one launch-heavy month that demand had strengthened equally across every project, price tier or region.
How February fits into the first-quarter market
February was part of an active first quarter rather than a standalone market measure. URA’s final figures show that developers sold 3,375 private homes excluding ECs in Q1 2025, close to the 3,420 sold in Q4 2024. Developers launched 3,139 units during the quarter, compared with 3,425 in the preceding quarter.
Prices rose at a slower pace even as launch sales remained active. The URA Q1 2025 real estate statistics recorded a 0.8% quarter-on-quarter increase in the overall private residential price index, down from 2.3% in Q4 2024. Non-landed prices increased by 1.0%, with growth of 0.3% in the OCR, 1.7% in the RCR and 0.8% in the CCR.
Those quarterly price indices and February’s sales count measure different things. The index tracks price movements across completed transactions, while monthly developer sales can be dominated by the timing and scale of launches. Our report on the final Q1 2025 private home data explains why the completed quarterly release is more useful than applying a single month’s launch result to the wider market.
Why a sales record is not automatically a price signal
A high sales volume can indicate that buyers accepted the products and prices offered, but it does not by itself prove that island-wide prices were accelerating. February’s concentration matters: removing either major launch would have changed the monthly total substantially. Median psf prices also should not be compared without accounting for unit size, floor, facing, tenure, project design and location.
Supply conditions also remained relevant. At the end of Q1 2025, URA reported 40,721 uncompleted private residential units excluding ECs with planning approvals, of which 19,604 were unsold. Including ECs, about 55,600 private housing units were expected to be completed over the coming years. This pipeline gives buyers alternatives, although availability will vary by location and launch schedule.
In analysis, February demonstrated that a well-received pair of launches could unlock substantial transaction volume. It did not settle whether later projects would achieve similar take-up or whether resale homes would experience the same demand. Indeed, Q1 resale transactions declined to 3,565 from 3,702 in Q4 2024, showing that activity was not uniform across market channels.
What buyers should assess beyond the headline
Buyers comparing a new launch with existing homes should work from the total acquisition cost, not only the psf figure or opening-weekend sales rate. Relevant checks include the purchase price, Buyer’s Stamp Duty, any Additional Buyer’s Stamp Duty, legal fees, expected renovation or furnishing costs, maintenance fees and the timing of progressive payments.
Financing should also be tested against income and existing debt. The Monetary Authority of Singapore’s housing-loan rules explain how the Total Debt Servicing Ratio applies to a borrower’s monthly debt obligations. Passing the regulatory test is not the same as having a comfortable budget, so households should also model higher interest costs, income disruption and delayed sale proceeds from an existing home.
Ownership profile and purchase sequence can materially change stamp duty and financing outcomes. Our guide to Singapore property cooling measures sets out the main ABSD, loan-to-value and debt-servicing checks, but buyers should verify the rules that apply on the date they commit.
A concentrated result with a clear lesson
February 2025 was a 13-year high for that calendar month, supported by 1,575 developer sales excluding ECs. Parktown Residence and Elta were responsible for about 86.8% of the total, and the OCR accounted for 92.2%.
The record therefore says two things at once. It confirms that buyers responded strongly to those launches, while also showing why monthly developer sales should be read alongside project composition, quarterly prices, resale activity and future supply. For buyers, the useful takeaway is not to follow the aggregate number, but to compare the specific home, verified transactions and long-term affordability.
