In a remarkable display of market resilience, developer sales in February 2025 soared to their highest level in thirteen years, reflecting a compelling mix of pent-up demand and strategic new launches. A total of 1,575 new private homes were sold, excluding executive condominiums, marking a notable increase of 45.4% from January 2025. This impressive figure stands in sharp contrast to the mere 153 units sold during the same month in 2024, highlighting a significant recovery in buyer enthusiasm. New private home sales in Singapore reached a 13-year February high.
When examining the regional breakdown, the majority of sales occurred outside the central region, with 1,452 units sold in suburban areas. This trend of suburban dominance can be attributed to recent new launches like Parktown Residence and Elta, both of which have attracted considerable buyer interest. In fact, Parktown Residence alone accounted for 1,041 units sold, representing a remarkable 87% of its total units, thanks largely to its attractive median price of S$2,363 per square foot and its integrated development features, including direct MRT access.
Elta, another recent launch, proved popular as well, with approximately 65% of units sold, especially the highly sought-after two-bedroom apartments. Located conveniently near schools and the Clementi town center, it has become a favorite among buyers looking for accessible and modern living spaces. The introduction of Deferred Payment Schemes may have contributed to the increased market activity by enhancing access to previously unaffordable real estate opportunities. Interestingly, this strong demand for suburban homes aligns with the fact that active homes for sale nationwide have increased by 27.5% year-over-year, showcasing a broader trend in buyer preferences.
Despite high interest rates, market sentiment remained robust, fueled by the unique characteristics of these developments and a lack of new supply in the past five years. The appetite for suburban living continues to grow, especially among HDB upgraders, leading to a strong future outlook. With more launches anticipated, the market momentum looks promising, potentially sparking price growth in these regions. Though economic uncertainties loom, the resilience of the developer sales landscape offers a glimmer of optimism for both buyers and real estate investors alike.
