How did Singapore’s property market go from a record‑high annual sales volume to a December slump that left only 197 new private homes sold, the fewest since February 2024? The numbers tell a story of contrast: while 2025 saw a total of about 10,821 new private homes change hands, a 67 % rise over 2024 and the highest four‑year total, the month‑end figures fell sharply.
Record‑high 2025 sales contrast with December’s 197‑unit slump, the lowest since February 2024.
December’s sales were 3 % lower than the same month a year earlier and 39 % down from November’s 325 units, a dip that analysts attribute mainly to the seasonal lull that typically slows buyer activity at year‑end.
Supply constraints amplified the slowdown. Only one new project, Pollen Collection II with 186 units, launched in December, delivering just 52 units to the market—85 % fewer than the 347 units released in November.
By contrast, January 2026 exploded with 1,534 units, fifteen times the December figure, thanks to Narra Residences (540 units) and Newport Residences (246 units). The overall 2025 launch volume remained below 2024 levels, tightening the pool of fresh inventory and keeping median prices buoyant across regions. Analysts note that builder community counts rose for ten consecutive months through late 2025, reflecting sustained developer confidence even as monthly sales fluctuated.
Geographically, the Rest of Central Region (RCR) dominated December sales, accounting for 110 of the 197 units, with The Continuum leading at 31 units and a median price of $2,498 psf.
The Outside Central Region (OCR) contributed 67 units, driven largely by Pollen Collection II’s 17 terrace houses priced at $2,599 psf.
The Core Central Region (CCR) saw 20 units sold, UpperHouse topping the list with seven units at $3,410 psf. Newport Residences, priced at $3,070 psf, attracted a strong Singaporean buyer base (82.6 %) and is expected to lift OCR sales in January.
Buyer demographics reveal a preference for smaller units in RCR, where most purchases were around 560 sq ft, while Narra Residences attracted roughly 80 % of buyers purchasing units at S$2 million or less.
Executive Condominiums, despite the overall slowdown, still moved 37 units in December. The highest‑priced private home that month was a 4,489 sq ft unit at 21 Anderson, fetching $23.3 million.
Looking ahead, PropNex forecasts a rebound in OCR sales with the Narra launch, and CCR is set to benefit from Newport’s weekend rollout. Analysts point to competitive pricing and a moderate interest‑rate environment as key drivers, while acknowledging that the December dip was largely seasonal.
Continued supply constraints could keep median prices elevated, but the surge in January launches suggests the market may recover in early 2026, balancing the dramatic fall seen in December. The 2025 annual total including December is estimated at 10,821 new private homes sold. 15‑times the December launch volume.
