Although the broader economy remains cautious, Singapore’s property investment market shifted up a gear in Q3 2025, chalking up S$10.5 billion in sales on the back of vigorous government land sales and renewed Reit buying. The quarter ranked among the strongest since the pandemic, suggesting investors still see Singapore real estate as a safe, well-managed place to park capital.
Momentum was broad-based, though two engines stood out: developers competing for government land, and Reits returning to the acquisition trail.
Government Land Sales accounted for over 40% of total investment sales in the quarter, a clear sign that developers were keen to secure pipeline sites. Most plots released were absorbed, pointing to confidence in future launches and a desire to maintain healthy land banks.
The confirmed list for H2 2025 is set to deliver more than 4,700 private residential units, bringing 2025’s potential GLS supply close to 10,000 units, about 50% above historical annual averages. That scale has helped keep land prices resilient, which in turn supports overall asset values, a virtuous loop many market watchers appreciate.
Reits were equally busy, actively acquiring prime office, retail, and industrial assets, often with value-add angles in core districts. They focused on high-occupancy properties with steady income, a reminder that yield and stability still matter.
Their activity helped offset softer institutional demand in residential and hospitality segments, keeping the deal pipeline moving and liquidity healthy. Foreign institutions also stayed engaged, especially in quality commercial and logistics assets, reinforcing Singapore’s global appeal. Foreign demand remains subdued due to ABSD hikes, with foreign purchases at 2% of new sales and 1.4% of resales.
Prices in the private residential market continued to edge higher. The overall private residential property price index rose 1.2% in Q3 after a 1.0% gain in Q2. This aligns with the roughly 1.0% quarterly increases observed over the past three quarters, indicating sustained demand despite uncertainties. Non-landed prices were up 1.1% quarter-on-quarter, led by the Core Central Region, which climbed 2.4%.
CCR new home sales reached 900 units, the highest quarterly tally since Q4 2010, a neat milestone that raised some eyebrows—and a few celebratory coffees. Among the most notable projects was The Reserve Residences, an integrated development featuring direct access to a shopping mall, MRT station, and bus interchange, making it uniquely positioned in the Bukit Timah area. The Rest of Central Region and Outside Central Region also recorded uptrends, while landed home prices increased by 1.4%, extending prior gains.
Together, institutions, Reits, and developers kept transactions resilient, demonstrating steady confidence despite macro caution.
