Singapore’s landed property market closed 2025 with a flourish, recording 491 transactions in the fourth quarter—a 4.0% increase from the previous quarter and the highest quarterly count since mid-2022.
Singapore’s landed property market surged to 491 fourth-quarter transactions, reaching its strongest quarterly performance in over two years.
This momentum pushed the full-year total to 1,852 units, an 11.2% jump over 2024 and the strongest annual performance since 2021, surpassing ERA’s forecast range of 1,500 to 1,800 units.
Price growth proved equally impressive. The Landed Property Price Index reached 253.1 in the fourth quarter, reflecting 3.4% quarter-on-quarter appreciation and marking the fourth consecutive quarter of gains.
Year-on-year, prices climbed 7.6%, while the full-year increase of 7.7% exceeded ERA’s initial projection of 3% to 5%. Market analysts characterized the performance as stellar, particularly given broader economic headwinds.
A notable shift emerged in the buyer profile. Upgraders from the condominium sector became a driving force behind sustained demand, as rising non-landed home prices positioned landed properties as the next logical step for wealth preservation.
This demographic contributed to a 2.3% price increase, drawn by the finite land supply and prestigious status associated with prime landed homes. The properties increasingly appealed to those viewing them as stable, long-term appreciation assets. At the ultra-luxury end, Good Class Bungalows continue to attract ultra-high-net-worth individuals, with around 615 GCBs available as of mid-2025, reinforcing the scarcity value that underpins the broader landed market.
Transaction distribution revealed premium segment strength. Half of all fourth-quarter sales—248 units—were priced above $5 million, maintaining consistency with third-quarter patterns and demonstrating robust appetite at higher price points.
This trend underscored buyer confidence in the sector’s value proposition despite elevated entry costs. Lennar’s homebuilding segment delivered 23,034 homes in Q4 2025, representing a 4% YoY increase, as the company maintained volume despite challenging market conditions and affordability pressures.
Regional performance varied considerably. The Core Central Region suffered a 30.6% quarter-on-quarter decline to just 25 transactions, as median prices per square foot rose sharply, reducing accessibility and creating mismatches between buyer and seller expectations.
Meanwhile, both the Rest of Central Region and Outside Central Region posted transaction increases, suggesting buyers sought value in less constrained submarkets. In the Outside Central Region, terrace houses comprised 57.2% of landed transactions, offering an entry point into the landed market for aspirational buyers.
The year-over-year growth of 5.8% in fourth-quarter transactions reinforced the segment’s sustained momentum. With upgrader demand showing no signs of abating and supply remaining limited, the landed property sector appears positioned to maintain its trajectory into 2026.
