Nina Smith
Singapore’s property market never stands still. By early 2025, it’s already showing signs of a shift. Buyers, investors, and developers are watching closely. Will prices shoot up, hold steady, or finally take a dip?
In this article, we’ll focus on the most likely scenarios for property prices in 2025, based on current trends, market signals, and developer strategies.
Key Highlights
- Prices are expected to move cautiously upward in prime and mid-tier segments
- Government cooling measures continue to shape buyer behavior
- Supply pipeline and completion rates will influence price adjustments
- Economic resilience and job market strength will support property demand
- Foreign investor interest remains despite tightened regulations
- Project launches in key districts will drive localized price movements
Price Momentum Slowing, Not Crashing
Singapore’s residential property market surged between 2021 and early 2023. The momentum began slowing in late 2024. Based on Urban Redevelopment Authority (URA) data, price growth decelerated in Q4 2024. New figures in 2025 suggest that while demand holds, it’s no longer outpacing supply.
Completed units are hitting the market. Vacancy rates are climbing slightly in some city-fringe areas. But a sharp decline in prices is unlikely. Singapore’s job market remains strong. Wage growth and employment stability support homeownership. Families upgrading from HDB to private properties are driving steady movement, especially in mid-range condominiums.
Developers Remain Strategic in Launches
Developers are adjusting launch schedules and pricing strategies. Instead of flooding the market, they are staging smaller-scale releases and tailoring pricing to match buyer sentiment.
One such example is Lyndenwoods. Developed by CapitaLand, Lyndenwoods reflects a trend among developers toward sustainable, well-integrated housing. CapitaLand’s smart design and eco-focused developments consistently align with evolving buyer expectations. Projects like this one demonstrate that quality developments in high-demand locations still command strong pricing.
Even in a cooling market, well-positioned, brand-driven launches continue to do well.
Policy Pressure Continues to Weigh on Sentiment
Singapore’s government has made its stance clear. Cooling measures are not going away anytime soon. The Additional Buyer’s Stamp Duty (ABSD) hike in 2023 still casts a long shadow. Foreign buyers now face higher barriers. Local investors also face tighter loan limits and stronger scrutiny.
But the market is adapting. Genuine buyers, Singaporeans purchasing for own use, remain active. First-time homebuyers are benefiting from stabilized pricing. The new Build-To-Order (BTO) projects and rising interest in resale HDB flats are redirecting some demand away from the private segment, easing upward pressure on prices.
What the Data Says Now
- Private residential prices rose 8.9% in 2023
- Growth slowed to 3.2% in 2024
- Forecast for 2025: 2–4% rise across core central and the rest of the central regions
- Rental yields remain attractive in city districts, ranging from 3.3% to 4.1%
- Vacancy rate increased slightly from 6.1% to 6.5% as new projects were completed
Market experts expect gradual, modest growth. Core Central Region (CCR) and Rest of Central Region (RCR) properties will likely hold value. Outside Central Region (OCR) may see minimal growth or plateauing.
Foreign Investors Still in Play
Despite tighter restrictions, foreign investors are not walking away. Singapore’s legal and political stability continues to attract high-net-worth individuals. New launches by reputable developers help maintain interest in the market.
Take Grand Zyon, for example. Backed by City Developments Limited (CDL) and Mitsui Fudosan, Grand Zyon represents the type of partnership that foreign and local investors trust. CDL’s legacy in crafting green, future-ready properties makes it a magnet for international capital. Mitsui Fudosan brings deep expertise in sustainable, community-centric urban planning.
Strategic alliances like this build confidence in long-term returns, even when entry costs are high.
Districts to Watch in 2025
Some districts are better positioned for appreciation due to upcoming infrastructure or limited new supply. Based on URA maps and new MRT developments, here’s where the interest is shifting:
- District 10 – Tanglin / Holland
Prices remain high, but new boutique developments are drawing demand from luxury seekers. - District 15 – East Coast / Katong
Strong family appeal, near the future Thomson-East Coast MRT line. Good mix of old and new condos. - District 23 – Bukit Panjang / Dairy Farm
Affordable segment with several new launches. Ideal for first-time buyers looking outside the core. - District 14 – Paya Lebar / Geylang
Mixed-use developments and proximity to town create a balanced value proposition.
These districts may outperform national average growth rates, depending on their supply pipeline and buyer demand.
Supply Pipeline and Completion Timelines
Developers are currently sitting on a healthy land bank. But a tighter release strategy means new units won’t flood the market overnight.
- Approximately 31,000 private units are expected to be completed in 2025
- New GLS (Government Land Sales) sites are limited for 2025
- Many new launches are staggered beyond Q3 2025
This helps stabilize prices. A well-paced rollout of supply avoids sudden price drops and supports gradual value increase, especially in high-demand zones.
Resale Market Shows More Flexibility
The resale condo segment is where buyers may find more room to negotiate. Some sellers are pricing below valuation to move units quickly. But this isn’t widespread. Older developments with higher maintenance fees and weaker layouts are more prone to price pressure.
On the flip side, newer resale units, especially those just past the Minimum Occupation Period (MOP), continue to see healthy demand. They offer modern amenities without the wait of construction.
Final Thoughts ─ What to Expect by Year-End
2025 is shaping up to be a year of cautious optimism. Home prices are not expected to crash, but double-digit growth is unlikely. Expect these three things:
- Slower price appreciation, around 2–4% average
- Strong performance in city-fringe and east-coast districts
- Continued government involvement to prevent overheating
Singapore remains a stable, well-regulated real estate environment. Whether you are a first-time buyer or investor, timing and location will be key.
Choose well-positioned projects with proven developer backing. There are still projects that stand out for their quality, design, and long-term value. In a measured market like Singapore, those are the properties that will hold their worth.
