As Singapore’s private residential property market continues to evolve, the price index recorded a 0.8% increase in the first quarter of 2025, reflecting a moderation from the previous quarter’s 2.3% rise. This gentle upward trend signals a stabilizing market, as buyers and investors navigate changing economic conditions and housing demands. The slight increase in prices indicates a balance between supply and demand, influenced by various factors including location, property type, and market sentiment.
Among the various categories of properties, non-landed properties experienced a quarter-on-quarter price uptick of 1%. The Rest of Central Region (RCR) emerged as a significant contributor to this growth, showcasing a robust increase of 1.7% in the same period. Year-on-year, the RCR’s price growth reached an impressive 7.3%, highlighting its ongoing appeal to homebuyers and investors alike. This area has seen revitalization and development, attracting interest due to its accessibility and amenities.
The shifting dynamics between different property regions are also noteworthy. The price gap between the Core Central Region (CCR) and RCR has narrowed to just 1.0% in 1Q2025, marking the smallest margin since the first quarter of 2013. This narrowing gap suggests a trend where properties in the RCR are becoming increasingly competitive compared to those in the traditionally more expensive CCR. As homebuyers seek value for their investments, properties in the RCR are likely to continue gaining traction, affecting overall market perceptions and pricing strategies.
In terms of inventory, the landscape has also shifted. The total unsold stock of uncompleted private homes decreased by 6.6% from the previous quarter, falling to 18,125 units, which represents the lowest level observed in five quarters. This decline in unsold inventory reflects a tightening market, where demand is starting to outpace supply. A lower unsold stock can lead to upward pressure on prices, as homebuyers may face fewer options and increased competition for available properties.
Looking ahead, analysts project that private residential prices will continue to grow moderately throughout 2025, estimating an increase of 3% to 4% for the entire year. This forecast is supported by strong household financial stability and the low levels of unsold inventory. As the economy stabilizes and consumer confidence rebounds, the market is poised for steady growth, albeit at a more tempered pace compared to previous quarters.
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News Source: Edgeprop
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