News > Singapore Property Market Snapshot - January 2025

Singapore Property Market Snapshot - January 2025

20 February 2025

Explore how Singapore Property Market performed in January 2025 below:

Hot Topics in Singapore Property Market January 2025

1. “We will always keep public housing affordable for Singaporeans”: PM Wong.

Singapores Prime Minister, Lawrence Wong, assures citizens that public housing will always remain affordable by pricing new flats based on income. In a dialogue with students, he addresses concerns about housing prices and the evolving Singapore Dream. He emphasises the governments commitment to listening and finding solutions together as a united people. Read more >>

2. Singapore’s private home prices surged 2.3% in Q4 2024, fuelled by booming sales and rising demand for public housing.

Singapores property market in Q4 2024 saw significant growth, with private home prices surging by 2.3% and HDB resale flat prices also rising. Non-landed private homes led the price increase, while landed homes experienced a slight dip. Despite a decline in rental prices, the market remains resilient, with new home sales increasing and a promising outlook for 2025. Read more >>

3. Singapore’s retail market registers second consecutive growth year as rents increase 0.5% y-o-y in 2024.

Despite a slight dip in retail prices in the fourth quarter, rents are expected to continue growing due to resilient occupier demand and new brands entering the market. The island-wide vacancy rate decreased, indicating strong demand for retail space. Experts predict tight vacancy rates and rental growth in prime retail spaces for 2025. Read more >>

4. HDB resale prices jump 9.7% in 2024, 1,035 million-dollar flat transactions set new record.

Despite cooling measures implemented by the government to curb excessive borrowing, strong demand and tight supply continue to drive up prices. HDB plans to launch about 19,600 Build-To-Order flats in 2025 to address supply constraints and ensure affordable housing options for buyers. Read more >>

Price Indexes

*Index value is 1 at year 2008

Price Indexes shown are powered by REA Property Price Index - an accurate and objective indicator of the real estate market performance. Read more about our index here.

1. Residential Property Price Index (Condo, HDB, Landed)

2. Commercial Price Index (Office)

Residential Property Snapshot

1. Top 5 Districts with highest Month on Month (M-o-M) Index Change

2. Top 5 most popular Condo projects in January 2025

For Condo new sale, the most popular projects with highest transaction volume in January are: The Orie, One Bernam, Bagnall Haus, Chuan Park and Hillock Green.

For Condo resale, the most popular projects are: Parc Esta, Hundred Palms Residences, Jadescape, Riversails and Kingsford Waterbay.

Definitions by URA :

*New Sale: The sale of a unit direct by a developer before the issuance of the Certificate of Statutory Completion and the Subsidiary Strata Certificates of Title or the Certificates of Title for all the units in the development.

*Resale: The sale of a unit by a developer or subsequent purchaser after the issuance of the Certificate of Statutory Completion and the Subsidiary Strata Certificates of Title or the Certificates of Title for all the units in the development.

3. Top 5 most popular projects (HDB) in January 2025

The most popular HDB projects with highest transaction volume in December are: Tampines Greenweave, Eastcreek @ Canberra, Fernvale Woods, Casa Clementi and Eastlink I @ Canberra.

4. Top 5 highest transacted price (Condo) in January 2025

The most expensive Condo transaction in January 2025 is a 5-bedroom penthouse unit at Park Nova Condo, which was sold at $38.8 million for a total area of 5,899 sqft ($6,593 PSF).

5. Top 5 Transactions by Annualised Capital Gain/Loss in January 2025

The most profitable Condo transaction in January 2025 happened at Jadescape in D20 after being held for more than 5 years, recording a 24.2% annualised gain.

The highest annual loss percentage of the month was seen in a unit at Starlight Suites Condo in D09, which recorded an annual loss of 7.2%.

Residential Listings (Condo, HDB, Landed) August 2024 - January 2025

*New Listing: the total number of listings that are newly added in that particular time period

Commercial Snapshot

1. Top 5 Office and Retail Sale (by volume and transacted price) (November 2024 - January 2025)

2. Top 5 Shophouses with Highest Transacted Price (Sale and Rent) in January 2025

*The data presented in this monthly report is accurate as of 20 February 2025. While we strive to provide the most up-to-date information available, it is important to note that there may be a small percentage of transactions that experience delays in reporting from the respective agencies and government sources. Therefore, the data provided should be interpreted with this in mind, and you are encouraged to verify the latest information for your specific needs.

*All analytical and visually interpreted data in this report is powered by RealAgent, a comprehensive app for real estate professionals. It offers a blend of property information, real-time transaction data, and advanced analytics, ensuring accurate and up-to-date insights for our report. Find out more about RealAgent here.

Download the full report (PDF) here: 012025 - Singapore Property Market Snapshot.pdf

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Continue to read our previous monthly reports:

Singapore Property Market Snapshot - December 2024

Singapore Property Market Snapshot - November 2024

Singapore Property Market Snapshot - October 2024