Private residential prices still rising despite slower sales, tariff wars: Savills Singapore
Barring market disruptions or fresh cooling measures by the government, the company thinks prices will continue to expand, sustained by fresh launches. These consist of a handful of projects slated to kick off in the Core Central Region, consisting of the 525-unit River Green, the 596-unit Promenade Peak and the 683-unit Marina View Residences. Other massive upcoming projects include the 937-unit One Marina Gardens in the Rest of Central Region and the 941-unit Springleaf Residence in the Outside Central Region.
Altogether, Savills believes the slate of new launches for the remainder of the year includes projects that are likely to set new benchmarks in their respective locations, adding to a much faster pace of rate development in the coming quarters. Savills has maintained its full-year cost development projection of 7% for this year.
Canberra Crescent Residences Singapore
Meanwhile, non-landed non commercial purchases by Singaporeans fell 2.6% q-o-q to 5,699 units over the exact same duration, marking the very first fall after four consecutive quarters of increase. Acquisitions by immigrants dropped 17.6% q-o-q to 70 units in 1Q2025.
At the same time, secondary sales acquired for a second successive quarter, falling 3.2% q-o-q. With both brand-new sales and second sales recording drops, overall non-landed residential sales volume receded for the first time after 3 successive quarters of increase, notes Savills.
Additionally, whilst developers’ sales have reduced ever since April, prices have actually remained to rise, states Savills. The firm attributes the resilience of property rates to “the store of assets of the baby boomers in addition to increasing HDB resale costs, that shut the rate void for upgraders.”
The influence of US tariffs is expected to balance on private home sales in the coming months, according to a May research statement by Savills Singapore. “As the toll conflicts add a degree of unpredictability to the economic atmosphere, homebuyers may practice care and take on a wait-and-see method before dedicating to their home purchases,” states Alan Cheong, executive supervisor for research and consultancy at the firm. “This might deliver about some decreasing to brand-new sales moving forward.”
The record emphasize that non-landed home acquisitions in 1Q2025 fell for buyers of all residency status besides long term homeowners (PRs). Home acquisitions by PRs increased 2.1% q-o-q to 931 units in 1Q2025. This is the 2nd consecutive quarter of higher purchasings by PRs.
Sales drive in the exclusive residential market already indicated some indicators of easing before the tolls being released. After a strong revive in debut in 4Q2024, brand-new launches regulated 8.4% q-o-q in 1Q2025, corresponding with brand-new sales that fell 1.3% q-o-q.
Despite the slower sales quantity, estate rates proceeded their higher trajectory in 1Q2025, albeit at a slower pace. Rates climbed 0.8% q-o-q compared to the 2.3% growth signed up in the last quarter.
