The tepid home sales in June will not persist.
Wong Siew Ying, Head of Research & Content at PropNex Realty,but the lull is expected to be short-lived with sales projected to pick up in July as several new launches are lined up.
“Over the weekend, LyndenWoods, a new launch in Science Park in the RCR sold over 94% of its 343 units at an average price of $2,450 psf. Meanwhile, Otto Place EC, The Robertson Opus, and UpperHouse at Orchard Boulevard are slated for launch in the coming weekend (19/20 July). Taken together, the four new projects in July can yield 600 new EC units and nearly 1,000 new private homes,” Wong added.
Here’s more from PropNex:
Following the strong performance at the launch of LyndenWoods, we expect that it could help to generate some buzz in the new home sales market over the next few weeks as more launches come up. Furthermore, the slower growth in private home prices as reflected in the URA property price index flash estimates, a more benign interest rate environment, as well as the improvement in Singapore’s economy may also lift buying sentiment. Generally, we do not expect the recent revision to the seller’s stamp duty (SSD) to impact sales significantly as most buyers today hold a mid- to long-term view on their property purchase.
Notably, we anticipate new home sales in the CCR to rebound in July with the upcoming launch of the 301-unit UpperHouse at Orchard Boulevard and the 348-unit The Robertson Opus. Apart from the two abovementioned projects, another CCR development W Residences Marina View – Singapore, part of a mixed-use development is also conducting its private preview in July.
Since the hike in the additional buyer’s stamp duty (ABSD) in April 2023, there were around 53 CCR new homes sold on average each month between May 2023 and June 2025, based on the URA monthly developers’ sales data. Prior to that, the average number of new CCR homes sold in a month was 175 units for the period from January 2022 to April 2023 (after the tightening of the ABSD in December 2021).
By and large, demand for new private homes will continue to be driven by local buyers. Based on caveats lodged, foreigners (non-PR) accounted for 1.5% of the non-landed new private home sales (ex. EC) in June 2025 – the lowest proportion in three months. In absolute terms, four units – one each at Irwell Hill Residences, One Marina Gardens, Pinetree Hill, and Terra Hill – were purchased by foreigners (non-PR) during the month. Meanwhile, Singapore PRs and Singaporean buyers made up 13.4% and 85.1% of the sales, respectively in June.
In June, the median transacted unit price of new non-landed private homes rose across the regions from May, with the RCR seeing a higher increase of 3.1% MOM to $2,732 psf, while the median $PSF price inched up by 0.5% MOM and 1.1% MOM in the CCR and OCR, respectively (see Table 1). We note that the price gap between the CCR and RCR has narrowed from 22.8% in May to 19.7% in June – among the tighter CCR-RCR price gap over the last few years.
June’s sales take the overall developers’ sales in Q2 2025 to 1,259 units (ex. EC). Overall, developers sold an estimated 4,634 new units (ex. EC) in 1H 2025 – on track to outperform the 6,469 units transacted in 2024. PropNex expects new home sales could come in at around 8,000 to 9,000 units (ex. EC) for the whole of 2025.
