Why Middle East Conflict Benefit Singapore Property

Guide News

Why the Middle East Conflict Makes Buying Singapore Property Now a Smart Move

By James Lim,March 30, 2026

SPECIAL MARKET REPORT — MARCH 2026

Why the Middle East Conflict Makes Buying Singapore Property Now a Smart Move

By SG Luxury Condo Team · March 2026 · 13 min read

📋 What You Will Learn

How a Faraway Conflict Changes Your Property Decision
Rising Construction Costs Will Drive Future Property Prices Higher
Low Interest Rates Create a Rare Window for Buyers
Singapore Is Asia's Ultimate Safe Haven for Capital and Families
Supply Chain Disruption Is Tightening Future Housing Supply
Singapore's Growing Population Means Demand Is Only Going Up
The Bottom Line: Why Waiting May Cost You More Than Buying

How a Faraway Conflict Changes Your Property Decision

You might be asking: What does a conflict in the Middle East have to do with me buying a condo in Singapore? It is a fair question — and the answer is more direct than you might think.

In late February 2026, the United States and Israel launched joint air strikes against Iran, triggering a region-wide escalation that has effectively shut down the Strait of Hormuz — the narrow waterway through which roughly 20 million barrels of crude oil pass every single day. According to the World Economic Forum, Brent crude oil prices jumped about 15% in the opening days of the conflict, then surged to $120 a barrel as it deepened and the market began pricing in the risk of sustained disruption.

Oil and energy costs are embedded in almost everything used to build a home — steel, cement, aluminium, glass, transport, logistics. When oil prices spike and shipping routes shut down, building things gets more expensive. Developers pay more to construct your future condo. And eventually, they pass that cost to you. But the story does not stop at construction costs. The Middle East conflict is also reshaping where global capital flows, how Singapore is perceived as a home for both people and wealth, and whether the supply of new condos will keep up with the growing number of people who want to live here.

“Global uncertainty is not a reason to stop. For the right Singapore property buyer, it is a reason to think clearly — and act before the window closes.”

Chapter 1: Rising Construction Costs Will Drive Future Property Prices Higher

Construction is one of the most energy-hungry industries in the world. Steel requires enormous amounts of electricity. Cement kilns run on fuel. Aluminium smelters consume vast amounts of power. All of these are powered by the kind of energy that is now being priced with a war premium.

At the centre of the disruption is the Strait of Hormuz, the narrow waterway through which some 20 million barrels of crude oil pass daily. Escalation around the critical waterway has increased logistics risk, lifted war-risk insurance and bunker costs, and added a risk premium to crude oil and liquefied natural gas (LNG). These costs are now filtering through to construction input prices, as noted in a March 2026 report by global construction consultant Linesight.

In the first week of March 2026, crude futures jumped by nearly 22% as markets priced Gulf risk. Aluminium prices reached a four-year high on the London Metal Exchange. According to Baker McKenzie’s Global Disputes Forecast 2026, Asia’s dependency on Middle Eastern energy means disruptions pass through to power and transport costs, which in turn inflate material inputs such as steel, cement and fabricated components.

+22%

Crude futures jump in first week of March 2026 as markets priced Gulf risk

3.45%

Revised tender price inflation forecast for 2026, up from 3.3% (Rider Levett Bucknall)

4-yr high

Aluminium prices on LME — a key construction material — in March 2026 (Linesight)

A condo that a developer prices at $1.8 million today was planned and costed before the current spike in material prices. The next wave of developments — those being designed, tendered, and launched over the next 12 to 24 months — will be costed with today’s elevated energy, steel, and aluminium prices baked in. That means higher launch prices for buyers who wait.

In Malaysia, housing contractors have already warned that the ongoing instability in global supply chains is making it difficult to provide accurate cost estimates during the early stages of a project, adding that this can lead to cost overruns, construction delays, and developers postponing or restructuring the launch of housing projects. What applies in Malaysia applies across the region — including Singapore.

Chapter 2: Low Interest Rates Create a Rare Window for Buyers

💡 What This Means for HDB Upgraders

If you are considering upgrading from your HDB flat to a private condo, the condos you are looking at today — especially new launches already under construction — were priced before the current energy cost spike. Waiting for "better deals" in 2027 may instead mean facing higher launch prices as developers reprice based on today's elevated construction costs. View our latest new launch listings to see current pricing before it changes.

SORA — Singapore’s benchmark home loan interest rate — has been falling steadily since its 2023 peak of over 3.5%. As of early 2026, SORA-linked home loan rates sit at approximately 1.1% to 1.5%. This gives you lower monthly mortgage repayments than at any point since 2021.

📊 What SORA Rate Movement Means for Your Monthly Payment

On a $1.35 million bank loan (75% LTV on a $1.8M condo) over 25 years:

At 3.5% (2023 peak): Monthly repayment ≈ $6,760

At 2.0% (stress test floor): Monthly repayment ≈ $5,720

At 1.3% (current SORA-linked rate, early 2026): Monthly repayment ≈ $5,150

*Illustrative figures only. Actual rates depend on bank package and individual credit profile. Bank stress tests use a floor rate of 4%.

Here is the nuance the Middle East conflict introduces: rising energy costs and potential supply disruptions will place upward pressure on inflation, either pushing it higher or preventing it from falling as quickly as expected. This means the current window of relatively low rates is not guaranteed to stay open indefinitely. If the conflict drives a sustained global inflation resurgence, central banks may have to pause or reverse rate cuts. The window of sub-2% SORA-linked mortgage rates may be shorter than it looks.

History shows that by the time it becomes obvious interest rates are rising, the window has already closed for most buyers. The time to lock in a loan at today’s rates is now, not after the inflation picture becomes clearer. Check out our complete HDB upgrade financing guide for a breakdown of how to structure your loan in today’s rate environment.

Chapter 3: Singapore Is Asia's Ultimate Safe Haven for Capital and Families

The Capital Inflow Is Already Happening

In 2025, Singapore’s three largest banks attracted a combined S$77 billion in net new wealth money. DBS reported S$39 billion in fresh inflows and OCBC added S$27 billion. The source is clear: ultra-high-net-worth individuals across Asia, particularly from China, India, and the Middle East, are moving assets out of perceived hotspots. The Iran-GCC conflict inflicted significant damage on the UAE’s infrastructure and civilian sites, directly undermining the Gulf’s reputation as a safe haven. Firms like JPMorgan and Partners Group have cancelled or relocated major investor gatherings from Dubai. When global wealth moves, it needs somewhere to land — and increasingly, a large portion of that capital is landing in Singapore real estate.

Huttons Asia CEO Mark Yip has said: “It would not be a surprise to see more wealth coming to Singapore and contributing to demand for properties.” This is because ultra-high-net-worth individuals want stability and low taxes.

Why Singapore Keeps Getting Chosen

Singapore Advantage	What It Means for Property Owners
Political neutrality and stability	No risk of property confiscation or sudden policy reversal
Strong Singapore Dollar (SGD)	Your property value is denominated in a currency that holds its global value
English common law legal system	Transparent, enforceable property rights with no legal ambiguity
World-class financial infrastructure	Liquid market — you can sell when you need to
Low crime, excellent schools, healthcare	Consistent demand from locals and expats — supports rental yield
Consistent MAS regulatory framework	Cooling measures prevent speculative bubbles — no sudden market collapses

ERA Singapore has documented the historical evidence: during the first Gulf War (1990–1991), Singapore’s Private Residential Property Price Index maintained its growth throughout the conflict and rose by roughly 160% over the following five years. During the Iraq War (2003–2011), the PPI rose by around 82.9% throughout the conflict. An upward trend in private property prices has been observed since the outbreak of the Russia–Ukraine conflict in 2022 as well.

The pattern is consistent: Singapore property does not crash during Middle East conflicts. It continues — and often accelerates — its long-term upward trend. Singapore’s stability makes it the natural beneficiary of the capital flight that follows every period of global uncertainty.

“Every major global conflict in the past 30 years has ended with Singapore property prices higher than when it started. That is not coincidence. That is structural advantage.”

💡 Explore Singapore's Top Condos

Browse our curated listings of Singapore's top private condos to see what your budget can unlock in today's market — from OCR family condos to CCR luxury residences that are seeing the strongest safe-haven interest from international buyers.

Chapter 4: Supply Chain Disruption Is Tightening Future Housing Supply

When construction costs rise sharply and supply chains become unpredictable, developers face a difficult choice: launch new projects at higher prices and risk slower sales, or delay launches until they have more cost certainty. Armed escalation across the Middle East has disrupted airspace and critical maritime corridors, notably the Strait of Hormuz and Red Sea/Suez, forcing costly rerouting of vessels and increasing war risk insurance and freight rates. According to Baker McKenzie, construction supply chains in the Gulf are already experiencing delivery delays, price volatility and repricing of non-energy cargo, with knock-on effects for Asia Pacific contractors dependent on these corridors.

Delayed New Launches

Developers who cannot accurately price steel, aluminium, and MEP components will delay project launches rather than risk selling at prices that do not cover their final construction cost. Fewer launches = fewer options for buyers = upward pressure on available units.

Extended Construction Timelines

When one stage slips — production, supply and delivery — the delay compounds on any project underway. The next wave of supply enters the market later than planned, stretching the gap between demand and available units.

Higher Replacement Cost of Existing Stock

When it becomes more expensive to build new properties, the replacement cost of existing ones rises. This puts a floor under resale prices — sellers of existing condos can justifiably ask for more, knowing that rebuilding today would cost significantly more than it did when the property was first constructed.

Singapore is a city-state with a total land area of just 733 square kilometres. There is no equivalent of suburban sprawl here. Every square metre of buildable land is finite, and the government tightly controls what gets released through the Government Land Sales (GLS) programme. Supply chain disruption slowing new completions, combined with tight land supply and rising construction costs that deter new launches, creates a perfect storm for constrained housing supply at exactly the moment when demand is rising.

You can explore currently available new launch condos on our listings page — properties priced and launched before the current cost spike, while supply is still relatively available.

Chapter 5: Singapore's Growing Population Means Demand Is Only Going Up

Population Growth: The Numbers from Singapore's Own Government

Singapore’s total population stood at 6.11 million as at June 2025, a 1.2% increase from June 2024. The annualised population growth rate of 1.5% over the past five years (2020–2025) was higher than the 0.5% over the preceding five-year period (2015–2020). The Non-Resident population stood at 1.91 million, an increase of 2.7% — this growing pool of employment pass holders and skilled professionals directly supports rental demand for private condos.

📌 Singapore's Population in Numbers (2025)

Total population: 6.11 million (record high)

5-year annualised growth rate: 1.5% per year

Non-resident population growth: +2.7% year-on-year

New PRs granted in 2024: ~35,264

New citizenships granted in 2024: ~22,766

Median household income: S$12,446/month — first time crossing $12,000 mark

Source: Singapore Department of Statistics (DOS), Population in Brief 2025; ERA Research, March 2026.

The Middle East Conflict Amplifies This Demand

When the Gulf becomes unstable — when Dubai’s reputation as a safe business hub is damaged by missile strikes on its infrastructure — Singapore is the natural destination for displaced wealth and displaced people. Multinational corporations often centralise operations in politically stable cities during uncertain times. Family offices, financial institutions, and regional headquarters that were based in Dubai are actively reviewing their presence and exploring Singapore as an alternative base. Every new high-income professional relocating from the Gulf to Singapore needs to live somewhere — and most will rent or eventually buy private property.

💡 What This Means for Your Rental Yield

The growing expat and non-resident population is a strong tailwind for rental demand. Current rental yields for OCR condos range from 3.5% to 4.5% per annum. See our guide on Singapore investment properties with strong rental yields to find the best-performing areas for income returns.

Chapter 6: The Bottom Line — Why Waiting May Cost You More Than Buying

Factor	Current Situation	Implication for Buyers
🏗️ Construction costs	Steel +22%; aluminium 4-yr high; tender inflation revised upward	Future condos will be launched at higher prices than today
💰 Interest rates	SORA at ~1.1–1.5%, near multi-year lows	Monthly repayments cheaper now than in 12–18 months
🏙️ Singapore safe haven	S$77B in new wealth inflows to SG banks in 2025	More capital = more demand = sustained price floor + upward pressure
🔗 Supply chain disruption	Strait of Hormuz effectively closed; shipping costs surging	Future supply tightening as demand rises
👥 Population growth	6.11M (+1.2%); 35K new PRs; $77B wealth migration to SG	More people need homes; rental yields and capital values supported

Put these five forces together and a picture emerges: the cost of building a new condo will be higher in 2027 than in 2026. Supply may be tighter. And demand from both locals and arriving wealth is growing. The result of rising costs, tighter supply, and growing demand is higher prices.

History is the most convincing argument. Singapore property survived the Gulf War, the Asian Financial Crisis, SARS, the Iraq War, the Global Financial Crisis, COVID-19, and the Russia–Ukraine conflict. In every case, those who bought during the uncertainty and held for five or more years were rewarded. The Middle East conflict of 2026 will, in time, be another chapter in that same story.

⚠️ A Word of Balance

Not every scenario is positive. If the Middle East conflict leads to a prolonged global recession, Singapore's open, trade-dependent economy could face headwinds — and property market sentiment could cool in the short term. As always, buy within your means, maintain an emergency fund, and choose properties with strong fundamentals: good location, reputable developer, and the right size for your needs.

If you are ready to take the next step — whether exploring your upgrade options, understanding your CPF and financing position, or finding the right new launch for your budget — we would love to help. Browse our contact page to reach our team.

Find Out If Now Is the Right Time for You

Global market conditions are moving fast. Book a free, no-obligation consultation with our team and we will map out your personal upgrade timeline — your MOP, your finances, and the best options available right now.

Get My Free Property Consultation →

Disclaimer: This article is for general informational and educational purposes only. It does not constitute financial, legal, or property investment advice. All data cited is sourced from publicly available reports as at March 2026, including EdgeProp Singapore, ERA Singapore, Baker McKenzie, World Economic Forum, Linesight, Rider Levett Bucknall, and Singapore Department of Statistics. Market conditions, geopolitical situations, and economic forecasts are subject to rapid change. Please consult a licensed property agent, financial advisor, and lawyer before making any property transaction. SG Luxury Condo is a licensed real estate agency in Singapore.

Private Property Transaction Volume after Covid

News

4Q 2025 URA Property Statistics: Private Home Demand Stays Resilient

By James Lim,January 26, 2026January 26, 2026

2025 URA Property Statistics: Private Home Demand Stays Resilient

Singapore’s private residential property market ended 2025 on a stable and confident note. According to the latest URA Real Estate Statistics for 4Q 2025, private home prices continued to rise, transaction volumes remained healthy, and buyer confidence carried through from the strong momentum seen in the third quarter.

While overall sales volumes moderated slightly due to fewer launches and the typical year-end slowdown, the underlying demand for private homes stayed intact. More importantly, the data points to a firm outlook heading into 2026, supported by controlled supply, stable economic conditions, and sustained owner-occupier demand.

For HDB upgraders, first-time private buyers, and long-term investors, the 4Q 2025 figures provide valuable insight into where the market stands today—and where it may be heading next.

Private Home Prices Continue a Steady Uptrend in 4Q 2025

In the fourth quarter of 2025, Singapore’s All-Residential Private Property Price Index rose by 0.6% quarter-on-quarter, extending the growth seen in the previous quarter. While this was slightly slower than the 0.9% increase in 3Q 2025, it still marked the fifth consecutive quarter of price growth, reinforcing the market’s underlying stability.

On a year-on-year basis, private home prices rose 3.3% in 2025, with much of the growth driven by the landed housing segment. This gradual pace of appreciation suggests that the market is expanding in a controlled and sustainable manner, rather than overheating.

For buyers who have been waiting on the sidelines, the data shows that prices are not retreating—but neither are they surging aggressively. This environment tends to favour decisive buyers who are financially ready, rather than those hoping for sharp price corrections.

Transaction Volumes Dip Seasonally, But Full-Year Activity Remains Strong

A total of 6,699 private home transactions were recorded in 4Q 2025, representing a 9.5% quarter-on-quarter decline. This moderation came after a very strong 3Q 2025, which saw heightened activity driven by eight major project launches.

The softer fourth-quarter performance was largely expected. Developers typically slow down launches toward the end of the year, and buyer activity often dips in December due to school holidays and year-end travel. Importantly, this was a seasonal slowdown rather than a demand-driven pullback.

For the full year, total private home sales reached 26,492 units, highlighting the resilience of Singapore’s housing market even amid global uncertainties earlier in the year.

New Home Sales Remain the Key Demand Driver

Despite fewer launches in 4Q 2025, the primary (new home) market remained robust. Developers sold 2,940 new private homes during the quarter, only a modest decline from the previous quarter’s strong showing.

Across the whole of 2025, 10,815 new homes were sold, making it the best-performing year since 2021. This reflects sustained confidence among buyers, particularly owner-occupiers who are less sensitive to short-term market fluctuations.

A key trend worth noting is the high take-up rates at launch. In 4Q 2025, four out of five new launches achieved over 80% sales on launch day. This mirrors the strong launch-day demand seen in 3Q 2025 and suggests that well-priced, well-located projects continue to attract immediate buyer interest.

For HDB upgraders, this highlights an important reality: desirable new launches do not stay available for long, especially when supply is limited.

Fewer Completions Are Pushing Buyers Toward New Launches

One structural factor shaping the market is the low number of private home completions. In 2025, only 6,123 private homes (excluding ECs) were completed, significantly lower than the 8,460 units completed in 2024.

This reduced completion pipeline has limited resale and sub-sale supply, pushing more buyers toward the new home market. As a result, developers with ready projects have benefited from spillover demand, especially in popular city-fringe and suburban locations.

This supply dynamic is expected to remain relevant in the near term, which helps explain why developers continue to enjoy strong sales momentum despite fewer launches.

Unsold Inventory Continues to Decline

Unsold private residential stock fell 5.2% quarter-on-quarter to 16,193 units in 4Q 2025. This decline came even after several new projects were launched, reflecting healthy absorption rates across the market.

Lower unsold inventory levels generally support price stability, as developers face less pressure to discount aggressively. It also reinforces the idea that demand is keeping pace with supply, particularly for projects that align well with buyer expectations around pricing, location, and layout.

Non-Landed vs Landed Homes: Diverging Price Performance

Non-Landed Homes See More Moderate Growth

Non-landed private homes recorded slower price growth in 4Q 2025, with prices edging down slightly after stronger gains in the previous quarter. This moderation was largely due to a smaller number of launches compared to 3Q 2025, when eight projects entered the market.

That said, price performance varied significantly by region.

Outside Central Region (OCR) non-landed homes saw the strongest growth, rising 1.0% quarter-on-quarter, supported by the strong performance of Faber Residence, which achieved over 90% sales during the quarter.

Rest of Central Region (RCR) prices rose 0.7% quarter-on-quarter, continuing the upward momentum from earlier launches such as Zyon Grand, Penrith, and The Sen.

Core Central Region (CCR) prices declined 3.5% quarter-on-quarter, ending four consecutive quarters of growth. This was largely due to lower transaction volumes, rather than weak interest, as pricing expectations between buyers and sellers temporarily diverged.

Landed Homes Outperform on the Back of Upgrader Demand

The landed housing segment was a standout performer in 4Q 2025. Prices rose 3.4% quarter-on-quarter, accelerating from the previous quarter and marking the fourth consecutive quarter of growth.

On a year-on-year basis, landed home prices climbed 7.7% in 2025, significantly outpacing non-landed homes. This trend reflects growing interest from condominium owners who were able to upgrade as their property values appreciated.

Transaction volumes for landed homes also increased, with 491 transactions in 4Q 2025, bringing the full-year total to 1,852 transactions, an 11.2% increase over 2024.

Demand was particularly resilient in the OCR and RCR, where buyers found a better balance between space, affordability, and location. In contrast, CCR landed transactions slowed as higher prices led to a temporary standoff between buyers and sellers.

Resale and Sub-Sale Markets Hold Steady

The resale private home market recorded 3,529 transactions in 4Q 2025, a slight moderation from the previous quarter. However, full-year resale transactions totalled 14,622 units, largely in line with 2024 levels.

This consistency highlights the resilience of the resale segment, even as it competes with attractive new launches and faces seasonal slowdowns.

Sub-sale activity remained muted, with only 230 transactions in 4Q 2025. The limited number of new completions in 2025 reduced opportunities for sub-sale transactions, a trend that is likely to persist until completion volumes rise again.

Rental Market Begins to Stabilise

After several years of strong rental growth, the private residential rental market showed signs of stabilisation in 4Q 2025. The All-Residential Rental Price Index dipped 0.5% quarter-on-quarter, reversing the modest increase seen in the previous quarter.

Non-landed rents declined marginally, while landed rents saw a steeper adjustment. Despite this short-term pullback, overall private rents still rose 1.9% for the full year, indicating that rental demand remains structurally supported.

Looking ahead, a growing supply pipeline—combined with policies such as the extended occupancy cap—is expected to keep rental growth in check through 2026 and 2027. For tenants, this could translate into more stable and negotiable rental conditions.

Upcoming Launches in 2026: Supply Remains Managed

The new launch pipeline in 2026 is shaping up to be active but controlled. The year began with the successful launch of Coastal Cabana EC, which sold more than two-thirds of its units shortly after launch.

For the full year, around 19 private residential projects comprising approximately 9,852 units, along with five EC developments offering nearly 2,000 units, are expected to enter the market. These projects span the CCR, RCR, and OCR, catering to a wide range of buyer profiles.

The continued release of land through the GLS programme reflects the government’s commitment to maintaining a stable housing supply and preventing excessive price volatility.

Market Outlook for 2026: Stability with Moderate Growth

The slight pullback in transactions during 4Q 2025 does not signal a weakening market. Instead, it reflects a natural pause following an exceptionally strong third quarter and the usual year-end slowdown.

Heading into 2026, Singapore’s private residential market is expected to remain resilient, supported by:

Strong owner-occupier demand
Limited unsold inventory
Controlled supply from GLS sites
Stable employment and income conditions

Barring unexpected global shocks, new home sales in 2026 are projected to range between 9,000 and 10,000 units, while resale transactions are expected to remain in the 13,000 to 14,000 range.

For buyers, this suggests a market that rewards preparation and decisiveness rather than speculation. Prices are likely to trend upward gradually, making well-timed purchases more important than trying to time a market bottom.

Final Thoughts: What This Means for Buyers and Upgraders

The 4Q 2025 URA statistics confirm that Singapore’s private property market remains fundamentally healthy. Demand has proven resilient, supply is being carefully managed, and price growth continues at a sustainable pace.

For HDB upgraders, the ongoing strength in both resale HDB prices and private home demand presents a window of opportunity to transition into private housing with confidence. For first-time private buyers, the coming year offers a diverse range of new launches across different regions and price points.

As always, the key lies in understanding your budget, timing your move strategically, and choosing projects that align with both lifestyle needs and long-term value.

Guide News

Singapore Property Sales Report: What August 2025 Means for First-Home Buyers & HDB Upgraders

By James Lim,September 18, 2025September 18, 2025

Singapore Property Sales Report: What August 2025 Means for First-Home Buyers & HDB Upgraders

Buying your first home, or upgrading from an HDB flat, is a major decision. You want value, location, timing, future growth—and avoiding pitfalls. The latest developer sales results for August 2025 provide a compelling window into where the Singapore private housing market is headed. Here’s what you need to know, how to interpret the numbers, and what factors matter most for you.

Key Figures: Surge in Sales & What It Signals

In August 2025, developer sales in the private home (non-landed) segment (excluding Executive Condominiums, or ECs) jumped to 2,142 new homes sold. This is the highest monthly total since November 2024.

Compared to July 2025, that’s an increase of approximately 128%, and when measured year-on-year versus August 2024, it is over ten times as many units sold.

Including ECs, total developer sales were even higher (2,338 units) in August, reflecting continued interest in that segment from upgraders and those wanting more space while keeping cost more manageable.

What’s fueling this surge? It’s largely driven by fresh new launches. Five major projects—Springleaf Residence, River Green, Promenade Peak, Canberra Crescent Residences, Artisan 8—accounted for about 88% of August’s non-EC developer sales. Also, the number of units launched in August rose sharply vs July (49% higher).

For first-home buyers and upgraders, this kind of momentum means more choices, more competitive pricing in some projects, and possibly better negotiating or timing windows—especially in projects that are less premium or slightly further out.

Breakdown by Region: CCR, RCR, OCR

Private New Home Sales Comparison — Private New Home Sales July vs August

When you’re upgrading from an HDB flat, where your new home is matters a lot: proximity to MRT / work / schools, neighbourhood quality, and long-term value. Here’s how things looked by region in August.

CCR (Core Central Region): 513 units sold in August—this is a strong rebound. CCR has been quiet in past months, but August saw demand rise significantly. Some of the headline projects here were River Green (451 units sold, ~86% of its total) with a median price around S$3,111 psf. Also, UpperHouse at Orchard Boulevard moved solidly.
RCR (Rest of Central Region, city-fringe): RCR had 476 units sold, a slight decrease from July but still showing strength. Projects like Promenade Peak (333 units sold) and Artisan 8 contributed. RCR gives a bit more space for money, often slightly lower quantum per unit but still fairly central.
OCR (Outside Central Region, more mass-market / suburban): This region took the lead in volume in August with 1,153 units sold (non-EC). That’s a major jump from July’s OCR sales (which were very low). Projects like Springleaf Residence (884 of its 941 units sold, almost full take-up) and Canberra Crescent Residences sold well here. OCR is attractive for first-home buyers / HDB upgraders who need more space per dollar.

Pricing & Quantum: What Buyers Paid

One of the biggest concerns for HDB upgraders or first-timers is “How much will this cost me?“ Quantum (total purchase price), psf (price per square foot), and what portion of units in a launch are below certain thresholds, matter a lot.

Here are some of the numbers that stand out in August 2025:

A large portion (around 79-80%) of units sold in the major new launches were priced below S$2.5 million. That means most of what people bought were mid-market range, not ultra luxury.
Median psf in the OCR projects were generally lower. For example, Springleaf Residence had a median price of S$2,166 psf, Canberra Crescent Residences about S$1,991 psf.
In CCR, median psf is much higher: River Green ~ S$3,111 psf; UpperHouse ~ S$3,353 psf, etc.
For ECs, Otto Place EC continues to see strong demand. In August, 196 EC units were sold, nearly fully sold (Otto Place ~90% sold by end-August). Median price ~ S$1,760 psf. ECs remain attractive as a “step between HDB and private condo” option.

So for HDB upgraders: if you’re considering private, OCR and RCR launches offer more affordable quantum for space; CCR demands premium, but may offer prestige or future capital appreciation.

Buyer Profile & Foreign Participation

Another key factor: who is buying? And how much foreign/PR participation is there? These affect policies, competition, and sometimes sentiment.

Singaporeans dominated buyer volume: in August ~ 90.6% of buyers were citizens. PRs made up about 8%, and foreigners only ~ 1.4%.
This means that most of the demand is from local owner-occupiers or upgraders, not foreign investors. For HDB upgraders, this reduces one element of external competition (though competition from other locals is still strong).
Price thresholds matter: many bought units under S$2.5M. Very few super-luxury units; even within CCR, a portion of units is priced more “affordably” (relatively) under that threshold. This pricing mix seems deliberate by developers to hit that “sweet spot” which many upgraders / first-homeowners aim for.

Price range	ARTISAN 8	CANBERRA CRESCENT RESIDENCES	PROMENADE PEAK	RIVER GREEN	SPRINGLEAF RESIDENCE	Total
Below $1 mil	6.7%	1.4%	0.0%	0.0%	0.9%	0.6%
$1 mil to <$1.5 mil	6.7%	38.4%	6.0%	17.5%	38.2%	27.4%
$1.5 mil to <$2 mil	53.3%	45.5%	38.1%	44.6%	25.3%	34.6%
$2 mil to <$2.5 mil	13.3%	12.8%	21.0%	14.0%	17.4%	16.7%
$2.5 mil to <$3 mil	20.0%	1.9%	6.9%	18.2%	14.3%	12.6%
$3 mil to <$3.5 mil	0.0%	0.0%	11.7%	5.3%	3.8%	5.1%
$3.5 mil to <$4 mil	0.0%	0.0%	6.6%	0.4%	0.0%	1.3%
$4 mil to <$5 mil	0.0%	0.0%	4.8%	0.0%	0.0%	0.8%
$5 mil to <$7 mil	0.0%	0.0%	4.8%	0.0%	0.0%	0.8%
Total	100%	100%	100%	100%	100%	100%
Proportion below $2.5 mil	80.0%	98.1%	65.2%	76.1%	81.9%	79.4%

Timing & Launch Strategy: What August Tells Us

Lynderwoods showflat high demand — New Launch balloting

Timing of launches, especially around cultural dates and “quiet months,” is often underappreciated by buyers. August 2025 is illustrative:

Developers pushed out multiple launches before the Lunar Seventh Month (starts 23 August in 2025) to avoid the traditional lull. Auctions/launches drop during Ghost Month, typically less demand.
As a result, projects like Springleaf Residence, River Green, etc., launched earlier in the month and captured buyer interest before the expected slowdown. That means timing your decision (and being ready when showrooms open) can make a difference.
The number of new units launched in August (for sale) was 2,496 (excluding ECs), significantly more than in July. That means more fresh inventory, more choice.

So, if you’re a buyer, observing launch calendars, showflat previews, and being ready to act early matters a lot. Waiting for discounts may or may not work, depending on supply and demand.

What This Means for HDB Upgraders & First-Home Buyers

Putting together all the data above, what are the takeaways for people in your situation?

Budgeting & Quantum Expectations
If you’re upgrading from an HDB flat, expect that a private 2- to 3-bedroom in OCR or RCR may cost in the range of S$1.5M to S$2.5M (depending on location, amenities, psf). CCR options will generally cost more (often S$2.5M+). Make sure you include all additional costs (stamp duties, legal fees, renovations).
Location vs Price Trade-Off
- Want to stay close to the city, shorter commute? CCR or near MRT RCR homes are appealing but come at higher psf.
- If you can compromise somewhat on location, OCR releases like Springleaf / Canberra Crescent offer much more space per dollar. For many upgraders, this is a sweet compromise.
New Launch vs Waiting
New launches in “good” projects are selling fast. If you find a project that matches your criteria, acting early helps. Missed launch may mean higher prices later or less favourable unit choices (higher floors, odd facing). But rushing without due diligence (on developer reputation, contract terms, connectivity etc.) could lead to regrets.
Financing & Affordability
Lower mortgage rates (or expectations thereof), stable income, and healthy loan-to-value (LTV) ratios are encouraging. But don’t overextend. Make sure monthly repayment fits comfortably with your other expenses. Also be aware of future maintenance, property tax, and renovation costs.
Consider ECs (Executive Condominiums)
ECs like Otto Place are appealing for upgraders who want private lifestyle features but at lower quantum. They offer a middle ground. Keep an eye on upcoming ECs (e.g. Coastal Cabana, Tampines Street 95) as they may offer good value.
Policy Risks & Resale Potential
Policies (like Additional Buyer’s Stamp Duty (ABSD), Loan-to-Value limits, cooling measures) can shift, especially for CCR and higher-quantum properties. Always leave room in your planning. Also, consider resale potential: homes nearer MRTs, good schools, good connectivity & amenities tend to retain or increase value better.
Emotional & Lifestyle Factors
First-home buyers often look for functionality: size, layout, amenities, travel time, schools. Upgraders may also value prestige, view, brand, or future resale. Be clear what’s your priority: are you buying to live or partly to invest? Does prestige matter, or maximizing usable space?

Risks & What to Watch Out For

While numbers are encouraging, not everything is perfect. Here are the risks:

Seasonality Slowdowns: After a strong August, slowing in September is expected, because of Ghost Month and fewer launches. That may temporarily relieve pressure, but could also mean fewer options.
Rising Costs: Land prices, construction costs, labour, materials—all continue to rise. That may force developers to raise asking prices or reduce “sweet-spot” units. If you wait too long, you may pay more.
Financing Headwinds: If interest rates rise, or bank policy becomes more conservative, your mortgage costs could go up. This impacts monthly cashflow.
Competition: Good projects (location + developer + pricing) are attracting many buyers. Getting in early helps, but you need to be ready with financing, decision-making, and possibly some flexibility.

What First-Home Buyers & Upgraders Should Do Now

To make the most of this market while minimizing risk, here are practical steps:

Define Your Priorities Clearly
Decide what matters most: commute time, school proximity, size vs prestige, view vs cost. Make a checklist.
Set a Firm Budget
Including not just purchase price, but stamp duty, legal costs, maintenance, renovations. Use mortgage calculators. Talk to lenders — get in-principle approvals so you know how much you can borrow.
Monitor New Launch Calendars
Keep an eye on upcoming projects: in August the launches drove most of the sales. Look at upcoming ones: Penrith, Zyon Grand, The Sen etc. These may offer units in your preferred region / price bracket.
Be At Showflats Early
Project showflats open, or preview, often before formal sales. Attending early lets you see unit facing, layout, offer schemes etc. Also, early applications sometimes get better units (lower storeys, better view).
Understand the Lease & Tenure Differences
Especially in CCR vs RCR vs OCR, lease tenure, freehold vs leasehold, and remaining lease life can affect value/resale. Also check developer reputation and track record.
Negotiate & Compare
Don’t accept the first offer without comparing similar projects (location, psf, amenities). Sometimes developers throw in perks (fitting, furniture, rebates). These can ease the burden.
Plan for the Long Term
Even if you buy to live, think about resale or rental potential, in case life changes. Proximity to future MRTs, master plan enhancements, or upcoming infrastructure will matter.

Looking Ahead: What to Expect in 2H & Into 2026

With the strong performance in August, what might the rest of 2025 and early 2026 look like for private new home launches and sales?

Experts now expect total new home sales (excluding ECs) for the full year 2025 to reach between 9,000-10,000 units, up from earlier forecasts of 8,000-9,000.
Several projects are expected to launch in Q4 2025: Penrith, The Sen, Zyon Grand, Faber Residence, Skye at Holland etc. Buyers should watch these closely.
Pricing pressure may increase, especially in CCR, as demand returns and land/construction cost increases persist. Developers will likely try to balance “quantum” appeal vs profit margin.
More units in OCR may be introduced to meet demand from upgraders and first-home buyers who want space/value. EC launches may be fewer; many upcoming EC projects are further ahead (Q1 2026 etc).
Policy environment is likely to remain stable but could be adjusted (e.g. ABSD, loan-to-value) if markets overheat. Buyers should monitor policy announcements.

Real-Life Examples: Projects That Could Be Good Fits

Here are some actual projects from August 2025 that may suit upgraders / first-home buyers. I’m selecting ones that combine good value, location, and realistic quantum.

Project	Region	Units & Take-Up	Median / Typical Price PSF	What Makes It Attractive
Springleaf Residence	OCR (Upper Thomson)	~884 of 941 units sold (≈94%)	~ S$2,166 psf	Large launch, strong take-up, fairly central, but more affordable than CCR; good if you want balance of space + accessibility.
Canberra Crescent Residences	OCR	Sold ~211 units in month (56%)	~ S$1,991 psf	Lower psf, decent project; good for upgraders who want lower quantum but modern amenities.
River Green	CCR (River Valley / Great World area)	~451 units sold (≈86% of launch over time)	~ S$3,111 psf	Very premium; iconic location; great if you can stretch budget and want prestige.
Promenade Peak	RCR	~333 units sold (≈56% of units)	~ S$2,919 psf	City-fringe option with RCR location; good middle ground if CCR quantum is too steep.
Otto Place EC	EC segment	~191 units sold in August; nearly sold out	~ S$1,760 psf	EC often has lower entry quantum; good stepping stone from HDB to private.

These help show what you can expect in real terms: where price per square foot will likely be, and how fast units sell in good projects.

Conclusion

August 2025 was a landmark month for Singapore private developer sales. For first-home buyers and those upgrading from an HDB flat, it brings renewed optimism: more launches, more units below S$2.5 million, and better options in OCR and RCR. CCR is also waking up again, though you pay a premium.

If you’re planning to buy soon, now is a strong moment: with good launches, competitive pricing, and healthy market activity. But don’t rush blindly. Clarify your budget, location priorities, unit type, and factor in all costs. Be ready for sales spikes, but also for quieter months ahead. With careful planning, you can pick a home that fits your needs, lifestyle, and financial comfort—both now and in the long-term.

Guide News

Vela Bay: A Landmark Breakthrough in East Coast Living

By James Lim,August 29, 2025March 4, 2026

Vela Bay: A Landmark Breakthrough in East Coast Living

<TLDR>

The Bayshore Road GLS site which will be called Vela Bay, launched by URA in November 2024 and closed in March 2025, drew eight bids, with Sing-Haiyi Garnet winning at S$658.9 million or S$1,388 psf ppr—setting a new suburban record. Boasting prime MRT access, sea-views, and located at the heart of the 60 ha Bayshore Master-Planned precinct, the site exemplifies strong developer confidence and pent-up homebuyer demand in a rejuvenating East Coast district.

1. The Site in Context: Location, Launch, and Scale

Launch and Tender Timeline
URA launched the Bayshore Road GLS site on 26 November 2024, with the tender closing on 18 March 2025.

Parcel Details and Yield

Land Size: Approximately 10,497.3 m² (or ~112,992 sq ft).
Gross Floor Area (GFA): Maximum of 44,089 m² (~474,570 sq ft), projected to yield around 515 private housing units.

This makes it a medium-scale, highly strategic GLS site, ideal for both major and mid-tier developers.

Location	Bayshore
Region	Outside Central Region (OCR)
Planning Area	Bedok
Site Area	1.05 HA / 10,500 sqm (113,021 sqft)
Gross Plot Ratio	4.2
Land Use Zoning	Residential (non-landed)
Maximum Gross Floor Area (GFA)	44,100 sqm (474,688 sqft)
Estimated Housing Units	515

2. Developer Competition and Record Bid

Intensity of Bidding
The tender attracted eight bids, marking the highest turnout for a private residential GLS since Jalan Tembusu in 2022.

Winning Bid Details

Winner: Sing-Haiyi Garnet (a JV between SingHaiyi Group and Haiyi Holdings) – S$658.9 million.
Land Rate: S$1,388 psf ppr.

Competitive Margin and Market Sentiment

The winning bid exceeded the next highest offer by a mere 0.8%, reflecting closely matched valuations.
Notably, business analysts also interpret the ~20% premium over some expectations as an indicator of developer confidence in this site’s potential.

3. Record-Breaking Suburban GLS Benchmark

New Highest Suburban GLS Land Rate
At S$1,388 psf ppr, this surpasses the previous OCR (Outside Central Region) record held by Clementi Avenue 1 (S$1,250 psf ppr) and slightly exceeds Lorong 1 Toa Payoh (S$1,360 psf ppr).

Blurring of Market Segments
The land rate even rivals those seen in RCR and CCR GLS plots—such as Zion Road (RCR) at S$1,202–1,304 psf ppr and Holland Drive (CCR) at S$1,285 psf ppr—indicating developers are increasingly valuing site merit over zoning labels.

4. Why the Fierce Developer Interest?

4.1 First Movers in a New Waterfront Precinct

Located in the 60 ha Bayshore precinct, this is the first private residential site released under a master plan aiming to deliver 3,000 private and 7,000 HDB flats (~10,000 new homes). Developers coveted the first-mover advantage in shaping this new East Coast estate.

4.2 Excellent Connectivity

Bayshore MRT Station, at the doorstep and part of TEL Stage 4, opened 23 June 2024, providing seamless access to Downtown and beyond.
Proximity to East Coast Parkway (ECP) ensures fast private-vehicle access to city center and Changi Airport (approx. 15-minute drive).

4.3 Lifestyle and Scenic Appeal

Some future units are expected to offer unobstructed sea views and direct access to East Coast Park, elevating their desirability.

4.4 Pent-up Demand from Upgraders and Investors

No significant private condo launch in Bayshore since Costa Del Sol (2000) or The Bayshore (~1990s), creating pent-up demand.
Potential buyers include:
- HDB upgraders from Marine Parade and Bedok; around 2,012 flats will fulfill their MOP within two years, offering financial flexibility for condo upgrades.
- Landed homeowners from enclaves like Kew and Sennett estates seeking modern, low-maintenance living.
- Investors drawn by rental prospects and strong locational attributes.

4.5 Developer-Friendly Scale

The site’s modest yet substantial scale appealed to mid-tier developers with lower risk appetites, allowing for aggressive, yet manageable bids.

5. Site’s Value Drivers and Visionary Planning

5.1 Masterplan

Bayshore will be a new housing estate, planned as an extension of Bedok town. It is located along East Coast Park, with two MRT Stations (Bayshore and Bedok South) within the estate. Designated as a car-lite district, there will be a transit proximity corridor that acts as a community spine with sheltered walkways and cycling paths. The entire estate will inject approximately 10,000 new homes, of which around 30% is meant for private housing. Bayshore is zoned as a car-lite precinct.

The Masterplan for Bayshore area is set to enhance overall connectivity and increase the availability of amenities in the area for residents, both existing and new. As a new estate, there will be smart and sustainable features, while the living environment will encourage active lifestyles and healthy living.

The plot is the first private residential site in the up-and-coming Bayshore precinct and an inaugural project under the Bayshore Master Plan.

5.2 Car-Lite, Sustainable Urban Design

The Bayshore MRT Station will serve residents, located just across the road. Being on the Thomson-East Coast Line (TEL), commuters can travel directly to Marina Bay, Orchard, Upper Thomson and Woodlands.

For drivers, there is direct access to major roads such as the East Coast Parkway (ECP) Expressway which directly connects to central Singapore within a 15-minute commute time and Changi Airport.

Additional cycling networks will be developed in-line with the government’s vision to develop a car-lite neighbourhood, while connecting Bayshore with Round Island Route and the upcoming corridor from East Coast Park to Changi Beach.

The Bayshore precinct has been designated as a car-lite development, featuring dedicated walking and cycling networks, wider pavements, and proximity to public transportation.

5.3 Green and Transit-Oriented Design

Plans include a 1 km public transit street, green corridors, and integration with Cycle Round Island Route, linking Bayshore to East Coast Park and Changi Beach.

5.4 Infrastructure Enhancements

LTA plans include a new flyover to ECP by 2030, a bus-priority transit corridor, cycling paths along the flyover, and improved connectivity to Bedok South MRT station (opening 2H 2026).

5.5 Community Amenities and Planning Synergies

School	Distance to site
Temasek Primary School	Within 1km
Temasek Secondary School	Within 1km
Bedok Green Primary School	Between 1km to 2km
Bedok View Secondary School	Between 1km to 2km
Victoria School (Secondary)	Between 1km to 2km
Bedok South Secondary School	Between 1km to 2km

Within a 1–2 km radius are educational institutions such as Temasek Primary, Secondary, and Junior College, and upcoming mixed-use developments above Bedok South MRT.

By 2026, another three stations (Bedok South, Sungei Bedok and Xilin) will be completed. This will provide residents with rail access to the Singapore University of Technology and Design (SUTD), the only university in the east.

6. Launch Price Forecasts & Market Impact

Expected Selling Prices
Analysts project launch prices from S$2,500–2,700 psf, with averages above S$2,800 psf depending on design and fit-out quality.

Broader Market Significance

The top bid surpassing recent RCR/CCR rates signals that location quality now trumps regional classification in developer assessment.
The sale reaffirms strong market resilience and renewed buyer sentiment since late 2024’s buoyant new home launches in Singapore.
From 2020 to 2024 September, the median price psf of non-landed homes in Bayshore, District 16 and OCR have increased by 29.7%, 30.5% and 24.7% respectively. The growth in all areas are relatively paced at the same rate, with District 16 leading the increase in prices.

Planning Area/District	Median Prices of Properties in 3Q 2020	Median Prices of Properties in 3Q 2024	% Change in Median Price
Bayshore	$1,161	$1,506	29.7%
District 16	$1,161	$1,515	30.5%
Outside Central Region	$1,318	$1,643	24.7%

However, prices in District 16 could have been propped up by new launches in the area, whereas median prices in Bayshore are based on recorded resale transactions given the lack of new projects.

7. Potential Demand/Buyer Profile

With the Bayshore area being largely undeveloped since existing projects launched more than two decades ago, the addition of 515 out of an estimated 3,000 new private homes leads major initiatives in rejuvenating the area.

The site could also potentially attract HDB upgraders given that an estimated 2,012 flats will also fulfil their MOP within the next two years. The median price of 5-room and 4-room flats of less than 15 years transacted in Bedok at $976,500 and $815,000 respectively from January 2024, which could contribute to the down payment for a new home in Bayshore.

The Bayshore area is located in proximity to numerous private landed housing enclaves, such as the Kew and Sennett Estates. Demand could come from the sizable population of landed home owners, with older owners seeking to right-size their homes, or from larger families who want to live in the same project.

The last new launch at Siglap Road (Seaside Residences) in April 2017 saw 70% of released units sold at launch. With 60% of the buyers identified from the East, the new launch with an attractive location and pricing highlights the pent-up demand in the area.

Buyers who see owning a private property as a long-term investment may see this Bayshore development as a viable option. Although future HDB estates nearby in Bayshore are likely to be classified as Plus, they could still generate upgrader demand. This provides a potential exit strategy in the future, as they could then right-size if they choose to.

While we can expect strong demand for this estate, developers having a strategic unit mix will be crucial for Bayshore Road’s eventual developer to address the diverse needs of different buyer segments. This includes catering to investors seeking rental opportunities, landed property owners right-sizing from nearby enclaves like the Kew and Sennett estates, and families (including HDB upgraders) relocating from nearby Tampines and Bedok.

With the right unit mix and pricing, we can expect the future development to be poised to draw significant buyer interest from aspiring first-movers, as well as upgraders. Homeowners from the many nearby projects, which are at least 20 years old, may consider moving to a brand-new development with the same locational attributes and a refreshed lease.

8. Multitude of Opportunities to be Leveraged on by Developers

Older condos along East Coast Parkway have significant en bloc potential, however, they could be unsuccessful due to the development’s large size. Previous en-bloc efforts of Laguna Park have failed, with the most recent tender in 2019 at $1.48 billion closing with no applicants. Mandarin Gardens had also failed to secure the required 80% threshold. A successful en bloc launch of the development could have seen reserve price of $2.88 billion ($953 psf ppr).

The last GLS site along East Coast Parkway at Siglap Road (Seaside Residences) was awarded at $624 mil ($858 psf ppr) to the highest of eight bids in 2017. The site’s premium location boasting the unique characteristic of sea views could have attracted developers to contend for the site.

Bayshore Road site is one of the more attractive sites on the 2024 GLS Confirmed List. Having observed lukewarm responses for previous sites, developers could have withheld bids to attempt competing for Bayshore.

The palatable size of the development could also be an attractive attribute for smaller developers, which they can leverage on to place competitive bids with lower risks.

9. Developer Sentiment & Market Interpretation

Analyst Commentary on Bidding Behavior

ERA’s Marcus Chu noted strong developer interest due to site appeal and manageable size, leading to aggressive bids.
Knight Frank (Leonard Tay) emphasized that developers held back on other tenders to focus on Bayshore, given its attractive positioning.
PropNex’s Wong Siew Ying described the result as bullish, pointing to pent-up demand and first-mover advantage as key motivators.

Individual comments:

“With no new private homes in Bayshore for over 20 years… we may expect keen demand for the future project here when it is launched.” — Justin Quek, OrangeTee & Tie Singapore Business Review.

10. Developers Could Compete for First-Mover Advantage in New Township

The Bayshore Road site marks the first GLS site in Bedok since 2020 and Bayshore area since 1997, highlighting the scarcity of new private residential homes. Given its prime location next to an MRT station, developers are more willing to fork out a premium to secure the attractive site.

The upcoming Bayshore estate also draws similarities to the township development in Lentor whereby new launches in the area consecutively set the bar for future launch prices. It will be in the developers’ best interest to leverage on first-mover advantage in penetrating the market for private residential homes in Bayshore.

The wave of new launches in November garnered overwhelming response. Emerald of Katong achieved a record-high with 99% of the development sold, along with Chuan Park with 76% sales during its launch weekend. This strong indication of homebuyer optimism could translate to strong developer confidence in future GLS performance.

11. Future Outlook and Strategic Considerations for Developers

11.1 Importance of Unit Mix

To satisfy diverse buyer segments—investors, HDB upgraders, and right-sizers—developers must craft a strategic mix of unit types (e.g., compact 1-bedroom through family-oriented 4-bedroom units) and price points.

11.2 Phased Construction and Launch Timeline

Given land tender in March 2025, planning, permits, and construction suggest launches likely from late 2026 onwards, with completion over the early 2030s.
In parallel, HDB’s Bayshore Vista and Bayshore Palms (BTO) were launched in October 2024, and future precinct development will follow incrementally.

11.3 Positioning as a Signature East Coast Coastal Development

With its core attributes—sea views, seamless connectivity, and sustainable precinct design—the project has the potential to become a flagship in East Coast living.

12. Frequently Asked Questions

Q1: Why did the Bayshore GLS attract so many bids?
A: It combined a strategic location (MRT and ECP), sea-views, pent-up demand due to no major launches since 2000, and manageable parcel size—boosting developer confidence.

Q2: What are expected selling prices for new units?
A: Industry analysts estimate S$2,500–2,700 psf entry-level prices, with averages above S$2,800 psf, depending on design and finishes.

Q3: What infrastructure will support resident lifestyle?
A: Features include Bayshore MRT (TEL), ECP access, upcoming flyover and transit corridor, educational amenities, green pedestrian/cycling paths, and future mixed-use nodes.

Conclusion

The Bayshore Road GLS site attracted strong developer interest, with eight bidders competing in a highly competitive round. Sing-Haiyi Garnet had the highest bid of $658.8 million ($1,388 psf ppr), narrowly edging out the next highest bidder by 0.8%.

Despite headwinds faced by developers in the market, the Bayshore site is one of the land parcels many developers have been waiting for this year. The site’s allure and expected pent-up demand from buyers could give them confidence and provide the impetus for the aggressive bidding. Moreover, the plot’s palatable size could be draw for smaller-scale developers which resulted in the strong interest.

While bids amongst the top four bidders were aggressive, with a difference of 8%, there was a significant 35.9% gap between the lowest and highest bids. This reflects mixed market sentiments and the buying appetite of future buyers. Nonetheless, this site sets a new OCR land price benchmark, surpassing previous records in Clementi (now Elta) while being similar to Toa Payoh (now The Orie) in the RCR.

News

July–August 2025 New Launch Surge: What It Means for Buyers

By James Lim,August 21, 2025February 16, 2026

July–August 2025 New Launch Surge: What It Means for Condo Buyers in Singapore

If you’re eyeing a new condo upgrade this year, things just got interesting. July 2025 saw a massive rebound in new private home sales. And if early August is anything to go by—you’re going to want to sit up and pay attention. More launches, strong take-up, and cooling price gaps between core and fringe zones are shaking up what buyers can expect. Here’s what’s really going on—without the fluff.

1. Sales Spiked—Why It Matters

High Transaction Volume in Aug 2025 — Spike in Price and Volume in Aug 2025

In July, developers moved 940 new private homes (excluding executive condos)—a 245.6% jump from June and 63.2% higher year-on-year. That means buyers are back. Property demand is turning up the heat again.

And the action didn’t stop there. Early August saw three big launches—River Green, Promenade Peak, and Canberra Crescent Residences—sell over 900 units in just the first two weeks. We could see more than 1,500 total new home sales by end of August, the strongest monthly tally since late 2024.

2. Where the Buyers Are Coming In

Rest of Central Region (RCR) continued to shine, owning over half of July’s sales. LyndenWoods sold out 331 units at a median of S$2,463 psf with a stunning 97% take-up.

Meanwhile, Core Central Region (CCR) came roaring back. Projects like The Robertson Opus and UpperHouse at Orchard Boulevard together accounted for 357 units—CCR’s best monthly showing in over four years. Their median prices clocked above S$3,250 psf.

OCR demand was quieter—but that’s about to change as new launches like Canberra Crescent and Springleaf pick up steam.

3. What Drove the Buying Boom?

Declining New Home — Limited Supply in Singapore Property Market

Sweet-spot pricing: Many units were priced under S$2.5m, keeping them attractive even in CCR. About 73% of LyndenWoods units fell under that threshold.
Local buyer dominance: Singaporeans made up 86% of purchases, PRs about 12%. Foreign demand remains modest.
Luxury segment recovery: A handful of S$5m+ deals, including a duplex penthouse at 21 Anderson for S$52m, show high-end demand remains resilient.
Limited Supply: Declining New Home Supply with lower than average unsold units in the market.

4. What It Means for You (If You’re Upgrading)

Signal	Meaning for Buyers
RCR launching strong	Jump early into fringe projects for better value
CCR comeback	Prime luxury returns—value narrowing vs RCR
Strong local uptake	Be ready to move fast; months-long decision windows may be gone
August supply boost	More choices—but competition will be fierce

5. August Outlook and Beyond

Up and Down of Singapore's Private Housing Market — Price trend of Singapore Housing Market

Experts expect Q3 2025 to finish with 4,500 new units launched, and full-year developer sales (excluding ECs) could hit 8,000 to 9,000—way ahead of 2023 and 2024. That means more options and potentially more value—but prices are likely to hold firm.

Conclusion

July’s rebound tells us buyers are confident again. Whether you’re upgrading soon or planning ahead, the window is opening—but it won’t stay open forever. If you’ve been waiting on the sidelines hoping for prices to soften, you might be too late.

Pro tip: Start watching upcoming projects now, especially in RCR. Check developer pricing, sales pace, and compare PSF before making your move. Competitive launches are returning—and early buyers stand to gain.

HDB Price Trend and Number of Transactions

News

2Q 2025 Private & HDB Report: What Upgraders Must Know 🏡

By James Lim,July 27, 2025April 3, 2026

Q2 2025 Private Residential & HDB Resale Report: What Upgraders Must Know

Singapore’s property market in 2Q 2025 remained remarkably resilient, even as transaction volumes softened. For upgraders planning the leap from HDB to private homes, these insights are essential in shaping your timing and strategy.

🔹 Private Residential Market: Prices Gain, Volumes Dip

Singapore Private Condominium Price Index Q2 2025 — Private Condo Price Index 2012-2025

URA’s flash data shows private home prices up 0.5% quarter-on-quarter, reflecting steady demand despite 40.2% fewer transactions (4,340 units) compared to Q1 2025

CCR units (Central Core Region) saw the strongest price rise at +2.3% q-o-q
OCR segment (Outside Central Region) grew 0.9% q-o-q
RCR region (Rest of Central Region) saw a mild 1.1% decline

What’s behind it?

Calendar factors like elections and June school holidays slowed new project launches
Recent CCR projects—such as Bloomsbury Residences, One Marina Gardens, 21 Anderson, and Arina East—offered boutique, freehold options that drew discerning buyers

On resale and sub-sale private properties:

Resale transactions fell 18.6% to 2,547 units
Sub-sale dipped 37.9% to 187 units
But resale prices still climbed 1.8% (median $1,749 psf), and sub-sale remained elevated (~$2,059 psf)

What this means for upgraders:

Fewer new launches mean strong pricing on proven private homes.
CCR remains the standout growth potential, especially boutique freehold offerings.
Secondary market still offers attractive pricing if you’re ready to move fast.

🔹 HDB Resale: Record Prices, Tight Supply

Meanwhile, HDB resale prices continue their steady climb, reaching an RPI of 202.8 (+0.9% q-o-q) in Q2 2025—marking 21 straight quarters of growth.

However, transaction numbers slid to 6,981 units (−5% y-o-y)—a seasonal lull amid holiday calm and the upcoming July BTO/SBF launches.

Key trends:

MOP supply hit a decade low, with only 6,974 flats eligible—an 11-year low—tightening central estate resale options.
A record 408 flats – mostly 4-room units in mature estates – crossed the $1 million mark.
Yet ~73% of flats remain within affordability range:
- 50% priced S$500k–750k
- 23% at S$250k–500k

Why it matters for upgraders:

Higher resale prices mean your HDB can generate more cashflow toward your private property deposit.
Low supply plus BTO/SBF delays makes timely resale action critical.

Why Fewer Transactions Didn’t Sink Prices

While overall demand eased slightly, steadfast demand in mature estates and a strong labour market helped support prices. Despite weaker economic forecasts, including Singapore’s 2025 GDP growth being revised down to 0–2%, unemployment remains low—providing stability for housing demand ERA.

Additionally, the upcoming July BTO and SBF exercises—which will add around 8,500 units across popular estates like Bukit Merah, Clementi, Toa Payoh, Tampines, and Simei—led some buyers to pause resale purchases, with many expected to return if they miss out on these flats.

MOP Supply Hits Decade-Low; Million-Dollar Flats on the Rise

Total Number of MOP Flats Upcoming — No of MOP Flats

Only 6,974 HDB flats will reach Minimum Occupation Period (MOP) in 2025—the fewest since 2014—limiting fresh resale supply, particularly in central estates. As a result, pricier homes stayed resilient: 408 flats sold for S$1 million or more in Q2 (4.4% of all transactions), up from 384 in Q1 and 236 a year ago. Notably, many were 4-room flats in mature areas, underscoring strong demand among home-upgraders and private-property right-sizers.

Despite luxury activity, three-quarters of resale flats remained within reach: 50% between S$500k–750k, and 23% between S$250k–500k, making them attractive to average-income buyers.

Policy Shifts Could Benefit Private Upgraders

Discussions are underway to abolish the 15-month wait-out period that requires private-home owners to wait before buying a resale flat. With MOP-supply set to surge in 2026–27, removing this rule could offer private-home owners greater flexibility to right-size

🔹 Market Outlook: Timing Is Everything

Private market:

4,154 units expected in Q3 2025 (15 total launches in 2H), with CCR leading the recovery.
Expect steady sales momentum in RCR and OCR.

HDB resale:

BTO/SBF in July may temporarily relieve demand—but unsuccessful applicants may return to resale in 2H.
The 15-month wait-out period for downgrading private property owners may be scrapped soon—boosting flexibility for right-sizers.

What This Means for Home-Upgraders in 2025

Stable Price Growth: Expect HDB prices to rise around 3–6% annually, supported by low supply and steady demand.
Smart Entry Strategy: With fewer flats hitting MOP this year, competition for resale flats—especially in mature estates—is strong.
Watch July BTO/SBF Results: If unsuccessful, many buyers will re-enter the resale market, adding momentum.
Policy Relief Soon?: Removing the wait-out rule could ease private-home planners transitioning back to resale flats.

✅ Strategy Tips for Singapore Upgraders

Consideration	What It Means
HDB resale pricing	Higher sale value funds bigger deposits
Private launch timing	Guard against supply dips in Q2, H2 recovery in Q3
CCR launches	Ideal for long-term private buyers
Policy tweaks	Watch for wait-out period removal

🔹 Final Word

In Q2 2025, both private and HDB resale sectors showed strength—prices holding firm even as volumes softened. For home-upgraders, this offers clarity: leverage strong resale prices, time your purchase around launch cycles, and prepare to move decisively once supply picks up.

For upgraders eyeing a private property purchase, Q2 2025 was proof that HDB resale remains a resilient stepping stone. Whether waiting out BTO cycles, strategising timing, or preparing for policy loosening, the market today favors those who stay informed and act purposefully.

Ready to map your upgrade journey? Book a tailored strategy session at sgluxurycondo.com today.

News

New SSD Rates – Impact on Singapore Property Market

By James Lim,July 4, 2025July 4, 2025

4-Year SSD Returns in 2025—What It Means for Property Prices

On 4 July 2025, the Singapore government officially reinstated the 4-year Seller’s Stamp Duty (SSD) holding period, a move aimed squarely at cooling speculative activity in the property market. The change applies to residential properties purchased from 12:00 am on 4 July 2025, and marks a significant policy reversal from the SSD relaxation in 2017.

But what does this mean for homebuyers, investors, and developers in 2025 and beyond?

Why the Government Reinstated 4-Year SSD

Over the past year, Singapore has seen a surge in short-term speculative activity, especially sub-sales in the new launch market. In fact, 2024 recorded over 1,300 sub-sale transactions, the highest level in more than a decade. This uptick raised concerns of a frothy market driven more by flipping than fundamentals.

To address this, the government:

Extended the SSD holding period from 3 to 4 years
Reverted the SSD rates to the pre-2017 levels (up to 16% if sold within the first year)

This is a clear signal: flipping properties for quick gains is no longer welcome.

Impact on Property Prices and Market Activity

URA Property Price Index vs Volume transacted — URA private home price index & private home sales volume

1. Sub-sale Activity Expected to Drop

Looking back at Jan 2011 when SSD kicks in, the total sub-sale units reduced to less than 500 sub-sale transactions in 2014. That shows the effectiveness of the SSD policy.

2. Price Growth Likely to Slow

With reduced demand from speculators, price escalation is expected to moderate, especially in previously hot zones like OCR new launches and RCR fringe projects. Developers may be forced to adjust their pricing and launch strategy to target long-term owner-occupiers.

3. Market May Become More Stable

By encouraging longer holding periods, the revised SSD discourages “musical chairs” investment behaviour. Over time, this can help build a healthier, more sustainable property market grounded in real demand.

A Brief History of SSD in Singapore

Year	SSD Holding Period	Maximum SSD Rate (Year 1)
2011	4 years	16%
2017	3 years	12%
2025	4 years	16%

The SSD was originally introduced in 2010 to curb property flipping during a red-hot market. After being relaxed in 2017, speculative buying gradually returned, culminating in today’s policy reset.

What It Means for Buyers & Investors in 2025

If you’re considering buying a new launch condo, this policy shift should factor into your decision. You’ll need to:

Hold the property for at least 4 years to avoid SSD
Be more selective—layouts, location, and growth potential matter more now. Look for properties in areas with URA transformation in the 5-7 years horizon rather than the 3 years horizon. Also, look for locations with strong tenancy pool.
Think long-term: this is a market geared toward owner-occupiers and investors with a 5–10 year horizon

Final Thoughts: Stability Over Speculation

The return of the 4-year SSD is a cooling measure meant to reset the tone of the property market. While it may create short-term uncertainty—particularly in sub-sale and new launch volumes—it lays the groundwork for a more balanced and sustainable market in the long run.

For savvy homebuyers and long-term investors, this could mean more realistic pricing, less competition from flippers, and better opportunities for capital appreciation.

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Guide News

H2 2025 Singapore Property Outlook: Key Trends & Opportunities

By James Lim,June 20, 2025April 6, 2026

H2 2025 Singapore Property Outlook: Key Trends and Opportunities

I will be looking understanding where and why these developments are trending can help you make a smarter decision.

Here’s a breakdown of what to expect—and where the best opportunities lie.

Luxury Redefined: Core Central Region (CCR) Leads the Way

The CCR has always been synonymous with prestige, but as the saying goes: “Luxury is not a price, it is an experience.” This rings true for upcoming high-end projects like:

UpperHouse (Orchard Boulevard)
River Green (River Valley Green)

Why CCR?

Demand Shift: Investors and high-net-worth individuals are eyeing CCR for its stability and long-term value.
Undervalue: price of CCR is very close to RCR making CCR more of a value buy.

Tip for Investors: If you’re looking for a value buy, now might be the time to enter the CCR market before the next upswing.

RCR (Rest of Central Region): Balanced Growth & Accessibility

The RCR strikes a perfect balance between affordability and prime location. Key launches include:

Lyndenwoods (Science Park)
Magaret Drive GLS (Margaret Drive)

Why RCR?

Cheaper Land Prices: Compared to CCR, RCR offers more competitive pricing with good amenities.
Strong Location & Amenities: Located in high demand location near amenities and MRT.

Tip for First-Time Buyers: RCR provides a sweet spot—close to the city without the CCR price tag.

OCR (Outside Central Region): Affordable & High Growth Potential

For budget-conscious buyers, the OCR remains a strong contender with projects like:

Canberra Crescent Residences (Canberra Crescent)
Springleaf Residences (Springleaf)

Why OCR?

Price Increases Expected: OCR is poised for growth due to rising demand from families and upgraders.
Great Amenities: These areas often offer larger spaces, greenery, and excellent schools.

Tip for Investors & Buyers: OCR’s affordability and growth potential make it ideal for long-term gains.

Final Thoughts: Where Should You Buy?

CCR: Best for investors seeking stability and luxury.
RCR: Ideal for first-time buyers who want a balance of location and price.
OCR: Perfect for those prioritizing affordability and future appreciation.

Of the 15 project launches in second half of 2025, I have curated the top 2 of each sector. These 6 will be highly in demand.

With 6,574 new units launching, H2 2025 presents a golden opportunity—whether you’re stepping into the market for the first time or expanding your portfolio. Stay informed, act wisely, and remember: in real estate, the best decisions are made with both data and foresight.

Ready to explore these opportunities? Contact me today for personalized advice!

Guide News

Finding Undervalue Properties in 2025

By James Lim,April 21, 2025April 2, 2026

Finding Under-Value Properties in 2025

In my previous article, I was doing a property market review for Q1 2025 and in 1 of my slides, I talk about the property price index for the different regions of Singapore. Some clients as me for more information and details and in today’s view, I will be sharing which district in Core Central Region (CCR) where you can find the most value.

Finding undervalued properties in Singapore can be a strategic way to maximize your investment returns. By identifying properties priced below their market value, you can capitalize on potential appreciation and rental income. Here is how I use the Property Price Index by Region and District to determine which District is best to invest into.

Property Price index via Region

The above is the Property Price Index (PPI) for the different region of Singapore primary the Core Central Region (CCR), Rest of Central Region (RCR) and the Outside of Central Region (OCR).

Base on my previous news article, I mention that the most undervalue is the CCR. I will be studying the PPI of the different district of CCR to find which gives the most value.

I will be using data from 2018 onwards as 2018 has the smallest price difference as compared to RCR.

PPI on Core Central Region

Between 2018 and early 2025, Singapore’s private residential property market experienced notable fluctuations influenced by economic conditions, policy interventions, and global events. Here’s a concise overview of the key trends during this period:

📈 2018–2019: Stable Growth Amid Cooling Measures

In 2018, the market saw moderate growth, which was tempered by the government’s in troduction of cooling measures in July, including increased Additional Buyer’s Stamp Duty (ABSD) rates and tightened Loan-to-Value (LTV) limits. These policies aimed to curb speculative buying and ensure sustainable price growth. Consequently, property prices stabilized, maintaining a steady trajectory into 2019.

🌐 2020: COVID-19 Induced Slowdown

The onset of the COVID-19 pandemic in early 2020 led to economic uncertainty and a temporary slowdown in the property market. Circuit breaker measures and travel restrictions affected transaction volume. However, the market demonstrated resilience, with prices experiencing only a slight dip before rebounding in the latter half of the year as restrictions eased and buyer confidence returned.

🚀 2021–2022: Robust Recovery and Price Surge

The years 2021 and 2022 marked a period of strong recovery and significant price appreciation. Factors contributing to this surge included low-interest rates, pent-up demand, and limited new supply. According to the Urban Redevelopment Authority (URA), private home prices increased by 8.6% in 2022, following a 6.8% rise in 2021.

📉 2023: Market Stabilization

In 2023, the market began to stabilize as the effects of earlier cooling measures took hold. The URA’s data indicated a moderation in price growth, with the private residential property price index showing a more tempered increase compared to the previous two years. This period was characterized by cautious optimism, with buyers and developers adjusting to the new regulatory environment.

🔄 2024–Early 2025: Fluctuations and Moderation

Q1 202: The market experienced a rebound, with private home prices rising by 2.3% quarter-on-quarter, driven by strong demand in various segments.
Q3 202: Prices declined by 0.7% quarter-on-quarter, marking the first drop in five quarters, attributed to high interest rates and property curbs.
Q4 202: A recovery ensued, with prices increasing by 2.3% quarter-on-quarter, the fastest pace since Q3 2023, fueled by a surge in year-end sales.
Q1 202: The growth moderated to a 0.6% quarter-on-quarter increase, reflecting a cooling in price momentum across all market segments.

As of Q4 2024, the URA’s private residential property price index reached an all-time high of 209.4 points, indicating a significant appreciation from previous years.

Property Price Index for District 1

Although prices grew by 6% from 2018 to 2025, however, the overall trend is still negative downwards. Q4 2024 has a huge spike and is held by Q1 2025. Perhaps we should see Q2 2025 pricing to make a more informed decision. However, this type of negative trend data shows very promising prices of undervalue properties. If you are such person to buy investments that are negative in trend, District 1 properties is for you.

Property Price Index for District 2

District 2, primary in Tanjong Pagar shows a flat trend line. Is neither good nor bad. Very suitable for people who are looking to buy just to rent out their properties as it is very stable.

Property Price Index for District 9

Although prices increase from 2018 to 2025 is only at a 2% increase, I see there is a lot of potential in this location. The trend line is increasing but not steep. Personally for me, this is the best form of investment to go as it has an upward trend and we are just waiting for it to spike to catch up with the rest of the Singapore market. I would strongly recommend this type of trend line.

Property Price Index for District 10-11

The trend line of both district 10 and 11 are very similar, increasing growth of 25 and 33% respectively. This growth rate is very similar to RCR and OCR so there is not much difference. I would ask to avoid this areas as buying here does not give you much undervalue.

Why the Behaviour of District 1 and 9?

District 1 and 9 are primary bought either by investors or foreigners (who are investors themselves). Due to the high ABSD rate of 60%, foreigners can’t enter into this market. As such, it became more open to local Singaporeans who can find more value in these districts.

Moreover, property prices here are not consider cheap as compared to OCR. However, if RCR prices do catch up to close to CCR prices, homebuyers and investors will start to shift their focus to CCR as just by paying a bit more, they will be able to afford a better location property.

Do not be surprise, if Singapore were to be in a recession or greatly affect by the Trump’s Tariffs, the Singapore Government may reduce the ABSD for foreigners purchasing properties and this will cause a huge floodgate for foreign buyers which will cause district 1 and 9 to spike!

The golden question is when will this happen. No one knows but it’s a huge gamble I am willing to take if I am an investor looking for undervalue properties.

Non Landed Units sold and URA Property Price index for Non-Landed Properties

News

Q1 2025 Property Market Analysis & Research

By James Lim,April 14, 2025April 14, 2025

Singapore Residential Property Market Update: Q1 2025

Price and Sales Trends

According to preliminary data from the Urban Redevelopment Authority (URA), the private non-landed residential market (excluding Executive Condominiums) recorded a modest quarter-on-quarter price growth of 0.6% and an annual increase of 4.3% in Q1 2025. These gains were primarily driven by new project launches in fringe and suburban districts. Despite ongoing momentum from late 2024, the pace of price growth appears to be moderating, signaling a potential stabilization in market conditions.

Sales activity remained resilient, with 3,310 new units sold during the quarter—marginally lower than the 3,368 units in Q4 2024. The strong performance was supported by more favorable interest rate conditions, which encouraged previously cautious buyers to enter the market. Purchasers were particularly drawn to new launches due to phased payment structures and the appeal of modern developments with full amenities.

Secondary market activity, however, declined. The number of resale transactions fell by 20.3% quarter-on-quarter to 2,775 units. Overall, the non-landed residential market recorded a total of 6,085 transactions, down 11.2% from the previous quarter but 54.0% higher than the same period in 2024.

Regional Market Insights

Core Central Region (CCR)

The CCR saw a 41.2% rise in new home sales, reaching 185 units in Q1 2025. This increase was bolstered by promotional activity at developments like One Bernam and Aurea. However, secondary sales in the region declined by 14.9%, resulting in a total transaction volume of 681 units—4.6% lower than Q4 2024. With foreign buyer interest still muted due to elevated Additional Buyer’s Stamp Duty (ABSD) rates, prices in CCR grew only modestly at 0.6% q-o-q and 1.7% y-o-y.

Rest of Central Region (RCR)

In the RCR, prices grew by 1.0% q-o-q and 6.5% y-o-y. These increases were largely supported by the launch of The Orie, which sold approximately 86% of its 668 units at an average of S$2,704 psf. However, overall sales volume declined significantly. New transactions fell by nearly half (49.7% q-o-q), and total regional transactions were down 38.9% to 1,836 units.

Outside Central Region (OCR)

The OCR emerged as the most active submarket during the quarter. Prices rose by 0.3% q-o-q and 3.8% y-o-y. New launches such as Lentor Central Residences, Parktown Residence, Elta, and Bagnall Haus reported strong take-up rates ranging from 61% to 93%. New sales surged by 57.4% to 2,199 units, although resale activity declined by 21.1%. On balance, the OCR experienced a 13.9% increase in overall sales to 3,568 units.

Rental Market Developments

Rental Price and Volume from 2020 to 2025 — Rental Transaction over 5 years 2020 to 2025

Leasing activity for non-landed private homes totaled 12,576 contracts in the first two months of 2025—a 4.7% rise from the previous two-month period and 1.7% higher year-on-year. Rents edged up by 1–2% across most market segments, with the exception of the ultra-luxury tier, which saw a 3% decline. Vacancy levels were higher for one- and two-bedroom units, suggesting that landlords in these categories may need to recalibrate rental expectations.

Market Outlook

The pricing gap between prime and non-prime residential regions continues to narrow, as new projects in the RCR and OCR command prices approaching those in the CCR. Limited new launches in the CCR have meant that sales largely comprise residual units, with interest from local high-net-worth individuals and permanent residents replacing foreign demand.

Looking ahead, Knight Frank forecasts that new home sales in 2025 could range between 7,000 and 9,000 units, assuming no introduction of additional cooling measures. Overall, the market is expected to transact between 19,000 and 23,000 non-landed units for the year, with prices projected to rise by 3% to 5%.