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