Singapore New Home Sales Ease to 325 Units in November 2025 — Year-End Pause After October Surge
AsianPrime Monthly Market Recap • November 2025
November 2025: Sales Moderate to 325 Units as Developers Hold Back Launches for 2026
Singapore’s private new home market downshifted in November 2025, with developers selling 325 units (excluding ECs) — an 86.6% pullback from October’s blockbuster 2,424 units and 87.3% below November 2024’s 2,560 units. With only one new project launched and just 347 units released, this was a supply-led moderation rather than a demand shock, as developers held back major releases for 2026 amid the year-end holiday window.
Units Sold (excl. EC)
MoM Change
YoY Change
YTD Units (est.)
The Sen Leads a Quiet Month
With only one new launch during the month, sales leadership was concentrated. The Sen (RCR) emerged as November’s best-seller, moving 77 units at a median of S$2,339 psf — a healthy pace for a year-end window that suggests buyers remained responsive to projects balancing location, amenities, and attainable price quantum.
Beyond The Sen, the strongest contributors were largely city-fringe developments clearing remaining inventory from earlier launches. This reinforced the narrative that the RCR segment — the “middle ground” between prime pricing and mass-market accessibility — remains the most liquid segment in the primary market during quieter or uncertain periods.
Regional Breakdown: RCR Holds Dominant Share
The Rest of Central Region (RCR) led the market with 215 units (66.2% share), reflecting the durable preference for city-fringe locations that offer connectivity and lifestyle amenities without prime-district pricing. The Outside Central Region (OCR) recorded 80 units (24.6%), driven by continued absorption of OCR projects near established amenities and transport links. The Core Central Region (CCR) contributed just 30 units (9.2%), as luxury activity cooled with year-end seasonality and a narrower set of available options.
| Region | Nov 2024 | Oct 2025 | Nov 2025 | MoM | YoY |
|---|---|---|---|---|---|
| CCR | 890 | 724 | 30 | -95.9% | -96.6% |
| RCR | 1,569 | 1,225 | 215 | -82.4% | -86.3% |
| OCR | 98 | 475 | 80 | -83.2% | -18.4% |
2025 Full-Year Outlook: A Standout Year
Across the first eleven months of 2025, new home sales (excluding ECs) were estimated at approximately 10,600 to 10,800 units — already comfortably above 2024’s full-year total of 6,469. With December expected to remain seasonally soft as the market enters the holiday window, consensus estimates pointed to 2025 closing just under 11,000 units — a remarkable recovery and the strongest annual showing since the 2021 boom.
Looking ahead, most market commentaries flagged a tighter launch pipeline in 2026 compared to 2025. Fewer large-scale launches could keep demand competing for a smaller pool of new supply, particularly in the city-fringe segment. This supply constraint, combined with favourable borrowing conditions and steady domestic fundamentals, may support pricing resilience even as overall transaction volumes normalise from 2025’s elevated base.
Frequently Asked Questions
How many new homes were sold in Singapore in November 2025?
Developers sold 325 private residential units (excluding ECs) in November 2025, down 86.6% from October’s 2,424 units and 87.3% lower than November 2024’s 2,560 units.
Why did November 2025 sales drop so sharply?
The decline was supply-driven — only one new project (The Sen) was launched, and just 347 units were released. Developers held back major launches for 2026, creating a supply gap rather than indicating weakening demand.
Which region performed best in November 2025?
The Rest of Central Region (RCR) led with 215 units, capturing 66.2% market share. City-fringe developments continued to be the most liquid segment, offering the best balance of location, amenities, and affordability.
What was the full-year 2025 outlook for new home sales?
With estimated YTD sales of 10,600–10,800 units through November, 2025 was projected to close just under 11,000 units — well above 2024’s 6,469 and the strongest year since the 2021 boom of 13,027 units.
Source: AsianPrime Properties Monthly Newsletter, January 2026. Market data sourced from URA and developer sales records for November 2025.
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