Singapore Property Market, October 2025: New Home Sales Jump to 2,424 as HDB Resales Fall to 1,347
October 2025 split the market in two. New home sales leapt to 2,424 units, the best month in four years, as four big launches came to market at once. HDB resales fell 38.4% to 1,347 flats as buyers turned to the year’s largest BTO exercise, while condo resale prices rose 1.0% to a new high. Here are the key numbers from the December 2025 issue of our monthly market brief.
New Homes Sold, October 2025
Condo Resale Prices, Month on Month
HDB Resale Flats Sold, Lowest Since 2020
Million-Dollar HDB Flats
Market at a Glance
| Segment | October 2025 | Change on September | Change on a year ago |
|---|---|---|---|
| New private homes sold (excluding Executive Condominiums) | 2,424 units | +850.6% | +224.1% |
| Condo resale price index | 273.5 | +1.0% | +5.3% |
| Condo resale volume | 1,069 units | -4.5% | -4.7% |
| Condo rental index | 143.8 | 0.0% | +2.5% |
| Condo rental volume | 5,819 units | -9.7% | +1.9% |
| HDB resale price index | 208.4 | -0.6% | +3.8% |
| HDB resale volume | 1,347 flats | -38.4% | -37.6% |
| HDB rental index | 143.3 | -0.4% | +1.8% |
Sources: URA developer sales; HDB; 99-SRX condo resale, rental and HDB flash reports for October 2025. October volumes are flash estimates and may be revised.
New Homes: Four Launches Drive a Four-Year High
Developers sold 2,424 new homes, almost ten times September’s 255 and 13.2% above August’s 2,142, the previous high for 2025. Sales to end-October reached 10,299 units, already well above the 6,469 sold in all of 2024. The city fringe took 50.5% of sales (1,225 units) and prime districts 724 units, helped by a gap in median prices between the two regions that shrank from nearly 27% in September to 2.2%.
| Project | Region | Units sold in October | Median psf | Sold to date |
|---|---|---|---|---|
| Skye at Holland | Core Central Region | 662 | $2,949 | 99.4% |
| Zyon Grand | Rest of Central Region | 595 | $3,038 | 84.3% |
| Penrith | Rest of Central Region | 446 | $2,791 | 96.5% |
| Faber Residence | Outside Central Region | 348 | $2,149 | 87.2% |
Source: URA. Best-selling projects in October 2025.
Faber Residence was the only new suburban launch, and with one launch expected in November, sales are likely to cool into the year end. See our new home sales tracker for the full monthly series.
Condo Resale and Rental: Prices Up, Activity Down
About 1,069 condos were resold, 4.5% fewer than September, yet prices rose 1.0% to a record index of 273.5. The city fringe led with a 2.4% gain even as its resale deals fell 23.3%. Many sellers are former HDB owners who can afford to hold firm on price. The top resale was $14.5 million ($3,472 psf) at Nassim Lodge.
Condo rents were unchanged on September and 2.5% higher than a year earlier. Leasing slowed for a third month to 5,819 units as newly completed projects gave tenants more choice.
HDB: A BTO Pause, Not a Price Break
Only 1,347 HDB flats were resold, the lowest monthly figure since 2020, as many households waited to ballot in the October BTO exercise of more than 9,000 flats, including sites in Tanjong Rhu, Mount Pleasant and the Keppel precinct. Prices slipped 0.6%, led by a 1.3% fall for 4-room flats, but were still 3.8% higher than a year ago.
Million-dollar deals halved to 87 flats from September’s record 172, or 6.5% of resales. The top price was $1,550,000 for a 5-room flat at Boon Keng Road, and Toa Payoh again led with 20 such flats. That brings the 2025 total to 1,333. Our million-dollar HDB flats tracker follows the count each month.
HDB rents dipped 0.4% and 2,471 flats were rented, 5.8% fewer than September but 5.2% more than a year earlier.
Read the full issue, including featured listings and the launch pipeline: download the December 2025 brief (PDF), or browse every issue since January 2024 on our market insights page.
Frequently Asked Questions
How many new private homes were sold in October 2025?
2,424 units, excluding Executive Condominiums, the highest monthly figure in four years. Sales for 2025 reached 10,299 units by end-October.
Which new launch sold best in October 2025?
Skye at Holland, which sold 662 of its 666 units at a median $2,949 psf. Zyon Grand followed with 595 units at $3,038 psf.
Why did HDB resale volume fall in October 2025?
The year’s largest BTO exercise, with more than 9,000 flats, drew many buyers away from resale flats. Only 1,347 resale flats changed hands, the lowest since 2020.
How many HDB flats sold for $1 million or more in October 2025?
87 flats, down from a record 172 in September. The highest was $1,550,000 for a 5-room flat at Boon Keng Road.
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