Commentary on Monthly New Home Sales for August 2025

By Tricia Song (宋明蔚), Head of Research, Southeast Asia, CBRE

Developer sales in Aug 2025 surged for the second consecutive month to the highest level in 2025-to-date on bumper new launches prior to the start of the Seventh Lunar month on 23 Aug 2025. Developers launched 2,496 new units in the month, 49% higher m-o-m from 1,675 units in Jul 2025. 

Correspondingly, 2,142 new private homes were sold, up 127.9% m-o-m from 940 units in Jul 2025 and 9-fold the 211 units moved in Aug 2024. This is the highest monthly record of new sales for the year so far and since 2,560 units were sold in Nov 2024. 

August’s sales take the tally of new homes sold in the year-to-August to 7,669 units, already 18.6% higher than 2024’s full-year volume of 6,469 units. This comes on the back of strong buying sentiment amid low interest rates and better-than-expected economic performance despite persistent trade uncertainty and geopolitical tensions, with MTI upgrading its 2025 GDP growth forecast to 1.5 – 2.5% from a prior 0 – 2%.

Top 10 Selling Projects in August 2025 (including ECs and landed)

Project Name	Street Name	Tenure	Locality	Units Sold in the Month	Median Price ($psf) in the Month	% of project sold to date
SPRINGLEAF RESIDENCE	UPPER THOMSON ROAD	99 yrs	OCR	884	$2,166	93.9%
RIVER GREEN	RIVER VALLEY GREEN	99 yrs	CCR	451	$3,111	86.1%
PROMENADE PEAK	ZION PROMENADE	99 yrs	RCR	333	$2,919	55.9%
CANBERRA CRESCENT RESIDENCES	CANBERRA CRESCENT	99 yrs	OCR	211	$1,991	56.1%
OTTO PLACE (EC)	PLANTATION CLOSE	99 yrs	OCR	191	$1,760	90.2%
BLOOMSBURY RESIDENCES	MEDIA CIRCLE	99 yrs	RCR	25	$2,565	57.8%
UPPERHOUSE AT ORCHARD BOULEVARD	ORCHARD BOULEVARD	99 yrs	CCR	22	$3,353	66.1%
ARTISAN 8	SIN MING ROAD	Freehold	RCR	15	$2,386	44.1%
THE ROBERTSON OPUS	UNITY STREET	999 yrs	CCR	15	$3,308	46.6%
ONE MARINA GARDENS	MARINA GARDENS LANE	99 yrs	RCR	13	$2,909	54.9%

Source: CBRE Research, URA

New launches in August 2025

Project Name	Street Name	Tenure	Locality	Total no. of units	Units Launched in the Month	Units Sold in the Month	Median Price ($psf) in the Month	Units sold as % of launched
ARTISAN 8	SIN MING ROAD	Freehold	RCR	34	34	15	2386	44%
CANBERRA CRESCENT RESIDENCES	CANBERRA CRESCENT	99 yrs	OCR	376	376	211	1991	56%
PROMENADE PEAK	ZION PROMENADE	99 yrs	RCR	596	596	333	2919	56%
RIVER GREEN	RIVER VALLEY GREEN	99 yrs	CCR	524	524	451	3111	86%
SPRINGLEAF RESIDENCE	UPPER THOMSON ROAD	99 yrs	OCR	941	941	884	2166	94%

Source: CBRE Research, URA

There were 5 new launches in Aug 2025, 4 major launches and 1 boutique project spread across all market segments. The OCR saw the launch of Springleaf Residence (941 units) and Canberra Crescent Residences (376 units), the CCR observed the launch of River Green (524 units) and the RCR recorded the launch of Promenade Peak (596 units) and boutique freehold project Artisan 8 (34 units).

All of the new launches made it to the top 10 best-selling projects in the month, led by Springleaf Residence (941 units) which saw robust take-up given its attractive price point, moving 941 units (94% of total units) in the month at a median price of $2,166 psf, making it the best performing new launch in terms of % sold for 2025 so far. 

• The next best-selling project was River Green (524 units) which sold 451 or 86% of its 524 total units at a median price of $3,111 psf, far surpassing the 59% of total units sold at Upperhouse at Orchard Boulevard (301 units) last month and making it the best-selling CCR project in the year so far and at least the past 10 years. By shrinking unit sizes, the developer, Wingtai Holdings was able to keep the quantum palatable for most units, making it affordable for a larger proportion of buyers.
• Competing launch, Promenade Peak (596 units) located nearby to River Green was the third best-selling project, moving 333 units or 56% of its 596 total units at a median price of $2,919 psf.  The project featured larger-format units that appealed to buyers purchasing for own-stay.
• Canberra Crescent Residences (376 units) was the fourth top performing project, seeing 56% take-up, with 211 units sold at a median price of $1,991 psf.
• For its small size, Artisan 8 sold a respectable 44% or 15 units at a median price of $2,386 psf during launch. 

By market segment, August 2025’s developer sales (excluding ECs) were again led by the Outside Central Region (OCR) which recorded the sale of 1,153 units (53.8%) from 70 units (7.4%) of total new sales in Jul 2025. This was largely attributed to robust take-up a top-selling project Springleaf Residence and healthy performance at Canberra Crescent Residences.

• Similar to last month, the Core Central Region (CCR) fared well, moving 513 units (23.9% of August sales) compared to 357 units in July (38%) mainly due to the success of River Green.
• The Rest of Central Region (RCR) was comparable to the CCR, only trailing slightly behind. 476 units or 22.2% of total August sales were recorded, matching the 513 units (54.6%) in Jul 2025.

 

Source: CBRE Research, URA
*Based on Realis new sales (excl. EC) caveats extracted on 15 Sep 2025.

Based on quantum size, the largest proportion of new private homes sold (excl. ECs) at 33% was actually in the S$1.50 – 2.00 mil range which is the sweet spot for 2-bedders from the new launches. The $1.00 – 1.50 mil range was second at 25%.

 

Outlook and forecasts