Why New Condos Are Dominating Singapore’s Property Market in 2025

Authored by Raymond Tiah

New Launches Overtake Resales in 2025 – Here’s Why

The condo market in Singapore has seen a major shift in 2025. New launches now make up 58% of all private property sales, up from just 29% in Q1 2024. Meanwhile, resale transactions have fallen to 39%.

What’s behind this surge in new condo demand, even as resale prices remain lower? Let’s break it down.

Price Gap Between New & Resale Shrinking

Buyers are noticing that the difference between new and resale condos is narrowing:

• 2023 Price Gap: $908 psf

• 2025 Price Gap: $697 psf

• New condo prices fell 2.6% to $2,465 psf

• Resale prices rose 8.9% to $1,768 psf
  

Why buyers prefer new launches:

• Progressive Payment Scheme = lower upfront payments

• More unit choices at launch

• Lower maintenance costs (brand new units)

• Longer lease tenure = better long-term value
  

Top Projects Selling Out Fast

Demand for new launches is at a high, with top-performing projects in 2025 including:

• Lentor Central Residences: 95.2% sold

• The Orie: 88.4% sold

• PARKTOWN Residence: 88.1% sold

• Elta: 65.3% sold
  

Limited supply from recent years—just 6,647 units launched in 2024—has made these developments highly sought-after.

OCR Buyers Acting Fast Before Prices Climb

Where are buyers purchasing?

• 67% in Outside Central Region (OCR)

• 28% in Rest of Central Region (RCR)

• 6% in Core Central Region (CCR)
  

OCR condos remain the most budget-friendly:

• OCR: $2,323 psf

• RCR: $2,697 psf

• CCR: $2,972 psf

Buyers are locking in prices before upcoming CCR/RCR launches like Bloomsbury Residences and One Marina Gardens push prices higher.

HDB Upgraders and Falling Rates Fuel Market

• HDB prices up 47.8% since 2020 (now at $637 psf)

• Million-dollar flat sales surged to 1,066 in 2024, with 311 already sold in 2025

• Upgraders are cashing out and entering the private market
  

On top of that, home loan rates are falling:

• SORA dropped from 3.4–3.7% (2024) to 2.6% (2025)

• Lower interest = more affordable financing = stronger buyer confidence

Developers Are Getting Bolder

The Bayshore Road GLS site received 8 bids, with the highest at $1,388 psf ppr—a clear sign of confidence.

More attractive sites are on the way, including:

• Dunearn Road GLS, near MRT stations

• More CCR & city-fringe launches expected

Key Takeaways:
✅ Shrinking price gap is driving new condo demand
✅ Buyers are moving fast before prices rise
✅ Developers are optimistic about future sales

Take Action: Navigating 2025 with Confidence

With high demand, narrowing price differences, and falling mortgage rates, this could be your moment to make a move.

Whether you're a first-time buyer, upgrader, or investor, timing the market right makes all the difference.

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