August 2025 Monthly Developer Sales Report: August New Home Sale Hit a high note, CCR saw the highest transaction since Mar 2021

SINGAPORE, 15 September 2025 - August 2025 saw developer sales coming in at 2,142 new private homes (excluding ECs), reflecting a 127.9% month-on-month (m-o-m) increase in transaction volume. This is the highest number of new homes sold in a month since November 2024 (2,560 units). 

“The higher number of new home sales was largely driven by five new project launches in the month - namely Springleaf Residence, River Green, Promenade Peak, Artisan 8 and Canberra Crescent Residences. The surge was largely driven by a strong pipeline of new home launches in August, particularly in underserved areas in recent years, and alongside moderating interest rate. Collectively, this puts the total number of new private homes (excluding ECs) sold in the first eight months of 2025 at 7,669 units, surpassing the 6,469 new sale units transacted in the whole of 2024,” said Marcus Chu, CEO, ERA Singapore. 

Barring any unforeseen circumstances, ERA Singapore projects new home sales to be between 8,500 - 9,500 units for the whole of 2025. 

Table 1: Top ten performing new launch project (excluding ECs) in August

 August also marks the highest number of CCR new homes (513 units) sold in a month since March 2021 (546 units). River Green (524 units) is one of the larger CCR project launched since Midtown Modern launch in 2021. August saw the launch of two projects within the River Valley-Zion Road precinct which offered more options to homebuyers and drove renewed interest in the area. Even within the CCR, River Green stood out for attractive pricing. 

About 345 out of its 451 units were sold at $2.5 million and below, at a median price of $3,111 psf. This is an attractive entry point for Singaporeans to acquire a home in the CCR location. In contrast, Promenade Peak (596 units) leaned into exclusivity, appealing to families seeking practical and larger layouts over price accessibility. The project sold 333 of its units at a median price of $2,919 psf. The project sold 185 out of its 320 2-bedroom units (58%) and 86 out of 118 3-bedroom units (73%). Notably, about 217 of its 333 units were sold at $2.5 million.

Strong sale at OCR led by Springleaf Residences

The Outside of Central Region (OCR) saw 1,153 new homes sold in August, marking the highest number of units sold since February 2025 (1,469 units). Springleaf Residences comprising 941 units, sold 884 units or 92% at a median price of $2,166 psf. Notably, 57% of the units were priced below $2 million, attracting strong interest from nearby HDB upgraders and existing residents seeking to remain within the neighbourhood. 

Benefiting from its first-mover advantage, direct access to Springleaf MRT, and proximity to both reputable schools and Singapore’s largest nature reserve, the project offers a compelling blend of convenience and lifestyle appeal. Strong sales in the OCR were driven mainly first-time buyers and HDB upgraders seeking new homes. 

Additionally, Canberra Crescent Residences sold 211 of its 376 units at a median price of $1,991 psf. This first new launch in Canberra in four years – was priced competitively, with land cost comparable to recent EC GLS sites. Positioned close to EC price levels, it drew strong interest from HDB upgraders in the north. 

Meanwhile, the Executive Condominium (EC) market saw a 47.2% m-o-m decrease to 196 units. EC sales in August were primarily led by Otto Place after balloting was opened for second timers, selling another 191 units.  As of Aug, the supply of EC remains tight, with only 73 units remaining unsold. 

Table 2: New Home Sales Over the Last Six Months

August saw the launch of 2,496 units including five new projects – Springleaf Residence (OCR), River Green (CCR), Promenade Peak (RCR), Canberra Crescent Residences (OCR) and Artisan 8 (RCR).

Buyer Profile

Chart 1: Buyer profile for all new non-landed homes (excluding EC)

With the steep Additional Buyer’s Stamp Duty still in place, foreign demand for new private homes remained muted in August, with just 29 transactions (1.3% of total sales), while PRs accounted for 8%. Singaporeans continued to dominate the market, with new private home sales surging 253.7% q-o-q to 1,951 units - the highest since February 2025 - largely boosted by the strong launch of Springleaf Residence, which alone contributed 38% of August’s new sales.

Luxury Homes

Chart 2: Buyer profile for homes transacted at $5mil and more

In August, the luxury home market saw a slight decrease in activity, maintaining a stable trend and recording the second-highest take-up since November 2024. Activity was led by Singaporeans and PR, including two ultra-luxury deals at 21 Anderson exceeding S$20 million - highlighted by a S$52.25 million penthouse sale. In the S$5-6 million segment, Promenade Peak dominated with the bulk of transactions, reflecting strong local demand for new launches in prime RCR locations.

Closing and Forecast

August new private home sales remained brisk, with 2,142 units sold - closely aligned with the month’s new launches. Springleaf Residence led the market, moving 884 of 941 units (94%) and contributing 41% of total transactions, while River Green (CCR, 88% take-up) and Promenade Peak (RCR, 54% take-up) also performed strongly. The broad spread of launches across CCR, RCR, and OCR underscores healthy demand islandwide. River Green’s success highlights that CCR projects can still achieve strong sales when strategically priced and positioned, reflecting renewed confidence in the prime market after the ABSD hike in April 2023. Looking ahead, five new launches are expected, with three new launches in the RCR namely Zyon Grand, Penrith, and The Sen, alongside Skye at Holland in the CCR and Faber Residences in the OCR. Demand is expected to remain resilient through year-end, supported by strong interest local and SPR interest.

Table 3: Upcoming launches in 2025

For media enquiries, please contact: Lisha Rodney Public Relations Manager, ERA Singapore Email: Lisha.Rodney@era.com.sg 

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