The residential property market is set for an exciting 2O25. Over 30 new projects, including three executive condominiums (ECs), are expected to add 14,000 units to the market. It marks a significant jump from 2024, which saw 24 projects (including two ECs) with over 7,300 units launched, according to PropNex.

The new launches will be evenly distributed across Singapore’s three main sub-markets: the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR), offering a wide range of options for buyers and investors.

“With a strong lineup of projects across all regions, the 2025 property market is set to deliver diverse opportunities tailored to different needs and preferences,” says Ismail Gafoor, CEO of PropNex.

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Surge in CCR Launches

Buoyed by improved market sentiment, more projects in the CCR are expected to launch in 2025, including those delayed by the government’s property cooling measures introduced in April 2023. These measures included a significant increase in the additional buyer’s stamp duty (ABSD) for foreigners, which was doubled to 60%.

A highlight of the 1Q2025 launches is Aurea, a 188-unit, 45-storey residential tower within the Golden Mile Singapore mixed-use development on Beach Road. Aurea is jointly developed by Far East Organization and Perennial Holdings. It will be linked to the conserved former Golden Mile Complex, which the developers acquired en bloc for $700 million in April 2022. Notably, this marks the first collective sale involving a conserved property.

Chia Siew Chuin, JLL’s head of residential research, notes that Aurea is well-positioned to benefit from the ongoing revitalisation of the Beach Road and Ophir-Rochor Corridor, as well as the nearby Kallang Alive sports and lifestyle hub, enhancing its appeal to buyers.

IOI Properties Group’s W Residences Singapore – Marina View is another major launch anticipated in 1Q2025. This luxury development features 683 residential units and the 350-room W Singapore – Marina View hotel within a 51-storey tower.

It marks the first hotel-branded luxury residential project since the Pullman Residences Newton debuted in 2019. JLL’s Chia highlights the project’s Downtown Core location, proximity to Shenton Way MRT Station on the Thomson-East Coast Line (TEL), and nearby retail and dining options as key factors driving its appeal.

Prime Holland Road, Orchard Boulevard enclaves

Another highly anticipated launch is a 680-unit private condo at Holland Drive, developed by CapitaLand, UOL Group, Singapore Land Group (SingLand), and Kheng Leong Co. The project is being built on a government land sales (GLS) site acquired in May 2024 for $805.39 million, equivalent to $1,285 psf per plot ratio (ppr).

Read also: 10 best-selling new private residential projects of 2024

The development enjoys a prime location, just a short walk from Holland Village MRT Station on the Circle Line, notes JLL’s Chia. It is also adjacent to the newly completed mixed-use development One Holland Village, by Far East Organization, Sino Group, and Sekisui House. Residents will benefit from proximity to the vibrant F&B, entertainment, and retail options at Holland Village and Chip Bee Garden, enhancing its appeal to potential buyers, she adds.

Also expected to attract strong interest is a 280-unit luxury condo at Orchard Boulevard by UOL Group and SingLand. Conveniently located in front of Orchard Boulevard MRT Station (on the TEL), the project is near Tanglin Mall, Botanic Gardens, Orchard Road, and Dempsey Hill. The developers secured the GLS site for $428.28 million ($1,617 psf ppr) at the close of the tender in February 2024.

The site’s price is 32% lower than the $2,377 psf ppr paid for the Cuscaden Road GLS site six years ago. That site, located across the road, was developed into the 192-unit Cuscaden Reserve. Since reducing its prices in March 2024, Cuscaden Reserve has achieved an 83% sell-through rate. Caveats lodged show that the 147 units sold this year averaged about $3,071 psf, compared to the $3,625 psf average for the 12 units sold during its initial launch in 2019.

Hence, JLL’s Chia sees the upcoming project at Orchard Boulevard as one of the projects to watch for in 2025.

Wide selection — River Valley to Robertson Quay

The CCR is also set to welcome a 348-unit mixed-use development at Unity Street, Robertson Quay, by Frasers Property and Sekisui House. A redevelopment of the former Robertson Walk and Fraser Place Robertson, the new project will combine residences with F&B and entertainment components, according to the joint-venture partners in November. Completion is targeted for 2028.

Another anticipated CCR project is Newport Residences, a 246-unit freehold development by CDL. It is part of the Newport Plaza mixed-use development that is being built on the site of the former Fuji Xerox Towers. It is expected to  contribute to the renewal of the CBD.

Read also: Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psf

River Green, a 400-unit development by Wing Tai Holdings, is among the notable launches expected in 2025. The GLS site at River Valley Green was acquired for $464 million ($1,325 psf ppr) in June. The project is adjacent to Great World MRT Station (on the TEL), near Great World Mall and River Valley Primary School.

Meanwhile, following a private sale in November, the public preview of The Collective at One Sophia is scheduled for Jan 4–5, 2025. The project, jointly developed by SingHaiyi and Ultra Infinity, will officially launch for sale on Jan 18. The 367-unit residential development is part of the mixed-use project One Sophia, located in prime District 9. It will be built on the site of the former Peace Centre and Peace Mansion, which the joint venture acquired for $650 million in December 2021.

These new launches cater to a diverse range of buyers and investors, says PropNex’s Gafoor. Hence, he is optimistic about 2025. “The wider selection of new launches in the CCR will help to revitalise buying interest in this segment. Additionally, the strong pipeline of projects in the RCR and OCR will appeal to both owner-occupiers and investors, as many are conveniently located near MRT stations and amenities.”

RCR and OCR projects ready for take-off in 1Q2025

The year is set to begin with two highly anticipated developments opening for preview on the weekend of Jan 4–5: The Orie in Toa Payoh and Bagnall Haus on Upper East Coast Road.

The Orie, a 777-unit project located at Lorong 1 Toa Payoh, is a joint venture by CDL, Frasers Property, and Sekisui House. Situated just a five-minute walk from Braddell MRT Station on the North-South Line, The Orie is expected to generate strong interest due to its prime location. “The Orie is likely to garner significant attention, given the seven-year drought of new project launches in Toa Payoh since Gem Residences in 2016,” notes JLL’s Chia.

The second notable launch is Bagnall Haus, a 113-unit project by Roxy-Pacific Holdings. Located along Upper East Coast Road, it is near the upcoming Sungei Bedok MRT Station, which will serve as an interchange for the TEL and Downtown Line when completed in 2028. Bagnall Haus is a redevelopment of the former Bagnall Court, which Roxy-Pacific purchased en bloc for $115.28 million ($1,106 psf ppr) in February 2023.

Bagnall Haus stands out as the first new residential development in District 16’s East Coast neighbourhood since Eastwood Regency was launched in early 2010. Additionally, Bagnall Haus is expected to benefit from its proximity to Bayshore, an area poised to become a hotspot for residential developments.

Several other projects are slated for launch in 1Q2025. Among them is Elta, a 501-unit development at Clementi Avenue 1 by joint developers CSC Land Group and MCL Land. According to JLL’s Chia, the project is likely to see strong demand, as the last two developments in the area — the 505-unit Clement Canopy (launched in 2017) and 640-unit Clavon (launched in 2020) — are both fully sold.

“The proximity to reputable schools further enhances its appeal, including Pei Tong Primary School, Nan Hua High School, NUS High School, and the National University of Singapore,” Chia adds.

Lentor Central Residences, the 477-unit residential project by GuocoLand, Hong Leong Holdings, and CSC Land Group, is expected to debut in 1Q2025. Located in the Lentor Hills estate, this will be GuocoLand’s fifth residential project in the area, highlighting the developer’s continued focus in this growing private residential neighbourhood.

Mega projects of 2025

Two large-scale projects are also expected to hit the market sometime in 1Q2025. The biggest is Parktown Residences, a mega-development with 1,193 residential units and part of an integrated mixed-use development at Tampines Avenue 11.

Developed by CapitaLand, UOL and SingLand, the project encompasses apartments, a shopping mall, a hawker centre, a community club and a transport hub, including a bus interchange and a direct link to the future Tampines North MRT Station on the Cross Island Line (CRL).

Parktown Residences is expected to see strong demand from HDB upgraders in the neighbouring Tampines, Simei and Pasir Ris towns, says JLL’s Chia.

Another noteworthy project expected to debut in 1Q2025 is the 937-unit residential development at Marina Gardens Lane. Kingsford Group — the developer of the 916-unit Chuan Park (one of the top-selling projects of 2024) and the fully sold and completed 1,862-unit Normanton Park — is leading the consortium developing the Marina Gardens Lane project. Its joint-venture partners are Obsidian Development and Polarix Cultural and Science Park Investment.

PropNex’s Gafoor expects February — after the Lunar New Year celebrations — to be a busy month with three project launches: Lentor Central Residences, Elta and Aurelle of Tampines EC. However, he does not expect a repeat of the back-to-back launches in November. “Much will depend on the timing at which developers receive the necessary permits and approvals from various government agencies to launch their projects,” he says.

Prime RCR — Zion Road, Margaret Drive

The launch pipeline for next year includes two notable projects on Zion Road in the RCR.

The first is a 1,170-unit residential development at Zion Road Parcel A, which also features about 300 long-stay serviced apartments. This site, jointly acquired by CDL and Mitsui Fudosan for $1.107 billion ($1,202 psf ppr) in April 2024, is the first GLS site to include units under the long-stay serviced apartment scheme, which requires a minimum three-month occupancy.

Adjacent to Parcel A, the Zion Road Parcel B site was purchased by Allgreen Properties in July 2024 for $730.09 million ($1,304 psf ppr). Allgreen plans to develop a 610-unit residential project on the site, with the launch anticipated later in the year.

Over at Margaret Drive is a new 460-unit private residential project that is expected to be rolled out sometime in 2H2025. The GLS site was acquired for $497 million ($1,154 psf ppr) by a joint venture between GuocoLand, Hong Leong Holdings’ wholly-owned subsidiary Intrepid Investments, and Hong Realty, a unit of the Hong Leong Group.

The Margaret Drive development is expected to attract strong interest due to its prime location near Queenstown MRT Station. According to JLL’s Chia, the site is within 1km of three schools and is close to eateries and other amenities. She notes: “There is potential upgrader demand from the nearby Dawson and Queenstown HDB estates.”

Chia expects buyers to continue prioritising location-specific and project-related features when making purchasing decisions. “Well-designed, high-quality projects located near MRT stations, essential amenities, and reputable schools are likely to draw significant interest,” she says.

She also notes that residential neighbourhoods without a new project launch for several years could experience pent-up demand.

Pricing trends and market dynamics

JLL’s Chia projects new home sales in 2025 to range between 7,000 and 9,000 units, an increase from about 6,500 units in 2024. She expects 2025’s sales volume to realign with the decade-long annual average of 8,853 units.

PropNex is projecting new home sales next year to be in the 8,000 to 9,000 range, with price growth of 3% to 4%. It is in line with JLL’s projection of a 3% to 5% price growth in 2025, with this year’s price growth expected to be around 3%.

According to JLL, non-landed private home prices in the CCR have underperformed, rising by 15.1% from 1Q2020 to 3Q2024. In contrast, the RCR and OCR prices have increased by 42.2% and 40.6%, respectively, over the same period.

Chia attributes the slower price growth in the CCR to successive rounds of cooling measures, which primarily targeted investors and foreign buyers, the segment’s typical clientele.

Outlook for 2025

Chia anticipates resilient demand from local buyers in the RCR and OCR segments, where higher land and development costs have driven more substantial price growth.

She adds: “The narrowing price gap between RCR, OCR, and CCR properties has created attractive buying opportunities in the high-end market — a trend that is likely to continue into 2025.”

Gafoor agrees, highlighting that buyers have remained selective and cautious. “The strong sales seen in November were not consistent across all launches. For instance, centrally located projects with higher price points, such as The Collective At One Sophia and Union Square Residences, experienced more measured sales,” he says.

In contrast, Chuan Park, Emerald of Katong, and Nava Grove saw stronger overall demand, driven by their project attributes and/or more affordable price quantum, which aligned with the budgets of many buyers, Gafoor explains.

Based on caveats lodged, around 43% of units sold at Chuan Park and Emerald of Katong were priced below $2 million, while the proportion was 51% at Nava Grove. Gafoor expects sales momentum to continue into the new year.

He reckons there will be strong interest in projects such as The Orie, Elta, and Parktown Residence, as well as upcoming launches in prime locations like Zion Road, River Valley, Holland Drive, and Margaret Drive.

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