Savills Q3 Residential Sales Report shares new home sales increased by nearly threefold from 1,212 units in Q2/2025 to 3,288 units in Q3/2025. This was a rebound after a plunge in the previous quarter. On a Year-on-Year (YoY) basis, the new sales were also 183.4% higher. 

New sales in the Rest of Central Region (RCR) and Core Central Region (CCR) made up 33.2% and 27.5% respectively while Outside Central Region (OCR) constituted the largest proportion accounting for 39.4%.

In Q3/2025, all the top five best-selling projects in the primary market (Lyndenwoods, Springleaf Residence, River Green, Upperhouse at Orchard Boulevard and Canberra Crescent Residences) came from the new launches in the quarter. The projects that were newly launched in the quarter that made it to the top five were deemed to be well-located and imbued with positive site attributes, making them attractive to the local buyers that have either acquired homes for own occupation or lease to foreign professionals residing in Singapore.

In the secondary market, sales continued to increase for the second consecutive quarter and by a larger rate of 5.1% QoQ to 4,116 units. In the second quarter, the rise was 0.8%. This was also the highest quarterly increase since Q2/2024 when the secondary sales volume rose 36.7%. Nevertheless, it was still 2.3% lower on a YoY basis.

Across the three market segments, all three market segments recorded quarterly increases in secondary sales volume. Secondary sales in the CCR grew the most, increasing 12.5% QoQ to 737 units in Q3/2025, the largest amount since Q2/2022 when secondary sales amounted to 744 units. Similarly, secondary sales in both the RCR and OCR rose 4.6% and 3.0% QoQ to 1,284 and 2,095 units respectively.

The low-interest rate environment and high HDB resale prices, along with much higher prices of new launches and the generally larger sizes of the older resale units, may have motivated some homebuyers to the secondary sales market.

Non-landed home purchases of all residency statuses recorded quarterly increases in the quarter. Among the residency statuses, the largest growth was for Singaporeans, increasing 52.9% QoQ to 5,661 units in the quarter. This was the highest QoQ growth since Q3/2020 when non-landed home purchases by locals surged 166.9% after the relaxation of the circuit breaker measures from June 2020 due to the COVID-19 pandemic.

Similarly, non-landed home sales of foreigners and PRs rose 70.9% and 13.9% QoQ to 94 and 924 units respectively in Q3/2025. The lower interest rate environment, along with the stability of Singapore amid the volatile and uncertain global economy, may have led to these two groups of homebuyers to commit to a purchase.

Despite the significant jump in transaction volume for foreigners, this still lags much behind the figures before the implementation of the higher ABSD rates from April 2023. Hence, those that have acquired properties in the quarter may largely be those that are eligible for ABSD remission under the Free Trade Agreements.

With the lower interest rates and better than expected economic performance of Singapore’s economy, the sales momentum of upcoming new projects is expected to remain strong.

New sales looked much better in October as momentum accelerated, driven by ample liquidity from the baby boomer generation, higher HDB resale prices that made the leap over to private housing less daunting and to some extent, those who made money from rising equity markets.

Alan Cheong, Executive Director, Research & Consultancy, Savills Singapore, “Whilst demand may moderate, however, we believe that the amount of liquidity in the system, coming from savings of the baby boomer generation and profits from stock market gains, would still lift prices by about 3% in 2026. It is just that the 80% to 100% sell out rates for new launches may be harder to come by next year.”

Read the full report here.