“The empires of the future are the empires of the mind.” — Winston Churchill.
Imagine starting july 2025 with a clear map. You see prices nudging higher, yet growth feels more measured. That lets you plan entries and exits without chasing froth.
Q2 flash estimates show private home prices up modestly. Developers sold around 1,153 units while private resales reached about 2,949 to mid-June. HDB resale also ticked up, with nearly 7,000 transactions.
You’ll navigate a market shaped by fewer launches in Q2 and a looming supply wave of ~4,700 units before Ghost Month. Foreign buyer share has dipped to roughly 1.3% after the ABSD change. MAS has an easing stance and the economy faces a softer GDP outlook.
This guide helps you turn headlines into action. You’ll weigh affordability, cooling measures, interest rates, and draft master plan hints. Use timing, product choice, and financing to protect downside while keeping upside open.
Key Takeaways
- Prices are rising, but at a healthier pace—plan without panic.
- Near-term launches create timing leverage for bookings and negotiation.
- CCR strength and RCR softness affect portfolio balance.
- Lower foreign demand boosts opportunities for resident buyers.
- Moderating interest rates and cooling measures shape affordable strategies.
July 2025 market snapshot: slower price growth, steadier volumes, and cautious sentiment
Flash figures point to measured gains as the quarter closed. Overall private prices rose +0.5% QoQ, with the core central region stronger at +2.3% and the rest declining slightly.
Developers’ sales totaled about 1,153 units in Q2 while private resale reached roughly 2,949 transactions to mid-June. HDB resale showed a modest +0.9% QoQ, with 6,981 deals in the quarter.
What’s driving the moderation
Limited new launches in Q2 (1,526 units across five projects) tightened choice. Geopolitical shocks and a paused 10% US tariff cycle lowered risk appetite. Cooling measures and tighter loan rules kept some buyers on the sidelines.
What this means for buyers, sellers, and investors
Buyers get negotiating room in selected towns and should be ready with financing. Sellers may see selective demand, especially in prime segments. Investors should focus on entry price and rental fundamentals.
| Indicator | Q2 | Change QoQ | Note |
|---|---|---|---|
| Private prices (overall) | +0.5% | +0.5% | CCR led gains |
| Developers’ sales | ~1,153 units | — | Timing-driven cadence |
| HDB resale | 6,981 transactions | +0.9% | Negotiation opportunities |
Message BuySellRent on WhatsApp for a concise, data-first briefing tailored to your budget and timeline. For trends in landed sales and wider transaction counts, see landed sales and trends.
Singapore property market July 2025: private residential performance at a glance
A measured 0.5% quarter gain hides sharper moves for landed homes and core-city segments.
Headline data: overall private prices rose +0.5% QoQ; landed units climbed +0.7% while non-landed increased +0.5%.
The regional split shows CCR up +2.3%, OCR +0.9% and RCR down −1.1% amid an RCR-heavy launch mix. Developers sold roughly 1,153 new units in Q2 (ex-EC), and private resale recorded about 2,949 transactions to 20 June.
- You read the quarter: landed outpaced non-landed, signaling steady demand for scarce ground homes.
- CCR-led gains and a ~12% CCR–RCR PSF gap force you to weigh core versus fringe value.
- Launches dipped to five (1,526 units) from six in Q1 (3,251 units), explaining why Q2 normalized rather than reversed course.
How to act: map caveat data to your unit size, prepare financing, and WhatsApp BuySellRent to benchmark projects against Q2 regional shifts. For deeper landed trends, see landed sales and trends.
HDB resale dynamics: softer price gains, firmer volumes, and more million-dollar deals
HDB resale activity picked up in Q2, with steady volumes even as price gains cooled.
Price growth eased to +0.9% QoQ, bringing cumulative 1H to +2.5%. Volumes rose to about 6,981 transactions in Q2 (to 29 June), up from 6,590 in Q1.
Fewer flats exiting MOP, tighter HDB loan LTVs, and active BTO supply are shaping availability and buyer timing. At the same time, high-end demand produced a record 415 million-dollar flats in Q2.
What this means for you
- Resale prices are rising slower — a healthier pace if you need time to sell or buy.
- More transactions give you comparables to price competitively and negotiate.
- Million-dollar flats are a niche driven by location, layout, and lease age — not a blanket trend.
| Indicator | Q2 | Note |
|---|---|---|
| Resale prices (QoQ) | +0.9% | 1H +2.5% |
| Transactions | 6,981 units | Up from 6,590 in Q1 |
| Million-dollar flats | 415 | Queenstown Dawson 5-room ~S$1.659M |
Plan your move. If you’re right-sizing or upgrading, WhatsApp BuySellRent to map your HDB resale sale-and-purchase timeline and financing buffers precisely.
Macro headwinds and interest rates: how trade tariffs and MAS stance filter into housing
Global policy shifts changed the signal to buyers. A 10% US tariff shock dented trade confidence and slowed decisions for higher‑end units. MTI trimmed growth to 0%–2% for the year, and a national task force now supports firms and workers.
“This is a seismic change,”
MAS eased monetary conditions as the SGD strengthened, which helps soften imported inflation. That cushion makes small moves in interest rates less likely to spike mortgage costs immediately.
What this means for you:
- Sentiment pullbacks hit discretionary, private property sales more than mass housing.
- Developers may tighten pricing or add incentives; buyers with liquidity gain leverage.
- Small rate shifts can change monthly payments meaningfully on large loans — run a stress test.
| Driver | Implication | Action |
|---|---|---|
| Tariff shock | Slower high‑end demand | Delay discretionary bids |
| MAS easing | Stabilised rates | Consider hybrid fixes |
| GDP trim | Measured growth | Prioritise liquidity |
Want a rates‑read on your mortgage? WhatsApp BuySellRent for a quick stress test based on your loan size and tenor.
Demand, buyers, and ABSD: who’s purchasing and at what price points
Local demand drove most transactions in the quarter, with foreign participation near negligible levels. Foreign non‑PR buyers made up about 1.3% of non‑landed sales after the 60% ABSD. That shift left you competing mostly with fellow resident buyers.
Two clear sweet spots emerged. About 67% of new non‑landed sales fell under S$2.5M. A growing 25.6% share sits below S$1.5M, useful for first‑time buyers and yield‑seeking investors.
How this affects your approach:
- Target sub‑S$2.5M bands to keep resale liquidity and rental depth strong.
- Consider ABSD impact if this is your second purchase; model decoupling or right‑sizing routes, including hdb resale trade‑ups.
- Prepare for early‑bird pricing and small unit allocations at launches; have loan pre‑approval ready.
| Metric | Q2 | Implication |
|---|---|---|
| Foreign share | ~1.3% | Domestically led demand |
| New sales under S$2.5M | 67% | High liquidity bands |
| New sales under S$1.5M | 25.6% | On‑ramp for buyers |
WhatsApp BuySellRent to match your budget to the most active price bands and avoid overpaying outside the sweet spots. Plan around rates and interest to protect affordability as sentiment shifts.
Supply, launches, and project pipeline for July-August 2025
Imagine the calendar flipping from a quiet spring to a concentrated slate of offerings. A burst of new launches is set to refill supply lines after a quiet spring, with roughly 4,700 units flagged for release before Ghost Month.
Upcoming projects span city luxury to heartland value. Notable names include W Residences Marina View, UpperHouse at Orchard Boulevard, Otto Place EC, The Robertson Opus, LyndenWoods, and River Green.
What this means for you:
- More choice can improve entry pricing and unit selection if you act decisively.
- Developers may show early pricing sensitivity to spur sales — watch previews and balloting.
- Shortlist by submarket: city, city‑fringe, and heartland to match goals and resale plans.
| Metric | Q3 slate | Action |
|---|---|---|
| Units | ~4,700 | Attend previews |
| Supply | CCR/RCR/OCR mix | Compare quantum vs PSF |
| Sales cadence | Clustered pre‑Ghost Month | Bring pre‑approval |
Want first‑dibs intelligence on showflat previews and balloting? WhatsApp BuySellRent for a curated pipeline calendar and price guide so you can book with confidence.
Land sales and developer confidence: GLS bidding and price gaps to watch
Imagine tender halls buzzing again. Recent GLS rounds drew robust interest, with the Dunearn Road residential parcel receiving nine bids — the strongest non‑EC result since Slim Barracks Rise in 2021.
That participation signals developers see medium‑term demand still intact. Strong bid counts often anchor supply plans and shape how many units enter the pipeline.
What the numbers tell you
Price gaps matter. Median new‑sale PSF spreads widened in Q2. The CCR–RCR gap sits near 12% while CCR–OCR widened to about 44.3%. Those differentials reveal where value and stretch are likely to appear.
- Higher bid counts indicate developer confidence and future launch depth.
- Wider PSF gaps show where prime launches may push pricing and where bargains may exist.
- Land cost sets a floor; tracking each site’s planning mix helps predict likely units and price bands.
| Indicator | Q2 signal | Implication for you |
|---|---|---|
| GLS bids (Dunearn Road) | 9 bids | Developers expect steady absorption |
| CCR–RCR PSF gap | ~12% | Core premium vs fringe value |
| CCR–OCR PSF gap | ~44.3% | Large pricing stretch between core and outer rings |
Read interest and rates alongside bid aggressiveness to judge risk appetite. Align your purchase horizon with the land pipeline to pre‑empt price step‑ups nearby.
For site‑by‑site pipeline reads and likely launch PSFs, WhatsApp BuySellRent to see our proprietary tracker on GLS outcomes and launch positioning.
Cooling measures in context: three decades of policy, today’s guardrails, and what could change
Imagine a framework built since 1995 that shapes every major transaction you consider. These measures aim to cool excess, protect households, and keep lending sustainable.
From LTV and SSD to TDSR and ABSD: why the framework still matters in 2025
Loan‑to‑value caps and the 2013 TDSR anchor how much you can borrow. Seller stamp duty and buyer stamp duty timelines change selling calculus. ABSD increases in recent years tightened sequencing for multi‑asset owners.
Current effects: tempered leverage, reduced speculation, sustained end-user demand
Result: lower speculative activity and steadier demand from end users. New sales fell after TDSR was formalised; developers adjusted launch cadence.
Policy watch: industry calls to remove the 15‑month wait-out for ex‑private owners
Removing the 15‑month rule could free up resale supply and ease some sequencing pain for upgraders. Until then, you must plan around SSD timelines and ABSD exposure.
- Map your status: first‑time buyer, upgrader, investor, or returning to HDB to gauge duties and loan caps.
- Treat TDSR as your affordability anchor; keep buffers for rate moves.
- Use scenario modelling and consult the commissioner of stamp duties guidance when timing a resale exit.
“Measures exist to preserve resilience across years of ups and downs.”
Prices, affordability, and financing: navigating BSD, ABSD, and interest costs
Imagine the agreed price on paper, then add the taxes and monthly servicing to see if the deal still works for you.
BSD/ABSD basics for July decisions
Buyer stamp duty and ABSD apply on residential purchases. Foreign buyers face a 60% ABSD since Apr 2023, so include that early in your budget. For a quick primer, see our buyer stamp duty guide.
Affordability lens: income, TDSR, and managing rate volatility
TDSR caps total monthly debt at 60% of gross income. That rule from 2013 still decides your loan size. Model every liability — car loans, cards, and existing mortgages — into TDSR before you bid.
Interest rates may stabilise as monetary conditions moderate and the currency strengthens, but volatility can raise monthly payments quickly. Weigh fixed, floating, and hybrid packages against your planned hold period.
- Tally BSD and ABSD early so your true budget reflects stamp duty outlays.
- Model TDSR including all debts to avoid financing surprises.
- Keep cash buffers for valuation variance and SSD clocks if you plan a short hold.
“Affordability in a stable policy regime is more about planning than predicting the cycle.”
| Item | Why it matters | Action |
|---|---|---|
| Stamp duty (BSD/ABSD) | Affects upfront cash | Include in offer maths |
| TDSR | Limits loan size | Run full debt simulation |
| Interest rates | Drive monthly payments | Stress‑test fixed vs floating |
Want a quick BSD/ABSD estimate and loan stress test? WhatsApp BuySellRent with your target price and income — we’ll send a tailored breakdown and a line‑by‑line cost sheet so you can compare options clearly.
Location strategy and the draft master plan: positioning ahead of planning catalysts
New transport links and precinct upgrades often rewrite local desirability long before prices move.
Read the draft master plan as a forward price map. Focus first on transit nodes, mixed‑use growth areas, and amenity hubs. These show where demand will concentrate and where government land and launches may cluster.
Reading planning signals for long-term value
Transport interchanges and new lines create daily convenience that lifts demand.
Precinct upgrades — parks, schools, and healthcare clusters — compound livability and resale appeal.
“Planning dictates where growth compounds; your job is to map horizons against your hold period.”
CCR‑RCR‑OCR: connectivity vs entry price
CCR offers cachet and links; RCR/OCR gives entry price and volume upside. The ~12% CCR–RCR PSF gap in Q2 shows where value may compress as GLS and launches respond to planning cues.
| Factor | What to watch | Action |
|---|---|---|
| Transport nodes | New interchanges & lines | Prioritise if hold ≥5 years |
| Government land | GLS activity and launch clusters | Monitor for early buyer windows |
| Micro‑factors | School belts, parks, job nodes | Overlay when shortlisting |
Investors should overlay rental drivers like business parks and campuses. Factor rates and affordability so you do not overreach chasing a future catalyst.
Want a location short‑list aligned to the draft master plan? WhatsApp BuySellRent for a map‑led session on nodes, zoning, and upside, or see our planning data via our transaction insights.
Scenarios for 2H 2025 and how to act now with BuySellRent
Imagine the second half unfolding with steady absorption and selective upside across core and fringe segments. Use a scenario lens so you can act, not react.
Base case
Projection: private residential prices rise about 3%–4% for the year. Developers’ sales total roughly 8,000–9,000 new units while private resale lands near 14,000–15,000 sales.
Anchor buys where rent and livability justify the price. Plan around ~4,700 new units slated for early launches and slot your shortlist by submarket and hold period.
Downside risks
Tariff escalation, geopolitics, or sudden rate moves can compress demand and slow sales quickly. MAS easing and a strong currency offer some cushion, but you must pre‑decide stop‑loss responses.
Actionable next steps
- Map a base and downside plan that includes BSD/ABSD math and stamp duty timing.
- Keep a shortlist across segments so you can pivot as new launches come online in july 2025.
- Hedge exposure with fixed or hybrid interest rates if you expect volatility.
| Scenario | Key numbers | Priority action |
|---|---|---|
| Base | +3%–4% price; 8k–9k new sales; 14k–15k resale | Shortlist & pre‑approve |
| Downside | Tariff or rate shock; slower sales | Delay discretionary bids; protect liquidity |
| Opportunity | Early pricing on new launches; land sales clarity | Move on well‑priced units; negotiate |
WhatsApp BuySellRent for a discovery session. We’ll deliver your base/downside plan, unit picks, BSD/ABSD math, and a tailored financing path so you can act with confidence this year.
Conclusion
,
Imagine closing the chapter with a compact plan. Q2 shows private prices +0.5% QoQ and HDB resale +0.9% with 6,981 transactions and 415 million‑dollar flats. CCR strength, an RCR dip, ~4,700 units slated, active GLS bidding, a 0%–2% GDP guide, MAS easing, and foreigners at ~1.3% shape the backdrop.
Your playbook is simple and actionable. First, shortlist three units and secure pre‑approval. Second, map exit liquidity by comparing resale bands and flats data. Third, stress test financing for interest and rates and lock a buffer for cooling measures.
WhatsApp BuySellRent for a discovery session and leave with those three clear moves so you can act this quarter with confidence.
FAQ
How have price trends changed in the latest flash estimates and what should you expect in the near term?
The latest URA and HDB flash estimates show slower price growth with a more balanced volume profile. Expect modest monthly gains rather than large jumps—roughly 3%–4% annualised in the base case—unless external shocks or policy shifts occur. For buyers, this means more negotiating room; for sellers, realistic pricing tied to recent comparable transactions is key.
What factors are driving the moderation in activity and prices this month?
Several forces are at play: fewer new launches reduced fresh demand; global trade tensions and tariff risks dented investor sentiment; and existing cooling measures—LTV limits, TDSR, SSD and ABSD—keep leverage and speculative flows in check. Together they create a more cautious backdrop for transactions.
How did private residential segments perform overall and regionally in Q2?
Overall private prices rose modestly, with landed homes outpacing non‑landed. Core Central Region (CCR) recorded stronger gains, OCR held steady, while RCR softened due to an RCR‑heavy launch mix. Developers’ sales slowed versus Q1, reflecting the quieter launch pipeline.
What’s happening with HDB resale prices and volumes? Are million‑dollar flats common now?
Resale prices eased to gentler gains, while transaction volumes firmed up. The market recorded a notable rise in million‑dollar flats, reflecting scarcity in central mature estates and strong demand for larger or well‑located units. Supply constraints and lending rules still limit broad‑based price surges.
How do macro headwinds and interest‑rate dynamics affect mortgage costs and affordability?
Global trade shocks and central bank stances feed into risk sentiment and currency moves. A stronger SGD and signs of easing global rates can lower borrowing costs, but domestic mortgage pricing remains sensitive to MAS guidance and banks’ risk appetites. Buyers should stress‑test purchases for higher rates to preserve affordability.
Who is buying now and how does ABSD influence buyer mix?
Demand remains locally led, with foreigners making up a small share of non‑landed purchases after higher ABSD rates. Investor activity is selective; owner‑occupiers dominate transactions at mid and lower price bands. ABSD continues to be an effective deterrent for speculative foreign flows.
What supply and launch pipeline should you watch for the July–August window?
Developers plan a Q3 ramp‑up after a Q2 lull, with several projects targeted to hit the market before Ghost Month. Early pricing will be sensitive as developers test demand, so initial units often set tone for subsequent phases. Track developer marketing calendars and showflat openings closely.
How is government land sales (GLS) activity shaping developer confidence and pricing expectations?
GLS bidding has picked up in pockets, indicating improved developer appetite, though price gaps between CCR and OCR persist. Stronger GLS participation can signal developer confidence but also raises the threshold for workable land bids and future launch pricing.
Are cooling measures still effective and could they change soon?
Cooling tools like LTV, SSD, TDSR and ABSD remain effective in moderating leverage and speculation. The government has occasionally adjusted guardrails in past cycles; industry voices are calling for tweaks such as shortening the 15‑month wait‑out for ex‑private owners, but any changes would be carefully calibrated to preserve stability.
What are the key stamp duty and tax considerations when buying or selling now?
Buyers should budget for Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD) where applicable; sellers need to factor in Seller’s Stamp Duty (SSD) for quick flips. These levies materially affect transaction math and influence holding periods, so include them in cash‑flow and return analyses before committing.
How should you read the draft master plan when choosing locations for long‑term value?
Use the draft master plan to identify transport nodes, growth corridors and amenity upgrades that lift long‑term demand. Prioritise connectivity and planned public infrastructure if you seek resilient capital appreciation; favour outer regions for value and central pockets for income or prestige plays.
What scenarios should buyers and investors prepare for in 2H and how can they act now?
Prepare for a base case of modest price growth and steady transaction volumes, but stress‑test for downside shocks like tariff escalation or rate surprises. Act by locking in pre‑approval, vetting cash buffers, and seeking advice from agents or financial advisers. For tailored guidance, consider a consultation with BuySellRent to align strategy with your goals.
