[SINGAPORE] Developers in Singapore sold 1,575 private homes in February, about 10 times the 153 units moved a year earlier and 45.4 per cent more than the total sold in January, data released by the Urban Redevelopment Authority showed on Monday (Feb 17).
The latest new sales tally, excluding executive condominiums (ECs), also counts the highest ever number of new suburban condo units transacted for at least S$2 million in one month, according to Christine Sun, OrangeTee Group chief researcher and strategist. The total previous record, since 1995 when URA’s data first became available, was in November 2024 when there were 512 of such transactions, noted Sun.
February’s developers’ sales are also the second highest sales for that month in 13 years, since 2012 when 2,417 units were sold.
The buying spurt that started in the last quarter of 2024 continued into the start of the new year at pace, analysts said.
“It is just two months into the new year and a total of 2,658 new sales (excluding ECs) have been recorded in January and February 2025,” said Leonard Tay, research head at Knight Frank Singapore. “In comparison, it took eight months from January to August in 2024 to reach a total of 2,714 units, based on monthly developer sales data with just 2,503 units sold from January to July 2024.”
Sales were driven by the two major launches last month – Parktown Residence in Tampines and Elta in Clementi.
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Of the 603 units sold for at least S$2 million, close to 400 were transacted at Parktown Residence, where some 57 units were sold for between S$3 million and S$5 million, Sun observed.
Singaporeans made up 92.4 per cent of buyers in February 2025, while permanent residents accounted for 6.9 per cent, said Huttons’ head of research Lee Sze Teck.
The two priciest new homes sold in the month were units at 32 Gilstead, which were bought by foreigners, Lee added.
Including ECs, 1,604 units were sold in February with 1,694 units launched, versus the 187 units sold and 45 units launched in the same month in 2024. In comparison, 1,104 units were sold and 896 units were launched in January 2025.
