April new home sales dip 9% month on month to 663 units, but are double year-ago levels
[SINGAPORE] Developers in Singapore sold 663 private homes in April, down 9 per cent from the month before, but up 120 per cent from the 301 units moved a year earlier, data released by the Urban Redevelopment Authority showed on Thursday (May 15).
Analysts attributed the month-on-month decline to the macroeconomic uncertainties brought on by US President Donald Trump's tariffs, which dampened consumers' sentiment.
However, ERA Singapore's chief executive Marcus Chu noted that the housing market remains stable even amid ongoing global uncertainty.
'Singapore's property market has continued to show resilience, supported by the mid-to-long-term outlook held by most domestic buyers. This remains a significant factor in keeping local buying activity grounded in actual housing needs, as opposed to speculative demand,' he said.
Sales were driven by two major launches in city-fringe locations in the Rest of Central Region last month – Bloomsbury Residences at Media Circle and One Marina Gardens in Marina South. The two projects made up almost three-quarters of total sales in April.
Huttons Asia's senior director of data analytics Lee Sze Teck noted that 21 Anderson, an ultra-luxury residential non-landed project, sold three units last month for more than S$60 million in total, with one unit going for S$5,127 per square foot.
'Being able to achieve these prices is a reflection of the confidence the ultra-high-net-worth individuals have in Singapore's ultra-luxury homes and Singapore's status as a safe haven in times of instability,' he said.
Including executive condominiums, 759 units were sold in April with 1,344 units launched, versus 363 units sold and 278 units launched in the same month in 2024. In comparison, 1,510 units were sold and 1,315 units were launched in March 2025.
Singaporeans made up 85.5 per cent of buyers in April 2025, while permanent residents accounted for 12 per cent, said Lee.
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