Singapore September Private Home Sales Rebound with Regional Splits
Singapore's new private home sales surged to 296 units in September, nearly doubling from August, driven by a rebound in activity after the Hungry Ghost Festival and limited new launches.
Developers in Singapore sold 296 new private homes in September, a 93.5% increase from the 153 units sold in August. Sales were also 16.1% higher than the 255 units transacted in the same month last year, with two-thirds of September’s transactions occurring after September 10. Previously launched projects accounted for about 92% of the month’s total sales volume.
Regional sales distribution highlights OCR and RCR dominance
The sales rebound was not evenly distributed across Singapore's market segments. The Rest of Central Region (RCR) accounted for 131 units, or 44.3% of September’s total sales. The Outside Central Region (OCR) contributed 125 units, representing 42.2% of the total. In contrast, the Core Central Region (CCR) recorded just 40 units, making up 13.5% of the month's transactions.
Project-level performance shows Amberwood and Terra Hill strength
Project-level activity was led by a handful of developments. Amberwood at Holland was the only new project launched in September. It sold 24 of the 70 units released during its initial phase at a median price of S$3,021 per square foot. More than 60% of its September sales involved four- and five-bedroom units. Meanwhile, the previously launched Terra Hill sold 32 units at a median price of S$2,209 psf and was about 92% sold by the end of the month. Discounts of approximately 15% to 18% helped Terra Hill record its strongest monthly sales since its February 2023 launch. Another project, The Sen, sold 25 units at a median price of S$2,386 psf.
| Project | Units Sold in Sept | Median Price (psf) | Notes |
|---|---|---|---|
| Amberwood at Holland | 24 | S$3,021 | 70 units launched in initial phase |
| Terra Hill | 32 | S$2,209 | ~92% sold by month-end |
| The Sen | 25 | S$2,386 | Previously launched project |
Price segmentation shifts toward higher-end units
The sales composition shifted noticeably toward higher price brackets in September. Units priced below S$2.5 million accounted for 38.8% of new non-landed private home sales, down sharply from 60.3% in August. Conversely, the share of units priced between S$2.5 million and S$3 million rose to 23.1% in September, up from 13.5% the previous month. The priciest new non-landed private transaction was an S$11.48 million (S$5,498 psf) unit at Skywaters Residences. This also stood as the priciest new home sold overall that month, topping an S$8.88 million semi-detached house at Tuan Sing Park.
As of October 15, the number of new sales for October had already reached 380 units. Christine Sun noted, "As at Oct 15, the number of new sales for October at 380 has already surpassed the 296 deals in September."
