There are signs of further stabilisation in the housing market as both private home prices and HDB resale flat prices rose at a slower clip in Q3 2025 from the previous quarter. The moderation in price growth came amidst stronger sales during the quarter, as demand continues to be resilient.

Q3 2025 URA Private Residential Property Index

Prices of private homes rose by 0.9% in Q3 2025, compared with the 1.0% QOQ price growth in the previous quarter (see Table 1). The increase is partly due to the strong sales performance at new launches during the quarter, including at several projects in the city. The final data is slightly lower than the flash estimates of a 1.2% QOQ growth that was released on 1 October. Cumulatively, the URA PPI has risen by 2.7% in the first nine months of 2025 (9M 2025) - higher than the 1.6% increase in 9M 2024.

Table 1: URA Private Property Price Index (PPI) Q3 2025

The price increase in Q3 2025 was led by the landed homes segment where prices rose by 1.4% QOQ, followed by the non-landed private home segment with a 0.8% QOQ price growth. Among non-landed homes, the Core Central Region (CCR) achieved the steepest price increase at 1.7% QOQ in Q3 2025, building on the 3% QOQ in the previous quarter. In 9M 2025, CCR home prices have climbed by a cumulative 5.6% - outpacing that of the other sub-markets amid a recovery in the CCR in Q3 2025.

In the Rest of Central Region (RCR), private home prices booked a trim 0.3% QOQ gain in Q3 2025, reversing the 1.1% QOQ decline in the previous quarter. Meanwhile, prices in the Outside Central Region (OCR) rose by 0.8% QOQ, following the 1.1% QOQ growth in Q2 2025. Cumulatively, RCR and OCR prices increased by 0.9% and 2.2%, respectively in 9M 2025.

New home sales were up significantly to 3,288 units (ex. EC) in Q3 2025 from 1,212 units in Q2 2025 as new launches enjoyed strong buying interest. PropNex notes that the new projects that were launched in Q3 2025 witnessed a combined take-up rate of nearly 77% in the quarter (see Table 2), signaling resilient demand for new private homes among local buyers. In the 9M 2025 period, new private home sales stood at 7,875 units (ex. EC), which is already at a multi-year high. During the quarter, developers launched 4,191 units (ex. EC) for sale - more than doubled the 1,520 units launched in the previous quarter.

Table 2: Projects (ex. EC) launched and units sold in Q3 2025

Project	Launch	Units sold	Total units	Take-up rate
SPRINGLEAF RESIDENCE	August	881	941	93.6%
RIVER GREEN	August	465	524	88.7%
PROMENADE PEAK	August	337	596	56.5%
LYNDENWOODS	July	336	343	98.0%
CANBERRA CRESCENT RESIDENCES	August	238	376	63.3%
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