Growth in Secondary Residential Market
In the third quarter of 2025, sales in Singapore’s secondary residential market showed a significant increase, growing by 5.1% to reach 4,116 units. This marked the second consecutive quarter of growth, with the rate of increase being higher compared to the previous quarter, which saw a rise of 0.8%. The growth was the highest quarterly increase since Q2/2024 when the secondary sales volume rose by 36.7%. However, on a year-on-year basis, the sales were still 2.3% lower.
Insights from Savills Report
According to a report by Savills, all three market segments experienced an increase in secondary sales volume during the quarter. The most notable growth was observed in the Central Commercial Region (CCR), where secondary sales increased by 12.5% quarter-on-quarter to 737 units in Q3/2025. This was the highest amount recorded since Q2/2022, when secondary sales reached 744 units.
Similarly, secondary sales in both the Residential Core Region (RCR) and the Other Core Region (OCR) also saw increases. The RCR recorded a 4.6% rise to 1,284 units, while the OCR saw a 3.0% increase to 2,095 units.
Factors Contributing to the Increase
Several factors may have contributed to the surge in secondary sales. The low-interest rate environment is likely to have encouraged homebuyers to consider the secondary market. Additionally, high HDB resale prices, along with much higher prices for new property launches, could have made older resale units more attractive. The generally larger sizes of these older units might also have appealed to buyers looking for more space.
Key Takeaways
- The secondary residential market in Singapore showed strong growth in Q3/2025, with sales increasing by 5.1% to 4,116 units.
- This was the second consecutive quarter of growth, with the rate of increase being higher than the previous quarter.
- The CCR experienced the highest growth, with a 12.5% increase in secondary sales to 737 units.
- The RCR and OCR also saw increases, with 4.6% and 3.0% rises respectively.
- Factors such as low-interest rates, high HDB resale prices, and the size of older resale units may have influenced buyer behavior in the secondary market.