Rising Property Prices in Singapore
Prices of private residential properties in Singapore continued to rise for the fourth consecutive quarter, increasing by 0.9% in Q3. According to a report from Savills, this growth was driven by sustained demand for such properties.
The URA property index for all private residential properties recorded a 0.9% quarterly increase in Q3/2025, marking a slight slowdown compared to the 1.0% growth seen in Q2/2025. This trend highlights the ongoing momentum in the market, albeit with some moderation.
Trends in Landed and Non-Landed Homes
The growth in landed home prices slowed down from 2.2% in Q2/2025 to 1.4% in Q3/2025. In contrast, non-landed home prices saw a slight increase, rising to 0.8% from 0.7% in the previous quarter.
For landed homes, this was the third consecutive quarter of price increases, while non-landed homes experienced their ninth consecutive quarter of growth. The continued rise in non-landed home prices is largely attributed to the higher prices of new property launches.
Regional Market Performance
Within the non-landed segment, the Central Commercial Region (CCR) saw the highest quarterly price growth at 1.7%, although this was a slowdown from the 3.0% increase in the previous quarter. This marks the fourth consecutive quarter of growth in the CCR, likely due to the success of recent property launches in the area.
In the Outer Circular Region (OCR), non-landed home prices increased by 0.8% in Q3/2025, which was a slower pace than the 1.1% growth in Q2/2025. Meanwhile, the Residential Core Region (RCR) saw a rebound in prices after a 1.1% decline in the previous quarter, with a 0.3% increase in Q3/2025.
Year-on-Year Growth and Luxury Segment
On a year-on-year basis, non-landed home prices in all three market segments showed positive changes. However, the moderation in quarterly growth suggests that prices may be stabilizing in the short term.
The luxury segment of non-landed private residential projects tracked by Savills remained relatively stable, with a marginal quarterly increase of 0.3% to S$2,626 per square foot. This was the fourth consecutive quarter of growth. On a yearly basis, prices grew by 1.7% in Q3/2025, up from 0.9% in Q2/2025. This represents the largest year-on-year increase since Q3/2023, when prices rose by 2.2%.
Conclusion
Despite the overall upward trend in property prices, the slowing rate of growth indicates a potential plateau in the market. Investors and buyers are likely to monitor future developments closely as the real estate sector continues to evolve.