In the Core Central Region, prices of non-landed properties increased by 0.8 per cent in the first quarter of 2025, compared with the 2.6 per cent increase in the previous quarter.
For the Rest of Central Region, prices rose by 1.7 per cent in Q1 2025, compared with the 3.0 per cent in the previous quarter.
Prices in the Outside Central Region increased by 0.3 per cent in Q1 of this year, compared with the 3.3 per cent increase in the previous quarter.
The Q1 2025 performance “suggests that demand in the private resale segment remains resilient despite macroeconomic headwinds,” Mr Sandrasegeran.
“Overall, the figures underscore a continued recovery and interest in the resale market, particularly from buyers seeking move-in ready homes amid limited new launch supply.”
RENTALS
For the public housing market, HDB said that the number of approved applications to rent out flats rose by 12.3 per cent in the first quarter of 2025, climbing from 8,603 cases in the previous quarter to 9,662.
Compared to the same period last year, this marks a 2.8 per cent increase, HDB said. As at the end of Q1 2025, a total of 59,567 HDB flats were rented out – up 0.9 per cent from 59,043 units in the fourth quarter of 2024.
As for the private market, rentals of private residential properties increased by 0.4 per cent in Q1 2025, after remaining unchanged in the previous quarter, URA said.
Rentals of landed properties increased by 0.3 per cent in the first quarter of 2025, compared with the 1.8 per cent decrease in the previous quarter.
For non-landed properties, rentals increased by 0.5 per cent in Q1 2025, compared with the 0.2 per cent increase in Q4 2024.
Ms Christine Sun, chief researcher and strategist at OrangeTee group, said that some companies may slow down their expat hiring in light of the uncertain economic outlook, which may impact the private rental market.
“Nevertheless, the declining supply of completed homes, along with the lowering of interest rates, which helps reduce business financing costs, may mitigate a significant rental price correction,” she said.
In the Core Central Region, rentals of non-landed properties increased by 0.4 per cent in Q1 2025, down from the 0.9 per cent increase in the previous quarter.
Rentals in the Rest of Central Region increased by 0.4 per cent in Q1 2025, up from the 0.3 per cent increase in the previous quarter.
For Outside Central Region properties, rentals increased by 0.7 per cent in Q1 2025, compared with the 0.8 per cent decrease in the last quarter.
Huttons’ Mr Lee said those economic uncertainties have enhanced the position of Singapore as a safe haven.
“Ultra-high-net-worth-individuals may choose to relocate to Singapore and rent luxury homes in the Core Central Region,” he said.
“In the next two years, the Core Central Region will experience a very low supply of completed homes. Landlords … may see better growth in rents in the coming years,” he added.