A report from Savills indicates a slight 0.2% quarter-over-quarter increase in Singapore’s planned residential housing supply (excluding executive condominiums) to 35,364 units by the end of the first quarter of 2025, following three straight quarters of decline. Of this total, 18,125 units, or 51.3%, remained unsold.
The inventory of unsold properties has now decreased for three consecutive quarters, with a notable 6.6% drop in Q1 2025. This contraction is significantly larger than the 3.0% and 2.7% decreases seen in the third and fourth quarters of 2024, respectively. The steady reduction in unsold stock is likely driven by stronger sales in the primary market as lower interest rates have encouraged homebuyers.
Looking ahead, several relatively large-scale residential projects are scheduled to launch in the Core Central Region (CCR), including River Green (525 units), Promenade Peak (596 units), Marina View Residences (683 units), and a development on Zion Road with approximately 706 residential units. The largest upcoming project islandwide is One Marina Gardens, which could add up to 937 units.
However, ongoing tariff wars are creating economic uncertainty, which may lead prospective homebuyers to be more cautious and delay their purchasing decisions. This could potentially slow the pace of new home sales in the future.
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