As of mid-2025, Singapore’s property market remains resilient, supported by stable demand across both public and private housing segments. Buyer sentiment is largely driven by owner-occupiers, particularly for projects located near MRT stations, established amenities, and upcoming growth nodes. While there is still interest in the luxury and Core Central Region (CCR) segments, foreign demand has moderated due to existing cooling measures and global economic uncertainties. The Government Land Sales (GLS) programme continues to play a key role in supplying private residential land, with 8,505 units offered in the first half of 2025—an increase from 8,140 in the second half of 2024. Meanwhile, the unsold inventory of uncompleted private homes remains low at around 18,125 units, significantly below previous downturn levels, which helps mitigate the risk of oversupply.
On the public housing front, the government has maintained a strong pipeline of Build-To-Order (BTO) projects to meet the ongoing demand and address housing affordability. HDB resale prices, which rose sharply during the pandemic years, have begun to stabilise as new supply enters the market and recent policy refinements take effect. In the private residential sector, prices have seen modest year-on-year growth of between 1% and 3%, reflecting a more measured pace compared to the sharp increases observed in 2021 and 2022. The rental market has also cooled from its peak, as more project completions have eased the tight leasing environment.
Policy measures such as the Additional Buyer’s Stamp Duty (ABSD), Total Debt Servicing Ratio (TDSR), and loan tenure caps continue to ensure financial prudence among buyers. The government’s approach remains calibrated, aiming to balance housing affordability with market stability. Looking ahead, demand is expected to remain steady, underpinned by infrastructure enhancements such as the Cross Island Line (CRL) and the development of strategic areas like the Greater Southern Waterfront. While global headwinds—including interest rate fluctuations and geopolitical tensions—pose risks, the overall outlook for Singapore’s property market remains cautiously optimistic, backed by strong fundamentals and prudent regulatory oversight. Tengah Garden the new mixed development right at Hong Kah MRT station, served as the central of the new town in the western of Singapore.