Huttons comments on Dec 2025 developers’ sales

Source: URA, Huttons Data Analytics as of 15 Jan 2026

Purchases by Foreigners
A foreigner bought a 4,489-sq ft unit in 21 Anderson for $23.3 million in Dec 2025.

In 2025, the proportion of foreigners was 1.4%, similar to 2024. However, it is a steep plunge from the 11.5% in 1Q 2023 before the increase in ABSD to 60% for foreigners buying a residential property in Singapore in Apr 2023.

With private property prices decelerating for the fourth year from 10.6% in 2021 to an estimated 3.4% in 2025, it may be timely to review the ABSD rates on foreigners.

Instead of an outright removal, the Government can consider different tax tiers for different quantum. For example, 30% ABSD for purchases up to $10 million, 40% ABSD for purchases above $10 million and up to $20 million, 60% for purchases above $20 million.

Proportion of Purchase by Foreigners

Source: URA, Huttons Data Analytics as of 15 Jan 2026

Executive Condominiums
Developers sold 37 EC units in Dec 2025 with only 17 EC units remaining unsold.

There were two EC project launches in 2025 – Aurelle of Tampines and Otto Place.

Aurelle of Tampines was fully sold within one month of launch while Otto Place is left with only 10 unsold units as of end-Dec 2025.

Outlook
In 2026, there may be up to 27 new private residential launches with an estimated 11,171 units.

Around 83% of the units (excluding ECs) are in the Rest of Central Region (RCR) and Outside Central Region (OCR).

In the private market, Narra Residences and Newport Residences will preview in Jan 2026 while River Modern will preview on the weekend of the Lunar New Year.

Narra Residences is very attractively priced with prices very close to some resale EC projects. Newport Residences is a highly anticipated rare freehold mixed-use project in the CBD.

EC launches are all located in the East in 2026. As of mid-Jan 2026, Otto Place (EC) is fully sold and there are just a handful of unsold EC units in the market. Based on the number of electronic applications, Coastal Cabana (EC) should sell very well in Jan 2026.

Barring unforeseen circumstances, transaction volume is estimated to be between 8,000 and 10,000 units while prices are estimated to grow between 2% and 5% in 2026.

Upcoming Projects in 2026