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2025-12-15 14:27:51
[Singapore Private Residential Sales Plunge Over 80% in November, Slower Year-End Launches] 1. Data released by Singapore's Urban Redevelopment Authority (URA) on Monday showed that private residential sales (excluding executive condominiums) plummeted to 325 units in November, a decrease of over 80% compared to 2,424 units in October, and a significant decline compared to 2,560 units in the same period last year. 2. The sharp drop in sales is mainly due to developers slowing down their launch pace as the year draws to a close. Huttons Asia noted that only one new project was launched in November, far fewer than the four in October. Its CEO, Mark Yip, predicts that the market may cool further in December, with sales potentially falling to between 200 and 250 units. Marcus Chu, head of ERA Singapore, also stated that the year-end holiday season and school holidays are expected to dampen market activity. 3. However, despite the year-end market slowdown, major real estate services agencies are maintaining their full-year sales forecasts. Both Huttons and ERA expect developer sales of private residential units (excluding executive condominiums) to reach approximately 11,000 units in 2025.
