Singapore private home sales surge 196% in January 2025

Singapore's private home sales surged in January, achieving the best performance in four years, with developers selling 1,083 units, more than triple the 304 sold during the same month last year. This spike is attributed to new project launches and lower mortgage rates, alongside a strong demand for new homes. The jump in sales marks a significant rebound from December's 203 units and the highest January tally since 2021. Analysts anticipate continued strong sales in 2025, estimating between 7,000 to 9,000 new homes will be sold, driven by upcoming launches in desirable locations. Market watchers are closely monitoring the government's budget announcement for potential cooling measures, as public housing prices have recently increased. Experts emphasize the need for a balanced approach to maintain the health of the public housing market while addressing price concerns.