Singapore Private Home Prices See Slowest Growth in Five Quarters in Q4 2025

Private home prices in Singapore experienced a slowdown in growth during the fourth quarter of 2025, rising by 0.7% quarter-on-quarter compared to a 0.9% increase in Q3, according to preliminary estimates. This marks the weakest quarterly growth in five consecutive quarters, despite the continued upward trend. It is also the fifth straight quarter of price gains, but at a more moderate pace, indicating a gradual cooling of the residential property market.

The slower growth was due to varied performance across property segments. Landed property prices rose strongly by 3.5%, up from a 1.4% increase in Q3, providing partial support to the market. In contrast, non-landed property prices declined by 0.1%, reversing a 0.8% rise in the previous quarter, mainly due to a 3.2% drop in the Core Central Region, which had previously grown by 1.7% in Q3. This decline was partially offset by:
- A 0.7% price increase in the Rest of Central Region, up from 0.3% previously
- Faster growth in the Outside Central Region, with prices rising 1.0% compared to 0.8% in Q3

On a full-year basis, private home prices in 2025 rose by 3.4%, the slowest annual increase since 2020, reflecting the impact of regulatory measures and moderated demand after years of strong gains.

EcoPulse24 Analysis:
The Q4 slowdown indicates a gradual shift toward a more balanced market, with momentum easing especially in non-landed properties in central areas. However, the strong performance of landed properties suggests continued selective demand for higher-value segments. Overall, 2025 data points to a more stable and less overheated property market, potentially easing price pressures for buyers as 2026 approaches.