Singapore Luxury Residential Figures H2 2025

Executive Summary

• In H2 2025, 20 GCBs worth $783.29 mil were transacted, up 40.0% from the $559.63 mil across 16 deals in H1 2025. This brought 2025’s full-year sales tally to a 3-year high of 36 GCBs amounting to $1.343 bn.
• After a period of heightened volatility stemming from trade frictions earlier in the year, the GCB market staged a firm recovery, supported by low interest rates, resilient economic growth and buoyant financial markets.
• Looking ahead, the recent escalation in the US–Iran conflict may contribute to softer GCB volumes in H1 2026 as buyers assess evolving geopolitical risks. However, activity in the GCB market could regain traction in H2 2026.
• Sentosa Cove sales edged up in H2 2025 from a low H1 base, tracking the broader pickup in mainland luxury market activity. Prices for both bungalows and condominiums declined.
• Luxury apartment sales surged on lower interest rates and robust new developer sales. 57 units worth $705.81 mil changed hands, up 24.0% h-o-h from $569.26 mil across 44 units in H1. For the full year, 101 units totalling $1.275 bn were transacted, more than doubling the $608.17 mil from 54 deals in 2024. Average prices rose 5.0% to $3,694 psf, from $3,517 psf in 2024.
• While the steep ABSD regime since 2023 continues to weigh on the luxury residential market, particularly in Sentosa Cove, mainland luxury apartment sales saw a notable uptick in 2025. Looking ahead, buying sentiment is expected to stay broadly positive in 2026, although transaction activity may ease in the near term amid heightened uncertainty following the US–Iran conflict.