Luxury condo deals surge 63.6% q-o-q in 1Q2025; 17 units sold for $10 million or more: Huttons
The high-end apartment rental market also picked up in 1Q2025, with overall monthly rents based on Huttons’ basket of high-end non-landed homes expanding 6.6% q-o-q to $14,672. This is 1.7% higher y-o-y.
The increase in deluxe condominium purchases coincided with a higher number of large-value offers. According to Hutttons, 17 units were sold for $10 million or even more in 1Q2025, comparable to levels in 1Q2023 prior to moderating measures kicked right into gear in April 2023. Amongst the 17 high-value deals, 12 were purchased by immigrants and permanent residents (PRs).
Nonetheless, Huttons indicates that there is “little sign of trouble” in the resale high-end condominium industry presently. At the same time, even more new work might release in the upcoming months, which will suit ultra-high-net-worth consumers, that continue to be confident in Singapore’s standing as a safe house.
Coastal Cabana Hoi Hup Realty and Sunway
In the high-end housing industry, the top non-landed segment saw an upsurge in event in 1Q2025. According to a research record by Huttons Asia, 72 luxury flat units negotiated in 1Q2025, leaping 63.6% q-o-q compared to the last quarter, and increased 35.8% y-o-y. This is the highest quarterly high-end condo sales quantity in two years, says Huttons.
In regards to expectation, even though activity in the luxury condominium market picked in 1Q2025, force has since reduced a little, says Huttons. This happens on the rear of industry unpredictability following tariffs revealed by the United States in April.
Huttons attributes the rental growth to a better number of foreigners renting out upscale homes whilst waiting for the authorization of their permanent residency in Singapore. The demand helped improve monthly rents for 3- and four-bedroom units, which rose 9.4% q-o-q to $12,255 and 7.1% q-o-q to $18,066, specifically. On the flip side, regular monthly rentals four five-bedroom units dropped from over $30,000 last quarter to $18,667 in 1Q2025.
The 72 condominium units were brought a full worth of $611.4 million, 64.2% higher than the previous quarter and 59.9% higher y-o-y. The bulk of the condominiums, or 64 units, were reselling prices, while the standing eight were brand-new units offered by property developers.
As an example, 21 Anderson, Kheng Leong Co’s ultra-luxury freehold residence in the Ardmore Park-Draycott Park-Anderson Roadway territory, offered 3 units following its launch in April for over $60 million in overall. All three are four-bedroom units of 4,489 sq ft, valued from $20.97 million ($4,672 psf) to beyond $23 million ($5,127 psf).
The greatest deluxe condo unit transaction in 1Q2025 was the purchase of a five-bedroom penthouse at Park Nova. The 5,899 sq ft unit obtained $38.89 million, or $6,593 psf. The transaction register the second-highest psf-price ever registered for an apartment unit in Singapore, marginally below the $6,650 psf paid for a unit at The Marq on Paterson Hill in 2011. The Park Nova penthouse was acquired by a PR, states Huttons.
