Release of 3rd Quarter 2025 real estate statistics

1 The Urban Redevelopment Authority (URA) released today the real estate statistics for 3rd Quarter 2025.

PRIVATE RESIDENTIAL PROPERTIES
Private residential market at a glance:

* Figures exclude Executive Condominium (ECs)

Prices and Rentals

2 Prices of private residential properties increased by 0.9% in 3rd Quarter 2025, compared with the 1.0% increase in the previous quarter.

Property Price Index of private residential properties

3 Prices of landed properties increased by 1.4% in 3rd Quarter 2025, compared with the 2.2% increase in the previous quarter. Prices of non-landed properties increased by 0.8% in 3rd Quarter 2025, compared with the 0.7% increase in the previous quarter. 

4 Prices of non-landed properties in Core Central Region (CCR) increased by 1.7% in 3rd Quarter 2025, compared with the 3.0% increase in the previous quarter. Prices of non-landed properties in Rest of Central Region (RCR) increased by 0.3% in 3rd Quarter 2025, compared with the 1.1% decrease in the previous quarter. Prices of non-landed properties in Outside Central Region (OCR) increased by 0.8% in 3rd Quarter 2025, compared with the 1.1% increase in the previous quarter (see Annex A-1 [PDF, 26 KB]¹).

5 Rentals of private residential properties increased by 1.2% in 3rd Quarter 2025, compared with the 0.8% increase in the previous quarter.

Rental Index of private residential properties

6 Rentals of non-landed properties increased by 1.1% in 3rd Quarter 2025, compared with the 0.8% increase in the previous quarter. Rentals of landed properties increased by 2.4% in 3rd Quarter 2025, compared with the 0.7% increase in the previous quarter.

7 Rentals of non-landed properties in CCR decreased by 0.5% in 3rd Quarter 2025, compared with the 1.8% increase in the previous quarter. Rentals of non-landed properties in RCR inceased by 1.8% in 3rd Quarter 2025 after remaining unchanged in the previous quarter. Rentals of non-landed properties in OCR increased by 2.5% in 3rd Quarter 2025, compared with the 0.1% increase in the previous quarter (See Annex A-2 [PDF, 26 KB]).

Launches and Take-up

8 Developers launched 4,191 uncompleted private residential units (excluding ECs) for sale in 3rd Quarter 2025, compared with the 1,520 units in the previous quarter (see Annex C [PDF, 30 KB]).

9 Developers sold 3,288 private residential units (excluding ECs) in 3rd Quarter 2025, compared with the 1,212 units sold in the previous quarter (see Annex D [PDF, 88 KB] ).

Number of private housing units launched and sold by developers (excluding ECs)

10 Developers launched 600 EC units for sale in 3rd Quarter 2025 and sold 571 units in the quarter (see Annex F [PDF, 85 KB]). In comparison, developers did not launch any EC units for sale and sold 149 EC units in the previous quarter.

Resales and Sub-sales

11 There were 3,881 resale transactions in 3rd Quarter 2025, compared with the 3,647 units transacted in the previous quarter. Resale transactions accounted for 52.4% of all sale transactions in 3rd Quarter 2025, compared with 71.1% in the previous quarter (see Annex D [PDF, 88 KB]).

12 There were 235 sub-sale transactions in 3rd Quarter 2025, compared with the 269 units transacted in the previous quarter. Sub-sales accounted for 3.2% of all sale transactions in 3rd Quarter 2025, compared with 5.2% in the previous quarter (see Annex D [PDF, 88 KB]). 

Number of resale and sub-sale transactions for private residential units (excluding ECs)

Supply Completions

13 A total of 3,010 private residential units (including ECs) were completed in 3rd Quarter 2025, bringing the total supply completed in the first three quarters of 2025 to 5,978 units (See Annex E-4 [PDF, 29 KB]). 

Supply in the Pipeline

14 There has been a progressive ramp-up in the overall private housing supply through the Government Land Sales (GLS) programme in recent years. For the whole of 2025, the Government will be releasing a total of 9,755 private housing units via the GLS Confirmed List, or around 50% higher than the annual average Confirmed List supply from 2021 to 2023. 
 
15 As at the end of 3rd Quarter 2025, there was a total supply of 36,814 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals, of which 17,029 units remained unsold (see Annexes E-1 [PDF, 77 KB], E-2 [PDF, 85 KB], B-1 [PDF, 25 KB] & B-2 [PDF, 28 KB]). After adding the supply of 4,056 EC units in the pipeline, there were 40,870 units (including ECs) in the pipeline with planning approvals, of which 18,412 units remained unsold, compared to 20,435 units as at the end of 2nd Quarter 2025 (see Annex E-3 [PDF, 29 KB]).

Total number of unsold private residential units in the pipeline

16 Adding the supply of unsold units (including ECs) in the supply pipeline with planning approval, and those that have not been granted planning approval yet, around 31,600 units (including ECs) could be made available for sale over the next one to two years. These include the supply of about 10,000 units on the Confirmed List of the GLS programme in 2025.

17 Based on the expected completion dates reported by developers, there are a total of about 54,000 private housing units expected to be completed in the coming few years. These comprise about 30,000 units (including ECs) expected to be completed between 2025 and 2028. More supply amounting to about 24,000 units is expected to be completed in 2029 and beyond. 

Pipeline supply of private residential units and ECs by expected year of completion

Stock and Vacancy

18 The stock of completed private residential units (excluding ECs) increased by 1,514 units in 3rd Quarter 2025, compared with the increase of 273 units in the previous quarter. The stock of occupied private residential units (excluding ECs) increased by 2,640 units in 3rd Quarter 2025, compared with the decrease of 2,585 units in the previous quarter. As a result, the vacancy rate of completed private residential units (excluding ECs) decreased to 6.9% as at the end of 3rd Quarter 2025, from 7.1% in the previous quarter (see Annex E-1 [PDF, 77 KB]).

Stock and vacancy of private residential units (excluding ECs)

19 Vacancy rates of completed private residential properties as at the end of 3rd Quarter 2025 in CCR, RCR and OCR were 9.9%, 6.7% and 5.6% respectively, compared with the 10.7%, 7.2% and 5.6% in the previous quarter.

OFFICE SPACE Office market at a glance:

Prices and Rentals

20 Prices of office space decreased by 0.2% in 3rd Quarter 2025, compared with the 1.1% decrease in the previous quarter (See Annex A-1 [PDF, 26 KB]). Rentals of office space decreased by 0.1% in 3rd Quarter 2025, compared with the 0.3% decrease in the previous quarter (See Annex A-2 [PDF, 26 KB] & A-3 [PDF, 92 KB]). 

Property Price Index of office space in Central Region

Rental Index of office space in Central Region

Note: Office rental statistics, including breakdown by location, floor area and building class, as well as street-level rental data, are updated quarterly and can be accessed at https://eservice.ura.gov.sg/property-market-information/pmiCommercialRentalOfficeAnalysis and https://eservice.ura.gov.sg/property-market-information/pmiCommercialRentalStatsByStreet

Supply in the Pipeline

21 As at the end of 3rd Quarter 2025, there was a total supply of about 870,000 sq m GFA of office space in the pipeline, compared with the 868,000 sq m GFA of office space in the pipeline in the previous quarter (see Annexes E-1 [PDF, 77 KB] & E-2 [PDF, 85 KB]).

Pipeline supply of office space

Stock and Vacancy

22 The amount of occupied office space increased by 1,000 sq m (nett) in 3rd Quarter 2025, compared with the increase of 9,000 sq m (nett) in the previous quarter. The stock of office space decreased by 24,000 sq m (nett) in 3rd Quarter 2025, compared with the decrease of 18,000 sq m (nett) in the previous quarter. As a result, the island-wide vacancy rate of office space decreased to 11.2% as at the end of 3rd Quarter 2025, from 11.4% as at the end of the previous quarter (see Annexes A-3 [PDF, 92 KB] & E-1 [PDF, 77 KB]).

Stock and vacancy of office space

Note: Vacancy rate statistics for office spaces, including breakdown by building class, are updated quarterly and can be assessed at https://eservice.ura.gov.sg/property-market-information/pmiCommercialTimeseries

RETAIL SPACE

Retail market at a glance:

Prices and Rentals

23 Prices of retail space decreased by 0.7% in 3rd Quarter 2025, compared with the 0.1% increase in the previous quarter (See Annex A-1 [PDF, 26 KB]). Rentals of retail space increased by 0.9% in 3rd Quarter 2025, same as the increase in the previous quarter (See Annex A-2 [PDF, 26 KB]).

Property Price Index of retail space in Central Region

Rental Index of retail space in Central Region

Note: Retail rental statistics, including breakdown by postal district, floor level and floor area, as well as street-level rental data, are updated quarterly and can be accessed at https://eservice.ura.gov.sg/property-market-information/pmiCommercialRentalRetailAnalysis and https://eservice.ura.gov.sg/property-market-information/pmiCommercialRentalStatsByStreet 

Supply in the Pipeline

24 As at the end of 3rd Quarter 2025, there was a total supply of about 530,000 sq m GFA of retail space in the pipeline, compared with the 527,000 sq m GFA of retail space in the pipeline in the previous quarter (see Annexes E-1 [PDF, 77 KB] & E-2 [PDF, 85 KB]).

Pipeline supply of retail space

Stock and Vacancy

25 The amount of occupied retail space increased by 22,000 sq m (nett) in 3rd Quarter 2025, compared with the decrease of 16,000 sq m (nett) in the previous quarter. The stock of retail space increased by 6,000 sq m (nett) in 3rd Quarter 2025, same as the increase in the previous quarter. As a result, the island-wide vacancy rate of retail space decreased to 6.9% as at the end of 3rd Quarter 2025, from 7.1% as at the end of the previous quarter (see Annexes A-3 [PDF, 92 KB] & E-1 [PDF, 77 KB]).

Stock and vacancy of retail space

Note: Vacancy rate statistics for retail spaces, including the breakdown by location, are updated quarterly and can be accessed at https://eservice.ura.gov.sg/property-market-information/pmiCommercialTimeseries

URA’S REAL ESTATE INFORMATION SERVICE

26 Real estate information, such as time series statistics, are available on the URA website. Visit https://eservice.ura.gov.sg/property-market-information/pmiResidentialTimeseries for time series statistics on private residential properties and https://eservice.ura.gov.sg/property-market-information/pmiCommercialTimeseries for time series statistics on commercial properties.

27 Detailed information on the price and rental indices, supply in the pipeline, stock and vacancy rates of the various property sectors can be found in the Real Estate Information System (REALIS) at https://eservice.ura.gov.sg/reis. A subscription is required to access REALIS.

28 The figures in this release are accurate as of 24 October 2025. Please visit the URA website or REALIS for the most updated figures.

¹ The prices of private residential properties are not uniform and vary from project to project. Home-buyers can view more detailed information on transactions of private residential properties at https://eservice.ura.gov.sg/property-market-information/pmiResidentialTransactionSearch. Similar information can also be accessed by users on the go via URA’s iphone/ipad application. The application can be downloaded directly from https://itunes.apple.com/app/property-market-information/id573494340?mt=8.

SUMMARY OF KEY INFORMATION FOR 3RD QUARTER 2025