Luxury condo deals surge 63.6% q-o-q in 1Q2025; 17 units sold for $10 million or more: Huttons
The 72 condo 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 flats, or 64 units, were resell offers, while the standing 8 were new units offered by property developers.
In the luxury house industry, the prime non-landed sector viewed an upsurge in activity in 1Q2025. According to a study record by Huttons Asia, 72 luxury flat units transacted in 1Q2025, jumping 63.6% q-o-q matched up to the previous quarter, and much higher 35.8% y-o-y. This is the greatest quarterly deluxe condo sales volume in 2 years, claims Huttons.
Nonetheless, Huttons indicates that there is “little sign of trouble” in the resale luxury condominium market currently. Simultaneously, even more brand-new plans might introduce in the following months, that will suit ultra-high-net-worth people, who stay confident in Singapore’s condition as a safe house.
Huttons attributes the rental growth to a better range of foreigners leasing luxury homes while waiting for the approval of their long-term residency in Singapore. The demand helped enhance regular monthly rents for 3- and four-bedroom units, that rose 9.4% q-o-q to $12,255 and 7.1% q-o-q to $18,066, specifically. On the flip side, month-to-month rents four five-bedroom units dropped from over $30,000 last quarter to $18,667 in 1Q2025.
The biggest deluxe condo agreement in 1Q2025 was the purchase of a five-bedroom penthouse at Park Nova. The 5,899 sq ft unit fetched $38.89 million, or $6,593 psf. The deal register the second-highest psf-price ever registered for a condo unit in Singapore, marginally lesser 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.
In terms of overview, although activity in the luxury condominium market chose in 1Q2025, momentum has actually since eased a little, claims Huttons. This happens on the back of market uncertainty adhering to tolls announced by the United States in April.
The luxury condominium rental market also grabbed in 1Q2025, with total monthly rental fees based upon Huttons’ basket of luxury non-landed homes growing 6.6% q-o-q to $14,672. This is 1.7% greater y-o-y.
For instance, 21 Anderson, Kheng Leong Co’s ultra-luxury freehold residence in the Ardmore Park-Draycott Park-Anderson Road enclave, marketed 3 units following its release in April for over $60 million in total. All 3 are four-bedroom units of 4,489 sq ft, priced from $20.97 million ($4,672 psf) to around $23 million ($5,127 psf).
The increase in high-end condo sales accompanied a higher number of large-value offers. According to Hutttons, 17 units were sold for $10 million or more in 1Q2025, comparable to levels in 1Q2023 before cooling steps kicked right into gear in April 2023. Among the 17 high-value bargains, 12 were acquired by foreigners and permanent residents (PRs).
