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2025


Industrial Report — Q4 2025
The JTC all industrial rental index rose 0.5% in Q4 2025, with all segments posting positive growth, even as overall occupancy dipped to 88.7% on the back of strong completions. Industrial rents are expected to grow steadily at 1% to 3% through 2026.


Digest — Singapore — Q4 2025
Singapore's investment sales strengthened to S$13.7 billion in Q4 2025, underpinned by easing interest rates and broad buyer confidence across office, retail, industrial, and government land segments. Office and industrial markets held firm with rising rents and occupancy, while retail remained stable on resilient domestic demand and 16.9 million visitor arrivals for the full year. Residential prices grew at a slower pace of 0.6% in Q4, though total sales hit a four-year high


Retail Report — Q4 2025
Singapore's retail market remained stable in Q4 2025, with island-wide occupancy edging up to 93.7% on resilient suburban demand and steady city-area absorption. New supply is expected to stay limited through 2026 and 2027, supporting rental growth projections of 1.5% to 2.5% along prime Orchard/Scotts Road and 1% to 2% across other city and fringe/suburban locations.


Office Report — Q4 2025
Island-wide office occupancy rose to 95.1% in Q4 2025 — the highest since Q1 2024 — driven by net absorption in the CBD, with Central Region rents edging up 0.4% quarter-on-quarter supported by premium Marina Bay pricing. Capital values continued to soften, with the Central Region office price index slipping 0.7% quarter-on-quarter, even as large-ticket transactions such as MBFC Tower 3 kept deal activity supported.


Private Residential Sales & Rental — Q4 2025
Private home prices continued to rise in Q4 2025, with the URA price index up 0.6% quarter-on-quarter and 3.3% for the full year — the slowest annual growth since 2020 — while total sales reached a four-year high of 26,492 units driven by strong new home demand. Rentals eased modestly on seasonal factors, though overall occupancy held at around 94%, keeping the leasing market on stable footing.


Luxury Market — Q4 2025
Luxury home sales climbed to a 13-quarter high in Q4 2025, with 184 transactions above S$5 million in the Core Central Region driven by new launches, as Singaporeans accounted for 73.4% of purchases amid continued foreign buyer restraint. Ultra-luxury demand held firm, with stable deal volumes above S$10 million and sustained acceptance of premium pricing including transactions exceeding S$6,000 psf.


Commercial & Industrial — Q3 2025
Vision Exchange Office rents in the Central Region stayed largely flat, dipping just 0.1% quarter-on-quarter, while CBD Grade A rents held steady at S$9.80 psf per month and occupancy eased slightly to 94.8%. Retail occupancy improved to 93.1% as international arrivals reached 4.5 million, with Orchard and Scotts Road rents inching up 0.5% to S$41.80 psf due to limited new supply and strong tourism. Industrial rents remained stable at S$2.09 psf, occupancy rose to 89.1%, and


Monthly Developer Sales — Sep 2025
September 2025 New Home Sales Slide Amid Launch Pause In September 2025, Singapore’s new private home market slowed sharply, with only 255 units sold (excluding Executive Condominiums) — an 88% drop from August and 36% lower year-on-year, mainly due to the lack of major new launches. Most sales were in the city fringe (RCR), followed by the suburbs (OCR) and the Core Central Region (CCR). Executive Condominiums remained in demand, with several units above S$1,800 psf and some


HDB Resale & BTO — Q3 2025
Singapore HDB Resale Market Moderates in Q3 2025 In Q3 2025, HDB resale prices rose 0.4%, the smallest gain in nearly five years and the fourth straight quarter of slower growth. Transactions increased 1.7% to 7,221 units, though sales were down 11.3% year-on-year, indicating shifting buyer interest. High-value flats stood out, with 1,506 units sold for S$800,000 or more, and a record 480 units sold above S$1 million. Rentals edged up 0.6% to 10,123 approvals quarter-on-quart


Private Residential Sales — Q3 2025
Singapore Private Residential Market Holds Steady in Q3 2025 Artist's impression of Zyon Grand In Q3 2025, private home prices rose 0.9%, while rents increased 1.2% overall. In the Core Central Region (CCR), non-landed prices climbed 1.7%, showing continued strength in prime locations. Developers launched 4,191 new units and sold 3,288, marking a strong rebound in market activity. Realion (OrangeTee & ETC) Research sees steady prices, active launches, and CCR demand as signs


Luxury Market — Q3 2025
Singapore Luxury Property Market Gains Momentum in Q3 2025 Artist's impression of Robertson Opus In Q3 2025, Singapore’s luxury property market saw 171 transactions above S$5 million, a 21% rise from the previous quarter. Total sales value reached S$1.725 billion, fuelled by strong domestic demand, with Singaporeans making up 76% of buyers. The Core Central Region (CCR) led performance, highlighted by ultra-luxury deals such as a S$19.2 million sale at The Marq on Paterson Hi
For more insights on the residential sector, visit OrangeTee Research Hub.
For more insights on the commercial sector, explore ETC Insights.
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