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Quarterly report


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


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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