By contrast, February had seen nearly 1,700 new units launched, including high-profile developments like Parktown Residence.

Singapore's new private home sales plunged in March, falling 54.4% MoM to 729 units (excluding executive condominiums), as the market faced a lull in major launches and growing caution amid global uncertainty.

"The slower new home sales in March were mainly a result of the lack of mega projects being launched during the month," said Wong Siew Ying, Head of Research & Content at PropNex Realty.

By contrast, February had seen nearly 1,700 new units launched, including high-profile developments like Parktown Residence.

Despite the overall dip, demand for affordably priced homes in the Outside Central Region (OCR) remained solid.

Lentor Central Residences led sales, moving 460 units, or 96.4% of its total, making it the best-performing private project in 2025 to date.

Lee Sze Teck of Huttons noted, "More than 60% of the units sold in Lentor Central Residences are priced at $2 million and below, a sweet spot for many buyers be it first-timer or HDB upgraders." The OCR accounted for more than 80% of March's private home sales.

Executive condominiums (ECs) outperformed expectations, with 781 units sold—more than private new homes. Aurelle of Tampines (EC) sold 705 units in March alone, driven by strong demand from first-time buyers and HDB upgraders.

According to OrangeTee & Tie, "A record 162 new EC units were transacted for at least S$2 million," far surpassing the previous peak of 33 units. PropNex commented that ECs continue to appeal due to "a lower entry price than other new private condos," adding that demand is likely to remain strong among owner-occupiers.

Foreign buyer participation remained subdued. Only 10 units were sold to foreigners in March, with the majority located in the OCR. Singaporeans accounted for nearly 90% of all purchases. Market watchers attributed this to geopolitical risks and trade tensions.

CBRE and Knight Frank pointed to "rising trade tensions between the US and China" and broader macroeconomic uncertainty as dampening investor interest, especially in the luxury Core Central Region (CCR).

Looking ahead, analysts expect a rebound in sales as more projects come to market in Q2. PropNex highlighted several upcoming launches in prime areas like Orchard Boulevard, River Valley, and Marina View, which could help revive activity in the CCR.

Huttons noted that, despite March's slowdown, Q1 developer sales excluding ECs were the strongest since 2021—signaling that underlying demand remains healthy and buyers are waiting for the right opportunities.