Home Prices Grew Modestly as Demand Held Steady in Q1 2025
Home Prices Grew Modestly as Demand Held Steady in Q1 2025
According to data from the Urban Redevelopment Authority (URA), the property price index rose by 0.8% in Q1 2025, down from 2.3% in the previous quarter. Property price index rose by 0.8% in Q1 2025.
2025年第一季度物業價格指數上漲了0.8%。
Demand for new private homes remained strong in the first quarter of 2025 (Q1 2025), with new prime residential sales reaching a one-year high, according to OrangeTee.
根據OrangeTee的報告，2025年第一季度，私人新住宅的需求依然強勁，新一線住宅銷售達到一年高點。
Despite this, overall private home prices posted slower growth.
儘管如此，整體私人住宅價格增長放緩。
According to data from the Urban Redevelopment Authority (URA), the property price index rose by 0.8% in Q1 2025, down from 2.3% in the previous quarter.
根據城市重建局（URA）的數據顯示，2025年第一季度物業價格指數上漲了0.8%，低於上一季度的2.3%。
This was mainly due to smaller price gains for non-landed homes, which increased by 1%, compared to 3% in Q4 2024.
這主要是由於非獨立住宅的價格漲幅較小，漲幅爲1%，而2024年第四季度爲3%。
Landed property prices, however, rebounded by 0.4% after a slight 0.1% decline previously.
然而，獨立住宅價格在之前小幅下降0.1%後反彈了0.4%。
"The slower price growth may also be attributed to an increased market share of suburban homes, which are typically sold at lower prices compared to other properties in city fringe and prime areas," an OrangeTee report added.
OrangeTee報告補充道：「價格增長放緩可能也與郊區住宅市場份額增加有關，這些住宅通常以低於市區邊緣和優質地區的其他物業的價格出售。」
The share of sales in the Outside Central Region (OCR) climbed from 47.3% in Q4 2024 to 58.2% in Q1 2025, whilst the Rest of Central Region (RCR) fell from 42.1% to 29.3%.
外中心地區（OCR）的銷售份額從2024年第四季度的47.3%上升至2025年第一季度的58.2%，而中央地區其他（RCR）則從42.1%下降至29.3%。
Sales in the Core Central Region (CCR) rose slightly to 12.4%.
核心中央地區（CCR）的銷售略微上升至12.4%。
By segment, non-landed home prices in the OCR rose by 0.3%, a sharp slowdown from 3.3% in the previous quarter.
按區域劃分，非土地住宅的價格在其他地區（OCR）上漲了0.3%，相比於上個季度3.3%的漲幅大幅放緩。
CCR prices increased 0.8%, down from 2.6%, whilst RCR prices grew by 1.7%, easing from 3%.
CCR價格上漲0.8%，低於2.6%；而RCR價格增長1.7%，從3%降溫。
Total private home sales (excluding executive condominiums) fell by 2.3% to 7,261 units in Q1 2025 from 7,433 units in Q4 2024.
在2025年第一季度，總私人住宅銷售（不包括執行公寓）下降了2.3%，從2024年第四季度的7,433套降至7,261套。
Resale transactions dropped by 3.7% to 3,565 units, affected by heightened competition from new launches.
二手交易下降了3.7%，降至3,565套，受到新項目激烈競爭的影響。
New home sales slipped marginally by 1.3% to 3,375 units. This marked the second-highest quarterly performance in three years, supported by strong uptake at Parktown Residence (1,193 units), The Orie (777 units), and ELTA (501 units).
新住宅銷售微降1.3%，降至3,375套。這標誌着三年來的第二高季度表現，得益於在Parktown Residence（1,193套）、The Orie（777套）和ELTA（501套）處的強勁需求。
New home sales in the prime CCR market rose to 192 units in Q1 2025, up 40.1% quarter-on-quarter and 81.1% year-on-year, making it the strongest showing since Q4 2023.
2025年第一季度，優質CCR市場的新住宅銷售上升至192套，環比增長40.1%，同比增長81.1%，是自2023年第四季度以來的最佳表現。
One Bernam led with 102 units sold, followed by Aurea with 24 units. Other notable projects included The Collective at One Sophia, Hill House, and 19 Nassim.
One Bernam以102套銷售領先，其次是Aurea的24套。其他值得注意的項目還包括One Sophia的The Collective、Hill House和19 Nassim。
High-end transactions above $5m dipped slightly to 102 units from 107 in the previous quarter, but deals above $10m rose from 13 to 17 units.
價值超過500萬美元的高端交易從上一季度的107個單位略微下降至102個單位，但超過1000萬的交易從13個單位上升至17個單位。
Looking ahead, trade tensions and a prolonged high-interest rate environment may weigh on buyer sentiment.
展望未來，貿易緊張局勢和長期高利率環境可能會對買家信心產生影響。
Singapore's export-driven economy is exposed to risks from potential U.S. tariff actions, which could dampen GDP growth and prompt more caution amongst homebuyers.
新加坡的出口驅動型經濟面臨來自美國可能的關稅行動風險，這可能會抑制GDP增長，並促使購房者更加謹慎。
Nonetheless, stable employment, continued HDB resale strength, and growing income levels may help sustain demand, especially from local upgraders.
儘管如此，穩定的就業、持續的HDB二手房市場強勁和收入水平的提高可能有助於維持需求，特別是來自當地升級房購買者的需求。
"The pipeline supply of private residential units and EC completions will rise from 7,968 units in 2026 to 12,392 units in 2028," said Christine Sun, Chief Researcher and Strategist at OrangeTee.
橙天地產首席研究員兼戰略家克莉絲汀表示："私人工住宅單位和生態社區的供應量將從2026年的7968個單位增加到2028年的12392個單位。"
"The increasing housing supply may mitigate a substantial rise in home prices over the next few years," she added.
她補充道："不斷增加的住房供應可能在未來幾年內緩解房價的 substantial上升。"
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