Luxury condo deals surge 63.6% q-o-q in 1Q2025; 17 units sold for $10 million or more: Huttons
The surge in luxury condominium transactions coincided with a greater variety of large-value bargains. According to Hutttons, 17 units were sold for $10 million or more in 1Q2025, comparable to levels in 1Q2023 prior to moderating measures kicked into gear in April 2023. Amongst the 17 high-value offers, 12 were acquired by immigrants and permanent residents (PRs).
In regards to outlook, even though activity in the luxury condo market picked in 1Q2025, force has actually since reduced somewhat, claims Huttons. This happens on the back of industry uncertainty following tariffs declared by the United States in April.
The 72 condominium units were brought a full value of $611.4 million, 64.2% greater than the past quarter and 59.9% higher y-o-y. The bulk of the condos, or 64 units, were reselling prices, whereas the remaining eight were new units marketed by developers.
In the luxury house industry, the top non-landed sector saw an upsurge in event in 1Q2025. According to a research study record by Huttons Asia, 72 luxury flat units transacted in 1Q2025, leaping 63.6% q-o-q contrasted to the past quarter, and higher 35.8% y-o-y. This is the greatest quarterly deluxe condominium sales quantity in 2 years, states Huttons.
The luxury apartment rental market also got in 1Q2025, with general month to month leas based on Huttons’ basket of luxury non-landed homes expanding 6.6% q-o-q to $14,672. This is 1.7% greater y-o-y.
The largest luxury condo unit agreement in 1Q2025 was the revenue of a five-bedroom penthouse at Park Nova. The 5,899 sq ft unit fetched $38.89 million, or $6,593 psf. The transaction logged the second-highest psf-price ever registered for a condominium unit in Singapore, marginally below the $6,650 psf paid for a unit at The Marq on Paterson Hill in 2011. The Park Nova penthouse was bought by a PR, states Huttons.
Still, Huttons indicates that there is “little indication of trouble” in the reselling high-end apartment industry currently. Simultaneously, more brand-new plans may launch in the coming months, which will cater to ultra-high-net-worth people, who continue to be certain in Singapore’s standing as a safe haven.
For example, 21 Anderson, Kheng Leong Co’s ultra-luxury property condominium in the Ardmore Park-Draycott Park-Anderson Road territory, marketed 3 units following its debut 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 over $23 million ($5,127 psf).
Huttons associates the rental development to a better number of foreigners renting upscale homes while awaiting the authorization of their lifelong residency in Singapore. The demand helped improve month-to-month leas for three- 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, regular monthly rental payments 4 five-bedroom units dropped from over $30,000 last quarter to $18,667 in 1Q2025.
