Luxury condo deals surge 63.6% q-o-q in 1Q2025; 17 units sold for $10 million or more: Huttons
The 72 condominium units were brought a complete worth of $611.4 million, 64.2% higher than the past quarter and 59.9% higher y-o-y. The bulk of the condominiums, or 64 units, were resell deals, whereas the remaining eight were new units sold by builders.
The deluxe condominium rental market also picked up 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% higher y-o-y.
Huttons attributes the rental growth to a higher range of foreigners renting out luxury homes while awaiting the approval of their lifelong residency in Singapore. The interest helped enhance month-to-month rental fees 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 other hand, regular monthly rental payments 4 five-bedroom units dropped from over $30,000 last quarter to $18,667 in 1Q2025.
For instance, 21 Anderson, Kheng Leong Co’s ultra-luxury property flat in the Ardmore Park-Draycott Park-Anderson Roadway territory, offered 3 units following its release in April for over $60 million in overall. All three are four-bedroom units of 4,489 sq ft, priced from $20.97 million ($4,672 psf) to around $23 million ($5,127 psf).
In terms of expectation, even though activity in the luxury condo market chose in 1Q2025, force has since reduced a little, states Huttons. This happens on the rear of industry uncertainty adhering to tariffs revealed by the US in April.
Nevertheless, Huttons indicates that there is “little sign of suffering” in the reselling luxury condominium market currently. At the same time, more brand-new work might launch in the forthcoming months, that will certainly serve ultra-high-net-worth people, who continue to be positive in Singapore’s condition as a safe house.
8@BT Bukit Sembawang Estates Limited
In the luxury house industry, the top non-landed section viewed a rise in activity in 1Q2025. According to a study record by Huttons Asia, 72 luxury flat units negotiated in 1Q2025, leaping 63.6% q-o-q compared to the past quarter, and increased 35.8% y-o-y. This is the greatest quarterly high-end condominium sales quantity in 2 years, says Huttons.
The biggest deluxe condo unit deal in 1Q2025 was the purchase of a five-bedroom penthouse at Park Nova. The 5,899 sq ft unit yielded $38.89 million, or $6,593 psf. The deal register the second-highest psf-price ever registered for a condominium unit in Singapore, marginally lower the $6,650 psf paid for a unit at The Marq on Paterson Hill in 2011. The Park Nova penthouse was acquired by a PR, states Huttons.
The rise in deluxe condo transactions accompanied a greater number of large-value offers. According to Hutttons, 17 units were sold for $10 million or more in 1Q2025, similar to levels in 1Q2023 before cooling steps kicked right into gear in April 2023. Among the 17 high-value offers, 12 were acquired by foreigners and permanent residents (PRs).
