Why there is demand for Singapore luxury homes

Luxury properties in Singapore are experiencing a resurgence in 2025, contrasting sharply with the declining demand observed in many other global cities.

- Christine Sun

Condominiums in the prime areas that were transacted for at least $5 million surged by more than 25 per cent in the first three quarters of 2025, while sales of ultra-luxury condominiums that exceed $10 million hit a three-year high. Good class bungalows (GCBs) also saw an increased interest.

This is fascinating, considering the cooling measures and tariff uncertainties. After all, foreign buyers of luxury homes must pay a 60 per cent additional buyer's stamp duty.

DEMAND SURGED ACROSS ALL SALE TYPES

In the first three quarters of 2025, 265 luxury condominiums were sold for at least $5 million in the prime core central region (CCR), based on Urban Redevelopment Authority data. This exceeded the 207 transactions registered over the same months a year ago and surpassed the past 15-year average of 257 units.

Demand for these luxury condominiums surged across all sale types. Resale luxury condominiums experienced the most significant increase, rising from 151 transactions in the first three quarters of 2024 to 194 in the corresponding period in 2025.

Luxury condominium demand in the resale market was widespread across more than 90 developments. Regency Park, Cape Royale, Boulevard 88, Leedon Residence, The Draycott, Sky@eleven, St Regis Residences Singapore, Goodwood Residence, The Glyndebourne, Grange Residences and Hilltops were among the popular projects, registering the highest transactions from January to September 2025.

New sales climbed from 55 units to 66 units in the same period, but were focused on 12 projects, namely UpperHouse at Orchard Boulevard, Watten House, 21 Anderson, The Robertson Opus, 32 Gilstead, Aurea, Park Nova, The Avenir, Irwell Hill Residences, One Bernam, Skywaters Residences and 19 Nassim.

MORE NEW ULTRA-LUXURY HOMES SOLD