Despite a seasonal slowdown in December, new home sales in Singapore for 2025 reached their highest level in years.

Data released by Singapore's Urban Redevelopment Authority on Thursday showed that 197 new private homes were sold in December, a month typically known as a quiet period for property transactions. Calculations indicate that this brings the total number of new private homes sold for the full year of 2025 to over 10,700 units.

This annual sales figure far surpasses the 6,469 units sold in 2024 and is set to be the highest since 2021, when a pandemic-driven buying frenzy pushed new home sales to 13,027 units.

For years, the Singapore government has been actively trying to cool the hot property market, including the introduction of one of the world's highest stamp duty rates for foreign buyers in 2023. The government further tightened measures in 2024, aiming to curb short-term "flip-and-sell" speculative activity in new homes.

However, these cooling measures have not yet significantly dampened buyer interest. Demand from local purchasers and high-net-worth immigrants, coupled with the support of low borrowing costs, has continued to fuel market activity. This persistent demand resilience could complicate the appeals from local property agents, who are calling for a relaxation of property curbs in Singapore's annual budget statement, due to be announced on February 12.

Preliminary estimates released earlier this month indicated that Singapore home prices rose by 3.4% in 2025. Although the pace of increase moderated slightly, the property market's upward trend has now continued for a ninth consecutive year. The final data for 2025 home prices and sales volumes will be officially released next Friday.