Luxury condo deals surge 63.6% q-o-q in 1Q2025; 17 units sold for $10 million or more: Huttons
In the luxury house industry, the prime non-landed section viewed a rise in activity in 1Q2025. According to a research study record by Huttons Asia, 72 luxurious flat units worked out a deal in 1Q2025, leaping 63.6% q-o-q compared to the previous quarter, and higher 35.8% y-o-y. This is the greatest quarterly luxury apartment sales volume in two years, states Huttons.
In terms of overview, although activity in the luxury condo market chose in 1Q2025, traction has actually since eased a little, states Huttons. This happens on the back of industry uncertainty adhering to tariffs introduced by the US in April.
The greatest high-end condo transaction 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 purchase register 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 acquired by a PR, states Huttons.
The 72 apartment units were realized a total worth of $611.4 million, 64.2% more than the past quarter and 59.9% higher y-o-y. The bulk of the condominiums, or 64 units, were resell offers, while the standing eight were new units marketed by property developers.
For instance, 21 Anderson, Kheng Leong Co’s ultra-luxury property condo in the Ardmore Park-Draycott Park-Anderson Roadway territory, sold three units following its launch in April for over $60 million in total. All 3 are four-bedroom units of 4,489 sq ft, valued from $20.97 million ($4,672 psf) to around $23 million ($5,127 psf).
The surge in high-end condo purchases coincided with a higher number of large-value offers. According to Hutttons, 17 units were sold for $10 million or more in 1Q2025, similar to levels in 1Q2023 prior to cooling steps kicked into gear in April 2023. Amongst the 17 high-value deals, 12 were acquired by foreigners and permanent residents (PRs).
The luxury condominium rental market also got in 1Q2025, with general monthly leas based upon Huttons’ basket of deluxe non-landed homes expanding 6.6% q-o-q to $14,672. This is 1.7% higher y-o-y.
Huttons associates the rental growth to a better amount of immigrants leasing high-end homes while awaiting the authorization of their lifelong residency in Singapore. The necessity helped improve regular monthly rents for 3- and four-bedroom units, which increased 9.4% q-o-q to $12,255 and 7.1% q-o-q to $18,066, each. On the other hand, month-to-month rental payments 4 five-bedroom units dropped from over $30,000 last quarter to $18,667 in 1Q2025.
Still, Huttons indicates that there is “little indicator of suffering” in the resale expensive apartment market presently. At the same time, even more brand-new projects might release in the coming months, which will certainly cater to ultra-high-net-worth people, who stay certain in Singapore’s condition as a safe haven.
