Singapore property prices continued to rise in 2025, primarily driven by the HDB resale market and the investment market:
HDB Resale Market
In September 2025, the Singapore HDB resale market price index reached 209.7 points, a 0.6% increase month-on-month and a 4.8% increase year-on-year, setting a new record. High-priced transactions surged that month, with 172 HDB flats sold for over one million Singapore dollars, breaking previous records.
Investment Market
Property investment sales in the third quarter of 2025 reached S$10.3 billion to S$11.09 billion, a 35.6% increase quarter-on-quarter, the highest quarterly record in over three years. Land sales were the main driver, with government land sales totaling nearly S$4.15 billion in the third quarter, a 242% surge quarter-on-quarter.
Future Trends
DBS Bank predicts that Singapore private residential property prices will grow at a compound annual growth rate of 2%-3%, with the average price per square foot potentially reaching S$3,500-4,050 in 15 years. However, the current requirement for non-residents to pay an additional stamp duty of up to 60% on home purchases may dampen some investment demand.