Private home prices slow to 0.6% growth in Q4 2025

Landed homes post strong gains as non-landed prices decline.

Singapore’s private residential property prices increased by 0.6% in Q4 2025, from a 0.9% increase in Q3, according to data released by the Urban Redevelopment Authority (URA).

For the full year, private home prices rose 3.3%, down from a 3.9% increase in 2024.

Prices of landed properties rose 3.4% in Q4 2025, whilst non-landed homes saw a 0.2% decline in prices during the quarter.

For the year, landed property prices rose 7.6%, whilst non-landed homes increased by 2.3%.

Regional performance amongst non-landed properties varied. Prices in the Core Central Region (CCR) declined 3.5% in Q4, reversing the 1.7% gain in Q3. The Rest of Central Region (RCR) saw a 0.7% increase, whilst the Outside Central Region (OCR) rose 1%. Annual price changes in 2025 were 1.9% for CCR, 1.6% for RCR, and 3.2% for OCR.

Meanwhile, overall private home rents fell 0.5% in Q4. Landed property rents dropped 3%, whilst non-landed rents declined 0.1%. On a yearly basis, private home rents rose 1.9%, reversing a 1.9% fall in 2024. Rentals of non-landed and landed homes increased 2.3% and 0.4%, respectively, for the full year.

The vacancy rate for completed private residential units, excluding executive condominiums, fell to 6% at the end of Q4 from 6.9% in the previous quarter.

In the commercial sector, office space prices continued to soften, declining 0.7% in Q4, compared with a 0.2% drop in the previous quarter.

Office rents edged up 0.4% in the quarter, following a 0.1% decline in Q3.

For the year, office prices fell 2.1%, reversing a 1.8% gain in 2024, whilst rentals rose 0.3%, after remaining flat in 2024.

Retail space recorded a turnaround, with prices increasing 1.7% in Q4 after a 0.7% decline in the previous quarter.

Retail rents rose 0.6% in Q4, slightly below the 0.9% increase in Q3.

For the full year, retail space prices grew 3%, whilst rents increased 1.9%, up from 1% and 0.5%, respectively, in 2024.