Strengthening Resale Landed Prices despite Muted Resale Activity in April

Landed home resale activity in April stalled after a brief rebound in March due to the market uncertainties brought about by the US tariffs and global economic volatilities. A handful of buyers and vendors held off on their sales activities and adopted a wait-and-see approach before making decisions. Based on URA Realis caveat data, about 138 landed homes were transacted on the resale market in April 2025; the combined transaction value came up to $833.7 million - compared to March (172 deals valued at $1 billion). Upon an analysis of each transaction and their respective gains, most landed deals were profitable.

There was a bigger proportion of higher priced landed homes being sold compared with the previous month amidst a pickup in activity. Based on URA Realis caveat data, about 46.4% of resale landed homes sold in April were priced at $5 million and above, compared with about 44.2% in March. Meanwhile, 53.6% of the resale landed transactions were priced at below $5 million in April- edging up against the 55.8% proportion in the previous month.

Chart 1: Price range of private resale landed transactions in March 2025 vs April 2025

Landed home resale prices in April 2025 expanded across all regions, rising by 6.3% month-on-month (MOM) to $1,914 psf; while prices were up by 8.1% compared to a year before. The month-on-month expansion in resale landed prices was led by the expansion in prices of city centre landed homes (CCR) and suburban homes which grew by 11.2% MOM and 8.5% MOM respectively. By property type, semi-detached and terrace homes saw average prices grow by 8.6% MOM and 7.6% MOM respectively in April. (see table 1 below).

Table 1: Average Unit Prices ($PSF) of Resale Landed Homes by month

Resale landed homes performance by property type in April 2025

Table 2: Top 3 resale landed transactions by landed property type, in terms of estimated gains*

Top landed transaction with highest gains (Detached)

The top performing detached home transaction and overall landed transaction for the month was for a bungalow along Branksome Road in District 15 (Marine Parade) that was sold for $17.5 million, up by about $14 million from the last caveat lodged in March 2006 - this reflects an annualised profit of 6.9% after a holding period of more than 19 years. The two-storey freehold property is situated within close proximity to the Chung Cheng High School, has a land area of over 6,600 sq ft which reflects a unit price of $2,647 psf on land area.

Top landed transaction with highest gains (Semi-Detached)

The best-performing semi-detached transaction was for the sale of a semi-detached property in Jalan Unggas in Novena (District 11). It was sold for $9.5 million in April, with its last caveat being lodged in June 1997. The sale price is up by nearly $6.25 million from the previous caveated price, representing an annualised gain of 3.9% per year close to 28 years. The freehold property is situated within Capitol Park landed estate and just a short walk to Unesco World Hertiage site, the Singapore Botanic Gardens. Commuters are also a short walk to the Adams Road Food Centre and the Botanic Gardens MRT interchange on the Circle line and the Downtown Line.

Top landed transaction with highest gains (Terrace House)

The best-performing terrace home transaction was for a terrace house along Braemar Drive in Serangoon Gardens (District 19). The 999-year leasehold property was sold for about $5.2 million, reflecting an estimated gain of some $4.39 million, representing an annualised gain of 7.4% per year from its last caveat lodged in February 1999, with a holding period of over 25 years. The property is located just a 10 to 15-minute walk to the Serangoon Gardens lifestyle node comprising of amenities such as the Chomp Chomp Food Centre, Serangoon Garden Market and Hawker Centre and Serangoon Gardens Community Centre.

If you are looking for high-end homes or good class bungalows in Singapore, contact PropNex's GCB and Prestige Landed department for buying opportunities and insights on the landed residential property market.

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