SINGAPORE – New private home sales slipped to 729 units in March from the 1,597 units sold in February, owing to a lack of mega launches compared with a more active launch pipeline in the first two months of 2025.

Excluding executive condominiums (ECs), just 555 new units were launched in March, compared with the 1,694 units in February. As a result, month-on-month new private home sales fell 54.4 per cent in March, but were up 1.5 per cent year on year from the 718 units sold in March 2024. 

Including ECs, new home sales fared a little better. Overall sales dipped to 1,510 in March from the previous month’s 1,626, shored up primarily by a near sell-out at the launch of Aurelle of Tampines, the first new EC to be launched in 2025.

Collectively, the Aurea and Lentor Central Residences, the other two new launches in March, offered a total of 665 units, compared with nearly 1,700 units from two February launches – Parktown Residence and Elta.

The top-selling condo was Lentor Central Residences, which moved 460 of its 477 units, or 96 per cent, within its launch month, outperforming five earlier launches in the Lentor Hills area. Buyers were likely drawn to its proximity to the Lentor MRT station and nature parks, said OrangeTee Group’s chief researcher and strategist Christine Sun.

Analysts are mixed about the impact of the escalating trade war, with some expecting heightened economic uncertainty to weigh on the local property market in the coming months, while others see investors turning to the Republic as a safe haven for property investment.

“Following the strong upturn in buyer sentiment in the fourth quarter of 2024 and the first quarter of 2025, market uncertainties have heightened considerably in early April, as the US imposed sweeping tariffs on its trading partners,” said PropNex chief executive officer Ismail Gafoor.

As the property market is sentiment-driven, the tariffs may influence home-buying decisions, particularly among investors, he added.

“Since early April, (US President Donald) Trump’s new tariffs have roiled global markets and triggered volatility... As a result, some investors may opt to wait out any potential turbulence and delay their purchases. However, this is expected to be a knee-jerk reaction,” ERA Singapore CEO Marcus Chu said.

Should unemployment remain low and retrenchments are contained, there should be sustained domestic demand once clarity emerges on the glo...