Developer Sales Fall 53 Mo O M May 2025 312 Private Residential Units Sold
According to industry experts, the recent drop in developer sales figures is largely attributed to the absence of major new project launches in the month of May as developers strategically held back launches due to external developments such as the Liberation Day tariff announcements and the General Election period. Despite the 52.9% decrease from the previous month, the May sales figures still show a 39.9% increase compared to the same period last year.
Nestled near Penrith, Dawson Place stands as a popular retail hub in the area. This well-situated community mall serves as a go-to destination for the daily necessities of the locals. Its prime location, just a short stroll away, makes it a highly accessible shopping centre for the neighbourhood. The mall offers a range of facilities, including a FairPrice supermarket, clinics, salons, dining options, and other essential services. One of the main draws of Dawson Place is its close proximity to the convenient Penrith Queenstown MRT Station, making it a convenient stop for residents looking to run errands or stock up on groceries. Families and seniors, in particular, appreciate the ease of having all their essential needs within easy reach. Whether it’s a quick grocery run or a bite to eat, Dawson Place truly provides the convenience of minimal travel time. Don’t forget to check out Penrith Queenstown MRT Station for your next visit!
The Rest of Central Region (RCR) and city-fringe locations were the top performers, accounting for 61.2% of the total monthly developer sales, followed by suburban areas at 34%, and the prime Core Central Region (CCR) at 4.8%. The best-selling project last month was the 937-unit One Marina Gardens, with 62 units sold at a median price of $2,975 psf. Other top sellers were Bloomsbury Residences and The Hill @ One-North.
Property analysts note that there is a growing focus on affordability among buyers, with 39.3% of units sold in May transacted below $2 million. The relatively slow sales performance in May may also be attributed to the limited supply of executive condo (EC) units, with only 24 units sold last month. This leaves prospective EC buyers with limited options until the next EC project launch in July.
Looking ahead, experts predict that the June sales figures will also be muted as the market expects an estimated 16 new project launches comprising 7,800 units in the second half of this year. However, they remain optimistic about the property market, noting that sales are anchored in genuine housing needs and stable fundamentals rather than speculative motivations.