Simmering Resale Land Prices with Tepid Resale Activity in August

Landed home resale activity in August declined markedly following a resurgence in July due to the seasonal lull from the Hungry Ghost Month. Based on URA Realis caveat data, about 149 landed homes were transacted on the resale market in August 2025; the combined transaction value came up to $894 million - compared to July (179 deals valued at $1 billion). Upon an analysis of each transaction and their respective gains, most landed deals were profitable.

There was a slightly lower proportion of higher priced landed homes being sold compared with the previous month amidst a recovery in sales transactions. Based on URA Realis caveat data, about 44.3% of resale landed homes sold in August were priced at $5 million and above, compared with about 44.7% in July. Meanwhile, 55.7% of the resale landed transactions were priced at below $5 million in August - edging up against the 55.3% proportion in the previous month.

Chart 1: Price range of private resale landed transactions in July 2025 vs August 2025

Source: PropNex Research, URA Realis

Landed home resale prices in August 2025 softened across all regions. The overall landed homes resale prices dipped by 2.2% month-on-month (MOM) to $1,901 psf; while prices were still up by 9.9% compared to a year before. The month-on-month decrease in resale landed prices was led by the weakening of prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) which fell by 6.8% and 10.1% MOM, respectively. Homes in the core central region homes (CCR), bucked the trend, strengthening by 22.2% MOM. By property type, detached and semi-detached homes saw average prices climb by 31% MOM and 7.8% MOM respectively in August. (see table 1 below).

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

Resale landed homes performance by property type in August 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 Good-class Bungalow along Chee Hoon Avenue in District 11 (Novena) that was sold for $28.3 million, up by about $29.5 million from the last caveat lodged in September 2021 - this reflects an annualised profit of 21.7% after a holding period of over 4 years. The GCB property is situated within the Capitol Park GCB area, has a land area of nearly 14,000 sq ft which reflects a unit price of $3,955 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 Duchess Road in Bukit Timah (District 10). It was sold for nearly $11.4 million in August, with its last caveat being lodged in April 2002. The sale price is up by $4.9 million from the previous caveated price, representing an annualised gain of 8.4% per year over nearly 20 years. The freehold property is just a short walk to the Tan Kah Kee MRT station. The property is within close proximity to a number of reputable schools in Bukit Timah, including Hwa Chong Institution, Raffles Girls Primary School and Nanyang Girls' High School.

Top landed transaction with highest gains (Terrace House)

The best-performing terrace home transaction was for a terrace house along Huddington Avenue in Serangoon Gardens neighbourhood (District 19).The freehold property was sold for $7.45 million, reflecting an estimated gain of $4.9 million, representing an annualised gain of 8.4% per year from its last caveat lodged in April 2012, with a holding period of over 23 years. The 999-year leasehold property is situated within a largely landed estate in Serangoon Gardens, and about a 10-minute walk to the Serangoon Gardens commercial node comprising of commercial amenities namely the Serangoon Garden Market, Chomp Chomp Food Centre, MyVillage at Serangoon Gardens, as well as several retail and dining options situated within the shophouses along Serangoon Gardens Way.

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

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