Growing Resale landed activity in March despite softer prices

Landed home resale activity in March picked up after a slower start in February due to the seasonal lull where many buyers and vendors were away during the festive period. Based on URA Realis caveat data, about 158 landed homes were transacted on the resale market in March 2025; the combined transaction value came up to $944 million - compared to February (148 deals valued at $828 million). 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 46.2% of resale landed homes sold in March were priced at $5 million and above, compared with about 45.9% in February. Meanwhile, 53.8% of the resale landed transactions were priced at below $5 million in March- edging up against the 54.1% proportion in the previous month.

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

Landed home resale prices in March 2025 declined across all regions, slumping by 4.9% month-on-month (MOM) to $1,827 psf; though prices were up by 4.1% compared to a year before. The month-on-month decline in resale landed prices was led by the moderation in prices of city centre landed homes (CCR) which shrunk by 11.2% MOM. By property type, semi-detached and terrace homes saw average prices dip by 6.9% MOM and 6.7% MOM respectively in March. (see table 1 below).

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

Resale landed homes performance by property type in March 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 (GCB) along Leedon Park in District 10 (Bukit Timah) that was sold for $45.8 million, up by about $33 million from the last caveat lodged in October 2012 - this reflects an annualised profit of 2.7% after a holding period of about 12 years. The two-storey freehold GCB property is situated within the Leedon Park GCB estate, has a land area of over 15,600 sq ft which reflects a unit price of $2,929 psf on land area. According to media reports, the GCB was purchased by a shipping entrepreneur.

Top landed transaction with highest gains (Semi-Detached)

The best-performing semi-detached transaction was for the sale of a corner semi-detached property in Jalan Jelita in Bukit Timah (District 10). It was sold for $12 million in March, with its last caveat being lodged in May 2019. The sale price is up by nearly $7 million from the previous caveated price, representing an annualised gain of 16.4% per year over 6 years. The 999-year leasehold property is situated just behind Jelita Mall and just a short walk to the popular Henry Park Primary School. Commuters are also a short bus ride away from Holland Village MRT station on the Circle line and the Holland Village lifestyle enclave.

Top landed transaction with highest gains (Terrace House)

The best-performing terrace home transaction was for a terrace house along Grove Avenue in the Bukit Timah (District 10). The freehold property was sold for about $7.88 million, reflecting an estimated gain of some $4.88 million, representing an annualised gain of 7.1% per year from its last caveat lodged in February 2011, with a holding period of over 14 years. The property is located just a 5-minute walk to the Ghim Moh Market and Hawker Centre and Ulu Pandan Community Centre. The terrace property is also a short walk to the Henry Park Primary School.

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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