Quieter Resale landed activity in January

Based on URA Realis caveat data, about 122 landed homes were transacted on the resale market in January 2025; the combined transaction value came up to $681 million - compared to December (148 deals valued at $847 million). Upon an analysis of each transaction and their respective gains, most landed deals were profitable. With the exception of the top gainer, the remaining top 10 landed home transactions in January booked gains ranging from about $5.35 million to $7.85 million. The top gainers were located around the island; five out of the top 10 landed transactions are located in the Core Central Region, three transactions in the Outside Central Region (OCR) and another two in the Rest of Central Region (RCR) during the month.

Landed home resale activity in January slowed further owing to the seasonal lull where many buyers and vendors. Despite the slower landed resale activity in January, there was a higher proportion of higher priced landed homes being sold compared with the previous month. Based on URA Realis caveat data, about 42.6% of resale landed homes sold in January were priced at $5 million and above, compared with about 40.5% in December. Meanwhile, 57.4% of the resale landed transactions were priced at below $5 million in January- edging up against the 59.5% proportion in the previous month.

Chart 1: Price range of private resale landed transactions in December 2024 vs January 2025

Top 10 resale landed transactions in terms of estimated gains*

Top landed transaction with highest gains (overall)

The top landed transaction in the month was for a bungalow in the CCR, along Jalan Bahasa in District 11. The bungalow is situated just a short walk to the Botanic Gardens MRT station on the circle line. The bungalow was sold for $13.68 million in January and achieved a gross profit of $12.25 million from the last caveated price lodged in September 1997 - booking an annualised gain of 8.6% over 27 years. This freehold bungalow sits on a plot with a land area of over 4,300 sq ft; reflecting a unit price of $3,176 psf on land area.

Top landed transaction with highest gains (Core Central Region)

The second top performing transaction in the city was for a semi-detached home in River Valley (District 10) along Jalan Kelawar. It was sold for $10.88 million in January, with its last caveat being lodged in January 2000. The sale price is up by nearly 7.85 million from the previous caveated price, marking an eye-watering annualised profit of 5.2% over 25 years. Based on a land area of over 3,600 sq ft, the sale price reflects a unit price of $2,990 psf on land area. The property is just a short walk to the Orchard Boulevard MRT Station on the Thomson East Coast line and just minutes' walk to the Orchard Shopping Belt.

The third-best performing transaction in the city was for the sale of a semi-detached house in Queen's Road in Bukit Timah (District 10). It was sold for $9.3 million in January, with its last caveat being lodged in May 2005. The sale price is up by $7.63 million from the previous caveated price, representing an annualised gain of 9.2% per year over nearly 20 years. The freehold property is situated just minute's walk away to Farrer Road MRT station and is about a 15-minute drive to the city.

Top landed transaction with highest gains (Rest of Central Region)

The best performing landed home transaction in the RCR was for a corner detached house along Jalan Sedap in Marine Parade (District 15). The property was sold for $13.88 million, reflecting an estimated gain of nearly $7.5 million, representing an annualised gain of 5.6% per year from its last caveat lodged in October 2010 - with a holding period of over 14 years. The property is about a 5-minutes' walk to Tanjong Katong MRT station on the Thomson-East Coast line.

The second top performing landed home transaction in the RCR was for a bungalow along Stirling Road in District 3 (Queenstown) was sold for $12.3 million, up by about $5.35 million from the last caveat lodged in January 2022 - this reflects an annualised profit of 21.6% after a holding period of about 3 years. The detached home is situated within the Shepherd's Hill landed estate. It is about a 10-minute walk to the Redhill MRT station on the East-West Line which takes commuters to the city centre in less than 30 minutes.

Top landed transaction with highest gains (Outside Central Region)

The top performing landed home transaction in the OCR was for a Sunset Way terrace in District 21 (Clementi) was sold for $9.7 million, up by over $7.5 million from the last caveat lodged in January 2007 - this reflects an annualised profit of 8.6% after a holding period of 18 years. The terrace house is situated within the quiet Sunset Way landed estate.

The second best-performing landed home transaction in the OCR was for a corner detached house along Tanah Merah Kechil Road South in the Bedok planning area (District 16). The freehold property was sold for about $10 million, reflecting an estimated gain of some $6.9 million, representing an annualised gain of 7% per year from its last caveat lodged in September 2007, with a holding period of 17 years. The bungalow is located just a 5-minute walk to the Tanah Merah MRT station on the East-West line and also a 15-minute walk to the upcoming Bedok South MRT station on the Thomson-East Coast Line (TEL), which will open under the fifth phase of the TEL opening.

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