What is the outlook for condo property prices over the next 5 years

The outlook for condo property prices in Singapore over the next 5 years is influenced by several factors, including market resilience, economic conditions, and new launches.

As of the first quarter of 2025, Singapore's private residential property prices have shown a moderate increase, with a 0.8% rise, which is a slight easing from the 2.3% increase in the fourth quarter of 2024. This indicates a stable but cautious market environment.

Executive condos, in particular, are setting new price benchmarks, with average prices reaching around $1,656 per square foot, as seen in launches like Novo Place. This trend suggests that there is still demand for higher-priced properties, which could influence overall condo prices.

For new launches, the market is expected to see continued activity, with forecasts suggesting that developers will sell between 8,000 to 9,000 new units in 2025. This level of sales activity can impact pricing, especially if demand remains strong.

However, it's important to note that property market forecasts can be subject to revisions based on changing market conditions. The actual sales volume and price movements may vary depending on factors such as economic growth, government policies, and global economic trends.

Overall, while there is a positive outlook with stable price growth, the condo market in Singapore is likely to remain dynamic and responsive to various economic and regulatory factors over the next 5 years.