This data story ranks Singapore districts by the unlevered resale return of condos — the compound annual growth rate between a unit's purchase and its resale, before any mortgage leverage — using matched URA caveat pairs as of September 2025. Only districts with at least 10 matched pairs are shown. District 25 led the table this edition, with a 7.5% median annualised return.
Condo returns by district — September 2025
Ranked by median annualised (unlevered) return. The profitable-resale share and median holding period give context: a high return on a short hold is more volatile than the same return earned patiently over many years.
| # | District | Median return/yr | Profitable | Median hold | Resales |
|---|---|---|---|---|---|
| 1 | District 25 OCR | 7.5% | 89% | 1.0 yrs | 277 |
| 2 | District 18 OCR | 7.4% | 88% | 1.1 yrs | 1,051 |
| 3 | District 19 OCR | 7.2% | 89% | 1.1 yrs | 1,951 |
| 4 | District 22 OCR | 6.7% | 86% | 1.1 yrs | 439 |
| 5 | District 20 RCR | 6.7% | 87% | 1.2 yrs | 480 |
| 6 | District 16 OCR | 6.6% | 86% | 1.1 yrs | 694 |
| 7 | District 28 OCR | 6.6% | 91% | 1.1 yrs | 418 |
| 8 | District 27 OCR | 6.5% | 88% | 1.0 yrs | 638 |
| 9 | District 23 OCR | 6.4% | 87% | 1.1 yrs | 952 |
| 10 | District 26 OCR | 6.2% | 92% | 0.9 yrs | 126 |
| 11 | District 17 OCR | 6.0% | 83% | 1.2 yrs | 318 |
| 12 | District 13 RCR | 5.8% | 87% | 1.1 yrs | 382 |
| 13 | District 15 RCR | 5.4% | 86% | 1.3 yrs | 1,178 |
| 14 | District 21 OCR | 5.4% | 85% | 1.3 yrs | 532 |
| 15 | District 14 RCR | 5.0% | 88% | 1.2 yrs | 692 |
| 16 | District 12 RCR | 4.8% | 91% | 1.3 yrs | 419 |
| 17 | District 5 RCR | 4.7% | 83% | 1.3 yrs | 788 |
| 18 | District 8 RCR | 4.3% | 84% | 1.4 yrs | 194 |
| 19 | District 3 RCR | 4.3% | 83% | 1.2 yrs | 690 |
| 20 | District 11 CCR | 4.1% | 83% | 1.5 yrs | 368 |
| 21 | District 6 CCR | 4.0% | 78% | 1.5 yrs | 23 |
| 22 | District 10 CCR | 3.6% | 75% | 1.2 yrs | 891 |
| 23 | District 4 RCR | 2.9% | 71% | 1.3 yrs | 283 |
| 24 | District 7 CCR | 2.6% | 78% | 1.3 yrs | 126 |
| 25 | District 9 CCR | 2.2% | 68% | 1.4 yrs | 625 |
| 26 | District 2 CCR | 1.8% | 65% | 1.3 yrs | 184 |
| 27 | District 1 CCR | 1.4% | 61% | 1.4 yrs | 179 |
Volume-weighted median return by market segment across the listed districts: CCR 2.9% · RCR 5.0% · OCR 6.8%. Mass-market OCR districts have historically posted stronger percentage appreciation than the prime CCR, where higher entry prices compress percentage gains.
Frequently Asked Questions
What is an "unlevered" district return?
It is the price appreciation of a condo unit expressed as a compound annual growth rate, ignoring any mortgage. Because most buyers borrow, their equity return is higher (or lower) than this figure — but the unlevered number lets you compare districts on the underlying property move rather than on how much debt each buyer happened to use.
Which district had the best condo returns as of September 2025?
District 25 led the table this edition with a median annualised return of 7.5%. The full ranking, with profitable-resale share and median holding period, is in the leaderboard above.
Why do some districts not appear?
A district needs at least 10 matched buy→sell caveat pairs to be listed. Thinly-traded districts are excluded so a couple of unusual sales cannot distort the ranking.
Methodology & Sources
This analysis covers as of September 2025 and refreshes every month.
Transaction data sourced from URA.
- The unlevered return is the median compound annual growth rate (CAGR) of matched buy→sell caveat pairs in a district — it excludes mortgage financing, so districts are compared on the underlying price move rather than on leverage.
- Matched pairs are inferred from URA resale caveats via a (floor band, area, bedroom) proxy; a district needs at least 10 pairs to be listed.
- Each edition is locked to resales closing on or before September 2025, so it does not mutate as later caveats arrive. Figures are raw-price estimates before stamp duty and costs.
Median values used to minimise outlier impact. PSF = price per square foot.