For digest readers, the four numbers that matter for District 23 in the trailing window are: (a) transacted volume relative to trailing-12-month averages, (b) median PSF for the comparable-quality sample, (c) gross rental yield (where applicable), and (d) the segment-mix composition that influenced the headline aggregate. Cross-reference the chart in this digest against URA REALIS for verified caveat-level detail, and against the URA Property Price Index for the quarterly cycle-level benchmark.
The new-launch transacted price trajectory reading for District 23 reflects the interplay between (1) the policy environment (IRAS ABSD rates for buyer-side cooling, IRAS BSD rates for the standard upfront stamp), (2) the financing cost environment (MAS SORA dashboard for the floating-rate benchmark plus typical 0.6–0.85% bank spread = ~4.0% all-in), and (3) the MAS TDSR / cooling measures explainer that caps debt-servicing at 55% of gross income. Each of these levers can shift period-to-period readings independently.
The the trailing window new-launch price trend digest for District 23 sits within a defined cycle context. New-launch pricing follows tranche-release strategy; absorption depends on developer pacing. This digest reads the period’s data alongside the structural framework set by Singapore’s post-April-2023 cooling-measure regime — foreigner ABSD at 60%, Singapore Citizen second-property ABSD at 20%, 3M SORA in the 3.0–3.5% band — that shapes how the raw figures translate into actionable buyer or seller decisions (as of 2026-Q1).
- District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) · OCR (Outside Central Region)
- Total new launch projects: 11
- Total units: 2,547
- Average median PSF: $1,886 psf
District Overview
District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) is in the Outside Central Region and currently has 11 new launch projects with a combined 2,547 units. The average median PSF across all projects is $1,886 psf.
Monthly PSF Trend
Average median PSF trend for new launch projects in District 23.
| Month | Avg Median PSF | Total Sold | Active Projects |
|---|---|---|---|
| Mar 2023 | $2,068 psf | 184 | 1 |
| Apr 2023 | $2,087 psf | 12 | 1 |
| May 2023 | $2,125 psf | 16 | 1 |
| Jun 2023 | $1,989 psf | 3 | 1 |
| Jul 2023 | $2,104 psf | 129 | 2 |
| Aug 2023 | $1,841 psf | 280 | 4 |
| Sep 2023 | $1,867 psf | 120 | 4 |
| Oct 2023 | $1,851 psf | 25 | 4 |
| Nov 2023 | $1,822 psf | 22 | 4 |
| Dec 2023 | $1,874 psf | 21 | 4 |
| Jan 2024 | $1,863 psf | 382 | 6 |
| Feb 2024 | $1,859 psf | 49 | 6 |
| Mar 2024 | $1,804 psf | 154 | 6 |
| Apr 2024 | $1,900 psf | 108 | 5 |
| May 2024 | $1,937 psf | 79 | 4 |
| Jun 2024 | $1,839 psf | 69 | 6 |
| Jul 2024 | $1,929 psf | 58 | 5 |
| Aug 2024 | $1,829 psf | 44 | 6 |
| Sep 2024 | $1,840 psf | 89 | 6 |
| Oct 2024 | $1,861 psf | 53 | 6 |
| Nov 2024 | $1,854 psf | 57 | 6 |
| Dec 2024 | $1,835 psf | 42 | 6 |
| Jan 2025 | $1,857 psf | 31 | 6 |
| Feb 2025 | $1,845 psf | 29 | 6 |
| Mar 2025 | $1,828 psf | 52 | 5 |
| Apr 2025 | $1,808 psf | 35 | 5 |
| May 2025 | $1,783 psf | 34 | 5 |
| Jun 2025 | $1,846 psf | 13 | 3 |
| Jul 2025 | $1,862 psf | 12 | 4 |
| Aug 2025 | $1,810 psf | 11 | 4 |
| Sep 2025 | $1,878 psf | 11 | 4 |
| Oct 2025 | $1,936 psf | 10 | 3 |
| Nov 2025 | $1,957 psf | 13 | 5 |
| Dec 2025 | $2,046 psf | 5 | 2 |
| Jan 2026 | $2,079 psf | 127 | 2 |
| Feb 2026 | $2,062 psf | 14 | 3 |
| Mar 2026 | $1,948 psf | 27 | 3 |
Active Projects Comparison
Comparison of all new launch projects in District 23.
| Project | Median PSF | Sold | Launched | Absorption |
|---|---|---|---|---|
| ALTURA | $1,481 psf | 359 | 360 | 99.7% |
| CASHEW GREEN | — | 17 | 19 | 89.5% |
| DAIRY FARM RESIDENCES | — | 460 | 460 | 100% |
| HILLHAVEN | $2,143 psf | 340 | 341 | 99.7% |
| LUMINA GRAND | $1,517 psf | 512 | 512 | 100% |
| MONT BOTANIK RESIDENCE | — | 108 | 108 | 100% |
| NARRA RESIDENCES | $2,161 psf | 144 | 540 | 26.7% |
| PHOENIX RESIDENCES | — | 70 | 74 | 94.6% |
| THE ARDEN | $1,788 psf | 105 | 105 | 100% |
| THE BOTANY AT DAIRY FARM | $2,038 psf | 386 | 386 | 100% |
| THE MYST | $2,072 psf | 373 | 380 | 98.2% |
Market Segment Context
District 23 falls within the Outside Central Region (OCR), which includes Districts 16, 17, 18, 19, 21, 22, 23, 24, 25, 26, 27, 28.
Compare with other OCR districts: D16, D17, D18, D19, D21.
See the full District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) for comprehensive market data.
The the trailing window period’s new-launch transacted price trajectory for District 23 reflects specific micro-level drivers. Within the aggregate figure, individual sub-segments (different unit types, floor bands, tenure types) typically move at different rates — the period’s ‘top movers’ are units or sub-cohorts whose performance deviated meaningfully from the mean. For investors and sellers, identifying these movers is more useful than the headline average because the mean smooths out the dispersion that creates actual buying or selling opportunities.
Typical top-mover categories in any digest period include: (a) freehold units in 99-year-dominated districts that command a meaningful tenure premium, (b) high-floor units in projects with strong views or panoramic orientation (5–15% PSF premium vs low-floor in same project), (c) recently-renovated stock that commands ~5–10% premium over comparable un-renovated transacted PSF, and (d) units close to recently-opened MRT lines or new developments that create proximity-premium uplift. For District 23 in the trailing window, the dispersion across these categories is the more informative reading than the headline median. Use new launches map for cross-reference.
Conversely, soft-mover categories typically include 99-year leasehold stock approaching financing-window thresholds (lease <30 years), units with unfavourable orientation or noise exposure, and developments where MCST management quality has degraded. Cross-reference URA REALIS for the per-project caveats and assess which projects in District 23 fall into which category.
The embedded chart for this new-launch price trend digest of District 23 in the trailing window visualises the new-launch transacted price trajectory trajectory. The two readings to focus on are (1) the absolute level versus the trailing-12-month mean, and (2) the direction of change across the most recent 3–4 periods. A single-period spike or trough is rarely informative; sustained directional movement across multiple periods signals a structural shift worth acting on.
For comparative context, place District 23’s the trailing window reading against (a) the corresponding national-level URA Property Price Index figure for the segment, and (b) the equivalent reading in adjacent districts or towns. The relative positioning — whether District 23 is leading or lagging the national segment — informs whether the period’s reading is geography-specific or part of a broader cycle move. Use stamp duty calculator for district-level visual comparison and mortgage calculator for direct numeric benchmarking.
Looking ahead from the trailing window, the forward variables for District 23 new-launch transacted price trajectory are (a) the URA Government Land Sales pipeline within a 1km radius, which determines new-supply pressure, (b) the SORA trajectory over the next 2–4 quarters, which shapes mortgage-driven affordability, and (c) any local infrastructure changes (new MRT stations, school openings, redevelopment of neighbouring plots) that could shift relative attractiveness. Track these via URA REALIS and the MAS SORA dashboard (as of 2026-Q1).
Frequently Asked Questions
How many new launch projects are in District 23?
What is the average PSF for new launches in District 23?
Is District 23 in the CCR, RCR, or OCR?
What does the the trailing window new-launch price trend reading for District 23 indicate?
The reading is a snapshot of transacted activity in the trailing window for District 23 on the new-launch transacted price trajectory dimension. Single-period readings are most informative when read against trailing-12-month and same-period-prior-year benchmarks. Pull verified caveats from URA REALIS for transaction-level detail (as of 2026-Q1).
How was this new-launch transacted price trajectory figure computed?
The figure is derived from URA REALIS caveats for District 23 filed during the trailing window. new-launch transacted price trajectory computations follow standard methodologies: gross yield = annual rent / purchase price for the same unit cohort; transacted PSF = price / floor area; volume = caveat count for the segment. For HDB digests the equivalent source is the HDB resale portal.
How does this period compare to the same period a year ago?
Year-over-year comparison strips out seasonality. The most informative read is whether the trailing window’s new-launch transacted price trajectory reading is materially above or below the equivalent period one year earlier, controlling for the broader Singapore property cycle. Use the URA Property Price Index for cycle-level context.
What policy environment shaped this reading?
The reading sits within the post-April-2023 cooling-measure regime: foreigner ABSD 60%, SC second-property ABSD 20%, TDSR 55% per the MAS TDSR / cooling measures explainer. SORA-linked mortgage rates near 4.0% effective shape the affordability ceiling. These structural variables affect demand-side composition across all digest periods since 2023.
Should I act on this digest?
Honest answer: depends on holding horizon and buyer profile. For owner-occupiers with 10+ year horizons, single-period digest readings rarely trigger action. For sellers or short-horizon investors, sustained directional moves across 3–4 periods may indicate timing windows. Cross-reference your specific buyer profile via the IRAS BSD rates and CPF home ownership rules alongside the digest data.
Where can I find more new-launch price trend data for District 23?
The authoritative source is URA REALIS for private residential, HDB resale portal for HDB. ShiokNest aggregates this data into per-geography, per-period, and per-segment views with chart visualisations and trend analysis.
Methodology & Sources
The dataset behind this report spans All available months; we refresh it as new data becomes available.
Transaction data sourced from URA REALIS.
- Developer sales data from URA REALIS.
- PSF values represent median price per square foot from developer sales.
Price-per-square-foot (PSF) here means the median deal in the period; means are reserved for volume-weighted aggregates explicitly labelled as such.