- Total of 12,617 transactions recorded in August 2021 (-9.9% MoM).
- Median sale price per square foot: $1,471, down 6.1% from last month.
- Median monthly rent: $3,200 (+0.0% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 422 sales.
- Highest gross yield: 2.73% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 12,617 total transactions in August 2021, down 9.9% from the previous month. Sales volume stood at 3,372 units with a median price of $1,471 per square foot, while the rental market saw 9,245 leases at a median rent of $3,200/month. For an overview of the buying process, see our Stamp Duty Complete Guide: BSD, ABSD, and SSD.
Highest-Value Transactions
The top 5 transactions by total price in August 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $45,000,000 | $1,379 | 32,626 | Resale |
| THE MARQ ON PATERSON HILL | D9 | $25,500,000 | $4,043 | 6,308 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $23,399,999 | $2,373 | 9,861 | Resale |
| KILBURN ESTATE | D21 | $23,180,000 | $1,503 | 15,421 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $22,000,000 | $1,629 | 13,508 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 3,372 transactions in August 2021, representing a decrease of 13.2% month-on-month. The median price per square foot was $1,471 (down 6.1% MoM), while the median transaction price stood at $1,441,000.
Transaction Mix: Resale: 2,034 (60.3%) · New Sale: 1,277 (37.9%) · Sub Sale: 61 (1.8%)
Segment Performance: CCR, RCR & OCR
Performance across Singapore's three market segments shows differentiated pricing and demand patterns.
| Segment | Sales Vol. | Median PSF | Rentals | Median Rent | Gross Yield |
|---|---|---|---|---|---|
| CCR (Core Central Region) | 460 | $2,119 | 2,882 | $4,750 | 2.48% |
| RCR (Rest of Central Region) | 954 | $1,684 | 2,938 | $3,200 | 2.24% |
| OCR (Outside Central Region) | 1,958 | $1,301 | 3,425 | $2,750 | 2.73% |
For a deeper comparison, see East Coast vs Katong: Coastal Living Showdown.
Top Districts by Activity
The most active districts by sales volume in August 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 422 | $1,221 |
| District 27 (Yishun, Sembawang) | Yishun, Sembawang | OCR | 383 | $1,447 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 312 | $1,717 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 237 | $1,581 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 235 | $1,135 |
Notable Transactions
The highest-value transactions by price per square foot in August 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| PARK NOVA | D10 | $4,810 | $13,928,000 | 2,895 | New Sale |
| PARK NOVA | D10 | $4,762 | $13,788,000 | 2,895 | New Sale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $4,580 | $14,000,000 | 3,057 | Resale |
| EMERALD HILL CONSERVATION AREA | D9 | $4,360 | $5,800,000 | 1,330 | Resale |
| LANDED HOUSING DEVELOPMENT | D9 | $4,341 | $6,000,000 | 1,382 | Resale |
| RESIDENTIAL APARTMENTS | D9 | $4,169 | $9,150,000 | 2,195 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $4,162 | $5,680,000 | 1,365 | Resale |
| THE MARQ ON PATERSON HILL | D9 | $4,046 | $12,500,000 | 3,089 | Resale |
| THE MARQ ON PATERSON HILL | D9 | $4,043 | $25,500,000 | 6,308 | Resale |
| WALLICH RESIDENCE | D2 | $3,904 | $3,740,000 | 958 | Resale |
Rental Market Snapshot
The rental market recorded 9,245 leases in August 2021, down 8.7% month-on-month. The median monthly rent was $3,200 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,300 |
| 2BR | $2,950 |
| 3BR | $3,800 |
| 4BR | $7,000 |
| 5BR | $7,050 |
| 6BR | $10,000 |
| NA | $4,200 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 240 |
| NON-LANDED HOUSING DEVELOPMENT | 171 |
| D'LEEDON | 71 |
| THE SAIL @ MARINA BAY | 50 |
| MARINA ONE RESIDENCES | 49 |
Planning to rent? Check out our How to Calculate Buy-to-Rent ROI.
6-Month Price Trends
Tracking median PSF and rent over the past six months reveals the underlying trend beyond monthly noise.
| Month | Median PSF | Median Rent |
|---|---|---|
| 2021-03 | $1,548 | $3,000 |
| 2021-04 | $1,528 | $3,100 |
| 2021-05 | $1,376 | $3,050 |
| 2021-06 | $1,486 | $3,200 |
| 2021-07 | $1,566 | $3,200 |
| 2021-08 | $1,471 | $3,200 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Price Distribution — 2023.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 1,277 units (37.9% of total), while resales made up 2,034 transactions and 61 sub-sales were recorded.
Unit Size Demand: 5BR+: 428 (12.7%) · 4BR: 446 (13.2%) · 3BR: 1,064 (31.6%) · 2BR: 775 (23%) · Studio: 155 (4.6%) · 1BR: 504 (14.9%)
Price Distribution: $500K-1M: 631 · $1M-1.5M: 1,138 · $1.5M-2M: 695 · $2M-3M: 458 · $3M+: 450
Explore our latest Condos with Best Views in District 1 (Raffles Place, Cecil, Marina, People's Park) for featured developments.
Outlook & What to Watch
Following the pandemic recovery, Singapore's property market rebounded strongly in 2021 with pent-up demand driving volumes higher across all segments.
Key takeaways for August 2021:
- Prices have softened with median PSF falling 6.1% month-on-month.
- Rents are holding firm with median rent up 0.0% MoM.
- The resale market remained the primary source of transactions, indicating steady demand for existing stock.
- The CCR-to-OCR price premium stands at approximately 63%, near historical averages.
Useful resources: How to Use the Mortgage Calculator · Moving Averages: Reading Property Price Trends
Bedroom Type Analysis
Prices and rents broken down by unit type help buyers identify value across different bedroom configurations.
| Bedroom | Median Sale Price | Median Rent | Est. Gross Yield |
|---|---|---|---|
| 0 | $720,000 | -- | -- |
| 1 | $1,023,000 | -- | -- |
| 1BR | -- | $2,300/mo | -- |
| 2 | $1,169,000 | -- | -- |
| 2BR | -- | $2,950/mo | -- |
| 3 | $1,480,000 | -- | -- |
| 3BR | -- | $3,800/mo | -- |
| 4 | $2,195,000 | -- | -- |
| 4BR | -- | $7,000/mo | -- |
| 5 | $4,080,000 | -- | -- |
| 5BR | -- | $7,050/mo | -- |
| 6BR | -- | $10,000/mo | -- |
| NA | -- | $4,200/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Use the Mortgage Calculator
- How to Calculate Seller's Stamp Duty (SSD)
- Stamp Duty Complete Guide: BSD, ABSD, and SSD
- Buying Property Through a Trust or Company in Singapore
- Landlord's Guide to Singapore Condo Rental
- Greater Southern Waterfront Property Guide — From Port to Premium Living
- Property Expense Ratio: Rental Costs and Deductions
- Moving Averages: Reading Property Price Trends
- ABSD Explained: Additional Buyer's Stamp Duty Rates
Official Sources: URA · URA REALIS · MAS · SORA Rates · BSD Rates · ABSD Rates · CPF Housing
Methodology & Sources
This report is compiled from transaction data published by the Urban Redevelopment Authority (URA) via the REALIS system. Median values are used throughout to minimise the impact of outliers from exceptionally high or low transactions. Month-on-month (MoM) and year-on-year (YoY) changes compare like-for-like periods.
Gross rental yield is calculated as (median monthly rent × 12) / median transaction price. Market segment classifications follow URA definitions: CCR (Core Central Region), RCR (Rest of Central Region), and OCR (Outside Central Region). Interest rate references use the Singapore Overnight Rate Average (SORA) published by MAS. Stamp duty rates reference IRAS BSD and ABSD schedules.
Data coverage: 964 condos with sales data and 1756 with rental data out of 3429 tracked properties for August 2021.