- Total of 10,890 transactions recorded in August 2022 (-6.8% MoM).
- Median sale price per square foot: $1,604, down 8.2% from last month.
- Median monthly rent: $4,000 (+0.0% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 296 sales.
- Highest gross yield: 3.1% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 10,890 total transactions in August 2022, down 6.8% from the previous month. Sales volume stood at 1,953 units with a median price of $1,604 per square foot, while the rental market saw 8,937 leases at a median rent of $4,000/month. For an overview of the buying process, see our Singapore Condo Maintenance Fees Explained — MCST, Funds & Voting.
Highest-Value Transactions
The top 5 transactions by total price in August 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $55,500,000 | $2,056 | 27,000 | Resale |
| WHITE HOUSE PARK | D10 | $45,500,000 | $3,017 | 15,081 | Resale |
| RAFFLES PARK | D11 | $23,500,000 | $2,230 | 10,540 | Resale |
| TOMLINSON HEIGHTS | D10 | $23,000,000 | $4,645 | 4,951 | Resale |
| LANDED HOUSING DEVELOPMENT | D4 | $18,500,000 | $1,961 | 9,436 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,953 transactions in August 2022, representing a decrease of 14.3% month-on-month and down 42.1% year-on-year. The median price per square foot was $1,604 (down 8.2% MoM), while the median transaction price stood at $1,630,000.
Transaction Mix: Resale: 1,428 (73.1%) · New Sale: 433 (22.2%) · Sub Sale: 92 (4.7%)
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) | 454 | $2,579 | 2,693 | $5,800 | 2.76% |
| RCR (Rest of Central Region) | 534 | $1,806 | 3,030 | $4,100 | 2.69% |
| OCR (Outside Central Region) | 965 | $1,282 | 3,214 | $3,400 | 3.1% |
For a deeper comparison, see Developer Track Record — Which Developers Deliver the Best Returns?.
Top Districts by Activity
The most active districts by sales volume in August 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 296 | $1,332 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 232 | $2,678 |
| District 3 (Queenstown, Tiong Bahru) | Queenstown, Tiong Bahru | RCR | 123 | $2,266 |
| District 9 (Orchard, Cairnhill, River Valley) | Orchard, Cairnhill, River Valley | CCR | 110 | $2,556 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 106 | $1,697 |
Notable Transactions
The highest-value transactions by price per square foot in August 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| TOMLINSON HEIGHTS | D10 | $4,645 | $23,000,000 | 4,951 | Resale |
| PARK NOVA | D10 | $4,532 | $10,000,000 | 2,207 | New Sale |
| PARK NOVA | D10 | $4,532 | $10,000,000 | 2,207 | New Sale |
| BOULEVARD 88 | D10 | $4,121 | $5,411,400 | 1,313 | New Sale |
| BOULEVARD 88 | D10 | $4,081 | $5,359,200 | 1,313 | New Sale |
| HILLTOPS | D9 | $4,031 | $8,460,000 | 2,099 | Resale |
| BOULEVARD 88 | D10 | $3,982 | $5,228,700 | 1,313 | New Sale |
| LANDED HOUSING DEVELOPMENT | D11 | $3,805 | $12,350,000 | 3,245 | New Sale |
| HILLTOPS | D9 | $3,739 | $6,480,000 | 1,733 | Resale |
| TOMLINSON HEIGHTS | D10 | $3,734 | $10,250,000 | 2,745 | Resale |
Rental Market Snapshot
The rental market recorded 8,937 leases in August 2022, down 4.9% month-on-month. The median monthly rent was $4,000 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,900 |
| 2BR | $3,700 |
| 3BR | $4,600 |
| 4BR | $8,000 |
| 5BR | $11,000 |
| 6BR | $34,000 |
| NA | $5,000 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 251 |
| NON-LANDED HOUSING DEVELOPMENT | 155 |
| STIRLING RESIDENCES | 118 |
| PARK COLONIAL | 63 |
| D'LEEDON | 60 |
Planning to rent? Check out our How to Project Rental Property Cash Flow.
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 |
|---|---|---|
| 2022-03 | $1,534 | $3,500 |
| 2022-04 | $1,527 | $3,500 |
| 2022-05 | $1,791 | $3,500 |
| 2022-06 | $1,571 | $3,700 |
| 2022-07 | $1,747 | $4,000 |
| 2022-08 | $1,604 | $4,000 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Trends by Bedroom Type — 2023.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 433 units (22.2% of total), while resales made up 1,428 transactions and 92 sub-sales were recorded.
Unit Size Demand: 5BR+: 254 (13%) · 3BR: 603 (30.9%) · 4BR: 294 (15.1%) · 2BR: 382 (19.6%) · Studio: 130 (6.7%) · 1BR: 290 (14.8%)
Price Distribution: $500K-1M: 305 · $1M-1.5M: 551 · $1.5M-2M: 412 · $2M-3M: 306 · $3M+: 379
Explore our latest Condos with Best Views in District 11 (Watten Estate, Novena, Thomson) for featured developments.
Outlook & What to Watch
In 2022, the introduction of higher Additional Buyer's Stamp Duty (IRAS ABSD ratesABSD) rates in December 2021 tempered foreign demand, while domestic buyers remained active amid rising interest rates.
Key takeaways for August 2022:
- Prices have softened with median PSF falling 8.2% 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 101%, above historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · Gross Yield vs Net Yield: Property Returns Explained
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 | $770,000 | -- | -- |
| 1 | $1,209,000 | -- | -- |
| 1BR | -- | $2,900/mo | -- |
| 2 | $1,330,000 | -- | -- |
| 2BR | -- | $3,700/mo | -- |
| 3 | $1,545,000 | -- | -- |
| 3BR | -- | $4,600/mo | -- |
| 4 | $2,690,450 | -- | -- |
| 4BR | -- | $8,000/mo | -- |
| 5 | $4,670,000 | -- | -- |
| 5BR | -- | $11,000/mo | -- |
| 6BR | -- | $34,000/mo | -- |
| NA | -- | $5,000/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Evaluate Mortgage Refinancing
- How to Check TDSR and MSR Affordability
- Singapore Condo Maintenance Fees Explained — MCST, Funds & Voting
- Stamp Duty Singapore Complete Guide — BSD, ABSD & Remission Rules
- New Launch vs Resale Price Premium Deep Dive
- Singapore Condo Resale Process — Complete Buyer & Seller Guide
- Singapore Cooling Measures: History and Current Rates
- What Is PSF? Price Per Square Foot Explained
- Gross Yield vs Net Yield: Property Returns Explained
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: 807 condos with sales data and 1794 with rental data out of 3429 tracked properties for August 2022.