- Total of 10,941 transactions recorded in August 2024 (-10.0% MoM).
- Median sale price per square foot: $1,685, down 7.7% from last month.
- Median monthly rent: $4,500 (+2.3% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 256 sales.
- Highest gross yield: 3.12% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 10,941 total transactions in August 2024, down 10.0% from the previous month. Sales volume stood at 1,870 units with a median price of $1,685 per square foot, while the rental market saw 9,071 leases at a median rent of $4,500/month. For an overview of the buying process, see our Best Condos Near Orchard Road — Lifestyle Meets Investment.
Highest-Value Transactions
The top 5 transactions by total price in August 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| TANGLIN HILL VILLAS | D10 | $39,200,000 | $2,507 | 15,636 | Resale |
| LANDED HOUSING DEVELOPMENT | D23 | $25,000,000 | $1,455 | 17,183 | Resale |
| CLEMENTI PARK | D21 | $20,000,000 | $2,328 | 8,592 | Resale |
| 32 GILSTEAD | D11 | $14,713,000 | $3,505 | 4,198 | New Sale |
| BRADDELL HEIGHTS ESTATE | D13 | $13,500,000 | $1,058 | 12,757 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,870 transactions in August 2024, representing a decrease of 16.2% month-on-month and down 8.3% year-on-year. The median price per square foot was $1,685 (down 7.7% MoM), while the median transaction price stood at $1,708,944.
Transaction Mix: Resale: 1,525 (81.6%) · Sub Sale: 117 (6.3%) · New Sale: 228 (12.2%)
Segment Performance: CCR, RCR & OCR
Performance across Singapore's three market segments shows differentiated pricing and demand patterns. See our CCR, RCR, OCR: Singapore's Market Segments for segment definitions.
| Segment | Sales Vol. | Median PSF | Rentals | Median Rent | Gross Yield |
|---|---|---|---|---|---|
| CCR (Core Central Region) | 235 | $2,154 | 2,739 | $5,800 | 2.69% |
| RCR (Rest of Central Region) | 544 | $2,005 | 3,125 | $4,500 | 2.63% |
| OCR (Outside Central Region) | 1,091 | $1,478 | 3,207 | $3,900 | 3.12% |
For a deeper comparison, see Rental Yield by District: Best Returns.
Top Districts by Activity
The most active districts by sales volume in August 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 256 | $1,567 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 187 | $2,076 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 124 | $1,457 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 122 | $1,494 |
| District 27 (Yishun, Sembawang) | Yishun, Sembawang | OCR | 110 | $1,302 |
Notable Transactions
The highest-value transactions by price per square foot in August 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $3,983 | $9,600,000 | 2,410 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $3,983 | $9,600,000 | 2,410 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $3,983 | $9,600,000 | 2,410 | Resale |
| 19 NASSIM | D10 | $3,681 | $3,407,310 | 926 | New Sale |
| CANNINGHILL PIERS | D6 | $3,567 | $1,728,000 | 484 | New Sale |
| 19 NASSIM | D10 | $3,566 | $5,258,000 | 1,475 | New Sale |
| NASSIM MANSION | D10 | $3,540 | $12,080,000 | 3,412 | Resale |
| 32 GILSTEAD | D11 | $3,505 | $14,713,000 | 4,198 | New Sale |
| 19 NASSIM | D10 | $3,477 | $3,668,000 | 1,055 | New Sale |
| FOUR SEASONS PARK | D10 | $3,451 | $7,800,000 | 2,260 | Resale |
Rental Market Snapshot
The rental market recorded 9,071 leases in August 2024, down 8.5% month-on-month. The median monthly rent was $4,500 (up 2.3% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,300 |
| 2BR | $4,100 |
| 3BR | $5,300 |
| 4BR | $8,600 |
| 5BR | $12,000 |
| 6BR | $31,000 |
| 8BR | $13,500 |
| NA | $5,550 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 205 |
| NON-LANDED HOUSING DEVELOPMENT | 120 |
| STIRLING RESIDENCES | 108 |
| PARK COLONIAL | 64 |
| D'LEEDON | 53 |
Planning to rent? Check out our Buy vs Rent: Finding Your Break-Even Point.
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 |
|---|---|---|
| 2024-03 | $1,916 | $4,300 |
| 2024-04 | $1,738 | $4,400 |
| 2024-05 | $1,669 | $4,300 |
| 2024-06 | $1,714 | $4,250 |
| 2024-07 | $1,827 | $4,400 |
| 2024-08 | $1,685 | $4,500 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 228 units (12.2% of total), while resales made up 1,525 transactions and 117 sub-sales were recorded.
Unit Size Demand: 5BR+: 239 (12.8%) · 4BR: 289 (15.5%) · 2BR: 339 (18.1%) · 3BR: 656 (35.1%) · 1BR: 247 (13.2%) · Studio: 100 (5.3%)
Price Distribution: <$500K: 3 · $500K-1M: 182 · $1M-1.5M: 542 · $1.5M-2M: 408 · $2M-3M: 384 · $3M+: 351
Explore our latest Condos with Best Views in District 13 (Macpherson, Braddell) for featured developments.
Outlook & What to Watch
Throughout 2024, Singapore's private residential market showed remarkable resilience with stable pricing and healthy transaction volumes despite elevated interest rates.
Key takeaways for August 2024:
- Prices have softened with median PSF falling 7.7% month-on-month.
- Rents are holding firm with median rent up 2.3% 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 46%, near historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · ABSD Explained: Additional Buyer's Stamp Duty Rates
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 | $830,000 | -- | -- |
| 1 | $1,145,000 | -- | -- |
| 1BR | -- | $3,300/mo | -- |
| 2 | $1,410,000 | -- | -- |
| 2BR | -- | $4,100/mo | -- |
| 3 | $1,730,000 | -- | -- |
| 3BR | -- | $5,300/mo | -- |
| 4 | $2,840,000 | -- | -- |
| 4BR | -- | $8,600/mo | -- |
| 5 | $4,450,000 | -- | -- |
| 5BR | -- | $12,000/mo | -- |
| 6BR | -- | $31,000/mo | -- |
| 8BR | -- | $13,500/mo | -- |
| NA | -- | $5,550/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
- Best Condos Near Orchard Road — Lifestyle Meets Investment
- New Launch vs Resale Price Premium Deep Dive
- Pet-Friendly Condo Living — Rules, Breeds & Best Developments
- Singapore Condo Resale Process — Complete Buyer & Seller Guide
- HDB MOP Condo Upgrade — Timing, Costs & Strategy
- Capital Gains and Appreciation: How Values Grow
- ABSD Explained: Additional Buyer's Stamp Duty Rates
- 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: 785 condos with sales data and 1780 with rental data out of 3429 tracked properties for August 2024.