- Total of 3,491 transactions recorded in February 2021 (+38,688.9% MoM).
- Median sale price per square foot: $1,356.
- Median monthly rent: $3,000 (+20.0% MoM).
- Most active district: District 18 (Tampines, Pasir Ris) with 80 sales.
- Highest gross yield: 2.49% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 3,491 total transactions in February 2021, up 38,688.9% from the previous month. Sales volume stood at 493 units with a median price of $1,356 per square foot, while the rental market saw 2,998 leases at a median rent of $3,000/month. For an overview of the buying process, see our Buying Property Through a Trust or Company in Singapore.
Highest-Value Transactions
The top 5 transactions by total price in February 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $28,000,000 | $1,376 | 20,345 | Resale |
| RESIDENTIAL APARTMENTS | D9 | $18,000,000 | $3,244 | 5,549 | Resale |
| LE NOUVEL ARDMORE | D10 | $16,880,000 | $4,160 | 4,058 | Resale |
| TWENTYONE ANGULLIA PARK | D9 | $9,360,000 | $4,045 | 2,314 | Resale |
| EMERALD HILL CONSERVATION AREA | D9 | $8,280,000 | $4,356 | 1,901 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 493 transactions in February 2021. The median price per square foot was $1,356, while the median transaction price stood at $1,420,000.
Transaction Mix: Resale: 287 (58.2%) · New Sale: 204 (41.4%) · Sub Sale: 2 (0.4%)
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) | 51 | $1,858 | 954 | $4,000 | 2.18% |
| RCR (Rest of Central Region) | 161 | $1,696 | 998 | $3,000 | 2.17% |
| OCR (Outside Central Region) | 281 | $1,179 | 1,046 | $2,550 | 2.49% |
For a deeper comparison, see SE Asia Property Investment — Singapore vs Bangkok vs KL vs Jakarta.
Top Districts by Activity
The most active districts by sales volume in February 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 80 | $1,159 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 66 | $1,208 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 39 | $1,181 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 36 | $1,630 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 34 | $1,671 |
Notable Transactions
The highest-value transactions by price per square foot in February 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| EMERALD HILL CONSERVATION AREA | D9 | $4,356 | $8,280,000 | 1,901 | Resale |
| LE NOUVEL ARDMORE | D10 | $4,160 | $16,880,000 | 4,058 | Resale |
| TWENTYONE ANGULLIA PARK | D9 | $4,045 | $9,360,000 | 2,314 | Resale |
| RESIDENTIAL APARTMENTS | D9 | $3,244 | $18,000,000 | 5,549 | Resale |
| MIDTOWN BAY | D7 | $3,038 | $1,406,000 | 463 | New Sale |
| THE AVENIR | D9 | $2,980 | $4,555,000 | 1,528 | New Sale |
| MARTIN MODERN | D9 | $2,904 | $2,469,000 | 850 | New Sale |
| ROYALGREEN | D10 | $2,789 | $3,513,000 | 1,259 | New Sale |
| SKY EVERTON | D2 | $2,634 | $2,410,000 | 915 | New Sale |
| NEU AT NOVENA | D11 | $2,626 | $2,148,000 | 818 | New Sale |
Rental Market Snapshot
The rental market recorded 2,998 leases in February 2021, up 33,211.1% month-on-month. The median monthly rent was $3,000 (up 20.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,300 |
| 2BR | $2,800 |
| 3BR | $3,600 |
| 4BR | $6,000 |
| 5BR | $7,900 |
| NA | $3,225 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| NON-LANDED HOUSING DEVELOPMENT | 56 |
| LANDED HOUSING DEVELOPMENT | 46 |
| THE POIZ RESIDENCES | 27 |
| MARINA ONE RESIDENCES | 25 |
| FOREST WOODS | 22 |
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 |
|---|---|---|
| 2020-09 | -- | -- |
| 2020-10 | -- | -- |
| 2020-11 | -- | -- |
| 2020-12 | -- | -- |
| 2021-01 | -- | $2,500 |
| 2021-02 | $1,356 | $3,000 |
Market volatility assessment: Stable (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Price Distribution — 2022.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 204 units (41.4% of total), while resales made up 287 transactions and 2 sub-sales were recorded.
Unit Size Demand: 5BR+: 65 (13.2%) · 4BR: 74 (15%) · 3BR: 160 (32.5%) · Studio: 26 (5.3%) · 1BR: 53 (10.8%) · 2BR: 115 (23.3%)
Price Distribution: $500K-1M: 96 · $1M-1.5M: 173 · $1.5M-2M: 103 · $2M-3M: 61 · $3M+: 60
Explore our latest Top 10 Condos by Transaction Volume 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 February 2021:
- Rents are holding firm with median rent up 20.0% 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 58%, near historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · TDSR and MSR: Singapore's Borrowing Limits
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 | $768,500 | -- | -- |
| 1 | $1,115,000 | -- | -- |
| 1BR | -- | $2,300/mo | -- |
| 2 | $1,257,112 | -- | -- |
| 2BR | -- | $2,800/mo | -- |
| 3 | $1,385,500 | -- | -- |
| 3BR | -- | $3,600/mo | -- |
| 4 | $2,114,000 | -- | -- |
| 4BR | -- | $6,000/mo | -- |
| 5 | $4,200,000 | -- | -- |
| 5BR | -- | $7,900/mo | -- |
| NA | -- | $3,225/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 Use the Mortgage Calculator
- How to Compare Mortgage Loan Packages
- Buying Property Through a Trust or Company in Singapore
- PR vs Citizen Stamp Duty Comparison — Full Cost Differential
- Strata Office Investment Guide — Yields, Risks & 2026 Outlook
- Gross Yield vs Net Yield: Property Returns Explained
- CCR, RCR, OCR: Singapore's Market Segments
- Capital Gains and Appreciation: How Values Grow
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: 279 condos with sales data and 1105 with rental data out of 3429 tracked properties for February 2021.