- Total of 9,248 transactions recorded in March 2024 (+26.7% MoM).
- Median sale price per square foot: $1,916, up 11.7% from last month.
- Median monthly rent: $4,300 (-2.3% MoM).
- Most active district: District 26 (Upper Thomson, Springleaf) with 517 sales.
- Highest gross yield: 2.96% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,248 total transactions in March 2024, up 26.7% from the previous month. Sales volume stood at 2,203 units with a median price of $1,916 per square foot, while the rental market saw 7,045 leases at a median rent of $4,300/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 March 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $39,500,000 | $2,020 | 19,554 | Resale |
| HILLCREST PARK | D11 | $22,880,000 | $3,535 | 6,472 | Resale |
| BRADDELL HEIGHTS ESTATE | D13 | $18,800,000 | $1,493 | 12,594 | Resale |
| MARINA ONE RESIDENCES | D1 | $18,000,000 | $2,166 | 8,310 | Resale |
| SELETAR HILLS ESTATE | D28 | $13,530,000 | $1,326 | 10,207 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,203 transactions in March 2024, representing an increase of 65.0% month-on-month and up 6.3% year-on-year. The median price per square foot was $1,916 (up 11.7% MoM), while the median transaction price stood at $1,729,000.
Transaction Mix: Resale: 1,278 (58%) · Sub Sale: 102 (4.6%) · New Sale: 823 (37.4%)
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) | 264 | $2,387 | 2,097 | $5,500 | 2.6% |
| RCR (Rest of Central Region) | 481 | $1,954 | 2,260 | $4,400 | 2.61% |
| OCR (Outside Central Region) | 1,458 | $1,742 | 2,688 | $3,800 | 2.96% |
For a deeper comparison, see Orchard Road vs River Valley: Central Living Comparison.
Top Districts by Activity
The most active districts by sales volume in March 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 26 (Upper Thomson, Springleaf) | Upper Thomson, Springleaf | OCR | 517 | $2,258 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 229 | $1,597 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 226 | $1,533 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 166 | $2,104 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 142 | $2,856 |
Notable Transactions
The highest-value transactions by price per square foot in March 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| ONE TREE HILL COLLECTION | D10 | $3,948 | $9,200,888 | 2,330 | Resale |
| KLIMT CAIRNHILL | D9 | $3,828 | $5,480,000 | 1,432 | New Sale |
| MIDTOWN BAY | D7 | $3,777 | $1,545,000 | 409 | New Sale |
| KLIMT CAIRNHILL | D9 | $3,743 | $5,600,000 | 1,496 | New Sale |
| 19 NASSIM | D10 | $3,693 | $3,578,000 | 969 | New Sale |
| KLIMT CAIRNHILL | D9 | $3,599 | $7,400,000 | 2,056 | New Sale |
| HILLCREST PARK | D11 | $3,535 | $22,880,000 | 6,472 | Resale |
| 19 NASSIM | D10 | $3,529 | $3,419,000 | 969 | New Sale |
| KLIMT CAIRNHILL | D9 | $3,501 | $3,128,000 | 893 | New Sale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,494 | $5,388,888 | 1,542 | Resale |
Rental Market Snapshot
The rental market recorded 7,045 leases in March 2024, up 18.2% month-on-month. The median monthly rent was $4,300 (down 2.3% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,250 |
| 2BR | $4,000 |
| 3BR | $5,200 |
| 4BR | $8,000 |
| 5BR | $9,200 |
| NA | $4,750 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 122 |
| NORMANTON PARK | 119 |
| NON-LANDED HOUSING DEVELOPMENT | 115 |
| THE M | 79 |
| PARC CLEMATIS | 76 |
Planning to rent? Check out our How to Visualize Lease Decay in Singapore.
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 |
|---|---|---|
| 2023-10 | $1,655 | $4,500 |
| 2023-11 | $1,972 | $4,500 |
| 2023-12 | $1,647 | $4,500 |
| 2024-01 | $1,585 | $4,450 |
| 2024-02 | $1,715 | $4,400 |
| 2024-03 | $1,916 | $4,300 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 823 units (37.4% of total), while resales made up 1,278 transactions and 102 sub-sales were recorded.
Unit Size Demand: 5BR+: 204 (9.3%) · 4BR: 261 (11.8%) · 3BR: 697 (31.6%) · 2BR: 532 (24.1%) · 1BR: 428 (19.4%) · Studio: 81 (3.7%)
Price Distribution: $500K-1M: 155 · $1M-1.5M: 656 · $1.5M-2M: 599 · $2M-3M: 477 · $3M+: 316
Explore our latest Condos with Best Views in District 12 (Balestier, Toa Payoh, Serangoon) 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 March 2024:
- Prices are trending upward with median PSF rising 11.7% month-on-month.
- Rental rates have eased with median rent down 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 37%, near historical averages.
Useful resources: How to Compare Mortgage Loan Packages · Capital Gains and Appreciation: How Values Grow
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 | $806,000 | -- | -- |
| 1 | $1,260,500 | -- | -- |
| 1BR | -- | $3,250/mo | -- |
| 2 | $1,684,000 | -- | -- |
| 2BR | -- | $4,000/mo | -- |
| 3 | $1,850,000 | -- | -- |
| 3BR | -- | $5,200/mo | -- |
| 4 | $2,650,000 | -- | -- |
| 4BR | -- | $8,000/mo | -- |
| 5 | $4,600,000 | -- | -- |
| 5BR | -- | $9,200/mo | -- |
| NA | -- | $4,750/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Compare Mortgage Loan Packages
- How to Check TDSR and MSR Affordability
- How to Calculate Stamp Duty (BSD + ABSD)
- Best Condos Near Orchard Road — Lifestyle Meets Investment
- HDB Upgrader Guide — BTO to Private Condo Step-by-Step
- Decoupling Strategy for Singapore Property Owners
- Singapore Cooling Measures: History and Current Rates
- What Is PSF? Price Per Square Foot Explained
- 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: 710 condos with sales data and 1635 with rental data out of 3429 tracked properties for March 2024.