- Total of 9,319 transactions recorded in May 2022 (-10.3% MoM).
- Median sale price per square foot: $1,791, up 17.3% from last month.
- Median monthly rent: $3,500 (+0.0% MoM).
- Most active district: District 15 (Katong, Joo Chiat, Amber Road) with 443 sales.
- Highest gross yield: 2.78% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,319 total transactions in May 2022, down 10.3% from the previous month. Sales volume stood at 2,991 units with a median price of $1,791 per square foot, while the rental market saw 6,328 leases at a median rent of $3,500/month. For an overview of the buying process, see our Divorce & Property in Singapore — Splitting Ownership & Obligations.
Highest-Value Transactions
The top 5 transactions by total price in May 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LAKESIDE APARTMENTS | D22 | $273,888,888 | $1,504 | 182,125 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $23,800,000 | $1,818 | 13,092 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $22,000,000 | $2,223 | 9,896 | Resale |
| THE NASSIM | D10 | $20,000,000 | $4,916 | 4,069 | Resale |
| REFLECTIONS AT KEPPEL BAY | D4 | $19,000,000 | $2,295 | 8,277 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,991 transactions in May 2022, representing an increase of 17.7% month-on-month and down 8.6% year-on-year. The median price per square foot was $1,791 (up 17.3% MoM), while the median transaction price stood at $1,630,000.
Transaction Mix: Resale: 1,640 (54.8%) · New Sale: 1,297 (43.4%) · Sub Sale: 54 (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) | 430 | $2,483 | 1,896 | $4,619 | 2.35% |
| RCR (Rest of Central Region) | 1,349 | $2,119 | 2,058 | $3,600 | 2.47% |
| OCR (Outside Central Region) | 1,212 | $1,282 | 2,374 | $3,100 | 2.78% |
For a deeper comparison, see Freehold vs 99-Year Leasehold: Price Premium.
Top Districts by Activity
The most active districts by sales volume in May 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 443 | $2,278 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 416 | $1,271 |
| District 8 (Little India) | Little India | RCR | 349 | $2,159 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 198 | $2,580 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 149 | $1,709 |
Notable Transactions
The highest-value transactions by price per square foot in May 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| THE NASSIM | D10 | $4,916 | $20,000,000 | 4,069 | Resale |
| BOULEVARD 88 | D10 | $4,836 | $13,378,000 | 2,766 | Sub Sale |
| PARK NOVA | D10 | $4,577 | $10,099,000 | 2,207 | New Sale |
| ARDMORE PARK | D10 | $4,240 | $12,230,000 | 2,885 | Resale |
| NASSIM PARK RESIDENCES | D10 | $3,835 | $13,500,000 | 3,520 | Resale |
| KLIMT CAIRNHILL | D9 | $3,826 | $5,478,000 | 1,432 | New Sale |
| WALLICH RESIDENCE | D2 | $3,733 | $3,415,000 | 915 | Resale |
| WALLICH RESIDENCE | D2 | $3,687 | $6,350,000 | 1,722 | Resale |
| 3 ORCHARD BY-THE-PARK | D10 | $3,583 | $8,100,000 | 2,260 | Resale |
| EDEN RESIDENCES CAPITOL | D6 | $3,450 | $10,584,600 | 3,068 | Resale |
Rental Market Snapshot
The rental market recorded 6,328 leases in May 2022, down 19.3% month-on-month. The median monthly rent was $3,500 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,700 |
| 2BR | $3,350 |
| 3BR | $4,200 |
| 4BR | $6,975 |
| 5BR | $9,150 |
| NA | $3,900 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| NON-LANDED HOUSING DEVELOPMENT | 148 |
| LANDED HOUSING DEVELOPMENT | 141 |
| THE SAIL @ MARINA BAY | 53 |
| PARK COLONIAL | 39 |
| EUHABITAT | 39 |
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 |
|---|---|---|
| 2021-12 | $1,517 | $3,200 |
| 2022-01 | $1,488 | $3,300 |
| 2022-02 | $1,564 | $3,400 |
| 2022-03 | $1,534 | $3,500 |
| 2022-04 | $1,527 | $3,500 |
| 2022-05 | $1,791 | $3,500 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Trends by Floor Level — 2026.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 1,297 units (43.4% of total), while resales made up 1,640 transactions and 54 sub-sales were recorded.
Unit Size Demand: 5BR+: 322 (10.8%) · 4BR: 389 (13%) · 2BR: 607 (20.3%) · 3BR: 949 (31.7%) · 1BR: 507 (17%) · Studio: 217 (7.3%)
Price Distribution: $500K-1M: 342 · $1M-1.5M: 914 · $1.5M-2M: 701 · $2M-3M: 551 · $3M+: 483
Explore our latest Best Condos Under $1 Million in Singapore 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 May 2022:
- Prices are trending upward with median PSF rising 17.3% 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 94%, near historical averages.
Useful resources: How to Use the Mortgage Calculator · Singapore Cooling Measures: History and Current 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 | $950,000 | -- | -- |
| 1 | $1,302,000 | -- | -- |
| 1BR | -- | $2,700/mo | -- |
| 2 | $1,560,000 | -- | -- |
| 2BR | -- | $3,350/mo | -- |
| 3 | $1,735,000 | -- | -- |
| 3BR | -- | $4,200/mo | -- |
| 4 | $2,792,000 | -- | -- |
| 4BR | -- | $6,975/mo | -- |
| 5 | $4,600,000 | -- | -- |
| 5BR | -- | $9,150/mo | -- |
| NA | -- | $3,900/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
- Divorce & Property in Singapore — Splitting Ownership & Obligations
- Expat Family Condo Guide — Schools, Space & Smart Choices
- En-Bloc and Collective Sale: Complete Guide for Condo Owners
- When Is the Right Time to Buy a Condo in Singapore?
- Tengah Town Guide — Singapore's First Car-Free Town
- ABSD Explained: Additional Buyer's Stamp Duty Rates
- Property Expense Ratio: Rental Costs and Deductions
- IRR: Internal Rate of Return for Property Investors
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: 849 condos with sales data and 1528 with rental data out of 3429 tracked properties for May 2022.