- Total of 8,538 transactions recorded in May 2025 (-12.8% MoM).
- Median sale price per square foot: $1,830, down 4.0% from last month.
- Median monthly rent: $4,300 (-2.7% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 234 sales.
- Highest gross yield: 2.84% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 8,538 total transactions in May 2025, down 12.8% from the previous month. Sales volume stood at 1,765 units with a median price of $1,830 per square foot, while the rental market saw 6,773 leases at a median rent of $4,300/month. For an overview of the buying process, see our Pet-Friendly Condo Living — Rules, Breeds & Best Developments.
Highest-Value Transactions
The top 5 transactions by total price in May 2025:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| PEIRCE VILLAS | D10 | $37,000,000 | $2,144 | 17,260 | Resale |
| 21 ANDERSON | D10 | $24,000,000 | $5,347 | 4,489 | New Sale |
| LANDED HOUSING DEVELOPMENT | D11 | $23,500,000 | $2,049 | 11,468 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $23,500,000 | $2,049 | 11,468 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $23,500,000 | $2,049 | 11,468 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,765 transactions in May 2025, representing a decrease of 28.3% month-on-month and down 12.5% year-on-year. The median price per square foot was $1,830 (down 4.0% MoM), while the median transaction price stood at $1,798,888.
Transaction Mix: Resale: 1,388 (78.6%) · New Sale: 308 (17.5%) · Sub Sale: 69 (3.9%)
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) | 191 | $2,217 | 1,995 | $5,500 | 2.5% |
| RCR (Rest of Central Region) | 652 | $2,185 | 2,313 | $4,350 | 2.6% |
| OCR (Outside Central Region) | 922 | $1,554 | 2,465 | $3,800 | 2.84% |
For a deeper comparison, see East Coast vs West Coast — Where Should You Buy?.
Top Districts by Activity
The most active districts by sales volume in May 2025:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 234 | $1,624 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 166 | $2,036 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 130 | $2,132 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 127 | $1,527 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 114 | $1,479 |
Notable Transactions
The highest-value transactions by price per square foot in May 2025:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| 21 ANDERSON | D10 | $5,347 | $24,000,000 | 4,489 | New Sale |
| BOULEVARD 88 | D10 | $3,902 | $5,124,300 | 1,313 | Resale |
| ENG AUN PARK | D11 | $3,796 | $5,590,000 | 1,473 | Resale |
| LANDED HOUSING DEVELOPMENT | D12 | $3,766 | $5,400,000 | 1,434 | Resale |
| 19 NASSIM | D10 | $3,691 | $2,980,000 | 807 | Resale |
| LANDED HOUSING DEVELOPMENT | D19 | $3,684 | $5,330,000 | 1,447 | Resale |
| WALLICH RESIDENCE | D2 | $3,638 | $6,030,000 | 1,658 | Resale |
| 32 GILSTEAD | D11 | $3,588 | $15,100,000 | 4,209 | New Sale |
| 32 GILSTEAD | D11 | $3,579 | $15,100,000 | 4,219 | New Sale |
| MACPHERSON GARDEN ESTATE | D13 | $3,504 | $3,100,000 | 885 | Resale |
Rental Market Snapshot
The rental market recorded 6,773 leases in May 2025, down 7.7% month-on-month. The median monthly rent was $4,300 (down 2.7% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,200 |
| 2BR | $4,100 |
| 3BR | $5,200 |
| 4BR | $8,300 |
| 5BR | $7,600 |
| 6BR | $20,000 |
| NA | $5,000 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 128 |
| NON-LANDED HOUSING DEVELOPMENT | 107 |
| IRWELL HILL RESIDENCES | 45 |
| PULLMAN RESIDENCES NEWTON | 38 |
| D'LEEDON | 35 |
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 |
|---|---|---|
| 2024-12 | $1,719 | $4,300 |
| 2025-01 | $2,253 | $4,350 |
| 2025-02 | $2,284 | $4,400 |
| 2025-03 | $1,798 | $4,300 |
| 2025-04 | $1,906 | $4,419 |
| 2025-05 | $1,830 | $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 308 units (17.5% of total), while resales made up 1,388 transactions and 69 sub-sales were recorded.
Unit Size Demand: 5BR+: 214 (12.1%) · 4BR: 284 (16.1%) · 3BR: 553 (31.3%) · 2BR: 335 (19%) · 1BR: 247 (14%) · Studio: 132 (7.5%)
Price Distribution: $500K-1M: 154 · $1M-1.5M: 451 · $1.5M-2M: 430 · $2M-3M: 363 · $3M+: 367
Explore our latest Condos with Best Views in District 4 (Telok Blangah, Harbourfront) for featured developments.
Outlook & What to Watch
In 2025, the market is adjusting to a normalising interest rate environment as MAS SORASORA rates gradually ease from their peak, supporting buyer sentiment.
Key takeaways for May 2025:
- Prices have softened with median PSF falling 4.0% month-on-month.
- Rental rates have eased with median rent down 2.7% 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 43%, near historical averages.
Useful resources: How to Use the Mortgage Calculator · 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 | $879,000 | -- | -- |
| 1 | $1,222,500 | -- | -- |
| 1BR | -- | $3,200/mo | -- |
| 2 | $1,525,000 | -- | -- |
| 2BR | -- | $4,100/mo | -- |
| 3 | $1,870,000 | -- | -- |
| 3BR | -- | $5,200/mo | -- |
| 4 | $3,024,000 | -- | -- |
| 4BR | -- | $8,300/mo | -- |
| 5 | $4,988,000 | -- | -- |
| 5BR | -- | $7,600/mo | -- |
| 6BR | -- | $20,000/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 Use the Mortgage Calculator
- Pet-Friendly Condo Living — Rules, Breeds & Best Developments
- Singapore Rental Income Tax Guide — IRAS Rules, Deductions & Filing
- Singapore Mortgage Guide: Fixed vs Floating
- Buying Property for Your Children — Trusts, ABSD & Estate Planning
- Joint Tenancy vs Tenancy-in-Common — Ownership Comparison
- Moving Averages: Reading Property Price Trends
- BSD Explained: Buyer's Stamp Duty Rates in Singapore
- Singapore Cooling Measures: History and Current Rates
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: 744 condos with sales data and 1662 with rental data out of 3429 tracked properties for May 2025.