- Total of 11,083 transactions recorded in October 2021 (-4.9% MoM).
- Median sale price per square foot: $1,493, up 5.6% from last month.
- Median monthly rent: $3,200 (+0.0% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 395 sales.
- Highest gross yield: 2.57% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 11,083 total transactions in October 2021, down 4.9% from the previous month. Sales volume stood at 2,958 units with a median price of $1,493 per square foot, while the rental market saw 8,125 leases at a median rent of $3,200/month. For an overview of the buying process, see our CPF Accrued Interest Explained — Impact on Property Decisions.
Highest-Value Transactions
The top 5 transactions by total price in October 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| WATTEN ESTATE CONDOMINIUM | D11 | $550,800,000 | $2,652 | 207,700 | Resale |
| LES MAISONS NASSIM | D10 | $75,000,000 | $6,210 | 12,077 | New Sale |
| LANDED HOUSING DEVELOPMENT | D21 | $37,500,000 | $1,457 | 25,740 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $36,000,000 | $1,468 | 24,531 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $36,000,000 | $1,468 | 24,531 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,958 transactions in October 2021, representing a decrease of 13.3% month-on-month. The median price per square foot was $1,493 (up 5.6% MoM), while the median transaction price stood at $1,585,000.
Transaction Mix: Resale: 1,900 (64.2%) · New Sale: 1,019 (34.4%) · Sub Sale: 39 (1.3%)
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) | 564 | $2,427 | 2,669 | $4,300 | 2.17% |
| RCR (Rest of Central Region) | 840 | $1,690 | 2,593 | $3,200 | 1.99% |
| OCR (Outside Central Region) | 1,554 | $1,224 | 2,863 | $2,750 | 2.57% |
For a deeper comparison, see New Launch Premium Analysis — How Much More Do You Really Pay?.
Top Districts by Activity
The most active districts by sales volume in October 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 395 | $1,226 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 316 | $2,495 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 228 | $1,679 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 222 | $1,734 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 201 | $1,432 |
Notable Transactions
The highest-value transactions by price per square foot in October 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $6,210 | $75,000,000 | 12,077 | New Sale |
| PARK NOVA | D10 | $5,232 | $11,546,000 | 2,207 | New Sale |
| PARK NOVA | D10 | $5,191 | $11,454,000 | 2,207 | New Sale |
| PARK NOVA | D10 | $5,016 | $11,068,380 | 2,207 | New Sale |
| PARK NOVA | D10 | $4,984 | $10,998,730 | 2,207 | New Sale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $4,907 | $15,000,000 | 3,057 | Resale |
| WALLICH RESIDENCE | D2 | $4,845 | $17,000,000 | 3,509 | Resale |
| PARK NOVA | D10 | $4,836 | $10,670,380 | 2,207 | New Sale |
| PARK NOVA | D10 | $4,804 | $10,600,730 | 2,207 | New Sale |
| PARK NOVA | D10 | $4,767 | $6,824,705 | 1,432 | New Sale |
Rental Market Snapshot
The rental market recorded 8,125 leases in October 2021, down 1.4% month-on-month. The median monthly rent was $3,200 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,400 |
| 2BR | $3,000 |
| 3BR | $3,800 |
| 4BR | $6,900 |
| 5BR | $7,350 |
| 6BR | $17,300 |
| NA | $3,500 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 181 |
| NON-LANDED HOUSING DEVELOPMENT | 169 |
| THE SAIL @ MARINA BAY | 57 |
| TWIN VEW | 50 |
| CITY SQUARE RESIDENCES | 46 |
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 |
|---|---|---|
| 2021-05 | $1,376 | $3,050 |
| 2021-06 | $1,486 | $3,200 |
| 2021-07 | $1,566 | $3,200 |
| 2021-08 | $1,471 | $3,200 |
| 2021-09 | $1,414 | $3,200 |
| 2021-10 | $1,493 | $3,200 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Trends by Bedroom Type — 2021.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 1,019 units (34.4% of total), while resales made up 1,900 transactions and 39 sub-sales were recorded.
Unit Size Demand: 5BR+: 454 (15.3%) · 4BR: 453 (15.3%) · 1BR: 322 (10.9%) · 3BR: 954 (32.3%) · 2BR: 609 (20.6%) · Studio: 166 (5.6%)
Price Distribution: <$500K: 4 · $500K-1M: 490 · $1M-1.5M: 853 · $1.5M-2M: 617 · $2M-3M: 498 · $3M+: 496
Explore our latest Condos with Best Views in District 28 (Seletar) 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 October 2021:
- Prices are trending upward with median PSF rising 5.6% 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 98%, near historical averages.
Useful resources: How to Check TDSR and MSR Affordability · 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 | $739,000 | -- | -- |
| 1 | $1,061,500 | -- | -- |
| 1BR | -- | $2,400/mo | -- |
| 2 | $1,280,000 | -- | -- |
| 2BR | -- | $3,000/mo | -- |
| 3 | $1,500,000 | -- | -- |
| 3BR | -- | $3,800/mo | -- |
| 4 | $2,400,000 | -- | -- |
| 4BR | -- | $6,900/mo | -- |
| 5 | $4,200,000 | -- | -- |
| 5BR | -- | $7,350/mo | -- |
| 6BR | -- | $17,300/mo | -- |
| NA | -- | $3,500/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Check TDSR and MSR Affordability
- How to Evaluate Mortgage Refinancing
- How to Use the Mortgage Calculator
- CPF Accrued Interest Explained — Impact on Property Decisions
- Singapore Condo Refinancing Guide — When & How to Switch Lenders
- HDB to Condo: The Complete Upgrader's Roadmap
- ABSD Explained: Additional Buyer's Stamp Duty 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: 904 condos with sales data and 1660 with rental data out of 3429 tracked properties for October 2021.