- Total of 9,251 transactions recorded in October 2022 (-10.3% MoM).
- Median sale price per square foot: $1,381, down 24.6% from last month.
- Median monthly rent: $4,100 (+2.5% MoM).
- Most active district: District 24 (Lim Chu Kang, Tengah) with 441 sales.
- Highest gross yield: 3.18% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,251 total transactions in October 2022, down 10.3% from the previous month. Sales volume stood at 2,056 units with a median price of $1,381 per square foot, while the rental market saw 7,195 leases at a median rent of $4,100/month. For an overview of the buying process, see our Joint Tenancy vs Tenancy-in-Common — Ownership Comparison.
Highest-Value Transactions
The top 5 transactions by total price in October 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $68,000,000 | $6,057 | 11,227 | New Sale |
| LANDED HOUSING DEVELOPMENT | D4 | $32,000,000 | $2,009 | 15,930 | Resale |
| RAFFLES PARK | D11 | $23,500,000 | $2,761 | 8,511 | Resale |
| LANDED HOUSING DEVELOPMENT | D4 | $22,000,000 | $2,396 | 9,182 | Resale |
| LANDED HOUSING DEVELOPMENT | D4 | $21,000,000 | $2,288 | 9,177 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,056 transactions in October 2022, representing a decrease of 19.2% month-on-month and down 30.5% year-on-year. The median price per square foot was $1,381 (down 24.6% MoM), while the median transaction price stood at $1,493,500.
Transaction Mix: Resale: 1,237 (60.2%) · New Sale: 744 (36.2%) · Sub Sale: 75 (3.6%)
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) | 337 | $2,600 | 2,195 | $5,600 | 2.94% |
| RCR (Rest of Central Region) | 440 | $1,773 | 2,521 | $4,100 | 2.64% |
| OCR (Outside Central Region) | 1,279 | $1,328 | 2,479 | $3,600 | 3.18% |
For a deeper comparison, see Bukit Timah vs Holland Village: Which Premium Neighbourhood Offers Better Value?.
Top Districts by Activity
The most active districts by sales volume in October 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 24 (Lim Chu Kang, Tengah) | Lim Chu Kang, Tengah | OCR | 441 | $1,345 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 258 | $1,291 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 164 | $2,796 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 123 | $1,614 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 110 | $1,189 |
Notable Transactions
The highest-value transactions by price per square foot in October 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $6,057 | $68,000,000 | 11,227 | New Sale |
| PARK NOVA | D10 | $4,426 | $9,766,000 | 2,207 | New Sale |
| 3 ORCHARD BY-THE-PARK | D10 | $4,000 | $13,003,000 | 3,251 | Resale |
| WALLICH RESIDENCE | D2 | $3,903 | $7,815,000 | 2,002 | Resale |
| 3 ORCHARD BY-THE-PARK | D10 | $3,888 | $10,045,000 | 2,583 | Resale |
| 3 ORCHARD BY-THE-PARK | D10 | $3,887 | $10,041,000 | 2,583 | Resale |
| 3 ORCHARD BY-THE-PARK | D10 | $3,778 | $12,282,000 | 3,251 | Resale |
| HILLTOPS | D9 | $3,585 | $8,529,000 | 2,379 | Resale |
| WALLICH RESIDENCE | D2 | $3,574 | $6,270,000 | 1,755 | Resale |
| CAPITOL PARK | D11 | $3,497 | $7,800,000 | 2,230 | New Sale |
Rental Market Snapshot
The rental market recorded 7,195 leases in October 2022, down 7.4% month-on-month. The median monthly rent was $4,100 (up 2.5% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,100 |
| 2BR | $3,900 |
| 3BR | $4,800 |
| 4BR | $7,800 |
| 5BR | $8,750 |
| 6BR | $16,250 |
| NA | $4,600 |
| Studio | $7,200 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 163 |
| NON-LANDED HOUSING DEVELOPMENT | 159 |
| PARC ESTA | 117 |
| THE SAIL @ MARINA BAY | 51 |
| MARINA ONE RESIDENCES | 49 |
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 |
|---|---|---|
| 2022-05 | $1,791 | $3,500 |
| 2022-06 | $1,571 | $3,700 |
| 2022-07 | $1,747 | $4,000 |
| 2022-08 | $1,604 | $4,000 |
| 2022-09 | $1,830 | $4,000 |
| 2022-10 | $1,381 | $4,100 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Trends by Bedroom Type — 2022.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 744 units (36.2% of total), while resales made up 1,237 transactions and 75 sub-sales were recorded.
Unit Size Demand: 5BR+: 214 (10.4%) · 3BR: 827 (40.2%) · 4BR: 265 (12.9%) · 1BR: 223 (10.8%) · Studio: 92 (4.5%) · 2BR: 435 (21.2%)
Price Distribution: $500K-1M: 242 · $1M-1.5M: 789 · $1.5M-2M: 448 · $2M-3M: 289 · $3M+: 288
Explore our latest Condos with Best Views in District 4 (Telok Blangah, Harbourfront) 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 October 2022:
- Prices have softened with median PSF falling 24.6% month-on-month.
- Rents are holding firm with median rent up 2.5% 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 96%, near historical averages.
Useful resources: ROI Metrics: Total Return, Break-Even, Future Value
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 | $780,000 | -- | -- |
| 1 | $1,160,000 | -- | -- |
| 1BR | -- | $3,100/mo | -- |
| 2 | $1,265,000 | -- | -- |
| 2BR | -- | $3,900/mo | -- |
| 3 | $1,480,000 | -- | -- |
| 3BR | -- | $4,800/mo | -- |
| 4 | $2,200,000 | -- | -- |
| 4BR | -- | $7,800/mo | -- |
| 5 | $4,719,000 | -- | -- |
| 5BR | -- | $8,750/mo | -- |
| 6BR | -- | $16,250/mo | -- |
| NA | -- | $4,600/mo | -- |
| Studio | -- | $7,200/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Calculate Seller's Stamp Duty (SSD)
- Joint Tenancy vs Tenancy-in-Common — Ownership Comparison
- Qualifying Certificate Guide — Foreign Developer Deadlines & Pricing
- BTO vs Resale HDB vs Condo — Complete Decision Framework
- Conservation Shophouse Investment — Heritage, Scarcity & No ABSD
- Singapore Mortgage Guide: Fixed vs Floating
- Gross Yield vs Net Yield: Property Returns Explained
- ABSD Explained: Additional Buyer's Stamp Duty Rates
- Cash-on-Cash Return: Measuring Your Cash Investment
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: 718 condos with sales data and 1643 with rental data out of 3429 tracked properties for October 2022.