- Total of 8,129 transactions recorded in October 2023 (-3.6% MoM).
- Median sale price per square foot: $1,655, up 3.1% from last month.
- Median monthly rent: $4,500 (-2.2% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 215 sales.
- Highest gross yield: 3.36% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 8,129 total transactions in October 2023, down 3.6% from the previous month. Sales volume stood at 1,576 units with a median price of $1,655 per square foot, while the rental market saw 6,553 leases at a median rent of $4,500/month. For an overview of the buying process, see our Buying Property Through a Trust or Company in Singapore.
Highest-Value Transactions
The top 5 transactions by total price in October 2023:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D21 | $24,800,000 | $1,619 | 15,318 | Resale |
| BISHOPSGATE RESIDENCES | D10 | $22,000,000 | $3,617 | 6,082 | Resale |
| BISHOPSGATE RESIDENCES | D10 | $22,000,000 | $3,617 | 6,082 | Resale |
| CAPITOL PARK | D11 | $18,500,000 | $1,678 | 11,022 | Resale |
| KARTAR APARTMENTS | D11 | $18,000,000 | $2,585 | 6,964 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,576 transactions in October 2023, representing an increase of 4.9% month-on-month and down 23.3% year-on-year. The median price per square foot was $1,655 (up 3.1% MoM), while the median transaction price stood at $1,620,000.
Transaction Mix: Resale: 1,208 (76.6%) · New Sale: 218 (13.8%) · Sub Sale: 150 (9.5%)
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) | 220 | $2,194 | 2,008 | $6,000 | 3.03% |
| RCR (Rest of Central Region) | 455 | $1,879 | 2,239 | $4,500 | 2.63% |
| OCR (Outside Central Region) | 901 | $1,420 | 2,306 | $4,000 | 3.36% |
For a deeper comparison, see URA Master Plan 2025 — Complete Guide to Property Impact.
Top Districts by Activity
The most active districts by sales volume in October 2023:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 215 | $1,501 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 133 | $1,966 |
| District 27 (Yishun, Sembawang) | Yishun, Sembawang | OCR | 110 | $1,278 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 103 | $1,394 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 100 | $1,412 |
Notable Transactions
The highest-value transactions by price per square foot in October 2023:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $4,369 | $7,528,888 | 1,723 | New Sale |
| LANDED HOUSING DEVELOPMENT | D10 | $4,369 | $7,528,888 | 1,723 | New Sale |
| KLIMT CAIRNHILL | D9 | $3,843 | $5,750,000 | 1,496 | New Sale |
| KLIMT CAIRNHILL | D9 | $3,776 | $5,650,000 | 1,496 | New Sale |
| THE AVENIR | D9 | $3,774 | $7,800,000 | 2,067 | Sub Sale |
| KLIMT CAIRNHILL | D9 | $3,736 | $5,590,000 | 1,496 | New Sale |
| PULLMAN RESIDENCES NEWTON | D11 | $3,729 | $1,726,000 | 463 | New Sale |
| BOULEVARD 88 | D10 | $3,660 | $6,500,000 | 1,776 | Sub Sale |
| MIDTOWN MODERN | D7 | $3,650 | $1,493,000 | 409 | New Sale |
| BISHOPSGATE RESIDENCES | D10 | $3,617 | $22,000,000 | 6,082 | Resale |
Rental Market Snapshot
The rental market recorded 6,553 leases in October 2023, down 5.5% month-on-month. The median monthly rent was $4,500 (down 2.2% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,400 |
| 2BR | $4,300 |
| 3BR | $5,500 |
| 4BR | $9,000 |
| 5BR | $8,250 |
| 6BR | $38,000 |
| NA | $4,900 |
| Studio | $7,600 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 140 |
| NON-LANDED HOUSING DEVELOPMENT | 135 |
| NORMANTON PARK | 90 |
| AVENUE SOUTH RESIDENCE | 52 |
| AFFINITY AT SERANGOON | 51 |
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 |
|---|---|---|
| 2023-05 | $1,932 | $4,500 |
| 2023-06 | $1,632 | $4,600 |
| 2023-07 | $2,044 | $4,700 |
| 2023-08 | $1,609 | $4,700 |
| 2023-09 | $1,604 | $4,600 |
| 2023-10 | $1,655 | $4,500 |
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 218 units (13.8% of total), while resales made up 1,208 transactions and 150 sub-sales were recorded.
Unit Size Demand: 5BR+: 170 (10.8%) · 4BR: 257 (16.3%) · 3BR: 557 (35.3%) · 2BR: 298 (18.9%) · 1BR: 205 (13%) · Studio: 89 (5.6%)
Price Distribution: $500K-1M: 160 · $1M-1.5M: 523 · $1.5M-2M: 337 · $2M-3M: 279 · $3M+: 277
Explore our latest Condos with Best Views in District 8 (Little India) for featured developments.
Outlook & What to Watch
The 2023 market saw the impact of the April IRAS ABSD ratesABSD hike for investment properties, cooling speculative demand while owner-occupier buying remained resilient.
Key takeaways for October 2023:
- Prices are trending upward with median PSF rising 3.1% month-on-month.
- Rental rates have eased with median rent down 2.2% 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 54%, near historical averages.
Useful resources: How to Compare Mortgage Loan Packages · BSD Explained: Buyer's Stamp Duty Rates in Singapore
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 | $800,000 | -- | -- |
| 1 | $1,168,000 | -- | -- |
| 1BR | -- | $3,400/mo | -- |
| 2 | $1,375,000 | -- | -- |
| 2BR | -- | $4,300/mo | -- |
| 3 | $1,660,000 | -- | -- |
| 3BR | -- | $5,500/mo | -- |
| 4 | $2,800,000 | -- | -- |
| 4BR | -- | $9,000/mo | -- |
| 5 | $4,635,000 | -- | -- |
| 5BR | -- | $8,250/mo | -- |
| 6BR | -- | $38,000/mo | -- |
| NA | -- | $4,900/mo | -- |
| Studio | -- | $7,600/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 Calculate Seller's Stamp Duty (SSD)
- How to Use the End-to-End Investment Calculator
- Buying Property Through a Trust or Company in Singapore
- How Much Can You Afford? TDSR and MSR Framework
- Digital Conveyancing Portal (DCP) 2026 — What Changes
- DSCR: Debt Service Coverage Ratio for Rental Properties
- BSD Explained: Buyer's Stamp Duty Rates in Singapore
- TDSR and MSR: Singapore's Borrowing Limits
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: 721 condos with sales data and 1576 with rental data out of 3429 tracked properties for October 2023.