- Total of 10,318 transactions recorded in September 2022 (-5.3% MoM).
- Median sale price per square foot: $1,830, up 14.1% from last month.
- Median monthly rent: $4,000 (+0.0% MoM).
- Most active district: District 26 (Upper Thomson, Springleaf) with 521 sales.
- Highest gross yield: 2.82% in the CCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 10,318 total transactions in September 2022, down 5.3% from the previous month. Sales volume stood at 2,544 units with a median price of $1,830 per square foot, while the rental market saw 7,774 leases at a median rent of $4,000/month. For an overview of the buying process, see our Jurong Region Line Guide — Property Hotspots in Singapore's Second CBD.
Highest-Value Transactions
The top 5 transactions by total price in September 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $47,000,000 | $2,162 | 21,740 | Resale |
| LES MAISONS NASSIM | D10 | $46,000,000 | $5,296 | 8,686 | New Sale |
| LANDED HOUSING DEVELOPMENT | D10 | $34,000,000 | $2,229 | 15,256 | Resale |
| BINJAI PARK | D21 | $28,200,000 | $1,818 | 15,515 | Resale |
| SENTOSA COVE | D4 | $22,800,000 | $2,020 | 11,285 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,544 transactions in September 2022, representing an increase of 30.3% month-on-month and down 25.4% year-on-year. The median price per square foot was $1,830 (up 14.1% MoM), while the median transaction price stood at $1,629,300.
Transaction Mix: New Sale: 955 (37.5%) · Resale: 1,521 (59.8%) · Sub Sale: 68 (2.7%)
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) | 413 | $2,524 | 2,423 | $5,600 | 2.82% |
| RCR (Rest of Central Region) | 531 | $1,780 | 2,637 | $4,000 | 2.66% |
| OCR (Outside Central Region) | 1,600 | $1,586 | 2,714 | $3,500 | 2.78% |
For a deeper comparison, see Orchard Road vs River Valley: Central Living Comparison.
Top Districts by Activity
The most active districts by sales volume in September 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 26 (Upper Thomson, Springleaf) | Upper Thomson, Springleaf | OCR | 521 | $2,098 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 272 | $1,336 |
| District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive) | Bedok, Upper East Coast, Eastwood, Kew Drive | OCR | 204 | $1,989 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 198 | $2,672 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 131 | $1,801 |
Notable Transactions
The highest-value transactions by price per square foot in September 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $5,296 | $46,000,000 | 8,686 | New Sale |
| THE MARQ ON PATERSON HILL | D9 | $4,580 | $14,000,000 | 3,057 | Resale |
| THE MARQ ON PATERSON HILL | D9 | $4,331 | $13,380,000 | 3,089 | Resale |
| HILLTOPS | D9 | $4,219 | $12,126,000 | 2,874 | Resale |
| 3 ORCHARD BY-THE-PARK | D10 | $4,100 | $14,388,000 | 3,509 | Resale |
| SCOTTS SQUARE | D9 | $3,883 | $2,424,200 | 624 | Resale |
| EDEN RESIDENCES CAPITOL | D6 | $3,882 | $13,080,000 | 3,369 | Resale |
| EDEN RESIDENCES CAPITOL | D6 | $3,843 | $15,800,000 | 4,112 | Resale |
| PERFECT TEN | D10 | $3,585 | $4,399,590 | 1,227 | New Sale |
| HILLTOPS | D9 | $3,585 | $8,566,000 | 2,390 | Resale |
Rental Market Snapshot
The rental market recorded 7,774 leases in September 2022, down 13.0% month-on-month. The median monthly rent was $4,000 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,000 |
| 2BR | $3,800 |
| 3BR | $4,800 |
| 4BR | $8,300 |
| 5BR | $11,000 |
| 6BR | $10,500 |
| NA | $4,875 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 186 |
| NON-LANDED HOUSING DEVELOPMENT | 175 |
| MARINA ONE RESIDENCES | 59 |
| STIRLING RESIDENCES | 52 |
| PARC ESTA | 52 |
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 |
|---|---|---|
| 2022-04 | $1,527 | $3,500 |
| 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 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Price Distribution — 2025.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 955 units (37.5% of total), while resales made up 1,521 transactions and 68 sub-sales were recorded.
Unit Size Demand: 5BR+: 261 (10.3%) · 4BR: 307 (12.1%) · 3BR: 844 (33.2%) · 2BR: 558 (21.9%) · 1BR: 440 (17.3%) · Studio: 134 (5.3%)
Price Distribution: $500K-1M: 296 · $1M-1.5M: 739 · $1.5M-2M: 671 · $2M-3M: 451 · $3M+: 387
Explore our latest Condos with Best Views in District 8 (Little India) 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 September 2022:
- Prices are trending upward with median PSF rising 14.1% 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 59%, near historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · 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 | $789,444 | -- | -- |
| 1 | $1,313,000 | -- | -- |
| 1BR | -- | $3,000/mo | -- |
| 2 | $1,550,670 | -- | -- |
| 2BR | -- | $3,800/mo | -- |
| 3 | $1,761,500 | -- | -- |
| 3BR | -- | $4,800/mo | -- |
| 4 | $2,700,000 | -- | -- |
| 4BR | -- | $8,300/mo | -- |
| 5 | $4,550,000 | -- | -- |
| 5BR | -- | $11,000/mo | -- |
| 6BR | -- | $10,500/mo | -- |
| NA | -- | $4,875/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Evaluate Mortgage Refinancing
- Jurong Region Line Guide — Property Hotspots in Singapore's Second CBD
- HDB Upgrader Financial Planning: From HDB to Condo
- 99-Year Leasehold Condo Guide — Lease Decay, CPF Limits & Exit Strategy
- CPF Nomination for Property Owners — Why Your Will Isn't Enough
- Buying Property for Your Children — Trusts, ABSD & Estate Planning
- DSCR: Debt Service Coverage Ratio for Rental Properties
- ROI Metrics: Total Return, Break-Even, Future Value
- ABSD Explained: Additional Buyer's Stamp Duty 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: 788 condos with sales data and 1706 with rental data out of 3429 tracked properties for September 2022.