Singapore’s private home market has three main areas: the Core Central Region (CCR), which includes key city spots like Marina Bay and Orchard. Rest of Central Region (RCR) (city-fringe neighborhoods), and the Outside Central Region (OCR) (suburban estates). Each commands very different price levels and lifestyles.
From late 2024 to early 2025, URA data shows that private home prices went up by 0.8% in the first quarter of 2025. This rise was mainly due to projects in the Rest of Central Region, which saw a 1.7% increase. Strong sales of new launches also contributed to this growth.
By contrast, OCR price gains have moderated (just +0.3% in 1Q2025). (URA data)
For the full year 2024, non-landed home prices climbed about +3–4% overall. Over 2024, the faster gains were in RCR (+5.8% for the year) versus CCR (+4.5%) and OCR (+3.7%). (URA data)
Rental indices have been steady or slightly increased. The URA reported a 0.4% rise in the private rental index for the first quarter of 2025. This follows a small decline compared to the same time last year. Vacancy rates remain moderate, and rental yields (gross) average around 3–4% across districts.
At the high end, District 1 (Downtown Core/CBD) homes are ultra-scarce and ultra-expensive, with condo prices averaging over S$3,000 per square foot (PSF). This shows the limited availability of skyline homes, like Marina Bay Residences and The Sail, and the high number of wealthy buyers. District 1 offers world-class shopping, dining and waterfront views (Marina Bay Sands, Merlion, Esplanade, etc.).
Likewise, District 9 (Orchard/River Valley) is within the Core Central Region (CCR) and is recognized for luxury living near Orchard Road. It consistently offers strong capital appreciation and returns. High-end condos like The Avenir and Cuscaden View in District 9 often have prices between approximately $2,500 and $3,500 per square foot, with gross yields around 3.1% (Orchard/River Valley average).
The lifestyle here is considered “premier city living,” featuring major malls, luxury hotels, fine dining, and close access to the Botanic Gardens.
District 10 (Tanglin/Holland/Bukit Timah) in the RCR is another top-tier area. It boasts freehold condos and landed estates near parks (Botanic Gardens) and top schools (Raffles Girls’, Hwa Chong, etc.). Prices here are also very high (often above $2,000 PSF) and rental yields average around 3.2%. The vibe is affluent and tranquil – leafy neighbourhoods (Holland Village), embassy belt boutiques, and family amenities. (Data)
District 15, located in the East Coast/Katong area and partially in the Rest of Central Region, includes the beachside neighborhoods of Katong, Joo Chiat, and Marine Parade. This area offers a special mix of cultural heritage and dining experiences, featuring Peranakan shophouses and cafes in Joo Chiat.
Additionally, it provides access to beaches and leisure activities at East Coast Park. Popular newer condos (Amber Road, Meyer Road) have transacted on the order of S$2,066–2,751 PSF. Rents here tend to yield about 3.3%. District 15 is attractive to young families for its coasts, parks and schools (e.g. CHIJ Katong, Temasek Pri.).
In contrast, District 19 (Hougang/Punggol/Sengkang) within the OCR is quite suburban and typically more budget-friendly. Recent projects in this region are priced around $1,300 to $1,800 per square foot (for example, The Vales at $1,501 and Affinity@Serangoon at $1,775), about half the cost of CCR properties.
This district is favored by those upgrading from HDB flats and families looking for more room. It offers amenities such as waterfront parks like Punggol Waterway, new schools, and future developments like Punggol Digital District. Gross rental yields in Hougang/Punggol average about 3.6%, among the highest in Singapore due to relatively low prices and steady rental demand.
Several suburban districts are “up-and-coming” as more affordable options. For example, District 22 (Ulu Pandan/Jurong) has many new condos below $1,800 PSF. Also, District 25 (Woodlands/Admiralty) and District 24 (Tengah) are being developed with planned amenities.
In general, OCR cities offer lower entry prices (often 30–50% cheaper PSF than CCR) and good transport links (MRT lines extending), making them attractive to first-time buyers and investors targeting capital appreciation.
Key Districts: Prices, Yields and Lifestyle
| District | Region | Resale PSF (approx.) | Gross Rental Yield | Lifestyle & Amenities |
| 1 (Marina / Raffles) | CCR | >~$3,000 (luxury) | ~3.1% | CBD, Marina Bay Sands, waterfront promenades, high-end dining, luxury condos. |
| 9 (Orchard / River Valley) | CCR | ~$2,500–3,000 (high-end) | ~3.1% | Orchard Rd malls, fine dining, luxury apartments, major offices nearby. |
| 10 (Tanglin / Holland) | RCR | ~$2,000+ (premium freehold) | ~3.2% | Botanic Gardens, embassy row, Holland Village; top schools (RGS, ACS, Nanyang Girls’). |
| 19 (Hougang / Punggol) | OCR | $1,351–1,775 | ~3.6% | Punggol waterfront, new town amenities (mall, LRT, schools), relatively affordable. |
Table: Typical private-condo prices and rental yields (gross) by example district. CCR districts (1, 9) command the highest PSF, while OCR districts (19) are the lowest. Gross yields tend to be ~3–4% depending on the district.
Singapore Postal Districts
Market Trends (2024–2025)
Recent figures indicate that private home prices in Singapore continue to rise, though at a more moderate rate. According to URA, the average resale prices for all non-landed homes increased by 2.0% from the third quarter to the fourth quarter of 2024, and then by another 1.6% moving into the first quarter of 2025. This growth, however, varies by region: in Q4 2024, CCR resale prices rose by approximately 1.7% (reaching around $2,215 per square foot), while the RCR saw no change, and the OCR gained 2.4%.
In Q1 2025, CCR prices stayed nearly steady with a slight rise of +0.3%, reaching roughly $2,228 PSF. Meanwhile, RCR saw the biggest increase at +1.7%, hitting $1,896 PSF, and OCR also experienced a growth of +1.3%, reaching $1,545 PSF. This indicates stronger growth in city-fringe and suburban areas compared to the prime core. According to URA’s official index, CCR prices grew modestly by +0.8% from the previous quarter, while RCR was up by +1.7%, and OCR by +0.3%. For additional information, visit here.
As prices have gone up, the number of transactions has stayed strong. Developers saw strong sales of new units in 2024 and early 2025, with 3,375 units sold in the first quarter of 2025 alone. The sales leaned more towards launches in locations like Lentor Central Residences and One Marina Gardens, with median prices of approximately $2,213 and $2,948 PSF. The resale market has also increased, with a nearly 22% year-on-year rise in resale sales during the first nine months of 2024.
On the supply side, more than 55,000 new condos, including Executive Condominiums (ECs), are expected to be finished by 2026, according to URA data. To address demand, future land sales have been increased. This strong pipeline, together with high mortgage rates and cooling measures like TDSR and ABSD, is anticipated to help stabilize prices in the future.
Still, in Singapore’s mature market, price swings have been measured: even CCR prices are only a few percent above year-ago levels, and apartment rents have been broadly stable (URA reports a +0.4% rental index uptick in 1Q2025).
Rental Market and Yields
Rental conditions are relatively balanced. After a year of slight declines, rents are stabilizing. URA shows private non-landed rents were broadly flat in late 2024 and have edged up modestly into 2025 (CCR +0.4%, RCR +0.4%, OCR +0.7% in 1Q2025).
Vacancy rates are low (well under 5% in most market segments). According to independent data, gross rental yields (annual rent ÷ purchase price) average about 3.3% island-wide, but vary by district. For example, in City-fringe District 19 (Hougang/Punggol) yields are highest (~3.56% avg.), reflecting lower prices. Mature central districts yield less: Orchard/River Valley around 3.1%, Tanglin/Holland ~3.2%. (These figures are gross yields before costs; net yields are ~1–2% lower.)
Typically, long-term investors and those upgrading HDBs look for value in OCR and RCR neighborhoods, attracted by higher yields and potential for new stock growth. Meanwhile, foreign buyers and luxury purchasers are more prevalent in the CCR, where yields tend to be lower.
Outlook: Affordability and Emerging Areas
From an investor/buyer standpoint, the most affordable areas are in the Outer region. Beyond District 19, areas like District 23/24 (Hillview/Tengah) and District 25 (Woodlands) have many new condos in the $1,300–1,800 PSF range. These are being promoted for their transport improvements (new MRT lines) and government projects (e.g. Jurong Lake District as a second CBD, Tengah smart town).
District 15/16 (East Coast Bedok) and District 18 (Tampines/Pasir Ris) feature mid-$1,800s per square foot, making them appealing to families moving up from HDB. Notable emerging areas include Punggol, known for its new digital district and polyclinic, and Woodlands North, the upcoming Thomson-East Coast Line terminus. These areas might see faster price increases. In contrast, the Core Central Region remains preferred for high-value properties, with prices already at a premium and supply limited.
Overall, Singapore’s property market as of 2025 is characterized by gentle price growth and healthy demand in both new and resale markets. CCR homes remain very expensive (>$3,000 PSF in District 1) and serve as prestige investments, while RCR locations like Tanglin, Katong and Clementi command high but somewhat lower PSFs (around $2,000+) and draw families.
OCR estates such as Punggol, Sengkang and Woodlands offer relatively cheaper entry points and higher yields, making them popular with domestic upgraders and yield-seeking investors.
Consult IQrate singapore mortgage broker to help you calculate your home loan eligibility for all property types, including HDB, EC, and private condos. Would you like to determine your home loan affordability before starting the process of sourcing and confirming your property purchase?