- Total of 11,272 transactions recorded in December 2021 (+2.9% MoM).
- Median sale price per square foot: $1,517, down 7.1% from last month.
- Median monthly rent: $3,200 (+0.0% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 371 sales.
- Highest gross yield: 2.66% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 11,272 total transactions in December 2021, up 2.9% from the previous month. Sales volume stood at 2,526 units with a median price of $1,517 per square foot, while the rental market saw 8,746 leases at a median rent of $3,200/month. For an overview of the buying process, see our Smart Home Condos — Technology Features in Singapore's Newest Developments.
Highest-Value Transactions
The top 5 transactions by total price in December 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D11 | $70,000,000 | $1,611 | 43,457 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $70,000,000 | $1,611 | 43,457 | Resale |
| LANDED HOUSING DEVELOPMENT | D21 | $48,800,000 | $1,532 | 31,862 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $43,180,000 | $2,000 | 21,587 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $43,180,000 | $2,000 | 21,587 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,526 transactions in December 2021, representing a decrease of 26.7% month-on-month. The median price per square foot was $1,517 (down 7.1% MoM), while the median transaction price stood at $1,535,000.
Transaction Mix: Resale: 1,755 (69.5%) · New Sale: 708 (28%) · Sub Sale: 63 (2.5%)
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) | 391 | $2,251 | 2,530 | $4,300 | 2.08% |
| RCR (Rest of Central Region) | 831 | $1,745 | 2,805 | $3,300 | 2.31% |
| OCR (Outside Central Region) | 1,304 | $1,229 | 3,411 | $2,800 | 2.66% |
For a deeper comparison, see SE Asia Property Investment — Singapore vs Bangkok vs KL vs Jakarta.
Top Districts by Activity
The most active districts by sales volume in December 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 371 | $1,257 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 211 | $1,615 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 202 | $2,405 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 192 | $1,716 |
| District 14 (Geylang, Eunos) | Geylang, Eunos | RCR | 174 | $1,782 |
Notable Transactions
The highest-value transactions by price per square foot in December 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $5,786 | $35,000,000 | 6,049 | New Sale |
| LES MAISONS NASSIM | D10 | $5,672 | $37,000,000 | 6,523 | New Sale |
| PARK NOVA | D10 | $4,749 | $10,479,000 | 2,207 | New Sale |
| TWENTYONE ANGULLIA PARK | D9 | $4,485 | $10,138,000 | 2,260 | Resale |
| KLIMT CAIRNHILL | D9 | $4,010 | $6,000,000 | 1,496 | New Sale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $3,705 | $10,488,000 | 2,831 | Resale |
| WALLICH RESIDENCE | D2 | $3,608 | $2,330,000 | 646 | Resale |
| ONE TREE HILL COLLECTION | D10 | $3,604 | $8,380,000 | 2,325 | New Sale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $3,599 | $11,001,000 | 3,057 | Resale |
| PERFECT TEN | D10 | $3,504 | $2,640,050 | 753 | New Sale |
Rental Market Snapshot
The rental market recorded 8,746 leases in December 2021, up 16.4% month-on-month. The median monthly rent was $3,200 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,450 |
| 2BR | $3,000 |
| 3BR | $3,800 |
| 4BR | $6,400 |
| 5BR | $6,400 |
| NA | $3,600 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 166 |
| NON-LANDED HOUSING DEVELOPMENT | 110 |
| THE SAIL @ MARINA BAY | 77 |
| DUO RESIDENCES | 49 |
| MARINA ONE RESIDENCES | 45 |
Planning to rent? Check out our Buy vs Rent: Finding Your Break-Even Point.
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 |
|---|---|---|
| 2021-07 | $1,566 | $3,200 |
| 2021-08 | $1,471 | $3,200 |
| 2021-09 | $1,414 | $3,200 |
| 2021-10 | $1,493 | $3,200 |
| 2021-11 | $1,634 | $3,200 |
| 2021-12 | $1,517 | $3,200 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Price Distribution — 2026.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 708 units (28% of total), while resales made up 1,755 transactions and 63 sub-sales were recorded.
Unit Size Demand: 5BR+: 348 (13.8%) · 4BR: 378 (15%) · 3BR: 802 (31.7%) · Studio: 156 (6.2%) · 2BR: 539 (21.3%) · 1BR: 303 (12%)
Price Distribution: $500K-1M: 452 · $1M-1.5M: 771 · $1.5M-2M: 510 · $2M-3M: 392 · $3M+: 401
Explore our latest Top 10 Condos by Price Appreciation 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 December 2021:
- Prices have softened with median PSF falling 7.1% 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 83%, near historical averages.
Useful resources: How to Use the End-to-End Investment Calculator · 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 | $731,500 | -- | -- |
| 1 | $1,000,000 | -- | -- |
| 1BR | -- | $2,450/mo | -- |
| 2 | $1,291,000 | -- | -- |
| 2BR | -- | $3,000/mo | -- |
| 3 | $1,510,000 | -- | -- |
| 3BR | -- | $3,800/mo | -- |
| 4 | $2,331,500 | -- | -- |
| 4BR | -- | $6,400/mo | -- |
| 5 | $4,250,000 | -- | -- |
| 5BR | -- | $6,400/mo | -- |
| NA | -- | $3,600/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Use the End-to-End Investment Calculator
- Smart Home Condos — Technology Features in Singapore's Newest Developments
- Freehold vs Leasehold — Detailed Analysis for Singapore Buyers
- Singapore Rental Market 2026 Outlook
- Buying Property Through a Trust or Company in Singapore
- Expat Relocation Guide — Housing, Schools & Neighbourhoods
- Singapore Cooling Measures: History and Current Rates
- BSD Explained: Buyer's Stamp Duty Rates in Singapore
- Gross Yield vs Net Yield: Property Returns Explained
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: 902 condos with sales data and 1757 with rental data out of 3429 tracked properties for December 2021.