- Total of 9,069 transactions recorded in December 2024 (-13.3% MoM).
- Median sale price per square foot: $1,719, down 29.3% from last month.
- Median monthly rent: $4,300 (-1.1% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 254 sales.
- Highest gross yield: 2.97% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,069 total transactions in December 2024, down 13.3% from the previous month. Sales volume stood at 1,831 units with a median price of $1,719 per square foot, while the rental market saw 7,238 leases at a median rent of $4,300/month. For an overview of the buying process, see our Singapore Condo Mortgage Guide — Fixed vs Floating, SORA & Bank Packages.
Highest-Value Transactions
The top 5 transactions by total price in December 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $40,000,000 | $2,046 | 19,548 | Resale |
| LANDED HOUSING DEVELOPMENT | D13 | $26,588,000 | $2,456 | 10,826 | Resale |
| REBECCA PARK | D10 | $24,700,000 | $2,013 | 12,272 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $21,500,000 | $1,518 | 14,166 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $21,500,000 | $1,518 | 14,166 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,831 transactions in December 2024, representing a decrease of 57.5% month-on-month and up 34.7% year-on-year. The median price per square foot was $1,719 (down 29.3% MoM), while the median transaction price stood at $1,730,000.
Transaction Mix: Resale: 1,366 (74.6%) · New Sale: 355 (19.4%) · Sub Sale: 110 (6%)
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) | 215 | $2,175 | 2,043 | $5,500 | 2.61% |
| RCR (Rest of Central Region) | 573 | $1,934 | 2,380 | $4,425 | 2.55% |
| OCR (Outside Central Region) | 1,043 | $1,613 | 2,815 | $3,800 | 2.97% |
For a deeper comparison, see Novena vs Bishan: Family Heartland Comparison.
Top Districts by Activity
The most active districts by sales volume in December 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 254 | $1,656 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 170 | $1,909 |
| District 24 (Lim Chu Kang, Tengah) | Lim Chu Kang, Tengah | OCR | 143 | $1,646 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 113 | $1,494 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 99 | $1,869 |
Notable Transactions
The highest-value transactions by price per square foot in December 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| PARK NOVA | D10 | $5,522 | $15,988,000 | 2,895 | New Sale |
| RESIDENTIAL APARTMENTS | D12 | $3,966 | $6,920,000 | 1,745 | Resale |
| EDEN PARK | D10 | $3,751 | $12,100,000 | 3,226 | Resale |
| CANNINGHILL PIERS | D6 | $3,551 | $1,720,000 | 484 | New Sale |
| OPERA ESTATE | D15 | $3,541 | $5,938,800 | 1,677 | Resale |
| 19 NASSIM | D10 | $3,530 | $2,850,000 | 807 | New Sale |
| MEYER BLUE | D15 | $3,488 | $5,331,000 | 1,528 | New Sale |
| HILLTOPS | D9 | $3,451 | $5,980,000 | 1,733 | Resale |
| EDEN RESIDENCES CAPITOL | D6 | $3,404 | $19,750,000 | 5,802 | Resale |
| UNION SQUARE RESIDENCES | D1 | $3,379 | $2,473,000 | 732 | New Sale |
Rental Market Snapshot
The rental market recorded 7,238 leases in December 2024, up 17.7% month-on-month. The median monthly rent was $4,300 (down 1.1% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,200 |
| 2BR | $4,000 |
| 3BR | $5,200 |
| 4BR | $8,200 |
| 5BR | $7,800 |
| NA | $5,500 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 129 |
| NON-LANDED HOUSING DEVELOPMENT | 94 |
| PARC ESTA | 48 |
| THE SAIL @ MARINA BAY | 47 |
| MARINA ONE RESIDENCES | 44 |
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 |
|---|---|---|
| 2024-07 | $1,827 | $4,400 |
| 2024-08 | $1,685 | $4,500 |
| 2024-09 | $1,782 | $4,300 |
| 2024-10 | $1,942 | $4,300 |
| 2024-11 | $2,431 | $4,350 |
| 2024-12 | $1,719 | $4,300 |
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 355 units (19.4% of total), while resales made up 1,366 transactions and 110 sub-sales were recorded.
Unit Size Demand: 5BR+: 230 (12.6%) · 4BR: 250 (13.7%) · 2BR: 431 (23.5%) · 3BR: 619 (33.8%) · Studio: 105 (5.7%) · 1BR: 196 (10.7%)
Price Distribution: $500K-1M: 148 · $1M-1.5M: 525 · $1.5M-2M: 458 · $2M-3M: 359 · $3M+: 341
Explore our latest Condos with Best Views in District 3 (Queenstown, Tiong Bahru) for featured developments.
Outlook & What to Watch
Throughout 2024, Singapore's private residential market showed remarkable resilience with stable pricing and healthy transaction volumes despite elevated interest rates.
Key takeaways for December 2024:
- Prices have softened with median PSF falling 29.3% month-on-month.
- Rental rates have eased with median rent down 1.1% 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 35%, near historical averages.
Useful resources: How to Use the Mortgage Calculator · Gross Yield vs Net Yield: Property Returns Explained
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 | $828,000 | -- | -- |
| 1 | $1,169,500 | -- | -- |
| 1BR | -- | $3,200/mo | -- |
| 2 | $1,467,000 | -- | -- |
| 2BR | -- | $4,000/mo | -- |
| 3 | $1,830,000 | -- | -- |
| 3BR | -- | $5,200/mo | -- |
| 4 | $2,766,444 | -- | -- |
| 4BR | -- | $8,200/mo | -- |
| 5 | $4,859,000 | -- | -- |
| 5BR | -- | $7,800/mo | -- |
| NA | -- | $5,500/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 Mortgage Calculator
- How to Evaluate Mortgage Refinancing
- Singapore Condo Mortgage Guide — Fixed vs Floating, SORA & Bank Packages
- How to Reduce Property Tax on Investment Condos
- HDB Upgrader Guide — BTO to Private Condo Step-by-Step
- HDB MOP Condo Upgrade — Timing, Costs & Strategy
- ROI Metrics: Total Return, Break-Even, Future Value
- Property Expense Ratio: Rental Costs and Deductions
- 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: 733 condos with sales data and 1682 with rental data out of 3429 tracked properties for December 2024.