- Total of 8,023 transactions recorded in February 2022 (-27.8% MoM).
- Median sale price per square foot: $1,564, up 5.1% from last month.
- Median monthly rent: $3,400 (+3.0% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 200 sales.
- Highest gross yield: 2.69% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 8,023 total transactions in February 2022, down 27.8% from the previous month. Sales volume stood at 1,672 units with a median price of $1,564 per square foot, while the rental market saw 6,351 leases at a median rent of $3,400/month. For an overview of the buying process, see our PR vs Citizen Stamp Duty Comparison — Full Cost Differential.
Highest-Value Transactions
The top 5 transactions by total price in February 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $34,612,500 | $5,153 | 6,717 | New Sale |
| LANDED HOUSING DEVELOPMENT | D10 | $29,880,000 | $1,974 | 15,137 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $29,880,000 | $1,974 | 15,137 | Resale |
| BAODE BUILDING | D14 | $27,000,000 | $1,572 | 17,179 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $24,800,000 | $2,237 | 11,087 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,672 transactions in February 2022, representing a decrease of 17.6% month-on-month and up 239.1% year-on-year. The median price per square foot was $1,564 (up 5.1% MoM), while the median transaction price stood at $1,603,056.
Transaction Mix: Resale: 1,072 (64.1%) · New Sale: 566 (33.9%) · Sub Sale: 34 (2%)
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) | 241 | $2,310 | 2,026 | $4,500 | 2.21% |
| RCR (Rest of Central Region) | 569 | $1,819 | 2,032 | $3,400 | 2.28% |
| OCR (Outside Central Region) | 862 | $1,259 | 2,293 | $2,900 | 2.69% |
For a deeper comparison, see Top PSF Districts vs Top Yield Districts.
Top Districts by Activity
The most active districts by sales volume in February 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 200 | $1,335 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 167 | $1,805 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 143 | $1,700 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 124 | $1,373 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 109 | $2,446 |
Notable Transactions
The highest-value transactions by price per square foot in February 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $5,153 | $34,612,500 | 6,717 | New Sale |
| PARK NOVA | D10 | $4,708 | $10,388,000 | 2,207 | New Sale |
| SCOTTS SQUARE | D9 | $4,405 | $5,500,000 | 1,249 | Resale |
| 3 CUSCADEN | D10 | $4,241 | $2,784,488 | 657 | New Sale |
| 3 CUSCADEN | D10 | $4,191 | $2,752,028 | 657 | New Sale |
| 3 CUSCADEN | D10 | $3,975 | $2,909,388 | 732 | New Sale |
| KIMSIA PARK | D9 | $3,879 | $6,400,000 | 1,650 | Resale |
| KLIMT CAIRNHILL | D9 | $3,850 | $5,760,000 | 1,496 | New Sale |
| 3 CUSCADEN | D10 | $3,827 | $2,800,868 | 732 | New Sale |
| SCOTTS SQUARE | D9 | $3,757 | $2,345,600 | 624 | Resale |
Rental Market Snapshot
The rental market recorded 6,351 leases in February 2022, down 30.1% month-on-month. The median monthly rent was $3,400 (up 3.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,600 |
| 2BR | $3,200 |
| 3BR | $4,000 |
| 4BR | $6,800 |
| 5BR | $9,900 |
| NA | $3,800 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 128 |
| NON-LANDED HOUSING DEVELOPMENT | 108 |
| THE SAIL @ MARINA BAY | 45 |
| D'LEEDON | 42 |
| DUO RESIDENCES | 39 |
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 |
|---|---|---|
| 2021-09 | $1,414 | $3,200 |
| 2021-10 | $1,493 | $3,200 |
| 2021-11 | $1,634 | $3,200 |
| 2021-12 | $1,517 | $3,200 |
| 2022-01 | $1,488 | $3,300 |
| 2022-02 | $1,564 | $3,400 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Trends by Floor Size — 2025.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 566 units (33.9% of total), while resales made up 1,072 transactions and 34 sub-sales were recorded.
Unit Size Demand: 5BR+: 216 (12.9%) · 4BR: 246 (14.7%) · 2BR: 300 (17.9%) · 3BR: 603 (36.1%) · Studio: 83 (5%) · 1BR: 224 (13.4%)
Price Distribution: $500K-1M: 261 · $1M-1.5M: 483 · $1.5M-2M: 388 · $2M-3M: 278 · $3M+: 262
Explore our latest Top 10 Most Active Rental Condos 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 February 2022:
- Prices are trending upward with median PSF rising 5.1% month-on-month.
- Rents are holding firm with median rent up 3.0% 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 Compare Mortgage Loan Packages · TDSR and MSR: Singapore's Borrowing Limits
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 | $738,000 | -- | -- |
| 1 | $1,022,500 | -- | -- |
| 1BR | -- | $2,600/mo | -- |
| 2 | $1,324,619 | -- | -- |
| 2BR | -- | $3,200/mo | -- |
| 3 | $1,588,000 | -- | -- |
| 3BR | -- | $4,000/mo | -- |
| 4 | $2,524,000 | -- | -- |
| 4BR | -- | $6,800/mo | -- |
| 5 | $4,468,105 | -- | -- |
| 5BR | -- | $9,900/mo | -- |
| NA | -- | $3,800/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 Evaluate Mortgage Refinancing
- How to Check TDSR and MSR Affordability
- PR vs Citizen Stamp Duty Comparison — Full Cost Differential
- EC to Private Condo Upgrade — When & How to Make the Switch
- TDSR & MSR Explained — Loan Limits for Singapore Property Buyers
- CCR, RCR, OCR: Singapore's Market Segments
- Cash-on-Cash Return: Measuring Your Cash Investment
- BSD Explained: Buyer's Stamp Duty Rates in Singapore
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: 685 condos with sales data and 1578 with rental data out of 3429 tracked properties for February 2022.