- Total of 11,114 transactions recorded in January 2022 (-1.4% MoM).
- Median sale price per square foot: $1,488, down 2.0% from last month.
- Median monthly rent: $3,300 (+3.1% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 275 sales.
- Highest gross yield: 2.67% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 11,114 total transactions in January 2022, down 1.4% from the previous month. Sales volume stood at 2,028 units with a median price of $1,488 per square foot, while the rental market saw 9,086 leases at a median rent of $3,300/month. For an overview of the buying process, see our CPF for Condo Purchase — OA Rules, Limits & Optimisation.
Highest-Value Transactions
The top 5 transactions by total price in January 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| GLORIA MANSION | D5 | $70,300,000 | $1,936 | 36,317 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $32,680,000 | $1,280 | 25,526 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $32,680,000 | $1,280 | 25,526 | Resale |
| CALDECOTT HILL ESTATE | D11 | $24,800,000 | $981 | 25,271 | Resale |
| DUNEARN ESTATE | D11 | $22,500,000 | $2,561 | 8,786 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,028 transactions in January 2022, representing a decrease of 19.7% month-on-month. The median price per square foot was $1,488 (down 2.0% MoM), while the median transaction price stood at $1,650,000.
Transaction Mix: Resale: 1,281 (63.2%) · New Sale: 706 (34.8%) · Sub Sale: 41 (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) | 279 | $2,298 | 2,788 | $4,500 | 2.14% |
| RCR (Rest of Central Region) | 652 | $1,777 | 2,825 | $3,300 | 2.01% |
| OCR (Outside Central Region) | 1,097 | $1,204 | 3,473 | $2,900 | 2.67% |
For a deeper comparison, see Global Property Yield Comparison — Where Singapore Stands.
Top Districts by Activity
The most active districts by sales volume in January 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 275 | $1,317 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 176 | $1,689 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 175 | $1,787 |
| District 28 (Seletar) | Seletar | OCR | 144 | $1,112 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 132 | $1,360 |
Notable Transactions
The highest-value transactions by price per square foot in January 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| PARK NOVA | D10 | $4,748 | $10,477,180 | 2,207 | New Sale |
| BOULEVARD 88 | D10 | $4,501 | $12,500,000 | 2,777 | Sub Sale |
| SCOTTS SQUARE | D9 | $3,831 | $4,700,888 | 1,227 | Resale |
| LLOYD SIXTYFIVE | D9 | $3,802 | $2,292,000 | 603 | Resale |
| HILLTOPS | D9 | $3,628 | $6,600,000 | 1,819 | Resale |
| MIDTOWN MODERN | D7 | $3,558 | $1,455,300 | 409 | New Sale |
| SCOTTS SQUARE | D9 | $3,503 | $2,224,900 | 635 | Resale |
| MIDTOWN BAY | D7 | $3,469 | $2,539,300 | 732 | New Sale |
| KIM LIN PARK | D10 | $3,451 | $12,500,000 | 3,622 | Resale |
| THE AVENIR | D9 | $3,422 | $2,836,000 | 829 | New Sale |
Rental Market Snapshot
The rental market recorded 9,086 leases in January 2022, up 3.9% month-on-month. The median monthly rent was $3,300 (up 3.1% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,500 |
| 2BR | $3,100 |
| 3BR | $3,825 |
| 4BR | $6,318 |
| 5BR | $10,350 |
| 6BR | $7,600 |
| NA | $3,700 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 197 |
| NON-LANDED HOUSING DEVELOPMENT | 187 |
| THE SAIL @ MARINA BAY | 72 |
| MARINA ONE RESIDENCES | 59 |
| REFLECTIONS AT KEPPEL BAY | 50 |
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 |
|---|---|---|
| 2021-08 | $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 |
| 2022-01 | $1,488 | $3,300 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Trends by Bedroom Type — 2023.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 706 units (34.8% of total), while resales made up 1,281 transactions and 41 sub-sales were recorded.
Unit Size Demand: 5BR+: 349 (17.2%) · 4BR: 291 (14.3%) · 2BR: 362 (17.9%) · 3BR: 684 (33.7%) · 1BR: 240 (11.8%) · Studio: 102 (5%)
Price Distribution: $500K-1M: 319 · $1M-1.5M: 569 · $1.5M-2M: 407 · $2M-3M: 343 · $3M+: 390
Explore our latest Waterfront Condos: Price and Rental Analysis 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 January 2022:
- Prices have softened with median PSF falling 2.0% month-on-month.
- Rents are holding firm with median rent up 3.1% 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 91%, near historical averages.
Useful resources: How to Use the End-to-End Investment Calculator · What Is PSF? Price Per Square Foot 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 | $697,000 | -- | -- |
| 1 | $1,002,425 | -- | -- |
| 1BR | -- | $2,500/mo | -- |
| 2 | $1,301,700 | -- | -- |
| 2BR | -- | $3,100/mo | -- |
| 3 | $1,576,500 | -- | -- |
| 3BR | -- | $3,825/mo | -- |
| 4 | $2,495,000 | -- | -- |
| 4BR | -- | $6,318/mo | -- |
| 5 | $4,381,000 | -- | -- |
| 5BR | -- | $10,350/mo | -- |
| 6BR | -- | $7,600/mo | -- |
| NA | -- | $3,700/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
- How to Evaluate Mortgage Refinancing
- How to Calculate Seller's Stamp Duty (SSD)
- CPF for Condo Purchase — OA Rules, Limits & Optimisation
- How Much Can You Afford? TDSR and MSR Framework
- 99-Year Leasehold Condo Guide — Lease Decay, CPF Limits & Exit Strategy
- CCR, RCR, OCR: Singapore's Market Segments
- What Is PSF? Price Per Square Foot Explained
- 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: 738 condos with sales data and 1766 with rental data out of 3429 tracked properties for January 2022.