- Total of 9,216 transactions recorded in January 2024 (+11.9% MoM).
- Median sale price per square foot: $1,585, down 3.8% from last month.
- Median monthly rent: $4,450 (-1.1% MoM).
- Most active district: District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) with 415 sales.
- Highest gross yield: 3.08% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,216 total transactions in January 2024, up 11.9% from the previous month. Sales volume stood at 1,750 units with a median price of $1,585 per square foot, while the rental market saw 7,466 leases at a median rent of $4,450/month. For an overview of the buying process, see our SSD Extended to 4 Years (July 2025) — Impact Analysis.
Highest-Value Transactions
The top 5 transactions by total price in January 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $26,500,000 | $2,059 | 12,870 | Resale |
| DUNEARN ESTATE | D11 | $17,500,000 | $3,491 | 5,013 | Resale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $16,500,000 | $5,398 | 3,057 | Resale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $16,500,000 | $5,398 | 3,057 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $15,200,000 | $2,303 | 6,599 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,750 transactions in January 2024, representing an increase of 28.8% month-on-month and up 38.4% year-on-year. The median price per square foot was $1,585 (down 3.8% MoM), while the median transaction price stood at $1,682,750.
Transaction Mix: Resale: 1,068 (61%) · New Sale: 558 (31.9%) · Sub Sale: 124 (7.1%)
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) | 186 | $2,151 | 2,099 | $6,000 | 2.78% |
| RCR (Rest of Central Region) | 424 | $2,030 | 2,465 | $4,500 | 2.75% |
| OCR (Outside Central Region) | 1,140 | $1,512 | 2,902 | $3,900 | 3.08% |
For a deeper comparison, see CCR vs RCR vs OCR: Price, Rent, and Yield.
Top Districts by Activity
The most active districts by sales volume in January 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 415 | $1,532 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 214 | $1,452 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 111 | $1,734 |
| District 27 (Yishun, Sembawang) | Yishun, Sembawang | OCR | 87 | $1,288 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 84 | $1,388 |
Notable Transactions
The highest-value transactions by price per square foot in January 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $5,398 | $16,500,000 | 3,057 | Resale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $5,398 | $16,500,000 | 3,057 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $4,451 | $6,080,000 | 1,366 | Resale |
| MIDTOWN BAY | D7 | $4,187 | $2,028,000 | 484 | New Sale |
| 19 NASSIM | D10 | $3,819 | $5,632,000 | 1,475 | New Sale |
| PERFECT TEN | D10 | $3,589 | $2,859,000 | 797 | New Sale |
| WATTEN HOUSE | D11 | $3,586 | $12,236,000 | 3,412 | New Sale |
| ORCHID VILLAGE | D11 | $3,572 | $13,100,000 | 3,667 | Resale |
| 19 NASSIM | D10 | $3,503 | $4,939,050 | 1,410 | New Sale |
| BLAIR PLAIN CONSERVATION AREA | D2 | $3,497 | $4,950,000 | 1,415 | Resale |
Rental Market Snapshot
The rental market recorded 7,466 leases in January 2024, up 8.6% month-on-month. The median monthly rent was $4,450 (down 1.1% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,200 |
| 2BR | $4,100 |
| 3BR | $5,200 |
| 4BR | $8,100 |
| 5BR | $11,500 |
| 6BR | $23,000 |
| NA | $4,700 |
| Studio | $4,400 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 187 |
| NORMANTON PARK | 179 |
| NON-LANDED HOUSING DEVELOPMENT | 131 |
| TREASURE AT TAMPINES | 85 |
| PARC CLEMATIS | 83 |
Planning to rent? Check out our How to Visualize Lease Decay in Singapore.
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 |
|---|---|---|
| 2023-08 | $1,609 | $4,700 |
| 2023-09 | $1,604 | $4,600 |
| 2023-10 | $1,655 | $4,500 |
| 2023-11 | $1,972 | $4,500 |
| 2023-12 | $1,647 | $4,500 |
| 2024-01 | $1,585 | $4,450 |
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 558 units (31.9% of total), while resales made up 1,068 transactions and 124 sub-sales were recorded.
Unit Size Demand: 5BR+: 178 (10.2%) · 4BR: 228 (13%) · 3BR: 728 (41.6%) · 2BR: 305 (17.4%) · 1BR: 234 (13.4%) · Studio: 77 (4.4%)
Price Distribution: $500K-1M: 170 · $1M-1.5M: 500 · $1.5M-2M: 519 · $2M-3M: 316 · $3M+: 245
Explore our latest Condos with Best Views in District 27 (Yishun, Sembawang) 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 January 2024:
- Prices have softened with median PSF falling 3.8% 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 42%, near historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · Capital Gains and Appreciation: How Values Grow
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 | $818,000 | -- | -- |
| 1 | $1,270,444 | -- | -- |
| 1BR | -- | $3,200/mo | -- |
| 2 | $1,459,000 | -- | -- |
| 2BR | -- | $4,100/mo | -- |
| 3 | $1,689,444 | -- | -- |
| 3BR | -- | $5,200/mo | -- |
| 4 | $2,490,000 | -- | -- |
| 4BR | -- | $8,100/mo | -- |
| 5 | $4,600,000 | -- | -- |
| 5BR | -- | $11,500/mo | -- |
| 6BR | -- | $23,000/mo | -- |
| NA | -- | $4,700/mo | -- |
| Studio | -- | $4,400/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Evaluate Mortgage Refinancing
- How to Calculate Stamp Duty (BSD + ABSD)
- How to Use the End-to-End Investment Calculator
- SSD Extended to 4 Years (July 2025) — Impact Analysis
- How Much Can You Afford? TDSR and MSR Framework
- Buying Property Through a Trust or Company in Singapore
- Gross Yield vs Net Yield: Property Returns Explained
- IRR: Internal Rate of Return for Property Investors
- DSCR: Debt Service Coverage Ratio for Rental Properties
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: 657 condos with sales data and 1651 with rental data out of 3429 tracked properties for January 2024.