- Total of 14,008 transactions recorded in July 2021 (+25.2% MoM).
- Median sale price per square foot: $1,566, up 5.4% from last month.
- Median monthly rent: $3,200 (+0.0% MoM).
- Most active district: District 18 (Tampines, Pasir Ris) with 691 sales.
- Highest gross yield: 2.66% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 14,008 total transactions in July 2021, up 25.2% from the previous month. Sales volume stood at 3,885 units with a median price of $1,566 per square foot, while the rental market saw 10,123 leases at a median rent of $3,200/month. For an overview of the buying process, see our Defect Liability Period Explained — Your Rights as a Buyer.
Highest-Value Transactions
The top 5 transactions by total price in July 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| QUEEN ASTRID PARK | D10 | $86,000,000 | $2,704 | 31,806 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $65,000,000 | $2,208 | 29,435 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $52,800,000 | $1,706 | 30,954 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $30,000,000 | $2,045 | 14,667 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $24,500,000 | $1,395 | 17,558 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 3,885 transactions in July 2021, representing an increase of 47.2% month-on-month. The median price per square foot was $1,566 (up 5.4% MoM), while the median transaction price stood at $1,449,000.
Transaction Mix: Resale: 2,120 (54.6%) · New Sale: 1,717 (44.2%) · Sub Sale: 48 (1.2%)
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) | 453 | $2,105 | 3,032 | $4,600 | 2.32% |
| RCR (Rest of Central Region) | 1,118 | $1,706 | 3,291 | $3,300 | 2.32% |
| OCR (Outside Central Region) | 2,314 | $1,383 | 3,800 | $2,800 | 2.66% |
For a deeper comparison, see Rental Yield by District: Best Returns.
Top Districts by Activity
The most active districts by sales volume in July 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 691 | $1,513 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 527 | $1,260 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 323 | $1,731 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 284 | $1,595 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 236 | $2,202 |
Notable Transactions
The highest-value transactions by price per square foot in July 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| PARK NOVA | D10 | $4,789 | $13,918,000 | 2,906 | New Sale |
| LE NOUVEL ARDMORE | D10 | $4,559 | $18,500,000 | 4,058 | Resale |
| SCULPTURA ARDMORE | D10 | $4,445 | $13,111,000 | 2,949 | Resale |
| 3 CUSCADEN | D10 | $4,227 | $3,230,608 | 764 | New Sale |
| NEW FUTURA | D9 | $3,956 | $8,900,000 | 2,250 | Resale |
| CAIRNHILL CONSERVATION AREA | D9 | $3,879 | $10,000,000 | 2,578 | Resale |
| BOULEVARD 88 | D10 | $3,832 | $5,032,000 | 1,313 | New Sale |
| BOULEVARD 88 | D10 | $3,776 | $6,706,500 | 1,776 | New Sale |
| SCOTTS SQUARE | D9 | $3,748 | $4,680,000 | 1,249 | Resale |
| BOULEVARD 88 | D10 | $3,738 | $6,638,500 | 1,776 | New Sale |
Rental Market Snapshot
The rental market recorded 10,123 leases in July 2021, up 18.4% month-on-month. The median monthly rent was $3,200 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,350 |
| 2BR | $2,900 |
| 3BR | $3,700 |
| 4BR | $6,700 |
| 5BR | $8,500 |
| 6BR | $16,750 |
| NA | $4,200 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 277 |
| NON-LANDED HOUSING DEVELOPMENT | 199 |
| D'LEEDON | 75 |
| THE SAIL @ MARINA BAY | 75 |
| LAKE GRANDE | 63 |
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 |
|---|---|---|
| 2021-02 | $1,356 | $3,000 |
| 2021-03 | $1,548 | $3,000 |
| 2021-04 | $1,528 | $3,100 |
| 2021-05 | $1,376 | $3,050 |
| 2021-06 | $1,486 | $3,200 |
| 2021-07 | $1,566 | $3,200 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Trends by Floor Size — 2021.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 1,717 units (44.2% of total), while resales made up 2,120 transactions and 48 sub-sales were recorded.
Unit Size Demand: 5BR+: 524 (13.5%) · 4BR: 470 (12.1%) · 3BR: 1,170 (30.1%) · 2BR: 963 (24.8%) · Studio: 179 (4.6%) · 1BR: 579 (14.9%)
Price Distribution: <$500K: 1 · $500K-1M: 700 · $1M-1.5M: 1,339 · $1.5M-2M: 784 · $2M-3M: 552 · $3M+: 509
Explore our latest Dual-Key Condos in Singapore: Investment and Flexibility 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 July 2021:
- Prices are trending upward with median PSF rising 5.4% 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 52%, near historical averages.
Useful resources: How to Compare Mortgage Loan Packages · Cash-on-Cash Return: Measuring Your Cash Investment
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 | $745,000 | -- | -- |
| 1 | $1,032,000 | -- | -- |
| 1BR | -- | $2,350/mo | -- |
| 2 | $1,273,000 | -- | -- |
| 2BR | -- | $2,900/mo | -- |
| 3 | $1,553,444 | -- | -- |
| 3BR | -- | $3,700/mo | -- |
| 4 | $2,350,000 | -- | -- |
| 4BR | -- | $6,700/mo | -- |
| 5 | $3,900,000 | -- | -- |
| 5BR | -- | $8,500/mo | -- |
| 6BR | -- | $16,750/mo | -- |
| NA | -- | $4,200/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
- Defect Liability Period Explained — Your Rights as a Buyer
- Singapore Mortgage Guide: Fixed vs Floating
- Buying Property in Trust for Your Child — Legal Risks & ABSD
- Buying a Condo as a Permanent Resident in Singapore
- MCST Rights Guide — What Every Subsidiary Proprietor Should Know
- IRR: Internal Rate of Return for Property Investors
- TDSR and MSR: Singapore's Borrowing Limits
- CCR, RCR, OCR: Singapore's Market Segments
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: 1010 condos with sales data and 1824 with rental data out of 3429 tracked properties for July 2021.