- Total of 12,150 transactions recorded in July 2024 (+31.6% MoM).
- Median sale price per square foot: $1,827, up 6.6% from last month.
- Median monthly rent: $4,400 (+3.5% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 277 sales.
- Highest gross yield: 3.26% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 12,150 total transactions in July 2024, up 31.6% from the previous month. Sales volume stood at 2,231 units with a median price of $1,827 per square foot, while the rental market saw 9,919 leases at a median rent of $4,400/month. For an overview of the buying process, see our Total Condo Carrying Cost Guide — Beyond the Mortgage.
Highest-Value Transactions
The top 5 transactions by total price in July 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $52,000,000 | $3,435 | 15,141 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $49,000,000 | $2,321 | 21,116 | Resale |
| REBECCA PARK | D10 | $38,000,000 | $1,858 | 20,449 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $23,000,000 | $1,521 | 15,121 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $18,000,000 | $2,731 | 6,591 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,231 transactions in July 2024, representing an increase of 35.0% month-on-month and down 19.3% year-on-year. The median price per square foot was $1,827 (up 6.6% MoM), while the median transaction price stood at $1,650,000.
Transaction Mix: Resale: 1,547 (69.3%) · Sub Sale: 108 (4.8%) · New Sale: 576 (25.8%)
Segment Performance: CCR, RCR & OCR
Performance across Singapore's three market segments shows differentiated pricing and demand patterns.
| Segment | Sales Vol. | Median PSF | Rentals | Median Rent | Gross Yield |
|---|---|---|---|---|---|
| CCR (Core Central Region) | 233 | $2,190 | 2,751 | $5,800 | 2.81% |
| RCR (Rest of Central Region) | 624 | $1,963 | 3,340 | $4,400 | 2.54% |
| OCR (Outside Central Region) | 1,374 | $1,621 | 3,828 | $4,000 | 3.26% |
For a deeper comparison, see Top PSF Districts vs Top Yield Districts.
Top Districts by Activity
The most active districts by sales volume in July 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 277 | $1,495 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 209 | $2,141 |
| District 17 (Loyang, Changi) | Loyang, Changi | OCR | 172 | $2,013 |
| District 22 (Jurong) | Jurong | OCR | 172 | $2,126 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 148 | $1,514 |
Notable Transactions
The highest-value transactions by price per square foot in July 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| NASSIM PARK RESIDENCES | D10 | $4,472 | $14,200,000 | 3,175 | Resale |
| ARDMORE PARK | D10 | $4,160 | $12,000,000 | 2,885 | Resale |
| 19 NASSIM | D10 | $3,697 | $3,900,000 | 1,055 | New Sale |
| MIDTOWN MODERN | D7 | $3,671 | $6,638,000 | 1,808 | New Sale |
| WATTEN ESTATE | D11 | $3,644 | $6,550,000 | 1,798 | Resale |
| MIDTOWN MODERN | D7 | $3,643 | $6,588,000 | 1,808 | New Sale |
| 19 NASSIM | D10 | $3,595 | $3,986,170 | 1,109 | New Sale |
| ARDMORE THREE | D10 | $3,527 | $6,150,000 | 1,744 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,450 | $5,570,000 | 1,615 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,450 | $5,570,000 | 1,615 | Resale |
Rental Market Snapshot
The rental market recorded 9,919 leases in July 2024, up 30.9% month-on-month. The median monthly rent was $4,400 (up 3.5% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,300 |
| 2BR | $4,000 |
| 3BR | $5,300 |
| 4BR | $8,300 |
| 5BR | $9,800 |
| NA | $6,000 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 226 |
| NON-LANDED HOUSING DEVELOPMENT | 132 |
| STIRLING RESIDENCES | 110 |
| PARC RIVIERA | 83 |
| NORMANTON PARK | 81 |
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 |
|---|---|---|
| 2024-02 | $1,715 | $4,400 |
| 2024-03 | $1,916 | $4,300 |
| 2024-04 | $1,738 | $4,400 |
| 2024-05 | $1,669 | $4,300 |
| 2024-06 | $1,714 | $4,250 |
| 2024-07 | $1,827 | $4,400 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 576 units (25.8% of total), while resales made up 1,547 transactions and 108 sub-sales were recorded.
Unit Size Demand: 5BR+: 232 (10.4%) · 4BR: 300 (13.4%) · 2BR: 429 (19.2%) · 3BR: 729 (32.7%) · 1BR: 413 (18.5%) · Studio: 128 (5.7%)
Price Distribution: $500K-1M: 212 · $1M-1.5M: 685 · $1.5M-2M: 522 · $2M-3M: 460 · $3M+: 352
Explore our latest Condos with Best Views in District 17 (Loyang, Changi) 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 July 2024:
- Prices are trending upward with median PSF rising 6.6% month-on-month.
- Rents are holding firm with median rent up 3.5% 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 Check TDSR and MSR Affordability · Singapore Cooling Measures: History and Current Rates
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 | $850,000 | -- | -- |
| 1 | $1,250,000 | -- | -- |
| 1BR | -- | $3,300/mo | -- |
| 2 | $1,550,000 | -- | -- |
| 2BR | -- | $4,000/mo | -- |
| 3 | $1,750,000 | -- | -- |
| 3BR | -- | $5,300/mo | -- |
| 4 | $2,850,000 | -- | -- |
| 4BR | -- | $8,300/mo | -- |
| 5 | $4,575,400 | -- | -- |
| 5BR | -- | $9,800/mo | -- |
| NA | -- | $6,000/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Check TDSR and MSR Affordability
- How to Compare Mortgage Loan Packages
- How to Evaluate Mortgage Refinancing
- Total Condo Carrying Cost Guide — Beyond the Mortgage
- Condo Noise Guide — Floor Level, Facing & Construction Quality
- Singapore Rental Income Tax Guide — IRAS Rules, Deductions & Filing
- Singapore Cooling Measures: History and Current Rates
- Capital Gains and Appreciation: How Values Grow
- IRR: Internal Rate of Return for Property Investors
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: 800 condos with sales data and 1802 with rental data out of 3429 tracked properties for July 2024.