- Total of 8,569 transactions recorded in June 2023 (-0.9% MoM).
- Median sale price per square foot: $1,632, down 15.5% from last month.
- Median monthly rent: $4,600 (+2.2% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 170 sales.
- Highest gross yield: 3.59% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 8,569 total transactions in June 2023, down 0.9% from the previous month. Sales volume stood at 1,534 units with a median price of $1,632 per square foot, while the rental market saw 7,035 leases at a median rent of $4,600/month. For an overview of the buying process, see our BTO vs Resale HDB vs Condo — Complete Decision Framework.
Highest-Value Transactions
The top 5 transactions by total price in June 2023:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $32,748,700 | $5,300 | 6,178 | New Sale |
| LES MAISONS NASSIM | D10 | $30,764,600 | $5,050 | 6,092 | New Sale |
| RAFFLES PARK | D11 | $24,000,000 | $2,121 | 11,314 | Resale |
| OEI TIONG HAM PARK | D10 | $22,800,000 | $2,613 | 8,726 | Resale |
| HONG KONG PARK | D21 | $20,300,000 | $2,116 | 9,592 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,534 transactions in June 2023, representing a decrease of 39.0% month-on-month and down 27.4% year-on-year. The median price per square foot was $1,632 (down 15.5% MoM), while the median transaction price stood at $1,670,600.
Transaction Mix: Resale: 1,165 (75.9%) · Sub Sale: 91 (5.9%) · New Sale: 278 (18.1%)
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) | 291 | $2,243 | 2,035 | $6,100 | 2.77% |
| RCR (Rest of Central Region) | 552 | $1,858 | 2,349 | $4,600 | 2.94% |
| OCR (Outside Central Region) | 691 | $1,357 | 2,651 | $4,000 | 3.59% |
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 June 2023:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 170 | $1,460 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 147 | $2,181 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 127 | $1,840 |
| District 21 (Upper Bukit Timah, Clementi Park, Ulu Pandan) | Upper Bukit Timah, Clementi Park, Ulu Pandan | OCR | 114 | $2,559 |
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 106 | $1,369 |
Notable Transactions
The highest-value transactions by price per square foot in June 2023:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $5,300 | $32,748,700 | 6,178 | New Sale |
| LES MAISONS NASSIM | D10 | $5,050 | $30,764,600 | 6,092 | New Sale |
| THE MARQ ON PATERSON HILL | D9 | $4,208 | $13,000,000 | 3,089 | Resale |
| KLIMT CAIRNHILL | D9 | $3,776 | $5,650,000 | 1,496 | New Sale |
| BOULEVARD 88 | D10 | $3,644 | $4,785,000 | 1,313 | New Sale |
| THOMSON GARDEN ESTATE | D20 | $3,546 | $3,130,000 | 883 | Resale |
| KLIMT CAIRNHILL | D9 | $3,528 | $5,050,000 | 1,432 | New Sale |
| ONE DRAYCOTT | D10 | $3,523 | $2,579,000 | 732 | New Sale |
| MIDTOWN BAY | D7 | $3,494 | $1,617,300 | 463 | New Sale |
| GRANGE 1866 | D10 | $3,390 | $2,591,000 | 764 | New Sale |
Rental Market Snapshot
The rental market recorded 7,035 leases in June 2023, up 14.7% month-on-month. The median monthly rent was $4,600 (up 2.2% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,400 |
| 2BR | $4,225 |
| 3BR | $5,300 |
| 4BR | $8,500 |
| 5BR | $10,500 |
| 6BR | $14,000 |
| NA | $5,100 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 152 |
| NON-LANDED HOUSING DEVELOPMENT | 140 |
| THE SAIL @ MARINA BAY | 47 |
| D'LEEDON | 40 |
| MARINA ONE RESIDENCES | 33 |
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 |
|---|---|---|
| 2023-01 | $1,648 | $4,400 |
| 2023-02 | $1,764 | $4,500 |
| 2023-03 | $1,707 | $4,500 |
| 2023-04 | $1,987 | $4,580 |
| 2023-05 | $1,932 | $4,500 |
| 2023-06 | $1,632 | $4,600 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Trends by Bedroom Type — 2022.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 278 units (18.1% of total), while resales made up 1,165 transactions and 91 sub-sales were recorded.
Unit Size Demand: 5BR+: 200 (13%) · 4BR: 204 (13.3%) · 2BR: 335 (21.8%) · 3BR: 476 (31%) · 1BR: 208 (13.6%) · Studio: 111 (7.2%)
Price Distribution: $500K-1M: 198 · $1M-1.5M: 432 · $1.5M-2M: 349 · $2M-3M: 259 · $3M+: 296
Explore our latest Best Condos Under $500K in Singapore for featured developments.
Outlook & What to Watch
The 2023 market saw the impact of the April IRAS ABSD ratesABSD hike for investment properties, cooling speculative demand while owner-occupier buying remained resilient.
Key takeaways for June 2023:
- Prices have softened with median PSF falling 15.5% month-on-month.
- Rents are holding firm with median rent up 2.2% 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 65%, near historical averages.
Useful resources: How to Use the Mortgage Calculator · ROI Metrics: Total Return, Break-Even, Future Value
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 | $760,000 | -- | -- |
| 1 | $1,171,500 | -- | -- |
| 1BR | -- | $3,400/mo | -- |
| 2 | $1,450,000 | -- | -- |
| 2BR | -- | $4,225/mo | -- |
| 3 | $1,625,000 | -- | -- |
| 3BR | -- | $5,300/mo | -- |
| 4 | $2,680,000 | -- | -- |
| 4BR | -- | $8,500/mo | -- |
| 5 | $4,250,000 | -- | -- |
| 5BR | -- | $10,500/mo | -- |
| 6BR | -- | $14,000/mo | -- |
| NA | -- | $5,100/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- How to Calculate Stamp Duty (BSD + ABSD)
- How to Use the Mortgage Calculator
- How to Evaluate Mortgage Refinancing
- BTO vs Resale HDB vs Condo — Complete Decision Framework
- Singapore Rental Market 2026 Outlook
- How Much Can You Afford? TDSR and MSR Framework
- TDSR and MSR: Singapore's Borrowing Limits
- ROI Metrics: Total Return, Break-Even, Future Value
- 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: 668 condos with sales data and 1654 with rental data out of 3429 tracked properties for June 2023.