- Total of 11,217 transactions recorded in March 2021 (+221.3% MoM).
- Median sale price per square foot: $1,548, up 14.2% from last month.
- Median monthly rent: $3,000 (+0.0% MoM).
- Most active district: District 7 (Middle Road, Golden Mile) with 398 sales.
- Highest gross yield: 2.76% in the CCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 11,217 total transactions in March 2021, up 221.3% from the previous month. Sales volume stood at 3,024 units with a median price of $1,548 per square foot, while the rental market saw 8,193 leases at a median rent of $3,000/month. For an overview of the buying process, see our Cross Island Line Investment Guide — Where to Buy Before Stations Open.
Highest-Value Transactions
The top 5 transactions by total price in March 2021:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| EDEN | D10 | $261,644,000 | $4,789 | 54,638 | Resale |
| LANDED HOUSING DEVELOPMENT | D10 | $128,800,800 | $4,005 | 32,159 | Resale |
| SURREY POINT | D11 | $47,800,000 | $2,031 | 23,541 | Resale |
| LANDED HOUSING DEVELOPMENT | D4 | $39,333,999 | $2,012 | 19,550 | Resale |
| HILLTOPS | D9 | $33,500,000 | $3,995 | 8,385 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 3,024 transactions in March 2021, representing an increase of 513.4% month-on-month. The median price per square foot was $1,548 (up 14.2% MoM), while the median transaction price stood at $1,519,825.
Transaction Mix: Resale: 1,752 (57.9%) · New Sale: 1,244 (41.1%) · Sub Sale: 28 (0.9%)
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) | 767 | $2,595 | 2,513 | $4,100 | 2.76% |
| RCR (Rest of Central Region) | 906 | $1,627 | 2,685 | $3,100 | 2.12% |
| OCR (Outside Central Region) | 1,351 | $1,174 | 2,995 | $2,600 | 2.55% |
For a deeper comparison, see East vs West vs North vs Central: Regional Compare.
Top Districts by Activity
The most active districts by sales volume in March 2021:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 7 (Middle Road, Golden Mile) | Middle Road, Golden Mile | CCR | 398 | $2,711 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 344 | $1,171 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 257 | $1,644 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 224 | $1,119 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 189 | $1,656 |
Notable Transactions
The highest-value transactions by price per square foot in March 2021:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| EDEN | D10 | $6,025 | $18,287,000 | 3,035 | Resale |
| EDEN | D10 | $4,789 | $261,644,000 | 54,638 | Resale |
| EDEN | D10 | $4,306 | $13,069,000 | 3,035 | Resale |
| MIDTOWN MODERN | D7 | $4,213 | $14,830,200 | 3,520 | New Sale |
| LANDED HOUSING DEVELOPMENT | D10 | $4,005 | $128,800,800 | 32,159 | Resale |
| HILLTOPS | D9 | $3,995 | $33,500,000 | 8,385 | Resale |
| THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL | D9 | $3,815 | $10,800,000 | 2,831 | Resale |
| BOULEVARD 88 | D10 | $3,762 | $6,681,500 | 1,776 | New Sale |
| BISHOPSGATE RESIDENCES | D10 | $3,682 | $10,660,000 | 2,895 | Resale |
| BISHOPSGATE RESIDENCES | D10 | $3,682 | $10,660,000 | 2,895 | Resale |
Rental Market Snapshot
The rental market recorded 8,193 leases in March 2021, up 173.3% month-on-month. The median monthly rent was $3,000 (up 0.0% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,300 |
| 2BR | $2,850 |
| 3BR | $3,550 |
| 4BR | $6,300 |
| 5BR | $8,700 |
| 6BR | $15,150 |
| NA | $3,300 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| NON-LANDED HOUSING DEVELOPMENT | 192 |
| LANDED HOUSING DEVELOPMENT | 171 |
| THE SAIL @ MARINA BAY | 72 |
| D'LEEDON | 59 |
| GRANDEUR PARK RESIDENCES | 56 |
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 |
|---|---|---|
| 2020-10 | -- | -- |
| 2020-11 | -- | -- |
| 2020-12 | -- | -- |
| 2021-01 | -- | $2,500 |
| 2021-02 | $1,356 | $3,000 |
| 2021-03 | $1,548 | $3,000 |
Market volatility assessment: Stable (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Sales Trends by Floor Level — 2024.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 1,244 units (41.1% of total), while resales made up 1,752 transactions and 28 sub-sales were recorded.
Unit Size Demand: 5BR+: 408 (13.5%) · 4BR: 399 (13.2%) · 3BR: 887 (29.3%) · 2BR: 559 (18.5%) · Studio: 305 (10.1%) · 1BR: 466 (15.4%)
Price Distribution: <$500K: 1 · $500K-1M: 513 · $1M-1.5M: 957 · $1.5M-2M: 695 · $2M-3M: 468 · $3M+: 390
Explore our latest Condos with Best Views in District 3 (Queenstown, Tiong Bahru) 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 March 2021:
- Prices are trending upward with median PSF rising 14.2% 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 121%, above historical averages.
Useful resources: How to Use the End-to-End Investment Calculator · ABSD Explained: Additional Buyer's Stamp Duty 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 | $1,215,720 | -- | -- |
| 1 | $1,200,000 | -- | -- |
| 1BR | -- | $2,300/mo | -- |
| 2 | $1,374,000 | -- | -- |
| 2BR | -- | $2,850/mo | -- |
| 3 | $1,450,000 | -- | -- |
| 3BR | -- | $3,550/mo | -- |
| 4 | $2,180,000 | -- | -- |
| 4BR | -- | $6,300/mo | -- |
| 5 | $3,700,000 | -- | -- |
| 5BR | -- | $8,700/mo | -- |
| 6BR | -- | $15,150/mo | -- |
| NA | -- | $3,300/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 Calculate Stamp Duty (BSD + ABSD)
- Cross Island Line Investment Guide — Where to Buy Before Stations Open
- Joint Tenancy vs Tenancy in Common: Choosing the Right Ownership
- Divorce & Property in Singapore — Splitting Ownership & Obligations
- Total Condo Carrying Cost Guide — Beyond the Mortgage
- CCR, RCR, OCR: Singapore's Market Segments
- DSCR: Debt Service Coverage Ratio for Rental Properties
- Capital Gains and Appreciation: How Values Grow
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: 875 condos with sales data and 1681 with rental data out of 3429 tracked properties for March 2021.