- Total of 10,041 transactions recorded in March 2022 (+25.2% MoM).
- Median sale price per square foot: $1,534, down 1.9% from last month.
- Median monthly rent: $3,500 (+2.9% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 339 sales.
- Highest gross yield: 2.73% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 10,041 total transactions in March 2022, up 25.2% from the previous month. Sales volume stood at 2,294 units with a median price of $1,534 per square foot, while the rental market saw 7,747 leases at a median rent of $3,500/month. For an overview of the buying process, see our Decoupling Strategy for Singapore Property Owners.
Highest-Value Transactions
The top 5 transactions by total price in March 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| ARIVA ON SHAN SERVICED RESIDENCE | D12 | $86,499,999 | $3,943 | 21,940 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $66,060,000 | $1,931 | 34,215 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $66,060,000 | $1,931 | 34,215 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $66,060,000 | $1,931 | 34,215 | Resale |
| LES MAISONS NASSIM | D10 | $59,768,640 | $4,953 | 12,066 | New Sale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 2,294 transactions in March 2022, representing an increase of 37.2% month-on-month and down 24.1% year-on-year. The median price per square foot was $1,534 (down 1.9% MoM), while the median transaction price stood at $1,580,000.
Transaction Mix: Resale: 1,539 (67.1%) · New Sale: 701 (30.6%) · Sub Sale: 54 (2.4%)
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) | 332 | $2,445 | 2,445 | $4,650 | 2.27% |
| RCR (Rest of Central Region) | 771 | $1,810 | 2,518 | $3,500 | 2.39% |
| OCR (Outside Central Region) | 1,191 | $1,263 | 2,784 | $3,000 | 2.73% |
For a deeper comparison, see 3-Bed Family Condos: CCR vs RCR vs OCR.
Top Districts by Activity
The most active districts by sales volume in March 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 339 | $1,354 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 181 | $1,689 |
| District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) | Pasir Panjang, Hong Leong Garden, Clementi New Town | RCR | 181 | $1,728 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 134 | $2,670 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 117 | $1,097 |
Notable Transactions
The highest-value transactions by price per square foot in March 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $4,953 | $59,768,640 | 12,066 | New Sale |
| PARK NOVA | D10 | $4,623 | $10,200,000 | 2,207 | New Sale |
| TWENTYONE ANGULLIA PARK | D9 | $4,512 | $10,200,000 | 2,260 | Resale |
| THE MARQ ON PATERSON HILL | D9 | $4,402 | $13,600,000 | 3,089 | Resale |
| ARIVA ON SHAN SERVICED RESIDENCE | D12 | $3,943 | $86,499,999 | 21,940 | Resale |
| WALLICH RESIDENCE | D2 | $3,801 | $7,650,000 | 2,013 | Resale |
| ARDMORE PARK | D10 | $3,774 | $10,888,000 | 2,885 | Resale |
| LANDED HOUSING DEVELOPMENT | D9 | $3,745 | $6,180,000 | 1,650 | Resale |
| TOMLINSON HEIGHTS | D10 | $3,690 | $10,129,000 | 2,745 | Resale |
| 3 CUSCADEN | D10 | $3,689 | $4,725,000 | 1,281 | New Sale |
Rental Market Snapshot
The rental market recorded 7,747 leases in March 2022, up 22.0% month-on-month. The median monthly rent was $3,500 (up 2.9% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $2,600 |
| 2BR | $3,250 |
| 3BR | $4,000 |
| 4BR | $7,037 |
| 5BR | $11,000 |
| 6BR | $2,850 |
| 8BR | $15,500 |
| NA | $3,850 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 173 |
| NON-LANDED HOUSING DEVELOPMENT | 162 |
| THE SAIL @ MARINA BAY | 58 |
| PARC RIVIERA | 50 |
| CITY SQUARE RESIDENCES | 45 |
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 |
|---|---|---|
| 2021-10 | $1,493 | $3,200 |
| 2021-11 | $1,634 | $3,200 |
| 2021-12 | $1,517 | $3,200 |
| 2022-01 | $1,488 | $3,300 |
| 2022-02 | $1,564 | $3,400 |
| 2022-03 | $1,534 | $3,500 |
Market volatility assessment: Moderate (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Price Distribution — 2022.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 701 units (30.6% of total), while resales made up 1,539 transactions and 54 sub-sales were recorded.
Unit Size Demand: 5BR+: 322 (14%) · 4BR: 328 (14.3%) · 3BR: 758 (33%) · 2BR: 423 (18.4%) · Studio: 145 (6.3%) · 1BR: 318 (13.9%)
Price Distribution: $500K-1M: 368 · $1M-1.5M: 668 · $1.5M-2M: 496 · $2M-3M: 387 · $3M+: 375
Explore our latest Condos with Best Views in District 24 (Lim Chu Kang, Tengah) for featured developments.
Outlook & What to Watch
In 2022, the introduction of higher Additional Buyer's Stamp Duty (IRAS ABSD ratesABSD) rates in December 2021 tempered foreign demand, while domestic buyers remained active amid rising interest rates.
Key takeaways for March 2022:
- Prices have softened with median PSF falling 1.9% month-on-month.
- Rents are holding firm with median rent up 2.9% 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 94%, near historical averages.
Useful resources: How to Compare Mortgage Loan Packages · Moving Averages: Reading Property Price Trends
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 | $1,050,000 | -- | -- |
| 1BR | -- | $2,600/mo | -- |
| 2 | $1,314,400 | -- | -- |
| 2BR | -- | $3,250/mo | -- |
| 3 | $1,579,500 | -- | -- |
| 3BR | -- | $4,000/mo | -- |
| 4 | $2,350,000 | -- | -- |
| 4BR | -- | $7,037/mo | -- |
| 5 | $4,400,000 | -- | -- |
| 5BR | -- | $11,000/mo | -- |
| 6BR | -- | $2,850/mo | -- |
| 8BR | -- | $15,500/mo | -- |
| NA | -- | $3,850/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 Compare Mortgage Loan Packages
- How to Check TDSR and MSR Affordability
- Decoupling Strategy for Singapore Property Owners
- HDB MOP Condo Upgrade — Timing, Costs & Strategy
- Jurong Lake District Guide — Investing Before Singapore's Second CBD
- Moving Averages: Reading Property Price Trends
- ROI Metrics: Total Return, Break-Even, Future Value
- SSD Explained: Seller's Stamp Duty and Holding Periods
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: 839 condos with sales data and 1691 with rental data out of 3429 tracked properties for March 2022.