- Total of 8,174 transactions recorded in November 2022 (-11.6% MoM).
- Median sale price per square foot: $1,486, up 7.6% from last month.
- Median monthly rent: $4,200 (+2.4% MoM).
- Most active district: District 19 (Serangoon Garden, Hougang, Punggol) with 189 sales.
- Highest gross yield: 3.36% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 8,174 total transactions in November 2022, down 11.6% from the previous month. Sales volume stood at 1,567 units with a median price of $1,486 per square foot, while the rental market saw 6,607 leases at a median rent of $4,200/month. For an overview of the buying process, see our Tengah Town Guide — Singapore's First Car-Free Town.
Highest-Value Transactions
The top 5 transactions by total price in November 2022:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| LANDED HOUSING DEVELOPMENT | D10 | $55,088,000 | $1,989 | 27,699 | Resale |
| LES MAISONS NASSIM | D10 | $36,000,000 | $5,827 | 6,178 | New Sale |
| LANDED HOUSING DEVELOPMENT | D21 | $29,700,000 | $1,604 | 18,519 | Resale |
| MARINA ONE RESIDENCES | D1 | $19,888,000 | $2,284 | 8,708 | Resale |
| LANDED HOUSING DEVELOPMENT | D5 | $18,475,512 | $1,128 | 16,379 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,567 transactions in November 2022, representing a decrease of 23.8% month-on-month and down 54.5% year-on-year. The median price per square foot was $1,486 (up 7.6% MoM), while the median transaction price stood at $1,530,000.
Transaction Mix: Resale: 1,097 (70%) · New Sale: 410 (26.2%) · Sub Sale: 60 (3.8%)
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) | 326 | $2,564 | 1,930 | $5,400 | 2.78% |
| RCR (Rest of Central Region) | 375 | $1,791 | 2,266 | $4,300 | 2.74% |
| OCR (Outside Central Region) | 866 | $1,309 | 2,411 | $3,700 | 3.36% |
For a deeper comparison, see Studio vs 1-Bed vs 2-Bed: Yields by Unit Size.
Top Districts by Activity
The most active districts by sales volume in November 2022:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 189 | $1,389 |
| District 24 (Lim Chu Kang, Tengah) | Lim Chu Kang, Tengah | OCR | 163 | $1,323 |
| District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) | Ardmore, Bukit Timah, Holland Road, Tanglin | CCR | 150 | $2,746 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 108 | $1,733 |
| District 9 (Orchard, Cairnhill, River Valley) | Orchard, Cairnhill, River Valley | CCR | 94 | $2,603 |
Notable Transactions
The highest-value transactions by price per square foot in November 2022:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| LES MAISONS NASSIM | D10 | $5,827 | $36,000,000 | 6,178 | New Sale |
| BOAT QUAY CONSERVATION AREA | D1 | $5,695 | $6,130,000 | 1,076 | Resale |
| PARK NOVA | D10 | $4,645 | $13,500,000 | 2,906 | New Sale |
| PARK NOVA | D10 | $4,543 | $6,504,000 | 1,432 | New Sale |
| PARK NOVA | D10 | $4,494 | $6,434,000 | 1,432 | New Sale |
| ARDMORE PARK | D10 | $4,333 | $12,500,000 | 2,885 | Resale |
| BOULEVARD 88 | D10 | $4,041 | $5,307,000 | 1,313 | New Sale |
| WALLICH RESIDENCE | D2 | $3,970 | $5,000,000 | 1,259 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,866 | $2,680,000 | 693 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,866 | $2,680,000 | 693 | Resale |
Rental Market Snapshot
The rental market recorded 6,607 leases in November 2022, down 8.2% month-on-month. The median monthly rent was $4,200 (up 2.4% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,300 |
| 2BR | $4,000 |
| 3BR | $4,900 |
| 4BR | $7,600 |
| 5BR | $9,700 |
| 7BR | $58,000 |
| 8BR | $9,000 |
| NA | $4,700 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 153 |
| NON-LANDED HOUSING DEVELOPMENT | 135 |
| PARC ESTA | 103 |
| THE SAIL @ MARINA BAY | 45 |
| MARINA ONE RESIDENCES | 43 |
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 |
|---|---|---|
| 2022-06 | $1,571 | $3,700 |
| 2022-07 | $1,747 | $4,000 |
| 2022-08 | $1,604 | $4,000 |
| 2022-09 | $1,830 | $4,000 |
| 2022-10 | $1,381 | $4,100 |
| 2022-11 | $1,486 | $4,200 |
Market volatility assessment: Volatile (based on 6-month coefficient of variation of median PSF).
For longer-term analysis, see Rental Price Distribution — 2023.
Supply & Demand Signals
Primary vs Secondary Market: New launches accounted for 410 units (26.2% of total), while resales made up 1,097 transactions and 60 sub-sales were recorded.
Unit Size Demand: 5BR+: 175 (11.2%) · 4BR: 228 (14.6%) · 3BR: 518 (33.1%) · 1BR: 197 (12.6%) · Studio: 103 (6.6%) · 2BR: 346 (22.1%)
Price Distribution: $500K-1M: 209 · $1M-1.5M: 544 · $1.5M-2M: 317 · $2M-3M: 239 · $3M+: 258
Explore our latest Pet-Friendly Condos in Singapore: Where Furry Friends Are Welcome 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 November 2022:
- Prices are trending upward with median PSF rising 7.6% month-on-month.
- Rents are holding firm with median rent up 2.4% 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 96%, near historical averages.
Useful resources: How to Evaluate Mortgage Refinancing · DSCR: Debt Service Coverage Ratio for Rental Properties
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 | $810,000 | -- | -- |
| 1 | $1,170,000 | -- | -- |
| 1BR | -- | $3,300/mo | -- |
| 2 | $1,260,000 | -- | -- |
| 2BR | -- | $4,000/mo | -- |
| 3 | $1,490,000 | -- | -- |
| 3BR | -- | $4,900/mo | -- |
| 4 | $2,229,000 | -- | -- |
| 4BR | -- | $7,600/mo | -- |
| 5 | $4,580,000 | -- | -- |
| 5BR | -- | $9,700/mo | -- |
| 7BR | -- | $58,000/mo | -- |
| 8BR | -- | $9,000/mo | -- |
| NA | -- | $4,700/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 Evaluate Mortgage Refinancing
- How to Calculate Seller's Stamp Duty (SSD)
- Tengah Town Guide — Singapore's First Car-Free Town
- Expat Family Condo Guide — Schools, Space & Smart Choices
- Stamp Duty Complete Guide: BSD, ABSD, and SSD
- Capital Gains and Appreciation: How Values Grow
- BSD Explained: Buyer's Stamp Duty Rates in Singapore
- Cash-on-Cash Return: Measuring Your Cash Investment
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: 672 condos with sales data and 1593 with rental data out of 3429 tracked properties for November 2022.