- Total of 9,534 transactions recorded in September 2024 (-12.9% MoM).
- Median sale price per square foot: $1,782, up 5.8% from last month.
- Median monthly rent: $4,300 (-4.4% MoM).
- Most active district: District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) with 211 sales.
- Highest gross yield: 2.96% in the OCR segment.
Based on URA REALIS data, the Singapore private residential market recorded 9,534 total transactions in September 2024, down 12.9% from the previous month. Sales volume stood at 1,937 units with a median price of $1,782 per square foot, while the rental market saw 7,597 leases at a median rent of $4,300/month. For an overview of the buying process, see our Paya Lebar Air Base Property Guide — Singapore's Biggest Land Release.
Highest-Value Transactions
The top 5 transactions by total price in September 2024:
| Project | District | Price | PSF | Size (sqft) | Type |
|---|---|---|---|---|---|
| RAFFLES PARK | D11 | $20,000,000 | $1,977 | 10,116 | Resale |
| HOLLAND GROVE PARK | D10 | $15,500,000 | $2,183 | 7,100 | Resale |
| FRANKEL ESTATE | D15 | $14,750,000 | $2,208 | 6,679 | Resale |
| LANDED HOUSING DEVELOPMENT | D11 | $14,500,000 | $3,142 | 4,614 | Resale |
| LANDED HOUSING DEVELOPMENT | D4 | $14,155,000 | $1,777 | 7,967 | Resale |
Key Figures at a Glance
Sales Market Deep Dive
The private residential sales market recorded 1,937 transactions in September 2024, representing an increase of 3.6% month-on-month and up 28.9% year-on-year. The median price per square foot was $1,782 (up 5.8% MoM), while the median transaction price stood at $1,750,000.
Transaction Mix: Resale: 1,448 (74.8%) · New Sale: 390 (20.1%) · Sub Sale: 99 (5.1%)
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) | 212 | $2,180 | 2,369 | $5,700 | 2.63% |
| RCR (Rest of Central Region) | 633 | $2,156 | 2,553 | $4,350 | 2.62% |
| OCR (Outside Central Region) | 1,092 | $1,498 | 2,675 | $3,800 | 2.96% |
For a deeper comparison, see Orchard Road vs River Valley: Central Living Comparison.
Top Districts by Activity
The most active districts by sales volume in September 2024:
| District | Area | Segment | Transactions | Median PSF |
|---|---|---|---|---|
| District 23 (Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang) | Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang | OCR | 211 | $1,490 |
| District 19 (Serangoon Garden, Hougang, Punggol) | Serangoon Garden, Hougang, Punggol | OCR | 187 | $1,524 |
| District 15 (Katong, Joo Chiat, Amber Road) | Katong, Joo Chiat, Amber Road | RCR | 178 | $2,211 |
| District 21 (Upper Bukit Timah, Clementi Park, Ulu Pandan) | Upper Bukit Timah, Clementi Park, Ulu Pandan | OCR | 175 | $2,579 |
| District 18 (Tampines, Pasir Ris) | Tampines, Pasir Ris | OCR | 124 | $1,483 |
Notable Transactions
The highest-value transactions by price per square foot in September 2024:
| Project | District | PSF | Price | Size (sqft) | Type |
|---|---|---|---|---|---|
| RESIDENTIAL APARTMENTS | D8 | $3,877 | $5,200,000 | 1,341 | Resale |
| KLIMT CAIRNHILL | D9 | $3,803 | $5,690,000 | 1,496 | New Sale |
| 19 NASSIM | D10 | $3,764 | $5,550,000 | 1,475 | New Sale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,760 | $6,050,000 | 1,609 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,760 | $6,050,000 | 1,609 | Resale |
| LANDED HOUSING DEVELOPMENT | D15 | $3,760 | $6,050,000 | 1,609 | Resale |
| HILLTOPS | D9 | $3,689 | $6,313,000 | 1,711 | Resale |
| MIDTOWN MODERN | D7 | $3,611 | $6,530,000 | 1,808 | New Sale |
| 19 NASSIM | D10 | $3,608 | $5,321,000 | 1,475 | New Sale |
| THE ORCHARD RESIDENCES | D9 | $3,593 | $10,250,000 | 2,852 | Resale |
Rental Market Snapshot
The rental market recorded 7,597 leases in September 2024, down 16.2% month-on-month. The median monthly rent was $4,300 (down 4.4% MoM).
Median Rent by Bedroom Type:
| Type | Median Rent |
|---|---|
| 1BR | $3,200 |
| 2BR | $4,000 |
| 3BR | $5,300 |
| 4BR | $8,800 |
| 5BR | $10,500 |
| 6BR | $16,000 |
| NA | $5,400 |
Most Active Rental Projects:
| Project | Leases |
|---|---|
| LANDED HOUSING DEVELOPMENT | 177 |
| NON-LANDED HOUSING DEVELOPMENT | 146 |
| MARINA ONE RESIDENCES | 54 |
| CLAVON | 50 |
| THE SAIL @ MARINA BAY | 47 |
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 |
|---|---|---|
| 2024-04 | $1,738 | $4,400 |
| 2024-05 | $1,669 | $4,300 |
| 2024-06 | $1,714 | $4,250 |
| 2024-07 | $1,827 | $4,400 |
| 2024-08 | $1,685 | $4,500 |
| 2024-09 | $1,782 | $4,300 |
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 390 units (20.1% of total), while resales made up 1,448 transactions and 99 sub-sales were recorded.
Unit Size Demand: 5BR+: 212 (10.9%) · 4BR: 267 (13.8%) · 3BR: 682 (35.2%) · 2BR: 384 (19.8%) · Studio: 84 (4.3%) · 1BR: 308 (15.9%)
Price Distribution: $500K-1M: 175 · $1M-1.5M: 518 · $1.5M-2M: 472 · $2M-3M: 449 · $3M+: 323
Explore our latest Condos with Best Views in District 25 (Kranji, Woodgrove) 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 September 2024:
- Prices are trending upward with median PSF rising 5.8% month-on-month.
- Rental rates have eased with median rent down 4.4% 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 46%, near historical averages.
Useful resources: IRR: Internal Rate of Return for Property Investors
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 | $822,944 | -- | -- |
| 1 | $1,230,000 | -- | -- |
| 1BR | -- | $3,200/mo | -- |
| 2 | $1,550,000 | -- | -- |
| 2BR | -- | $4,000/mo | -- |
| 3 | $1,880,000 | -- | -- |
| 3BR | -- | $5,300/mo | -- |
| 4 | $2,800,000 | -- | -- |
| 4BR | -- | $8,800/mo | -- |
| 5 | $4,518,228 | -- | -- |
| 5BR | -- | $10,500/mo | -- |
| 6BR | -- | $16,000/mo | -- |
| NA | -- | $5,400/mo | -- |
Yields are gross estimates: (monthly rent × 12) / median sale price. Actual net yields vary with maintenance, taxes, and vacancy.
Useful Resources
- Paya Lebar Air Base Property Guide — Singapore's Biggest Land Release
- Joint Tenancy vs Tenancy in Common: Choosing the Right Ownership
- Singapore Condo Refinancing Guide — When & How to Switch Lenders
- Singapore Budget Property Impact — Annual Analysis Template
- BCA Green Mark for Condos — Energy, Value & Sustainability
- CCR vs RCR vs OCR Price Convergence — Suburban Catching Up
- Capital Gains and Appreciation: How Values Grow
- ROI Metrics: Total Return, Break-Even, Future Value
- 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: 749 condos with sales data and 1698 with rental data out of 3429 tracked properties for September 2024.