District 1 is Singapore's prime financial address — 24 condos, a median of $2,429 psf across 1,794 URA-recorded sales, and a 3.1% gross yield anchored by $5,000/month median rents. New launches at One Marina Gardens ($2,953 psf avg) and W Residences Marina View ($3,344 psf avg) are redefining the district's price ceiling amid URA's 10,000-home Marina South masterplan.
Singapore's District 1 is the city-state's financial heartbeat. Stretching across Raffles Place, Marina Bay, Cecil Street, People's Park and Marina South, this compact CCR precinct is home to global banks, premier office towers, and a thin but coveted stack of residential addresses that trade among the highest per-square-foot prices in Southeast Asia.
The district's identity has evolved in two phases. The older commercial core matured through the 1990s–2000s, producing mid-rise leasehold condos such as Marina Bay Residences and The Sail @ Marina Bay. The second phase is unfolding now in Marina South, a 45-hectare blank-canvas waterfront precinct that URA is building from scratch. URA's Draft Master Plan 2025 earmarks over 10,000 new homes for Marina South across 16 GLS parcels.
On the supply side, One Marina Gardens (937 units, 99-year leasehold, GLS won by Kingsford for $1.035 billion or $1,402 psf ppr) became the first Marina South address to launch. By mid-2026 it had sold 530 units at an average of $2,953 psf. W Residences Marina View (683 units by IOI Properties) opened October 2025 at from $3,230 psf, averaging $3,344 psf.
On the demand side, the 60% ABSD on all foreign buyers since 27 April 2023 has fundamentally changed who is buying, per IRAS. Foreign CCR share fell from 15.8% in Q1 2023 to roughly 1.8% by 2024.
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- 24 condos tracked in District 1 (CCR)
- Median PSF: $2,429 psf across 1,794 sales
- Median rent: $5,000/mo across 12,361 leases
- Estimated gross yield: 3.1%
- Segment: Core Central Region
District Overview
District 1 covers Raffles Place, Marina, Cecil, People's Park, located in Singapore's Core Central Region (CCR). ShiokNest currently tracks 24 condominiums in this district.
Our database covers sales transactions from 2021 to 2026 and rental transactions from 2021 to 2026, sourced from URA REALIS.
Properties Tracked
| Name | Street | Tenure | Units | TOP |
|---|---|---|---|---|
| ALLAN VILLE | GEMMILL LANE | — | 7 | — |
| BOAT QUAY CONSERVATION AREA | BOAT QUAY | 999 yrs lease commencing from 1826 | — | — |
| EMERALD GARDEN | CLUB STREET | 999 yrs lease commencing from 1827 | 265 | 1998 |
| FOOK HAI BUILDING | SOUTH BRIDGE ROAD | 99 yrs lease commencing from 1972 | 28 | — |
| KRETA AYER CONSERVATION AREA | SMITH STREET | — | — | — |
| MARINA BAY RESIDENCES | MARINA BOULEVARD | 99 yrs lease commencing from 2005 | 428 | 2010 |
| MARINA BAY SUITES | CENTRAL BOULEVARD | 99 yrs lease commencing from 2007 | 221 | 2013 |
| MARINA ONE RESIDENCES | MARINA WAY | 99 yrs lease commencing from 2011 | 1042 | 2018 |
| ONE MARINA GARDENS | MARINA GARDENS LANE | 99 yrs lease commencing from 2023 | 937 | 2025 |
| ONE SHENTON | SHENTON WAY | 99 yrs lease commencing from 2005 | 341 | 2010 |
| PEOPLE'S PARK CENTRE | UPPER CROSS STREET | 99 yrs lease commencing from 1970 | 120 | 1974 |
| PEOPLE'S PARK COMPLEX | PARK ROAD | 99 yrs lease commencing from 1968 | 288 | 1970 |
| RIVERWALK APARTMENTS | UPPER CIRCULAR ROAD | 99 yrs lease commencing from 1980 | 118 | 1990 |
| ROBINSON SUITES | ROBINSON ROAD | Freehold | 167 | 2014 |
| SKYWATERS RESIDENCES | PRINCE EDWARD ROAD | 99 years leasehold | 146 | 2024 |
| TELOK AYER CONSERVATION AREA | CLUB STREET | — | — | — |
| THE BOX | GEMMILL LANE | — | — | — |
| THE CLIFT | MCCALLUM STREET | 99 yrs lease commencing from 2004 | 312 | 2011 |
| THE PLATINUM | UPPER CROSS STREET | — | — | — |
| THE RIVERSIDE PIAZZA | KENG CHEOW STREET | 99 yrs lease commencing from 1992 | 40 | 1996 |
| THE SAIL @ MARINA BAY | Marina Boulevard | 99-year leasehold | 1111 | 2008 |
| UNION SQUARE RESIDENCES | HAVELOCK ROAD | 99 yrs lease commencing from 2024 | 366 | 2024 |
| V ON SHENTON | SHENTON WAY | 99 yrs lease commencing from 2011 | 510 | 2017 |
| W RESIDENCES MARINA VIEW - SINGAPORE | MARINA VIEW | 99 yrs lease commencing from 2021 | 683 | 2025 |
Sales Market Analysis
| Type | Transactions | Avg Price | Avg PSF |
|---|---|---|---|
| Studio | 303 | $1,197,227 | $2,761 psf |
| 1-Bed | 402 | $1,587,936 | $2,518 psf |
| 2-Bed | 456 | $1,903,476 | $2,439 psf |
| 3-Bed | 365 | $2,543,864 | $2,277 psf |
| 4-Bed | 197 | $3,675,975 | $2,272 psf |
| 5-Bed | 71 | $7,296,724 | $2,501 psf |
| Month | Volume | Avg PSF |
|---|---|---|
| 2025-06 | 69 | $2,696 psf |
| 2025-07 | 48 | $2,691 psf |
| 2025-08 | 33 | $2,524 psf |
| 2025-09 | 30 | $2,315 psf |
| 2025-10 | 29 | $2,570 psf |
| 2025-11 | 35 | $2,611 psf |
| 2025-12 | 23 | $2,269 psf |
| 2026-01 | 21 | $2,565 psf |
| 2026-02 | 26 | $2,628 psf |
| 2026-03 | 28 | $2,657 psf |
| 2026-04 | 51 | $2,669 psf |
| 2026-05 | 2 | $2,979 psf |
From 2021 to 2026, average PSF in District 1 has appreciated by 25.7% (~5.1% annualized).
| Year | Sales | Avg PSF | YoY |
|---|---|---|---|
| 2021 | 238 | $2,106 psf | — |
| 2022 | 188 | $2,073 psf | ↓ 1.6% |
| 2023 | 147 | $2,013 psf | ↓ 2.9% |
| 2024 | 292 | $2,416 psf | ↑ 20.0% |
| 2025 | 801 | $2,729 psf | ↑ 13.0% |
| 2026 | 128 | $2,646 psf | ↓ 3.1% |
Top Performing Condos
| # | Condo | Avg PSF | Avg Price | Sales |
|---|---|---|---|---|
| 1 | SKYWATERS RESIDENCES | $6,097 psf | $25,595,335 | 4 |
| 2 | UNION SQUARE RESIDENCES | $3,159 psf | $2,540,500 | 148 |
| 3 | W RESIDENCES MARINA VIEW - SINGAPORE | $2,981 psf | $2,923,719 | 15 |
| 4 | ONE MARINA GARDENS | $2,957 psf | $2,064,454 | 621 |
| 5 | ROBINSON SUITES | $2,325 psf | $1,432,311 | 18 |
| # | Condo | Sales | Avg PSF |
|---|---|---|---|
| 1 | ONE MARINA GARDENS | 621 | $2,957 psf |
| 2 | THE SAIL @ MARINA BAY | 268 | $2,011 psf |
| 3 | MARINA ONE RESIDENCES | 207 | $2,323 psf |
| 4 | UNION SQUARE RESIDENCES | 148 | $3,159 psf |
| 5 | ONE SHENTON | 104 | $1,774 psf |
Rental Market Analysis
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 500 | $3,888/mo | $2,200/mo | $115,504/mo |
| 1-Bed | 5,494 | $4,281/mo | $1,400/mo | $14,000/mo |
| 2-Bed | 3,921 | $6,110/mo | $1,000/mo | $14,200/mo |
| 3-Bed | 1,806 | $8,158/mo | $1,050/mo | $22,000/mo |
| 4-Bed | 628 | $13,877/mo | $2,500/mo | $80,000/mo |
| 5-Bed | 12 | $42,771/mo | $6,950/mo | $100,000/mo |
Investment Outlook
| Type | Avg Price | Avg Rent | Est. Gross Yield |
|---|---|---|---|
| Studio | $1,197,227 | $3,888/mo | 3.90% |
| 1-Bed | $1,587,936 | $4,281/mo | 3.23% |
| 2-Bed | $1,903,476 | $6,110/mo | 3.85% |
| 3-Bed | $2,543,864 | $8,158/mo | 3.85% |
| 4-Bed | $3,675,975 | $13,877/mo | 4.53% |
| 5-Bed | $7,296,724 | $42,771/mo | 7.03% |
Estimated gross yields are calculated from average sale prices and average monthly rents. Actual net yields will vary after accounting for maintenance fees, property tax, agent commissions, and vacancy periods.
ShiokNest's URA REALIS dataset (1,794 transactions across 24 condos) reveals a three-tier PSF structure.
| Sub-area | Representative projects | Median / Avg PSF |
|---|---|---|
| Marina Bay luxury | W Residences Marina View, Skywaters Residences | $3,230–$3,600+ psf |
| Marina Bay established | One Marina Gardens, Marina One Residences | $2,800–$3,100 psf |
| Raffles Place / Cecil | V on Shenton, The Clift, One Shenton | $1,800–$2,400 psf |
The district-wide median of $2,429 psf is anchored upward by the Marina Bay sub-market. Rental yield estimated at 3.1% from 12,361 lease records at $5,000/month median.
- Verify ABSD liability before shortlisting. Foreign buyers face 60% ABSD. On a $3M unit that is $1.8M in stamp duty alone.
- Benchmark Marina South GLS land cost as a price floor. Kingsford paid $1,402 psf ppr for One Marina Gardens land. Breakeven lands at approximately $2,400–$2,600 psf.
- Distinguish sub-tier before comparing PSF. A $2,200 psf unit at V on Shenton is not the same risk profile as $3,344 psf at W Residences Marina View.
- Run the gross yield calculation. At $3,000 psf for a 700 sq ft unit, a $6,000/month return implies 3.4% gross yield.
- Track remaining Marina South GLS launches. One Marina Gardens is parcel 1 of 16. Monitor URA's GLS Reserve List.
- Check lease decay on older Marina Bay stock. Marina Bay Residences and One Shenton have ~78–80 years remaining as of 2026.
Frequently Asked Questions
What is the average PSF in District 1?
Is District 1 in CCR, RCR, or OCR?
What are the best condos in District 1?
What is the rental yield in District 1?
How many condos are in District 1?
Is District 1 a good investment for foreigners?
The 60% ABSD imposed on all foreign purchasers since April 2023 makes District 1 extremely costly for non-residents. At a $3 million purchase price the ABSD alone is $1.8 million. Foreign buyer share in the CCR fell from 15.8% in Q1 2023 to approximately 1.8% by 2024.
What are the newest condos in District 1?
One Marina Gardens (937 units, TOP 2025, 99-yr, avg $2,953 psf) and W Residences Marina View (683 units, TOP 2025, 99-yr, launched from $3,230 psf in October 2025). Both are in Marina South.
What is URA's plan for Marina South?
Marina South is designated as a 45-hectare mixed-use waterfront neighbourhood with over 10,000 new homes planned across 16 GLS land parcels. One Marina Gardens is the first completed parcel.
What is the lease situation for older Marina Bay condos?
Marina Bay's first-generation 99-year leasehold condos have approximately 78–80 years remaining as of 2026. CPF usage restrictions tighten when leases fall below 60 years.
Methodology & Sources
Figures below are drawn from 2021 to 2026 and revised periodically as new data is published.
Transaction data sourced from URA REALIS.
- Gross yield estimates assume no vacancy, maintenance fees, or taxes.
- View area maps and nearby amenities on OneMap.
- Check stamp duty rates at IRAS BSD and IRAS ABSD.
We report medians (not means) so a single outlier transaction cannot skew district-level figures. PSF = price per square foot.