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Yes, the analysis of Singapore's property market is included in our pack
Property prices in Singapore vary dramatically by type and location, with current costs ranging from S$1,100–S$3,000+ per square foot.
As of September 2025, Singapore's property market shows continued resilience with private home prices rising 3.33% year-on-year and strong transaction volumes across all segments. Understanding your investment strategy, target property type, and preferred districts is crucial for making informed purchasing decisions in this competitive market.
If you want to go deeper, you can check our pack of documents related to the real estate market in Singapore, based on reliable facts and data, not opinions or rumors.
Singapore's property market offers distinct segments from HDB resale flats (S$596-S$612 per sqft) to luxury Core Central Region condos (S$2,500-S$3,000+ per sqft), with transaction volumes remaining robust in 2025.
Buyers face additional costs including 20-30% ABSD for foreigners, 4-6% buyer's stamp duty, and ongoing expenses like property tax and maintenance fees that significantly impact total investment returns.
| Property Type | Price Range (S$ per sqft) | Average Total Price |
|---|---|---|
| HDB Resale Flats | S$596 - S$612 | S$612,497 |
| OCR Private Condos | S$1,100 - S$1,400 | S$1,400,000 - S$1,800,000 |
| RCR Private Condos | S$1,600 - S$2,300 | S$1,800,000 - S$2,500,000 |
| CCR Private Condos | S$2,100 - S$3,000+ | S$2,500,000 - S$5,000,000+ |
| Landed Properties | S$1,800 - S$2,500 | S$4,200,000 - S$8,000,000 |
What's your main goal—live in it, rent it out, or buy to resell later?
Your investment strategy directly determines which Singapore property segment offers the best value.
If you plan to live in the property, focus on HDB resale flats or private condos in the Rest of Central Region (RCR) and Outside Central Region (OCR). HDB flats average S$612,497 with median prices at S$590,000, making them ideal for owner-occupiers seeking affordability and government subsidies.
For rental income, private condos in districts 15-20 deliver the strongest yields. OCR areas like Hougang/Punggol generate gross rental yields around 3.6%, among Singapore's highest due to steady tenant demand and relatively lower purchase prices compared to prime districts.
For capital appreciation and resale, Core Central Region (CCR) properties in districts 1, 2, 9, 10, and 11 historically show the strongest long-term growth. However, these require significantly higher capital commitments with CCR condo prices averaging over S$3,000 per square foot.
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Which property type are you considering and why that type?
Singapore offers four main residential property categories, each serving different buyer profiles and investment goals.
HDB resale flats remain the most affordable option but come with strict eligibility requirements. Only Singapore citizens and Permanent Residents can purchase HDB flats, and short-term rentals are prohibited with minimum rental periods of 6 months. The average PSF price for HDB flats is S$596.81, making them attractive for first-time buyers and young families.
Private condominiums offer the best balance of amenities, rental flexibility, and capital growth potential. Condos average S$1,989,082 with median prices at S$1,780,000, providing swimming pools, gyms, security, and management services. Foreign buyers can purchase most private condos without additional restrictions.
New launch condos feature modern designs, developer warranties, and staged payment schemes but command premium pricing. Resale condos offer immediate occupation and established neighbourhoods at potentially lower per-square-foot rates.
Landed properties including terrace houses, semi-detached, and bungalows target ultra-high-net-worth buyers. Landed homes average S$5,336,871 with median prices at S$4,200,000, suitable for families requiring larger spaces and exclusive addresses.
Which specific districts fit your plan and how do they rank by price?
Singapore's 28 residential districts fall into three distinct pricing tiers based on location and amenities.
| Price Tier | Districts | Price Range (S$ per sqft) | Characteristics |
|---|---|---|---|
| Most Expensive (CCR) | 1, 2, 9, 10, 11 | S$2,100 - S$3,000+ | Core luxury, Marina Bay, Orchard Road |
| Mid-Range (RCR) | 3, 4, 5, 12, 13, 14, 15, 20 | S$1,600 - S$2,300 | City fringe, established amenities |
| Budget-Friendly (OCR) | 16, 17, 18, 19, 23-28 | S$1,100 - S$1,400 | Suburban, family-oriented, new towns |
| Up-and-Coming | 19 (Punggol), 23 (Hillview), 25 (Woodlands) | S$1,300 - S$1,800 | New developments, transport upgrades |
| Prime Landed | 10, 11, 21 | S$1,800 - S$2,500 | Exclusive landed enclaves |
| Waterfront Premium | 15 (East Coast), 16 (Bedok) | S$2,000 - S$2,800 | Coastal living, family amenities |
| Business Hub | 1 (CBD), 2 (Anson), 4 (Harbourfront) | S$2,500 - S$3,500 | Corporate proximity, investment grade |
District 19 (Hougang/Punggol/Sengkang) features recent projects priced around S$1,300 to S$1,800 per square foot, representing excellent value for families upgrading from HDB flats. These areas benefit from new infrastructure including the Thomson-East Coast Line and upcoming Punggol Digital District.
What size and layout do you need and what's the current price per sqm?
Property sizes and layouts directly impact per-square-foot pricing across different market segments.
For HDB flats, typical sizes range from 60sqm (3-room) to 140sqm (Executive), with larger flats commanding lower per-square-foot rates. 4-room flats around 90-100sqm represent the most popular choice for families.
Private condos offer more varied layouts from 50sqm (1-bedroom) to 200sqm+ (penthouses). Non-landed properties led price growth with a 0.95% quarter-on-quarter increase in Q1 2025, reflecting strong demand for apartment living.
For a 90-110sqm private condo in RCR districts like Queenstown, expect S$2,000-S$2,200 per sqft. In OCR areas, similar-sized units cost S$1,200-S$1,400 per sqft. Prime CCR locations command S$2,500-S$3,000+ per sqft for comparable sizes.
Landed properties typically start from 200sqm and can exceed 500sqm for bungalows. Per-square-foot pricing decreases with larger plot sizes, but total quantum remains substantial due to land scarcity premiums.
Show recent real transaction examples for different types and sizes
Recent transaction data reveals actual market pricing across property segments and locations.
Based on confirmed sales from late 2024 to mid-2025, here are representative transactions:
| Date | Project/Area | Floor Area (sqm) | Property Type | Total Price (S$) | Price per sqft |
|---|---|---|---|---|---|
| Jul 2025 | Bishan Spring (Executive HDB) | 130 | HDB Resale | 1,588,000 | S$1,135 |
| Jul 2025 | Treasure at Tampines | 95 | Private Condo | 1,570,000 | S$1,729 |
| Q1 2025 | One Marina Gardens | 120 | New Launch CCR | 3,805,000 | S$2,948 |
| Q1 2025 | Lentor Central Residences | 105 | New Launch RCR | 2,496,000 | S$2,213 |
| Nov 2024 | Goodwood Grand (D10) | 105 | Strata Detached | 5,950,000 | S$5,269 |
| Nov 2024 | Sembawang Springs | 105 | Landed Detached | 4,900,000 | S$4,335 |
| Oct 2024 | Hoover Park (D21) | 169 | Landed Semi-D | 6,500,000 | S$3,577 |
In July 2025, 169 HDB resale flats transacted for at least S$1,000,000, representing 6.6% of total resale volume, demonstrating the premium end of public housing has reached significant price levels.
What will your all-in purchase price be after adding fees?
Total acquisition costs extend far beyond the property's listed price, particularly for foreign buyers and second property purchases.
Buyer's Stamp Duty applies to all purchases on a sliding scale from 1% to 5% of property value. For a S$2 million condo, BSD amounts to S$64,600.
Additional Buyer's Stamp Duty (ABSD) significantly impacts foreign buyers and multiple property owners. Foreigners pay 60% ABSD on residential properties, meaning a S$2 million purchase incurs S$1.2 million in ABSD alone. Singapore citizens buying their second property face 20% ABSD (S$400,000 on S$2 million).
Legal fees typically range S$2,000-S$5,000 depending on transaction complexity and property value. Agent commissions, if applicable, add 1-2% for buyer's agents.
Additional costs include property valuation (S$500-S$800), loan processing fees (S$500-S$2,000), fire insurance (S$100-S$300 annually), and mortgage insurance if required.
For a S$2 million condo purchased by a foreigner, total upfront costs approach S$3.27 million including the 60% ABSD, representing a 63% premium over the property's base price.
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What mortgage terms can you qualify for now and what will your monthly payment be?
Financing options in Singapore depend on residency status, income levels, and existing property ownership.
Current mortgage rates range around 2.5-2.6%, down from approximately 4% a year ago, providing substantial savings for borrowers. Singapore citizens and PRs can access loan-to-value ratios up to 75% for first properties, dropping to 45% for second properties.
For a S$2 million property with 75% financing (S$1.5 million loan) over 30 years at 2.6% interest, monthly payments total approximately S$6,040 including principal and interest.
Foreigners face stricter lending criteria with maximum LTV ratios of 75% for first property purchases in Singapore. However, the 60% ABSD significantly increases upfront cash requirements.
Total Debt Servicing Ratio (TDSR) limits all debt obligations to 55% of gross monthly income. For the S$2 million property example, buyers need minimum monthly income of S$11,000 to qualify.
Add monthly maintenance fees (S$350-S$600 for condos), property tax, and insurance to determine true carrying costs. Total monthly expenses typically range S$6,500-S$7,500 for a S$2 million condo.
What ongoing costs should you budget for by property type?
Ongoing ownership expenses vary significantly between HDB flats, private condos, and landed properties.
Property tax rates differ for owner-occupiers versus investors. Owner-occupied properties enjoy progressive rates from 0% to 32% of Annual Value, while non-owner-occupied properties start at 12% and increase to 36%.
HDB flat owners pay minimal service and conservancy charges (S$20-S$100 monthly) plus town council fees. Total monthly expenses rarely exceed S$200 for HDB properties.
Private condo owners face Management Corporation Strata Title (MCST) fees ranging S$350-S$600+ monthly depending on unit size and facilities. Luxury condos with extensive amenities can charge S$800-S$1,200 monthly.
Property insurance costs S$100-S$400 annually depending on coverage and property value. Repair and maintenance reserves should account for S$1,000-S$3,000 annually for condos, higher for landed properties.
Vacancy risks affect rental properties, particularly in premium segments. Budget 1-2 months annual vacancy for most areas, potentially higher for luxury CCR properties.
For a S$2 million condo generating S$8,000 monthly rent, annual expenses including tax, MCST, insurance, and vacancy typically total S$15,000-S$25,000, reducing net rental yields to 2.5-3.5%.
For living in it, which options deliver the best value-for-liveability within your budget?
Value-for-money varies significantly across Singapore's districts based on amenities, connectivity, and lifestyle factors.
Districts 3 (Queenstown), 5 (Buona Vista), and 15 (Katong/East Coast) offer optimal balance between pricing, amenities, and accessibility. These areas provide MRT connectivity, good schools, recreational facilities, and reasonable property prices compared to prime CCR locations.
For families prioritizing education, consider proximities to top schools like Raffles Institution, Hwa Chong Institution, or Nanyang Girls' High. Properties within 1km of prestigious schools command premiums but offer long-term value through better rental demand and capital appreciation.
New towns like Punggol and Sengkang provide modern amenities, waterfront living, and family-friendly environments at competitive prices. These areas offer amenities like Punggol Waterway parks and new schools with future developments like Punggol Digital District.
For professionals, proximity to CBD or major employment hubs justifies higher property costs through reduced commuting time and expenses. Districts 1-4 provide walking distance to financial districts but require significantly higher budgets.
Consider total lifestyle costs including transportation, dining, entertainment, and education when evaluating district options. Suburban areas may offer larger spaces and lower property costs but require higher transport expenses and longer commutes.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Singapore versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
For renting out, what gross and net yields can you expect by area and property type?
Rental yields in Singapore vary substantially by location, property type, and rental strategy.
HDB flats generally deliver the highest gross rental yields around 4-6% due to lower purchase prices and steady tenant demand. However, HDB rentals face restrictions including minimum 6-month leases and prohibition of short-term rentals.
OCR areas like Hougang/Punggol average gross rental yields around 3.6%, among Singapore's highest for private properties. These suburbs attract families and professionals seeking affordable housing near MRT stations.
RCR districts typically generate 3-4% gross yields with good tenant demand from expatriates and local upgraders. District 15 properties yield about 3.3% while benefiting from coastal amenities and established schools.
CCR prime properties often yield 2.5-3.5% gross returns but offer stronger capital appreciation potential. Ultra-high-end units may yield even lower due to premium pricing and limited tenant pool.
Net yields after expenses (property tax, MCST, insurance, vacancy, maintenance) typically run 1-2% below gross figures. Factor in management fees if using rental agents (8-10% of rental income).
Short-term rentals face significant restrictions in private residential properties. Minimum rental periods typically require 3+ months, preventing Airbnb-style operations that might generate higher yields in other markets.
For buying to resell, which segments show the best historical liquidity and capital growth?
Historical performance data reveals distinct patterns across Singapore's property segments for capital appreciation and liquidity.
Private condos in RCR and select OCR areas demonstrate the strongest combination of liquidity and capital growth over 5-10 year periods. These segments achieve typical annual compound growth rates of 4-6%, outpacing inflation while maintaining reasonable transaction volumes.
CCR properties show strong capital appreciation but face liquidity challenges at ultra-high price points. Properties above S$5 million require longer marketing periods and attract limited buyer pools, potentially causing difficulties during economic downturns.
New launch condos historically outperform resale properties during their initial 3-5 years due to modern amenities, warranties, and developer marketing. However, once projects mature, resale properties may offer better value propositions.
Landed properties demonstrate excellent long-term capital appreciation but suffer from limited liquidity. Average marketing periods extend 6-12 months compared to 2-4 months for condos. However, land scarcity ensures strong long-term value preservation.
HDB flats provide steady capital growth matching inflation but face resale restrictions including ethnic integration policies and citizenship requirements that limit buyer pools.
For optimal resale strategy, target well-located condos in established areas with good schools, MRT access, and amenities. Avoid overly unique designs or small developer projects that may limit future buyer appeal.
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How have prices moved vs 1 year and 5 years ago, and what's the outlook?
Singapore's property market demonstrates resilient long-term growth despite periodic cooling measures and economic cycles.
Private home prices rose 3.33% year-on-year in Q1 2025, reflecting continued market strength despite global uncertainties. This follows increases of 6.8% and 3.9% in 2023 and 2024 respectively.
Over 5-year periods, most segments delivered 20-30% appreciation with prime areas outpacing suburban locations. CCR properties achieved 25-35% growth while OCR areas posted 18-25% increases, benefiting from infrastructure development and urban renewal.
Looking forward, DBS Research projects 1-2% price increases for 2025, aligning with inflation expectations and representing moderation from recent years' rapid growth. PropNex forecasts 3-4% price increases for private homes in 2025 supported by declining interest rates and steady demand.
HDB resale prices show stronger near-term momentum with year-on-year price increases of 6.6% as of July 2025, driven by upgraders with substantial gains from private property sales and permanent residents entering the market.
Long-term outlook remains positive based on Singapore's limited land supply, population growth, and economic diversification. However, government cooling measures will likely prevent excessive speculation and maintain sustainable growth rates.
Compared to regional peers, Singapore property commands premium pricing but offers superior legal framework, currency stability, and investment protection that justify the higher costs for international investors.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Singapore's property market in 2025 offers diverse opportunities across different budget ranges and investment strategies. Understanding the significant cost differences between property types, from HDB resale flats at S$596 per sqft to CCR luxury condos exceeding S$3,000 per sqft, helps buyers align their choices with financial capabilities and goals.
Success in Singapore's property market requires careful consideration of all-in costs including substantial ABSD for foreigners, ongoing maintenance expenses, and financing terms. With proper research and professional guidance, property buyers can navigate this complex but rewarding market to achieve their homeownership and investment objectives.
It's something we develop in our Singapore property pack.
Sources
- Global Property Guide - Singapore Property Market Analysis 2025
- SmartWealth - Average House Price Singapore 2025
- SRX Property Index - Singapore Property Prices
- DBS - Property Outlook 2025
- Real Estate Asia - Singapore Private Home Prices
- SHE Real Estate - Singapore Property Market Q1 2025
- IQRate - Singapore Property Market Districts Comparison
- Dr Wealth - Singapore Property Prices by MRT