Authored by the expert who managed and guided the team behind the Singapore Property Pack
Yes, the analysis of Singapore's property market is included in our pack
Singapore's property market in September 2025 presents a compelling but complex landscape for buyers and investors. Property prices show steady growth with Core Central Region condos averaging $2,228 per square foot while suburban areas offer more accessible entry points at $1,300-$1,800 per square foot.
Current rental yields range from 2.7% to 4.1% across different districts, with mortgage rates stabilizing around 1.6-1.8% after recent declines from 2024 peaks. Government cooling measures including 60% Additional Buyer's Stamp Duty for foreigners and stricter Seller's Stamp Duty rules continue to shape market dynamics.
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 property prices increased 3-4% in 2024-2025, with rental yields averaging 3-4% and mortgage rates at historic lows of 1.6-1.8%.
Government cooling measures remain strict with 60% stamp duty for foreigners, while emerging districts like Tengah and Woodlands offer growth potential for buyers.
| Property Type | Average Price | Rental Yield | Best For |
|---|---|---|---|
| CCR Condos | $2,228 psf | 2.7-3.0% | Capital appreciation |
| RCR Condos | $1,800-$2,000 psf | 3.3-3.8% | Balanced investment |
| OCR Condos | $1,300-$1,800 psf | 3.8-4.1% | Entry-level buyers |
| HDB Flats | $590,000 median | 3-5% | First-time buyers |
| Landed Properties | $4.2M median | 1.5-2% | Long-term wealth |
| New Launches | Varies by location | Variable | Future appreciation |
| Growth Areas | $1,000-$1,500 psf | 4%+ | High upside potential |
What are current property prices in Singapore by area and property type?
Singapore property prices vary significantly across districts and property types as of September 2025.
Core Central Region (CCR) commands the highest premiums with resale condos averaging $2,228 per square foot. Prime new launches in District 1 exceed $3,000 per square foot, reflecting the prestige and convenience of downtown locations.
Rest of Central Region (RCR) properties typically cost between $1,800-$2,000 per square foot. City-fringe areas like Tanglin, Katong, and Clementi are trending upward due to improved connectivity and amenities. These areas offer a balance between accessibility and affordability compared to the core districts.
Outside Central Region (OCR) suburban homes average $1,300-$1,800 per square foot. Areas like Woodlands and Punggol provide more space and value, with 5-room HDB flats carrying median prices from $620,000-$760,000.
HDB flats show a median price of $590,000 and mean of $612,000, while private condos have a median of $1,780,000 and mean of $1,989,000. Landed properties command the highest prices with a median of $4,200,000 and mean of $5,336,000.
How have property prices changed over the past year?
Singapore property prices experienced steady growth of 3-4% from 2024 to 2025.
Rest of Central Region led the growth with a 5.8% increase, followed by Core Central Region at 4.5% and Outside Central Region at 3.7%. This distribution shows stronger demand for city-fringe properties that offer better value compared to prime districts.
Q1 2025 saw mild quarter-on-quarter increases across all regions. Core Central Region gained 0.3%, Rest of Central Region rose 1.7%, and Outside Central Region increased 1.3%. These moderate gains reflect the ongoing impact of government cooling measures.
The growth pattern indicates a maturing market where sharp price spikes are controlled through policy interventions. Unlike the dramatic increases seen in early 2021-2022, current growth rates suggest sustainable appreciation rather than speculative bubbles.
It's something we develop in our Singapore property pack.
What are the medium-term price trends over the last 3-5 years?
Singapore property price growth has moderated significantly since 2022 due to persistent cooling measures.
The market experienced peak growth in early 2021-2022 when prices surged amid pandemic-driven demand and low interest rates. However, the government's swift policy response with enhanced cooling measures successfully tempered these increases.
From 2022 to 2025, price appreciation has been steady but controlled, typically ranging between 3-6% annually across different segments. This represents a significant slowdown from the double-digit growth rates seen during the pandemic period.
The trend shows government intervention effectiveness in maintaining market stability while allowing for organic growth. Cooling measures introduced during this period have created a more predictable pricing environment for both buyers and sellers.
Current trajectories suggest continued moderate growth as Singapore's economy remains robust and population growth drives underlying demand for housing.
What does the long-term property price trajectory look like over the past decade?
Singapore property prices have nearly doubled over the past decade, demonstrating strong long-term appreciation.
Core Central Region and Rest of Central Region properties have maintained their premium appeal throughout this period. The luxury segment has shown particular resilience, with high-end developments consistently attracting both local and foreign buyers despite various policy interventions.
HDB resale million-dollar transactions have grown 11-fold since 2014, indicating significant value appreciation in the public housing segment. This trend reflects upgrading infrastructure, improved amenities, and growing acceptance of HDB properties as long-term investments.
Outside Central Region prices increased most dramatically post-2015 as infrastructure expansion, particularly MRT line extensions, improved connectivity to suburban areas. Districts like Woodlands and Punggol transformed from remote locations to well-connected residential hubs.
The decade-long trajectory shows Singapore property as a wealth preservation vehicle despite periodic cooling measures, with consistent demand from both residents and international investors supporting long-term value appreciation.
Don't lose money on your property in Singapore
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What are current rental yields across different neighborhoods and property types?
Singapore rental yields average 3-4% across the island, with significant variation by district and property type.
District 2, covering CBD and Tanjong Pagar, offers the highest average yield at 4.07% due to strong corporate rental demand. Districts 25 (Woodlands) and 7 (Beach Road/Bugis) also provide attractive yields above 4%.
Prime residential districts show lower yields but stronger capital appreciation potential. District 9 (Orchard) yields 3.0% while District 10 (Tanglin/Holland) provides 2.7%. These areas attract tenants willing to pay premium rents for prestige locations.
Property type significantly affects yields. HDB flats can achieve 3-5% yields, making them attractive for first-time investors. Private condos typically yield 2.7-4.1% depending on location, while landed properties offer the lowest yields at 1.5-2% but strongest long-term capital gains.
Outside Central Region properties generally provide higher yields due to more affordable purchase prices while maintaining decent rental demand from families and young professionals seeking value.
How do rental demand and vacancy rates vary by area right now?
Singapore rental market shows strong demand with tight supply across most areas as of September 2025.
| Area Type | Occupancy Rate | Vacancy Rate | Demand Level |
|---|---|---|---|
| Core Central Region | 93%+ | <7% | High |
| Rest of Central Region | 93%+ | <7% | Very High |
| Outside Central Region | 92%+ | <8% | Strong |
| CBD Office Districts | 94.8% | 5.2% | Excellent |
| Emerging Areas | 90%+ | <10% | Growing |
| HDB Mature Estates | Variable | Higher | Moderate |
| New Launch Areas | 85%+ | Variable | Building Up |
Private residential vacancy rates remain below 7% in most districts, indicating healthy rental demand. Q1 2025 data shows private properties achieving 93.5% occupancy rates, reflecting strong tenant absorption.
CBD and prime office districts show particularly tight supply with vacancy rates at 5.2%. This translates to strong rental demand for nearby residential properties from financial sector professionals and expatriate workers.
What government policies and cooling measures are currently affecting buyers?
Singapore maintains strict cooling measures designed to ensure market stability and prioritize local buyers.
Additional Buyer's Stamp Duty (ABSD) remains the most significant policy tool. Foreign buyers face 60% ABSD, making Singapore property extremely expensive for international investors. Singaporeans pay 20% ABSD on second properties, significantly higher than previous rates.
Seller's Stamp Duty (SSD) was enhanced in July 2025 with a stricter tiered system. Property sellers face rates from 16% down to 4% over four years, requiring longer holding periods to avoid substantial penalties. This discourages property flipping and speculative behavior.
Loan restrictions include lower loan-to-value ratios and stricter Total Debt Servicing Ratio (TDSR) rules. These measures ensure buyers have sufficient financial capacity and reduce excessive borrowing.
Additional measures include higher property taxes for luxury units and penalties for developers holding unsold inventory. These policies collectively maintain price stability while ensuring adequate housing supply.
How do current mortgage rates compare to recent years?
Mortgage rates in Singapore have declined significantly from recent peaks, creating more favorable borrowing conditions.
As of August 2025, fixed mortgage rates start from 1.63% while 1-month floating SORA rates stand at 1.80%. These represent substantial decreases from peak rates of 3.3% at the end of 2024.
The decline reflects Monetary Authority of Singapore's policy easing and US Federal Reserve rate cuts throughout 2025. Current rates of around 2.5% are significantly lower than the 3%+ levels seen in 2022-2023 during the global inflation period.
Lower mortgage rates improve affordability for buyers and reduce refinancing costs for existing homeowners. However, borrowing remains constrained by strict loan-to-value ratios and TDSR requirements regardless of rate levels.
It's something we develop in our Singapore property pack.
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.
Which areas are projected for the most growth in the near future?
Several emerging districts show strong growth potential due to government development plans and infrastructure improvements.
Tengah (District 24) represents Singapore's first smart eco-town with sustainable features and innovative urban planning. As an affordable entry point with high upside potential, Tengah attracts young families and first-time buyers seeking modern amenities.
Woodlands (District 25) is positioned as Singapore's "Northern Gateway" with new rail links and mixed-use waterfront development. The upcoming High Speed Rail terminus and expanded shopping facilities make this area attractive for long-term appreciation.
Paya Lebar, Potong Pasir, and Bidadari (Districts 13-14) benefit from transport upgrades and digital hub development. These centrally-located areas offer family-friendly new launches with good connectivity to business districts.
Marina South as part of the Southern Waterfront precinct will feature integrated developments emphasizing green living and MRT access. This area represents premium growth potential for buyers seeking luxury properties with unique waterfront views.
What budgets are realistic for different types of buyers?
Property budgets in Singapore vary significantly based on buyer category and property type preferences.
Entry-level buyers typically need $400,000-$700,000 for HDB flats or $1,000,000-$1,500,000 for Outside Central Region condos. These buyers usually have household incomes of $7,000-$10,000 monthly and prioritize affordability over location prestige.
Mid-range buyers with budgets of $700,000-$1,000,000 for HDB or $1,500,000-$2,500,000 for Rest of Central Region condos represent the largest market segment. They seek balance between location, amenities, and price.
Luxury buyers focus on Core Central Region condos starting at $3,000,000 or landed properties above $5,000,000. These buyers typically have household incomes exceeding $25,000 monthly and prioritize prestige locations and unique property features.
Realistic monthly income requirements include $4,000-$6,000 for HDB, $7,000-$10,000 for mass market condos, $12,000-$18,000 for city-fringe properties, and $25,000+ for luxury properties based on current lending criteria.
Which property types offer the best value for different purposes?
Property type selection depends on buyer objectives, budget constraints, and investment timeframe.
For owner-occupation, HDB flats provide the best value with government subsidies, affordable prices, and stable communities. Executive Condominiums offer a stepping stone to private property ownership with lower entry costs than full condos.
Rental investment favors Outside Central Region and Rest of Central Region condos offering yields of 3.8-4.1%. Smaller units in central locations attract young professionals and expatriates willing to pay premium rents for convenience.
Capital appreciation investors should consider new launches in emerging districts like Tengah and Woodlands, where infrastructure development drives long-term value growth. City-fringe locations also offer good appreciation potential as urban density increases.
Landed properties provide the strongest long-term wealth preservation despite lower rental yields of 1.5-2%. These properties offer land ownership benefits and typically appreciate faster than high-rise developments over extended periods.
New launches generally provide the highest appreciation potential, especially in growth districts, but require longer investment horizons to realize full returns.
How should you position yourself based on your investment goals?
Investment positioning in Singapore property requires clear goal definition and market timing awareness.
For homeownership, focus on affordability and established estates with proven amenities. HDB flats or Executive Condominiums provide excellent entry points, while suburban condos suit upgraders seeking more space and privacy.
Rental income investors should target high-yield districts including CBD areas, city-fringe locations, and Woodlands. Smaller, well-located condos typically generate higher yields and attract stable tenant demand from working professionals.
Capital appreciation strategies involve buying in new launch developments or designated growth areas like Tengah, Woodlands, and Marina South. These locations benefit from government development plans and infrastructure improvements over 5-10 year periods.
Risk management requires understanding cooling measures, particularly Seller's Stamp Duty holding periods. Buyers should plan exit strategies beyond the four-year SSD period to maximize returns and minimize tax implications.
It's something we develop in our Singapore property pack.
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 September 2025 presents opportunities for informed buyers despite strict cooling measures and premium pricing.
Success requires understanding district dynamics, property types, government policies, and aligning purchases with clear investment objectives and realistic timelines.
Sources
- Singapore Residential Property Market Analysis 2024-2025
- Average House Price Singapore Data
- Singapore Property Districts Guide 2025
- Top Upcoming Singapore Neighbourhoods 2025
- Singapore Property Market Timeline
- Singapore Rental Yield Analysis
- Singapore Rental Yield Calculator
- Prime Districts Rental Yields Singapore
- Singapore Rental Market Q1 2025 Analysis
- Singapore Office Market Report