Singapore’s private home price index—consisting of private apartments and condominiums—has risen by 18.6% since bottoming at the onset of covid in Q1 2020. This includes a 3.2% rise in the second quarter for a total increase of 3.9% for H1 2022.
Despite a rising interest rate environment, prices of private properties have maintained an upward trajectory due to the undersupply caused by low inventory of unsold units—which has fallen to 15,805 as at the end of Q2 2022, less than half of the recent high of 36,836 units as at the end of Q1 2019—and strong demand, which is largely purchased by locals.
With prices of new launches such as Piccadilly Grand and Liv @ MB averaging above $2,000 sq ft, more homebuyers may look to the resale private market for better deals. As such, we have compiled a Singapore condominium price guide based on the first half of 2022 to highlight the top 3 cheapest and most expensive districts.
Price Guide For Condominiums In Singapore
We have used the resale transaction data from 1 January 2022 to 30 June 2022, recorded on URA’s website to compile our data. We have categorised our table based on the median prices for the different districts and size ranges.
| Districts | Property Size | ||
| >700 sq ft (Small) | 701 – 1300 sq ft (Mid) | <1301 sq ft (Large) | |
| 01 Raffles Place, Cecil, Marina, People’s Park |
$1,188,000 | $1,758,100 | $3,924,150 |
| 02 Anson, Tanjong Pagar |
$1,179,000 | $1,700,000 | $6,015,000 |
| 03 Queenstown, Tiong Bahru |
$940,000 | $1,700,000 | $2,800,000 |
| 04 Telok Blangah, Habourfront |
$850,000 | $1,689,500 | $3,104,075 |
| 05 Pasir Panjang, Hong Leong Garden, Clementi New Town |
$847,500 | $1,380,000 | $2,200,000 |
| 06 High Street, Beach Road (part) |
* | – | * |
| 07 Middle Road, Golden Mile |
$1,068,000 | $1,665,000 | $2,965,000 |
| 08 Little India |
$760,000 | $1,489,000 | $1,825,000 |
| 09 Orchard, Cairnhill, River Valley |
$1,160,000 | $2,008,888 | $3,880,000 |
| 10 Ardmore, Bukit Timah, Holland Road, Tanglin |
$1,108,000 | $1,912,500 | $4,000,000 |
| 11 Watten Estate, Novena, Thomson |
$1,050,000 | $1,744,000 | $2,810,000 |
| 12 Balestier, Toa Payoh, Serangoon |
$816,000 | $1,438,000 | $2,435,000 |
| 13 Macpherson, Braddell |
$768,000 | $1,455,000 | $2,230,000 |
| 14 Geylang, Eunos |
$700,000 | $1,300,000 | $1,700,000 |
| 15 Katong, Joo Chiat, Amber Road |
$800,000 | $1,505,500 | $2,470,000 |
| 16 Bedok, Upper East Coast, Eastwood, Kew Drive |
$805,000 | $1,262,000 | $1,900,000 |
| 17 Loyang, Changi |
$599,000 | $1,010,000 | $1,400,000 |
| 18 Tampines, Pasir Ris |
$669,500 | $1,080,000 | $1,560,000 |
| 19 Serangoon Garden, Hougang, Punggol |
$770,000 | $1,245,000 | $1,885,000 |
| 20 Bishan, Ang Mo Kio |
$877,500 | $1,525,000 | $2,090,000 |
| 21 Upper Bukit Timah, Clementi Park, Choa Chu Kang |
$663,000 | $1,600,000 | $2,200,000 |
| 22 Jurong |
$960,009 | $1,251,400 | $1,550,000 |
| 23 Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang |
$740,000 | $1,080,000 | $1,854,000 |
| 24 Lim Chu Kang, Tengah |
– | – | – |
| 25 Kranji, Woodgrove |
$594,000 | $998,000 | $1,280,000 |
| 26 Upper Thomson, Springleaf |
$925,500 | $1,250,000 | $1,795,000 |
| 27 Yishun, Sembawang |
$707,500 | $1,020,000 | $1,400,000 |
| 28 Seletar |
$703,500 | $1,188,250 | $1,754,000 |
Source: URA
(*) Indicates less than 4 resale transactions
(-) Indicates no transactions
Top 3 Cheapest Districts For Private Properties
| >700 sq ft | 701 – 1300 sq ft | <1301 sq ft |
| D25 – $594,000 | D25 – $998,000 | D25 – $1,280,000 |
| D17 – $599,000 | D17 – $1,10,000 | D17 – $1,400,000 |
| D21 – $663,000 | D27 – $1,020,000 | D27 – $1,400,000 |
If you are looking for a condominium under 700 sq ft or smaller, which is typically no larger than the size of a 3-room HDB flat, then you can get one for under $700,000 based on the median transacted prices in districts 25, 17, and 21.
For a mid-sized private residential property of 701 to 1,300 sq ft, which is typically the size of a 4-room or 5-room HDB flat, the cheapest that you can find may be around $1,000,000 in districts 25, 17, and 27.
On the other hand, for large-sized private residential property that is above 1,301 sq ft, or those that are similarly sized as executive or jumbo HDB flats, the cheapest goes for around $1,280,000 to $1,400,000 in districts 25, 17, and 27.
Some of the popular developments in these districts are Parc Rosewood (D25), The Inflora (D17), The Hillford (D21), and Symphony Suites (D27).
Top 3 Expensive Districts For Private Properties
| >700 sq ft | 701 – 1,300 sq ft | <1,301 sq ft |
| D1 – $1,188,000 | D9 – $2,088,888 | D2 – $6,015,000 |
| D2 – $1,179,000 | D1 – $1,758,100 | D10 – $4,000,000 |
| D9 – $1,160,000 | D2/3 – $1,700,000 | D1 – $3,924,150 |
On the other price spectrum, these are the priciest districts for private residential properties.
The median price for a higher-range 700 sq ft condominium costs around $1,200,000 in districts D1, D2 and D9. This is almost two times more than the smaller-sized properties found in districts 25, 17, and 21.
For a mid-sized private property ranging between 701 to 1,300 sq ft, the higher price range can be found in districts D9, D1, and D2/3 for around $1,700,000 and $2,100,000. Similarly, to the smaller-sized homes, mid-sized properties in these districts are roughly twice as expensive as the cheapest districts.
Lastly, for the larger-sized properties that are above 1,301 sq ft, the prices are as high as $4,000,000 and $6,000,000 in districts D2, D10, and D1. The difference in prices between the expensive districts and the cheapest districts is as big as 4.5 times.
Some of the popular developments in these most expensive districts are Marina One Residences (D1), Wallich Residence (D2), The Metropolitan Condominium (D3), Scotts Square (D9), and D’Leedon (D10).
The post Singapore Condominium Price Guide For H1 2022: Top 3 Cheapest and Most Expensive Districts appeared first on DollarsAndSense.sg.
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