Singapore property price changes for new sale non-landed properties over the last 10 years

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Singapore residential property prices

Just out of curiosity, I wanted to see how the prices of new sales (developer launches) have moved across different districts in Singapore over the last 10 years.

The product of that short but tedious exercise of compiling charts has produced the following.


All the information was obtained from Squarefoot research.

The charts show

  1. Average prices of non-landed residential new sales
  2. Number of units sold in each month
  3. Over the last 10 years

For some districts such as 6 (High Street, Beach Road, City Hall and Clarke Quay), there weren’t many new launches over the last 10 years so the price chart may be a little skewed.

For districts that have more new launches, such as district 15 (Tanjong Rhu, Meyer, Marine Parade, Katong, Amber Road, Joo Chiat and East Coast), the price chart is smoother as prices for many transactions are averaged out.

First, let’s recap on how many residential districts there are and which neighbourhoods they correspond to.

Singapore property District 1-18Singapore property District 19 - 28

 

 

 

 

 

 

 

 

 

 

Based on the collection of charts, the following can be clearly seen

  1. Prices in most districts have risen over the last 10 years. Only districts 4, 17, 21 and 23 saw price declines.
  2. The largest price increase was in District 26 where prices rose 106%.This was followed by District 8 where prices rose 100%.

Take note that these figures are based on new launch developer sales. The numbers may be skewed by averages and few units transacted in each period.

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Nevertheless, the data does present some good information.

For further detail, see the following charts and write up for all the districts.

Let’s jump straight in.


Singapore residential property district 1

District 1 consists of Cecil, Marina, Raffles Place, People’s Park and Boat Quay.

New home sale prices averaged S$2,553 psf in Jan 2018, compared to S$1,764 psf in Oct 2009.

This translates into an average of 45% increase over the period.

The most number of units sold was in Nov 2014 when 225 units at Marina One Residences were sold at an average price of S$2,241 psf.

In August 2012, 124 units were sold at V on Shenton at an average price of S$2,049 psf.

District 1

Singapore residential property district 2

District 2 consists of Anson Road, Chinatown and Tanjong Pagar.

New home sale prices averaged S$2,756 psf in Jan 2018, compared to S$2,159 psf in Feb 2008.

This translates into an average of 28% increase over the period.

The most number of units were sold in Dec 2010 when 247 units at Spottiswoode Suite moved at an average price of S$1,892 psf.

In Apr 2010, 76 Shenton also moved a substantial number of 178 units at an average price of S$1,914 psf.

District 2

Singapore residential property district 3

District 3 consists of Queenstown, Tiong Bahru, Alexandra and Commonwealth.

New home sale prices averaged S$1,819 psf in Jan 2018, compared to S$998 psf in Mar 2008.

This translates into an average of 82% increase over the period.

In Jan 2013, 385 units were sold at The Echelon at an average price of S$1,795 psf.

More recently in Apr 2017, the following few projects moved a total of 328 units.

  • Artra: 115 units at S$1,652 psf
  • Commonwealth Towers: 85 units at S$1,688 psf
  • Principal Garden: 44 units at S$1,661 psf
  • Queens Peak: 31 units at S$1,699 psf
  • Alex Residences: 21 units at S$1,941 psf
  • Highline Residences: 20 units at S$1,838 psf
  • The Crest: 12 units at S$1,650 psf

District 3

Singapore residential property district 4

District 4 consists of Telok Blangah, Mount Faber, Harbourfront and Sentosa.

New home sale prices averaged S$2,109 psf in Jan 2018, compared to S$2,098 in Feb 2008.

This translates into an average of 0.5% decrease over the period. Prices were essentially flat.

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In Oct 2009, 208 units were sold at The Interlace at an average price of S$1,033 psf.

A few months later in Apr 2010, another 108 units at The Interlace were sold at an average price of S$1,091 psf, a 5.6% increase compared to prices in Oct 2009.

In addition, 43 units were sold at Reflections at Keppel Bay at an average price of S$1,923 psf.

District 4

Singapore residential property district 5

District 5 consists of Clementi, Pasir Panjang, West Coast, Dover and Buona Vista.

New home sale prices averaged S$1,387 psf in Jan 2018, compared to S$1,159 in Feb 2008.

This translates into an average of 20% increase over the period.

However, based on the following chart, the trough over the last 10 years occurred Mar 2009 where average new home sale prices were S$679 psf.

Based on this figure, prices have risen 104%.

Recently in Feb 2017, 207 units were sold at the Clement Canopy at a price of S$1,337 psf.

Parc Riviera also saw 141 units sold at a price of S$1,270 psf.

Further back in Oct 2009, hundred trees was launched which saw 321 units sold at a price of S$939 psf.

District 5

Singapore residential property district 6

District 6 consists of High Street, Beach Road (part), City Hall and Clarke Quay.

The history of new home sales in District 6 is relatively limited.

The last available data point is Dec 2015 where 1 unit at Eden Residences Capitol was sold at a price of S$3,065 psf.


This was a record price at that point in time given the downtrend in prices in the Singapore market.

A few years back in Nov 2012, 6 units were sold at Eden Residences Capitol at an average price of S$2,958 psf.

District 6

Singapore residential property district 7

District 7 consists of Golden Mile, Middle Road, Bugis, Rochor and Beach Road.

New home sale prices averaged S$2,456 psf in Jan 2018, compared to S$1,657 in Sept 2008.

This translates into an average of 48% increase over the period.

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The most number of new units sold was on a monthly basis was in Dec 2013 where 452 units at Duo Residences were sold at an average price of S$1,995 psf.

District 7

Singapore residential property district 8

District 8 consists of Little India, Farrer Park and Serangoon Road.

New home sale prices averaged S$1,777 psf in Jan 2018, compared to S$889 in Feb 2008.

This translates into an average of 100% increase over the period.

In Apr 2016, 121 units were sold at Sturdee Residences at an average price of S$1,602 psf.

District 8

Singapore residential property district 9

District 9 consists of Orchard Road, River Valley and Cairnhill.

New home sale prices averaged S$2,897 psf in Jan 2018, compared to S$1,661 in Feb 2008.

This translates into an average of 74% increase over the period.

The month which had the most number of units sold was in Jun 2009. 421 units across a few projects were sold at an average price of S$1,392 psf.

Projects which sold more units in that month include

  • Martin Place Residences: 192 units at S$1,448 psf
  • The Wharf Residences: 106 units at S$1,186 psf
  • Parc Centennial: 42 units at S$1,176 psf
  • Luma: 26 units at S$1,632 psf

District 9

Singapore residential property district 10

District 10 consists of Tanglin Road, Farrer, Holland, Bukit Timah and Ardmore.

New home sale prices averaged S$2,677 psf in Jan 2018, compared to S$1,671in Feb 2008.

This translates into an average of 60% increase over the period.

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In Jan 2013, 260 units were sold at an average price of S$1,670 psf.

Sales at D’Leedon contributed to a large number of the units sold at 201 transactions with an average price of S$1,466 psf.

The project with the second most number of units was Liberte where 21 units were sold at an average price of S$2,536 psf.

District 10

Singapore residential property district 11

District 11 consists of Thomson, Watten Estate, Novena and Newton

New home sale prices averaged S$2,306 psf in Aug 2017, the latest period where Squarefoot provided data. This is compared to S$1,332 in Feb 2008.

This translates into an average of 73% increase over the period.

The most number of units was sold in Feb 2010 when 196 units were transacted at a price of S$1,393 psf.

Of the units sold, Cube 8 contributed most to it, moving 145 units at an average price of S$1,291 psf.

A few other projects such as Trilight (18 units sold at S$1,780 psf), Lincoln Suites (13 units sold at S$1,891 psf) and Shelford Suites (7 units at S$1,433 psf) also featured in the month.

District 11

Singapore residential property district 12

District 12 consists of Serangoon, Toa Payoh and Balestier.

New home sale prices averaged S$1,593 psf in Jan 2018, compared to S$905 in Feb 2008.

This translates into an average of 76% increase over the period.

The month which has the most units sold was Sept 2009 where 497 units moved at an average price of S$983 psf.


The Trevista was the standout development in the month where 400 units were sold at a price of S$951 psf.

Other smaller developments that moved in the month included:

  • Airstream: 63 units sold at an average price of S$1,085 psf
  • Prestige Heights: 13 units sold at an average price of S$1,405 psf
  • Vista Residences: 12 units sold at an average price of S$1,147 psf

District 12

Singapore residential property district 13

District 13 consists of Braddell, Machperson and Potong Pasir

New home sale prices averaged S$1,248 psf in Nov 2017, which is the last available data point by Squarefoot, compared to S$980 psf in Feb 2008.

This translates into an average of 27% increase over the period.

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The most significant month in the last 10 years is Apr 2013 where 602 units were sold at an average price of S$1,362 psf.

In that month, Bartley Ridge was launched and where 376 units were sold at an average price of S$1,293 psf. This was followed by Sennett Residence where 178 units moved at an average price of S$1,480 psf.

District 13

Singapore residential property district 14

District 14 consists of Sims, Paya Lebar, Geylang and Eunos

New home sale prices averaged S$1,489 psf in Jan 2018, compared to S$940 psf in Feb 2008.

This translates into an average of 58% increase over the period.

In May 2010, 527 units were sold at an average price of S$1,162 psf. The largest contributor was Waterbank at Dakota where 494 units moved at an average price of S$1,172 psf.

More recently in Mar 2017, 282 units were sold at an average price of S$1,694 psf. The higher average price was a result mainly because of Park Place Residences at PLQ where prices reached S$1,805 psf.

District 14

Singapore residential property district 15

District 15 consists of Tanjong Rhu, Meyer, Marine Parade, Katong, Amber, Joo Chiat and East Coast.

New home sale prices averaged S$1,696 psf in Jan 2018, compared to S$1,007 psf in Feb 2008.

This translates into an average of 68% increase over the period.

The month which has the highest number of units sold was Apr 2017 when 422 units moved at an average price of S$1,740 psf.

This was a result due mainly to Seaside Residences where 410 transactions were registered at an average price of S$1,738 psf.

District 15

Singapore residential property district 16

District 16 consists of Kew Drive, Upper East Coast Rd, Eastwood, Bedok and Bayshore.

New home sale prices averaged S$1,512 psf in Jan 2018, compared to S$796 psf in Feb 2008.

This translates into an average of 90% increase over the period.

Significantly, Mar 2017 saw 487 units sold at an average price of S$1,398 psf. This was due mainly to Grandeur Park Residences where 463 units were sold at an average price of S$1,393 psf.

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The Glades also saw 24 units sold at an average price of S$1,478 psf.

In Dec 2011, a total of 532 units were sold at an average price of S$1,303 psf. This was due mainly to Bedok Residences where 438 units were sold at an average price of S$1,346 psf.

76 units were also sold at Archipelago at an average price of S$1,106 psf.

District 16

Singapore residential property district 17

District 17 consists of Flora, Loyang and Changi.

New home sale prices averaged S$740 psf in Apr 2016, which is the latest available month Squarefoot has data on, compared to S$754 psf in Feb 2008.

This translates into an average of 2% decrease over the period.

The scarcity of new launches in the area means the figures should be taken with a pinch of salt as there are not enough transactions to form a meaningful average.

District 17

Singapore residential property district 18

District 18 consists of Simei, Tampines and Pasir Ris.

New home sale prices averaged S$1,108 psf in Jan 2018, compared to S$675 in Jul 2008.

This translates into an average of 64% increase over the period.


The month which had the most number of units sold was Apr 2013. In that month, 838 units moved at an average price of S$952 psf.

The biggest contributor in terms of units sold in that month was D’Nest in Pasir Ris where 648 units were sold at an average price of S$978 psf.

The following are some other projects that had units sold in the month

  • Citylife @ Tampines: 94 units sold at S$801 psf
  • Q Bay Residences: 32 units sold at S$1,080 psf
  • Watercolours: 16 units sold at S$728 psf
  • The Tampines Trilliant: 15 units sold at S$762 psf

District 18

Singapore residential property district 19

District 19 consists of Hougang, Punggol, Sengkang and Serangoon Garden.

New home sale prices averaged S$1,406 psf in Jan 2018, compared to S$879 psf in Feb 2008.

This translates into an average of 60% increase over the period.

A total of 640 units were sold at an average price of S$922 psf in July 2017.

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The biggest contributor was Hundred Palm Residences where 531 units were sold at an average price of S$842 psf.

The project with the second most number of units sold in the month was Kingsford Waterbay. 60 units were sold at an average price of S$1,226 psf.

October 2012 was also a notable month when 1,183 units were sold at an average price of S$1,075 psf.

The stellar performance was due mainly to the following projects (list is not exhaustive):

  • Kovan Regency: 336 units sold at S$1,283 psf
  • Riversails: 293 units sold at S$870 psf
  • Bartley Residences: 81 units sold at S$1,217 psf
  • Parc Centros: 75 units sold at S$1,073 psf

District 19

Singapore residential property district 20

District 20 consists of Mei Hwan, Thomson, Ang Mo Kio, Bishan and Braddell.

New home sale prices averaged S$1,662 psf in Dec 2017, compared to S$836 in Jun 2008.

This translates into an average of 99% increase over the period.

The most significant month was Oct 2013 where 650 units were sold at S$1,395 psf.

This was due mainly to Sky Vue (391 units sold at S$1,419 psf) and Thomson Three (256 units sold at S$1,358 psf).

District 20

Singapore residential property district 21

District 21 consists of Upper Bukit Timah, Ulu Pandan and Clementi Park.

New home sale prices averaged S$1,460 psf in Dec 2017, compared to S$1,693 psf in Feb 2008.

This translates into an average of 14% decrease over the period.

Due to the scarcity of new launches, the averages may not be truly representative of the market in the area.

Nevertheless, it can be observed that prices have held somewhat steady over the last 10 years save for a dip in 2008.

The most significant period was in Feb 2014 when 251 units were sold at an average price of S$1,108 psf.

This was due mainly to The Hillford where 249 units were sold at an average price of S$1,104 psf.

District 21

Singapore residential property district 22

District 22 consists of Lakeside, Jurong, Boon Lay and Tuas.

New home sale prices averaged S$1,183 psf in Jan 2018, compared to S$859in Feb 2008.

This translates into an average of 38% increase over the period.

In July 2016, 483 units were sold at an average price of S$1,352 psf.

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This was due mainly to Lake Grande where 452 units were sold at an average price of S$1,370 psf.

July 2013 was also a notable month where 681 units were sold at an average price of S$1,491 psf. This was due only to J Gateway which was the sole new launch in the month.

District 22

Singapore residential property district 23

District 23 consists of Choa Chu Kang, Bukit Batok, Dairy Farm, Hillview and Bukit Panjang.

New home sale prices averaged S$876 psf in Jan 2018, compared to S$1,008 in Feb 2008.

This translates into an average of 13% decrease over the period.

Notably, new launch sale prices in this area have fallen compared other districts.

In Aug 2017, 406 units were sold at an average price of S$1,193 psf. This was due mainly to Le Quest where 278 units moved at an average price of S$1,310 psf.

Other projects such as Sol Acres (61 units sold at S$814 psf) and Inz Residence (45 units sold at S$831 psf) pulled down the overall average.

District 23

Singapore residential property district 25

District 25 consists of Woodgrove, Kranji, Woodlands and Admiralty.

New home sale prices averaged S$772 psf in Jan 2018, compared to S$570 in Feb 2008.

This translates into an average of 35% increase over the period.


Prices in this district have stayed flat since 2013 within the S$700 to S$800 psf range.

The chart below shows how in Mar 2012, new home sale prices spiked to S$956 psf when Parc Rosewood launched.

Prices for Parc Rosewood during launch was about S$954 psf.

Subsequently, due to the poor location of the district (distance is far from the CBD), new launch prices were not able to be held high.

District 25

Singapore residential property district 26

District 26 consists of Upper Thomson, Springleaf and Mandai.

New home sale prices averaged S$1,180 psf in Jan 2018, compared to S$573 psf in Feb 2008.

This translates into an average of 106% increase over the period.

Due to the scarcity of new launches, the average prices may not be wholly representative of the market.

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The only notable month was Aug 2009 when 247 units were sold at an average price of S$917 psf.

The performance in the month was due solely to Meadows @ Pierce.

District 26

Singapore residential property district 27

District 27 consists of Sembawang and Yishun.

New home sale prices averaged S$940 psf in Jan 2018, compared to S$723 psf in Feb 2010.

This translates into an average of 30% increase over the period.

In July 2017, 298 units were sold at an average price of S$867 psf. This was due mainly to The Visionaire (60 units sold at S$829 psf), Parc Life (60 units sold at S$785 psf) and The Criterion (58 units sold at S$774 psf).

District 27

Singapore residential property district 28

District 28 consists of Seletar and Yio Chu Kang.

New home sale prices averaged S$1,276 psf in Jan 2018, compared to S$1,026 in Aug 2010.

This translates into an average of 24% increase over the period.

In July 2015, 1,141 units were sold at an average price of S$992 psf.

This was due largely to High Park Residences where 1,105 units were transacted at S$992 psf.

Some other smaller projects such as Riverbank @ Fernvale (23 units sold at S$960 psf) and Rivertree Residences (12 units sold at S$1,030 psf) also contributed to the quarter’s performance.

District 28