Summary
The 3.9% year-on-year rise in Singapore’s private home prices last year might seem modest, but certain pockets of the island are flexing impressive muscle. By examining transactions at the district level, we uncover which areas took off in 2024 and how factors like newly launched condos impacted prices across the city.
District 26 Rules
Which district rose to the top? District 26 snagged the gold with a stellar 21% year-on-year climb in condo prices. Districts 17 and 25 also posted healthy growth, but District 26’s success is particularly notable because of its prime location near Lentor MRT and multiple upcoming projects that grabbed buyers’ attention—and boosted the overall price level.
New Sales are Driving Prices Up
District | Towns | Average price (2024) ($psf) | Average price (2023) ($psf) | Annual price growth (%) |
---|---|---|---|---|
26 | Upper Thomson, Springleaf & Lentor | 2,107 | 1,741 | 21.0 |
17 | Loyang & Changi | 1,371 | 1,198 | 14.4 |
25 | Woodlands, Admiralty & Kranji | 1,242 | 1,118 | 11.1 |
23 | Choa Chu Kang, Bukit Batok & Dairy Farm | 1,698 | 1,530 | 11.0 |
22 | Lakeside, Jurong & Boon Lay | 1,733 | 1,575 | 10.0 |
19 | Hougang, Punggol & Sengkang | 1,679 | 1,533 | 9.5 |
12 | Toa Payoh & Balestier | 1,762 | 1,630 | 8.1 |
14 | Paya Lebar, Eunos & Geylang | 1,728 | 1,627 | 6.2 |
18 | Simei, Tampines & Pasir Ris | 1,646 | 1,553 | 6.0 |
1 | Raffles Place, Marina & Boat Quay | 2,124 | 2,008 | 5.8 |
13 | Braddell, Potong Pasir & MacPherson | 1,742 | 1,646 | 5.8 |
28 | Seletar & Yio Chu Kang | 1,437 | 1,368 | 5.0 |
21 | Upper Bukit Timah & Ulu Pandan | 2,057 | 1,970 | 4.4 |
15 | Tanjong Rhu, Marine Parade & East Coast | 2,120 | 2,038 | 4.0 |
20 | Ang Mo Kio & Bishan | 1,751 | 1,692 | 3.5 |
16 | Bedok & Bayshore | 1,840 | 1,784 | 3.1 |
5 | Clementi, Pasir Panjang & West Coast | 1,846 | 1,808 | 2.1 |
27 | Sembawang & Yishun | 1,256 | 1,245 | 0.9 |
8 | Little India & Farrer Park | 1,825 | 1,816 | 0.5 |
2 | Anson Road, Tanjong Pagar & Chinatown | 2,181 | 2,213 | -1.4 |
3 | Queenstown, Tiong Bahru & Alexandra | 2,000 | 2,055 | -2.7 |
10 | Tanglin Road, Holland & Bukit Timah | 2,281 | 2,375 | -4.0 |
4 | Telok Blangah, Mount Faber & Sentosa | 1,852 | 1,930 | -4.0 |
9 | Orchard Road, River Valley & Cairnhill | 2,205 | 2,325 | -5.2 |
11 | Thomson, Novena & Newton | 2,225 | 2,390 | -6.9 |
6 | City Hall & Clarke Quay | 2,130 | 2,291 | -7.0 |
7 | Golden Mile, Bugis, Rochor & Beach Road | 2,281 | 2,390 | -10.0 |
In District 26, five highly anticipated projects—Lentor Modern, Lentor Mansion, Lentoria, Hillock Green, and Lentor Hills Residences—have collectively pushed average prices upward. Each of these uncompleted condos is located near Lentor MRT Station, drawing buyers craving both convenience and long-term investment potential.
District 26 Ranking High
Not only is District 26 a hotspot for new home sales, but it also stands out in resale performance with an 11.8% year-on-year hike. That’s second to none except Districts 18 and 14, which also posted strong resale gains. As an indicator of both new and resale success, District 26 proves its appeal to a broad swath of buyers.
Parktown Residence PSF
Which Districts Might Outperform Their Peers This Year?
Developers and buyers alike should look at factors driving overall price growth. District 26 remains in the spotlight with more launches in the pipeline, reinforcing its upward price trend. Meanwhile, District 18 and the CCR may soon see their shares of the limelight if new large-scale projects draw both investors and homeowners seeking prime convenience.
Conclusion for First-Time Homeowners
First-Time Homeowners: District 25 and 17 remain among the more affordable areas, allowing you to snag a property with significant growth potential. You’ll still find a good mix of comfort and connectivity, whether you choose a brand-new project or a resale unit near an MRT station. District 26 could be a stretch budget-wise, but it’s worth monitoring for future opportunities.
Disclaimer: The data presented here is sourced from URA’s flash estimates and publicly available information. For tailored advice on real estate investments, consider speaking with a professional who can help evaluate your personal financial situation and property goals.