Condo market shows year-on-year price gains in February

Overall prices were up 4.3%, RCR leads with 6.4% growth whilst volumes recover.

Condominium resale prices and transaction volumes in Singapore showed a rebound in February following a slower start to the year, according to the 99-SRX Price Index for Condo Resale, with overall resale prices rising 1.4% month on month (MoM) and 4.3% year on year (YoY).

By region, prices increased 0.5% in the Core Central Region (CCR), 2.8% in the Rest of Central Region (RCR), and 1.5% in the Outside Central Region (OCR) MoM. YoY increases were at 1.8% for CCR, 6.4% for RCR, and 4.2% for OCR.

Transaction volumes also recovered, with 954 units resold in February, up 17.5% from January’s 812 units and whilst volumes remain 6.2% below February 2025, they are 6.7% above the five-year average for the month.

“The rise in both prices and volumes suggests that market activity is regaining momentum after the seasonal slowdown in January,” said Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co.

“Buyers are returning with clearer intent, and sellers continue to hold firm on pricing,” he added.

Amongst resale transactions, 50.2% were from the OCR, 29.2% from the RCR, and 20.6% from the CCR.

Sub-sale transactions, which occur before project completion, made up 4% of total secondary sales, down from January.

The highest resale price recorded in February was $16.3m for a unit at Leedon Residence. In the RCR, the top transaction was $6m at Regency Suites, while in the OCR, a unit at Botannia sold for $4.58m.

Median capital gains for resale condos reached $422,000, up $47,000 from January.

District 20, comprising Ang Mo Kio, Bishan, and Thomson recorded the highest median capital gain at $797,000, whilst District 9 of Orchard and River Valley posted the lowest at $181,000.

Overall, median unlevered returns for February were 32.9%, with District 20 achieving 49.9% and District 9 the lowest at 9.7%.

Capital gains and returns were calculated by comparing each unit’s current transacted price with its previous sale price, excluding districts with fewer than 10 matching transactions.

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