Singapore condo price gap smallest since 1998
Condominium prices in Singapore’s prime and city-fringe areas are the closest they have been in nearly three decades, according to a report analyzing resale market data since 1998. The analysis shows that the average price of a comparable unit in the Core Central Region (CCR) now costs just 19% more per square foot than a unit in the Rest of Central Region (RCR). This gap of 1.19x is the narrowest since the records began in 1998, a significant shift from a peak premium of 64% recorded between July 2007 and July 2008.
Methodology Behind The Comparison
The analysis focuses exclusively on resale condominium transactions, excluding new launches, executive condominiums, and outliers. To ensure a fair comparison, the report groups units by size and age, avoiding the direct comparison of older, smaller developments against newer, larger ones. The latest figures cover the 12 months ending 18 October 2026 and include 2,081 resale transactions in the CCR and 3,502 in the RCR. The study tracks this price gap over time using rolling 12-month periods at quarterly intervals.
While the report accounts for differences in unit size and age, it notes that factors such as individual projects, floor levels, and lease tenure can still affect the results. The sample sizes become smaller once the data is broken down into comparable groups. Trends in the new launch market, which the report acknowledges tell a different story, are not included in these findings.
Declining Premiums Over The Last Decade
The price gap between prime and city-fringe resale condos has narrowed considerably in recent years. A decade ago, a comparable resale condo in the CCR cost approximately 40% more per square foot than one in the RCR. Five years ago, the premium was at 36%. By last year, it had fallen to 21% before narrowing further to just 19% today.
Between 2016 and 2021, the premium changed little, slipping only from 40% to 36%. Over the following five years, however, the gap closed by 17 percentage points. This rapid decline in the five years following 2021 suggests a sharper shift in market trends compared to the period before that.
Implications For Buyers And Sellers
By using the same methodology to track these metrics, we can compare today’s premium against previous market peaks, as well as prices from 10 years ago or even just last year. This approach allows for a consistent analysis of how the gap has evolved, revealing that the current 19% difference represents a significant historical benchmark for the market.
