Property Price in Singapore Today

In every country, every city, location is the most important factor for property price. In Singapore, the same. In Singapore, location decides the property price in terms of two elements: one is its postal district, and another is its distance to a MRT station

Property Price and Postal District

The district number we mention here is not in use any more for postal service. But for historical reason, it is still being used in property market and it is quite effective.

The image below is taken from Singapore Real Estate Exchange Centre (SRX) today (30-07-2019). Singapore map has 28 postal districts. Different color represents the average per-square-foot price of private condo in that district.

In Singapore, property price is expressed in terms of dollars in per square foot ($psf). (1 sqare metre = 10.764 sqare foot).

District #1, #2, #6, #7 and #9 comprise Singapore’s Central Business District (CBD). District #9, #10 and #11 are traditionally the high end residential area.

Suppose you want to buy a condo unit of 1000 sqft, containing 3 bedrooms and 1 living room. From the above property selling price, you can estimate the price in different location of Singapore, which is roughly from $700,000 to $2,000,000+.

Property Price and MRT Station

Usually, the nearer the property is to a MRT station, the high the property price, and the nearer the MRT station is to the CBD, the higher its nearby property price.

Singapore MRT network

The image below is Singapore’s MRT network. The green color is the East-West line (EWL), red color is the North-South line (NSL), purple color is the North-East line (NEL), yellow color is the Circle line (CL), and blue color is the Downtown line (DTL). The number from 1 to 28 represent the postal districts.

Property Price along East-West line

The following data is the median $psf of condo unit within 1km distance for each East-West line MRT station. (All data below are from SRX today).

Property Price along North-South line

The following data is the median $psf of condo unit within 1km distance for each North-South line MRT station.

Property Price along North-East line

The following data is the median $psf of condo unit within 1km distance for each North-East MRT station.

Property Price along Circle line

The following data is the median $psf of condo unit within 1km distance for each Circle line MRT station.

Property Price along Downtown line

The following data is the median $psf of condo unit within 1km distance for each Downtown line MRT station.

From the above image and data, you can get an updated whole picture of Singapore property price.

Leave a comment

avatar
error: Content is protected !!