2021’s Property Crunch: Not All Hope Is Lost
First‑time buyers and fresh investors found themselves in a bit of a pickle in 2021. With house prices on a relentless climb, who can spot a discount or even snag a bigger condo? But hey, the market isn’t all doom and gloom—some neighbourhoods are holding their own.
Top 10 Districts Managing to Keep the Price Tag in Check
- Hillview Heights – Known for its scenic views, prices rose slower than average.
- Maplewood – A family‑friendly area that’s seen steady growth.
- Riverside Lakes – Offers waterfront charm without the steep price hike.
- Elm Street – A historic district that keeps its cost growth tempered.
- Northgate – A newer development that’s been surprisingly affordable.
- Sunset Valley – Sun‑loving residents enjoy modest price increases.
- Brookside – Quiet streets with a gentle rise in property values.
- City Centre West – Urban conveniences without the sky‑high cost.
- Lakewood – Lakeside living that stays within budget.
- Greenfield – Green spaces and affordable homes keep parents happy.
While the overall market may feel like it’s on a never‑ending treadmill, these districts offer a breath of fresh air. Whether you’re a first‑time buyer or a new investor, keeping an eye on pockets of steadiness can put a smile on your shopping spree. Happy house hunting!
A note on the list ranking
How We Rank Properties (Every Deal Counts)
When you peek at our rankings, it’s all about overall appreciation – no special “new‑launch” label gets a shiny badge. We treat every sale the same, whether it’s a fresh build or a resale.
But Wait, We Do Count New Launches… Then We Kick Them Out
Inside each entry you’ll see a side‑by‑side note:
- What the figures look like with new launches included.
- What they look like once we strip those launches off.
This dual breakdown gives a clearer picture of the resale scene in Singapore – and trust us, the order can flip depending on whether you’re counting the shiny new units.
Why Are Some Numbers Out of Whack?
Ever notice a jump from one year to the next? It’s usually because the transaction volume changes. When the resale market is bustling, the prices per square foot (PSF) drop compared to a year with more new launch deals, because those new builds pull up the averages.
We Keep It Honest (and Honest)
Our approach is clear: we present both tables – the full picture and the resale‑only view – so you can see the difference head‑on.
Time‑Slice Comparison: Jan‑Jun 2020 vs. Jan‑Jun 2021
We took an average span of six months – from winter 2020 to summer 2021 – and stacked the two periods side by side. That way, you instantly spot the swing in appreciation and the impact of new launches.
Bottom line: the more resale deals, the lower the PSF, because the newer launches usually cost more. But we give you both angles so you can decide which view feels more “real” to you.
1. District 01 (Raffles Place, Chinatown, Boat Quay)
Price movement including new launches:
Why District One’s Real Estate Is Feeling a Bit Fuzzy
Let’s dish out the scoop on why no new launches are popping up in District One and why buyers aren’t biting.
1. Competition From the New‑Fresh Condos
Look over at One Bernam in District Two – units there start at just $1.3 million. That price is a punch to the pulse of any resale unit up for sale in District One.
- Same high‑floor feel
- Modern amenities
- Bigger price‑point, faster resale
2. The CBD’s Family‑Friendly Limitations
District One feels more like a one‑way street for investors than for families. The buzz, crowds and noise don’t make it a cozy home cradle.
Meanwhile:
- HDB upgrade‑ers – families on the rise.
- Only 28% drop in transaction volumes this year.
3. WFH + a Hint of Work‑Away‑From‑Home
With many working remotely, staying in the CBD’s hotspot became a non‑essential expense. COVID‑19 left it feeling a little less “commuter” and a little more “work-at-home” – not a winning combo.
4. Developers Feeling Nuanced
Developers are cautious: the pandemic knocked down the flow of foreign workers; remote work is now a long‑term gig. They’re hesitant to push new listings into the CBD market.
Bottom Line
Prices are likely to stay on a quiet playlist until the pandemic soundtrack changes. Stay tuned…
2. District 14 (Geylang, Paya Lebar)
Price movement including new launches:
Real‑Estate Buzz: From 2020 to 2021
Ever wonder how the real‑estate market feels over a single year? Grab a coffee—there’s a neat little story hiding in the numbers!
2020 Snapshot
- Price per Square Foot (PSF): $1,651
- Think of it as the “gold standard” for the era—prices were high, optimism was soaring.
2021 Patch‑Up
- PSF after the shift: $1,480
- That’s a solid 10.36 % slide—a tidy minus ten‑ish from the previous year.
What’s the Real Take‑away?
- Downward dives in housing prices can feel like a slow, but steady, descent—think of a kite that’s a bit lighter on a rainy day.
- But hey, lower prices can be a blessing for buyers—time to snag that dream home before the numbers climb again.
So, 2020 marked the high‑point in PSF, and 2021 saw a clear, slightly folksy dip—perfect for investors looking to pivot or buyers hoping for a better deal.
Price movement excluding new launches:
What’s Really Going On in District 14’s Property Market
2020 vs. 2021 – The Numbers Don’t Lie
Why the price jump? In 2021 a lot more of the sales were resales (117) compared to new launch sales (458). New launches usually carry a higher price per square foot, so with fewer of those, the overall average dipped.
If you isolate the resales, you’ll notice prices actually went up—they’re the real story behind the numbers.
District 14 – A Rolling Tide of New Launches
The Penrose Surprise
Bottom Line
3. District 20 (Ang Mo Kio, Bishan)
Price movement including new launches:
Price Per Square Foot in 2020 vs 2021
Ever wonder how the value of your home or an investment property changed over the past year? Let’s break it down in a nutshell.
Numbers That Matter
- 2020: $1,703 per square foot
- 2021: $1,533 per square foot
- Percent Change: -9.98 % (a drop of almost 10%)
What Does a –9.98 % Drop Signify?
When the price per square foot dips, it can mean anything from a market slowdown to a shift in buyer demand. For home sellers, it might trigger a price adjustment, while for buyers it could signal a sweet spot for negotiation.
Why the Numbers Matter to You
- Home Appreciation: Accurate figures help gauge how much your property has grown—or shrunk—over time.
- Investment Insight: Rental landlords can use these stats to align rental rates with market trends.
- Strategic Planning: Real‑estate professionals can tweak marketing strategies based on changing cost dynamics.
Bottom Line
In a nutshell: 2021 prices were a whole lot cheaper per square foot than 2020. That’s your snapshot. Happy investing—or if you’re selling, now might just be the time to sharpen your pitch!
Price movement excluding new launches:
Rising Resale Prices in District 20: A Twist in the Tale
While the numbers on paper show a high‑level climb, the story behind the price tags is far more interesting than a simple percentage change.
2020 vs 2021 – The Numbers in Plain English
- 2020 price per square foot: $1,253 psf
- 2021 price per square foot: $1,419 psf
- Overall 13.25 % increase
The Real Detective Work
Why does 2021 look so different from 2020 in the grand totals? The devil is in the detail—resale transactions outnumbered new launches: 68 resales versus 321 brand‑new sales.
New sales usually fetch a higher price, so the sheer weight of resales kept the overall figure lower even though the market was real hungry.
Resale‑Only—The Hidden Growth
- When you peel back the veneer and examine “just resales,” the chart flips sides.
- Resale prices in the area jumped by 13.25 %.
- It’s a clear signal that buyers are willing to pay more for resale homes.
Why the Surge? Unpacking the Mystery
The area’s % discrepancy can be traced to: 1) fewer new launches (the only boutique, Lattice One, dubbed celeb) and 2) buyer distraction toward District Seven.
Don’t miss out on an old‑school condo—think of it as a relic worthy of JadeScape nostalgia from 2018. It may now be the perfect time to give District 20 a second look.
The Bottom Line
When we scrub the new launch numbers clean, the resale market in District 20 clearly climbs by 13.25 %. That’s a bullish sign for the area—one that buyers and investors will want to remember.
4. District 18 (Tampines, Simei)
Price movement including new launches:
Whoops! The Tenant Price Tumble of 2021
In a tiny slice of the real‑estate timeline, prices took a nose‑lunge from $1,326 per square foot in 2020 down to $1,195 per square foot in 2021. That’s a 9.88% drop—think of it like your favorite pizza sauce fractionally redeploying itself.
What the Numbers Really Mean
- 2020 peak: $1,326/psf – a hot market sizzling with buyers riding the wave.
- 2021 trough: $1,195/psf – a bit of a dip, but still comfortable for most renters.
- Percentage change: -9.88% – roughly a 10% price shrinkage, which is a considerable swoosh but not a full-blown crash.
Why the Drop?
Behind the numbers are a cocktail of rising interest rates, supply‑chain hiccups, and a sudden surge of online work that made landlords rethink the “in‑person” perks. The good news? Renters who locked in leases in 2020 might feel a sigh of relief as the market steadied.
What Happens Next?
As in any market drama, it’s all about the next act. Will prices climb back up like a tide? Or will we see a more even distribution of rents? Only time (and a decent data analyst) will tell. In the meantime, keep your eye on the screen and hope for a sweet spot between affordability and investment returns.
Price movement excluding new launches:
What’s New in District 18
Hey there, real‑estate lovers! Let’s roll up our sleeves and dive into the latest buzz in District 18.
Quick Snapshot (June 2021)
- 2020 average: $969 psf
- 2021 average: $1,022 psf
- Change: +5.47 % – that’s a neat bump!
Why the Numbers are Climbing
The big jump? Pasir Ris 8 is the star of the show, pushing prices upwards six times over a “long weekend.” Think of it like a concert where every encore leaves the crowd a little richer.
Hold Up – There’s More!
By the end of July, the average price in District 18 leapt to $1,442 psf. How did we miss it? Because our original article wrapped up in June 2021.
What’s Next?
- New launches are on the horizon – Pasir Ris 8 continues to shake things up.
- Parc Central Residences, an Executive Condominium, is kicking off soon.
- These projects haven’t hit the numbers yet, but expect the tide to rise even higher.
Is District 18 Getting Fatigue?
Every year, fresh projects spring up. From Treasure at Tampines (sounds like a game of Monopoly, right?) to the lifestyle hotspot of Pasir Ris and its Downtown East vibe, the area is buzzing. With Tampines the crown‑queen of the east and Pasir Ris the lifestyle monarch, demand stays solid as a well‑tight screw.
Potential Concerns
With all this activity, the “supply” side might get a bit crowded. Picture a grocery aisle after the holiday rush–you’ll have to move fast if you want the best spot.
Bottom Line
District 18 is riding a wave of up‑and‑away prices, but watch this space: fresh projects can keep the market moving—sometimes too fast for the average buyer.
5. District 19 (Punggol, Sengkang)
Price movement including new launches:
Real Estate Price Trend: 2020 → 2021
Take a quick look at how the market pulled back across the turn‑of‑the‑year. Below’s the snapshot:
- 2020: $1,455 per square foot (psf)
- 2021: $1,347 psf
- Drop: -7.42 % overall
What Does That 7.42% Mean?
Let’s break it down in plain terms. Imagine you’re buying a 1,000 sq ft office space. Under the 2020 price, you’d pay:
- $1,455 × 1,000 = $1,455,000
Fast‑forward to 2021, and the cost dips to:
- $1,347 × 1,000 = $1,347,000
That’s a savings of roughly $108,000 – a tidy 7.4% cut in your tag‑budget.
Why the Price Fell?
In 2021, a combination of market saturation, softer demand, and shifting buyer priorities nudged prices down. The effect was similar to a gentle rain that cools the over‑heated economy.
Quick Takeaway
- Prices decreased by 7.42% from 2020 to 2021.
- Buyers could shave off almost $110,000 on a 1,000 sq ft space.
- The dip signals a more balanced market that could favor new entrants or renegotiations.
Staying in the loop means you’re better positioned to spot the next wave of opportunity.
Price movement excluding new launches:
Price Buzz: Punggol & Sengkang on the Rise
2020 2021: A Quick Look at Numbers
- PSF in 2020: $1,068
- PSF in 2021: $1,165
- Increase: 9.08 %
What People Have Been Saying…
Back in the day, folks pegged areas like Punggol and Sengkang as a bit of a “remote, inaccessible, and boring” spot. Realtors carried the whispers from places like the Ola EC (March 2020) all the way back to the Florence Residences (2019). The meme was simple: it’s “ulu” – devoid of cool vibes.
The Reality Check
There’s a lingering rumor that the neighbourhoods are facing a bit of an oversupply. But if you look past the chatter, the evidence tells a different story. Demand is rising hard, as shown by the 9.08 % price jump. And trust me, that’s not just a fluke.
Why Future Looks Bright
With projects like the Punggol Digital District on the horizon, District 19 is set to feel the buzz even more. It’s a long‑haul upgrade, but the movement so far shows the market’s appetite is real.
So next time someone calls Punggol and Sengkang “ulu”, you can just smile, drop the 9.08 % stat, and say, “Nah, it’s getting pretty hot.”
6. District 13 (Potong Pasir, Macpherson)
Price movement including new launches:
Real Estate Rollercoaster: A Quick Dive Into 2020‑2021 Price Shifts
Spot the Numbers
We’re looking at a classic case of the real‑estate price change—
- 2020: $1,691 per square foot
- 2021: $1,626 per square foot
- Change: ‑3.84 %
What Does That Mean?
Think of a cozy apartment that cost you $1,691 per square foot last year. Fast forward to 2021, the price slid to $1,626. That’s a dip of almost 4 percent—not a lot, but enough to feel it when you’re walking through a new listing.
Why the Drop?
Real‑estate markets can flap like a kite in a windy season. Factors that typically nudge prices up or down include:
- Interest rates – Lower rates often lift demand, but if they were pulled or if lenders tightened, price pressure eases.
- Supply and demand balance – A sudden influx of houses on the market can flood buyers, pulling prices down.
- Economic shifts – The wider economy, employment rates, and consumer confidence can all tilt the scales.
Bottom‑Line Takeaway
In short, a ‑3.84 % change isn’t a headline grabber, but it signals a more slight shift in the real‑estate market. If you’re buying or selling, it’s a reminder that the market tends to linger around a steady baseline, with only minor bumps up or down.
Price movement excluding new launches:
District 13: The Hidden Gem of the City Fringe
Quick Market Snapshot
- Average price in 2020: $1,354 per square foot
- Average price in 2021: $1,449 per square foot
- Year‑on‑year rise: 7.02%
So what makes District 13 such a quirky spot? Picture this: it’s on the outskirts, but it still jags a beat behind the glitter of the city core. Let’s dig into the tales that keep it under the radar.
Potong Pasir’s Slow‑Mo Introduction
Think it was always a shopping paradise? Nope. Potong Pasir did not get a single mall until The Poiz popped up about five years ago. Before that, residents were basically doing the “hunger strike” for local snacks.
Macpherson: Old‑school Chill Meets Urban Allegory
Macpherson sits pretty close to the city centre and boasts plenty of amenities. Yet, it’s still stuck in a nostalgic time‑warp, often leasing under the “vintage vibe” label. Diving into a fresh pop‑up? Think of it as a time‑machine tour rather than the next big hotspot.
The Woodleigh Residences: A Brief Eclipse
When Woodleigh Residences launched in 2019, the district lit up for a moment. After that, the buzz died down, and everything returned to “under the radar” mode.
Why District 13 Should Still Be on Your Radar
All that aside, District 13 holds a trade‑off many can’t ignore: it’s one of the most affordable options for living near the CBD without paying the steep prices of the downtown core.
- Affordable – Get into the city life with a thin slice of the premium cost.
- Convenient – Only a 10‑minute drive to Orchard, so you can enjoy the highs and lows of the city without the drama.
- Friendly – Low‑stress, easy to navigate, and a place where you can truly unwind.
In short: District 13 is the secret slice of southern city life that might be just what you’re looking for.
7. District 12 (Balestier, Novena, Toa Payoh)
Price movement including new launches:
2020 vs 2021: Price Per Square Foot in a Nutshell
Hey there! Let’s take a quick peek at the numbers that’ve been swimming around our favorite metric—price per square foot. Spoiler: things are a tad cooler.
- 2020: $1,429 psf
- 2021: $1,416 psf
- Percentage change: –0.91%
Bottom line: the price dipped by less than one percent. That’s like minus a couple of tiny peas in a salad of real‑estate numbers—noticeable to a picky nerd but probably not enough to make anyone jump off the street. Still, it’s a little reminder that even a single tenths‑of‑a‑percent shift can taste a bit different for homeowners, investors, and mortgage‑hungry buyers alike.
Price movement excluding new launches:
2020 → 2021: A Quick Look at Property Prices
This slice of Singapore’s market gives us a pretty neat snapshot: $1,353 psf in 2020 climbing to $1,377 psf in 2021 — a modest 1.77 % uptick. Not a blockbuster, but a tidy dent in the numbers.
Why the Resale Zone Wins
In this neighbourhood, resale flats are the reigning champs. All thanks to the buzzing Toa Payoh Central — a mixed‑use town centre that throws a mall, restaurants, banks, a bus interchange, and a MRT station into the mix. It’s the kind of spot that just keeps the footfall coming.
Private Properties: Stuck in the Slow Lane
Private homes, on the other hand, have pretty much been on pause. COVID‑19 didn’t stir the pot, and there’s been no big ticket launch in the area.
- District 12 may look central and built‑up, but that’s all.
- URA’s Master Plan isn’t pulling any new plans out of a hat.
- It’s the classic “what you see is all you get” situation.
With no shiny developments on the horizon, the room for a dramatic price jump is slim.
What This Means for Buyers
If you’re hunting for a brisk appreciation, keep your eyes on markets that’s actually planning new projects. Here, the best you’ll get is a little bump, if any.
Curious for more tech tips? ALSO READ: 5 Crucial Truths About the Property Market in 2021 – it’ll help you think outside the property box.
8. District 02 (Chinatown, Raffles Place)
Price movement including new launches:
Housing Price per Square Foot: 2020–2021 Snapshot
Here’s a quick look at how the average price for each square foot of housing changed from 2020 to 2021. The numbers reveal a modest uptick, underscoring a steady, though relatively calm, market.
- 2020: $2,287 psf – the baseline price per square foot.
- 2021: $2,335 psf – a slight rise from the previous year.
- Percentage Change: 2.10 % – the growth rate between 2020 and 2021.
Why It Matters
Even a 2 % increase might feel like a big deal when considering the total value of a property. It’s a sign that, while the market isn’t soaring, it’s still moving forward snippet by snippet.
Price movement excluding new launches:
2020 vs 2021: What the Numbers Are Saying
In 2020 the market clocked in at about $1,833 psf, sliding up to $1,858 psf by the next year. That’s a gentle bump of 1.36 %—a reminder that, yes, prices still have a positive vibe.
District One & Two: The Backyard Twins
These two districts are practically neighbors—think parking spill‑over vibes. What works in one, almost always trickles into the other. That said, District Two has a few bragging cards.
Why District Two Has a Minor Edge
- New projects like One Bernam have injected fresh energy, raising the area’s profile.
- There are fewer older resale properties, especially in Chinatown, so bargain‑hunters keep coming. A lean inventory often makes the market feel like a low‑risk playground.
- Less competition can translate into more affordable prices—good news for budget‑savvy buyers.
Still, the trend shows that most buyers—particularly family units in 2021—are looking elsewhere outside the CBD, hoping to find the perfect nest.
Bottom Line
Whether you’re eyeing District One or two, keep your ears open: the market’s subtle shifts can mean the difference between a quick catch and a missed beat. Happy hunting!
9. District 11 (Newton, Thomson, parts of Bukit Timah)
Price movement including new launches:
What’s Happening With The Rent Numbers in 2020 and 2021?
Grab a coffee, because it’s almost as exciting as finding out your favorite pizza place finally adds vegan options!
Spotlight on the Numbers
- 2020: The average price per square foot (psf) was a solid $1,700.
- 2021: Things got a bit pricier – $1,737 psf.
- Change: That’s a modest 2.18% increase, the kind of bump you’d notice if you look closely but not enough to cause a full-blown panic.
Why the Small Hike Matters
So, what does a 2.18% jump mean? Think of it like your afternoon coffee costing a little more. It’s noticeable to tenants and landlords alike, pushing budgets a touch harder while still keeping the market relatively stable.
Bottom Line for Tenants
Renters: Hang in there – the market’s not straining too much. Landlords: Keep an eye on the trends because even small surges can add up over long leases.
And the Takeaway
Even a tiny uptick in the housing market can ripple through everyone’s day. Keep an ear to the ground, stay informed, and remember: in the grand scheme of things, 2.18% isn’t the end of the world—but it’s a data point that matters.
Price movement excluding new launches:
Coastal Shifts in 2020-2021: A Quick Property Pulse
So, let’s break down the numbers that jazzed up the market in 2020 versus 2021: a 2.22 % uptick — from $1,625 psf to $1,661 psf. Pretty small, but it’s a neat ripple that tells us something about buyer sentiments.
District Showdown: 9 stole the spotlight
While District 11 used to be the talk of the town, District 9 blew that away with a trio of fresh launches:
- Irwell Hill Residences – a sleek splash in the city.
- Avenir – a modern twist on classic living.
- Kopar at Newton – right near the bustling Newton MRT.
With these movers, people’s focus drifted away from District 11 for a bit. But hey, demand didn’t go quietly; it just edged up a tad.
Peaks Ahead: The new player on the block
Hold on tight—Peak Residence on Thomson Road (launched April 2021) is about to shake things up. Once the momentum kicks in, prices are expected to climb.
Why the buzz? Family buyers, breathe easy
If you’re a family looking for that space to stretch out, the Bukit Timah area is still sweet spot. These buyers value the “breathing space” that homes in this locality offer, and that’s keeping the market humming.
10. District 17 (Changi, Loyang)
Price movement including new launches:
Price Per Square Foot: A Tiny Yet Tasty Rise
In 2021, landlords and buyers alike saw a modest bump in square‑foot price. The numbers might not scream “hollywood blockbuster,” but that 3.14% climb from the previous year is enough to keep folks at their financial desks chuckling.
What the Numbers Tell Us
- 2020: $954 per square foot
- 2021: $984 per square foot
- Percentage change: 3.14 %
Why It Matters
Even a three‑point‑thousand‑fourth percentage change can shake up loan calculations, resale values, and that one friend’s “I’m buying a house!” post.
P.S.
If you’re watching the market, remember: a tiny percentage flip can mean a whole new playlist of “How do I afford this?” conversations.
Price movement excluding new launches:
District 17: The Airport’s Lovable Hangout
When District 17 first opened its doors, the real‑estate buzz was all about the airport and the recent debut of Changi Business Park. Landlords were itching to lease space to jet‑setters, and homeowners were swooning over the easy jet‑access as the ultimate perk, especially after the dazzling Changi Jewel was tossed on top of the skyline.
Why The Fever Has Dried Up
Fast forward to the pounding Covid‑19 months, and the once‑thrilling vibe has cooled into a mild drizzle. Investors have swapped their stethoscopes for other hotspots, and because there weren’t any banging new projects to keep the price tags jangling, the numbers only ticked up a modest 2.70% – from $889 psf in 2020 to $913 psf in 2021.
That Slapped‑On Price Rise? Maybe Not So Simple
- Think of it like a nightclub whose hottest floor‑plans get sold last: the “price jump” is really just a few overpriced penthouses making an entrance.
- Conversely, a reset to a lower price might be because the early sales were tiny studio units looking for a bargain, and later on three‑ and four‑bedrooms slipped through with a different tag.
- So, comparing year‑over‑year new sales feels like looking at a movie double‑track, missing the whole storyline.
Looking Ahead
Unless the pandemic zig‑zags into a new calm, District 17’s price romance will probably stay in the slow‑kiss phase … but hey, who knows? Maybe a fresh splash of development will turn the tide.
Next Stop:
Stick with us for the next chapter where we’ll slice the data from pre‑Covid to today through a fresh perspective – a quantum dive to see if we’re missing any subtle mood shifts in this lively district.
