What Has Been The Most Significant Development In The Real Estate Market In 2022
TLDR In 2022, the real estate market saw significant interest rate hikes affecting home loan rates. Despite concerns, the market...
Read More
Has Singapore’s Definition of “Prime” Shifted Now That Fringe Homes Hit $2,000 PSF?
TLDR
Singapore’s definition of “prime” property is shifting as fringe homes in the Outside Central Region (OCR) now command prices above $2,000 psf, narrowing the gap with Rest of Central Region (RCR) and even Core Central Region (CCR). Decentralisation has made suburban hubs like Tampines, Punggol, and Serangoon nearly as convenient as central districts, with malls, clinics, schools, and transport within minutes. Older residents especially value proximity over prestige, reinforcing the appeal of local hubs. Meanwhile, CCR prices have flattened, and some central areas lack practical amenities compared to suburban nodes. Going forward, property value will be judged less by CCR/RCR/OCR labels and more by walkability and access to daily conveniences. Buyers should weigh lifestyle needs and local connectivity over traditional prestige, as the market increasingly rewards practical location advantages over centrality.
When long-standing labels start to change, you know something bigger is happening. In 2024, HDB dropped the “mature” vs “non-mature” classification — a sensible move, since “developed” is now hyper-local: a block can feel prime if it sits by a mall and an MRT, even if planners still call the area “ulu.” The same practical shift may be quietly happening to our older region labels: Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR).
I’m not saying those categories will vanish tomorrow. They still matter. But signs suggest they could one day feel as outdated as the old HDB labels.
People behave differently now Anecdotal, yes, but telling. Ask around and you’ll hear people name Tampines Mall, Waterway Point or NEX more often than ION Orchard or Ngee Ann City when they talk about weekend plans. Plenty of residents haven’t bothered with “going to town” in ages — local malls and neighbourhood hubs give them everything they need within a short ride or walk: groceries, restaurants, clinics and entertainment. In many places you can reach familiar brands in 15 minutes or less.
Decentralisation is still unfolding, so the trend will deepen. With distinct hubs and nodes growing stronger, is the OCR really “fringe” anymore?
Price patterns are changing Earlier in the year, the median PSF for OCR condos was about $2,554 — not far off the RCR’s $2,386. CCR units still command the highest PSF (roughly $2,800–$3,300), though that’s below the 2024 CCR average of $3,305. Meanwhile, we’re seeing fringe projects with numbers that would have been surprising a few years back: Springleaf Residence around $2,064 psf, and Canberra Crescent Residences near $1,974 psf.
Yes, these fringe units tend to be smaller and therefore lower in absolute price, but the PSF shift is clear: CCR is flattening while RCR and OCR move up. Combine that with the fact that many OCR neighbourhoods now have amenities nearly on par with central districts — and some parts of the CCR (Marina Bay, for instance) lack practical features like nearby schools — and the historical price gap starts to look less fixed.
An ageing population accelerates the change Older residents prefer not to travel far for errands or dining. That makes local convenience a real selling point, not just a comfort. URA’s decentralisation efforts anticipated this: building complete regional hubs makes sense for an ageing society and, as a side effect, equalises amenity access across districts. That reduces the premium people are willing to pay just for a “central” label.
What comes next Expect a new way of defining neighbourhood value. Instead of broad CCR/RCR/OCR tags, future assessments will likely focus on proximity to a local hub — how close is the nearest mall, train, school or clinic? That ground‑level convenience may matter far more at resale than whether a unit sits in RCR or OCR.
So when weighing an RCR vs CCR buy, or choosing between an OCR and RCR option, consider walkability to local amenities and transit over prestige labels. Those practical distances will increasingly determine market value and buyer demand.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
7 Essential Tips for Finding Your Perfect Retirement Home
TLDR Searching for a forever home should balance heart and practicality. Avoid homes with stairs, high cabinets, big kitchens, and...
Read More
The Importance of Due Diligence in Property Investing in Singapore
Investing in property can be a lucrative venture, but it also comes with its own set of risks and challenges....
Read More
6 Myths About Using Your CPF For Housing
TLDR When it comes to purchasing a house in Singapore using CPF funds, there are several myths that need to...
Read More
Top 5 Most Common Red Flags To Watch Out For When Investing In Singapore Property
Investing in Singapore property has long been considered a lucrative and stable way to build wealth. However, like any investment,...
Read More
Sentosa’s Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore’s Premier Island
Sentosa's Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore's Premier Island Here are the top 5 reasons...
Read More
The Dual Impact of Rising HDB Flat Prices in Singapore: A Balanced Perspective
TLDR HDB flat prices in Singapore have nearly doubled every 16 years, reflecting a long-term trend of appreciation averaging about...
Read More
HDB Market Outlook 2023
TLDR: Understanding the HDB Market Outlook 2023 The HDB resale market showed resilience in 2022, with significant growth in sales...
Read More
Avoid The Possibility Of Negative Cash Sales: Find Out How Much Your HDB Has To Appreciate To Steer Clear Of It!
TLDR When selling your property, watch out for negative cash sales that could leave you with no money after CPF...
Read More
Investing in Singapore Real Estate as a Foreigner
TLDR The blog post discusses the rules and regulations for foreign investors looking to purchase real estate in Singapore. It...
Read More
From Overseas to Singapore Property: 5 Steps Guide to Remitting Funds
From Overseas to Singapore Property: 5 Steps Guide to Remitting Funds 1. The first step in remitting money to Singapore...
Read More
Top 5 Reasons : Why Does Singapore Have Such Extensive Restrictions On Foreigners Purchasing Residential Property?
Singapore, a thriving city-state in Southeast Asia, is known for its stable political climate, strong economy, and strategic location. As...
Read More
Singapore Property Investing: Is It Better To Flip Or Hold?
Investing in Singapore property can be a profitable venture, but investors must choose the right strategy to maximize their returns....
Read More
5 Factors : Why Singapore’s Property Market Is A Good Hedge Against Inflation
As inflation becomes a growing concern for investors worldwide, the stability of Singapore's property market has become an attractive option...
Read More
Singapore’s Property Market: Will the Newly Proposed 2023 Cooling Measures, Including a 60% Foreigner ABSD, Make Waves or Mere Ripples?
TLDR The recent surge in Additional Buyer's Stamp Duty (ABSD) rates in Singapore targets mainly foreigners and entities, with rates...
Read More
What Type of Properties Can a Permanent Resident PR Buy in Singapore?
TLDR When it comes to purchasing property in Singapore as a Permanent Resident or Foreign National, there are specific restrictions...
Read More
Ultimate Handbook on HDB Income Ceilings for BTO, Resale Flats, and Executive Condominiums
TLDR Owning an HDB home in Singapore depends largely on income ceilings. The HDB income ceiling limits monthly household earnings...
Read More
The Top 5 Renovation Tips For Increasing The Value Of Your Singapore Property Investment
When it comes to increasing the value of your Singapore property investment, strategic renovations can make a significant difference. Here...
Read More
Is the Dream of Homeownership Becoming a Steeper Climb?
TLDR The article discusses the evolving trends in the Singaporean real estate market, focusing on the affordability and accessibility of...
Read More
Subscribe to Jayson Ang’s Singapore Property Newsletter
TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...
Read More