How Singapore prices property, and how to read it

Singapore quotes property in dollars per square foot, splits sharply between public and private housing, and prices the remaining years on a lease as a first-class variable. Any figure that ignores those three facts will mislead, so IndexProp SG is built around them.

Price per square foot is the working unit

Two flats at the same price are different purchases if one is larger. Dividing the price actually paid by the floor area actually recorded puts every flat on one scale, and it is the scale the market itself uses. The national median is currently S$603 per square foot over 24,284 resales in the last twelve months.

Public and private are two markets

HDB flats and private condominiums differ in buyer eligibility, in tenure, in how they are financed, and in price per square foot by a wide margin that each area page states with its own count and window. IndexProp SG publishes both, side by side, and never averages them: a median across the two would describe neither.

The lease is a price variable

Every HDB flat is a 99-year leasehold. As the tail shortens, CPF usage and bank financing both tighten, and the resale market prices that in decades before the lease runs out. Each area page therefore charts price by remaining-lease band, holding flat type fixed so the curve is a lease effect rather than a mix effect.

Why the mix-adjusted rate exists

Smaller and older flats carry a higher rate per square foot, so an area heavy in 3-room stock reads cheap on a raw blended rate and is not. Comparing two areas on the raw figure compares their stock composition as much as their prices. Every league table on IndexProp SG therefore ranks on each area’s own per-flat-type medians restated at the national flat-type stock mix, and withholds that figure where an area’s sales cover less than 60% of that national mix. Below the gate it is not published at all, and never falls back to the raw blended rate.

Open IndexProp SG to read any district or neighbourhood.