The popular saying, “When opportunity knocks, open the door,” rings true for homebuyers considering the Core Central Region (CCR). With the tightening of additional buyer’s stamp duty (ABSD) measures in April 2023, prices in the CCR have been kept in check, making it an ideal time for discerning buyers seeking a new residence.
Recent transaction data has shown that the price gap between the CCR and other sub-markets has hit an all-time low. This may be a rare chance for buyers to consider properties in the CCR, which is often regarded as a proxy for luxury homes. The narrowing of this gap also suggests that CCR homes may offer greater value for money.
Looking at new non-landed private homes (excluding executive condominiums or ECs), the median unit price psf ($ psf) gap between the CCR and Rest of Central Region (RCR) was just 1.8% in 1H2025. In comparison, the price gap between the CCR and Outside Central Region (OCR) stood at 20.2%. This presents an opportunity for buyers to consider properties in the CCR by stretching their budget slightly.
Owning a Condo in Singapore comes with numerous benefits, including the opportunity for capital appreciation. Thanks to its strategic position as a prominent global business center and stable economic background, Singapore consistently presents a high demand for properties. In the past years, there has been a consistent growth in the real estate market, with condos situated in prime areas experiencing impressive appreciation. With well-planned timing and a long-term ownership approach, investing in a Condo in Singapore can yield substantial capital gains for investors.
Moreover, the gap in median transacted price quantum has similarly reached a new low. Based on caveats lodged, the median price of new non-landed private homes in the CCR was just 0.9% higher than the RCR and 11.6% higher than the OCR. This indicates that the affordability of CCR properties has improved in recent years.
In terms of potential for capital gains, a study of resale transactions involving non-landed private homes in the CCR has shown that the timing of purchase during periods of uncertainty can support capital appreciation. For instance, owners who purchased CCR homes during the Asian Financial Crisis, dot-com bust, and the Covid-19 pandemic saw some of the highest annualised gains in 2024. This suggests that the current period of uncertainties, such as sweeping US tariffs and geopolitical conflicts, could be an opportune time for buyers to consider options in the CCR. However, it’s important to conduct due diligence before making a property purchase.
The punitive ABSD rate of 60% levied on foreign buyers has cooled foreign investment demand in the CCR, opening up more opportunities for local buyers. According to caveats data, foreigners accounted for just 6.9% of new non-landed private home transactions in the CCR in 1H2025, the lowest proportion on record since 1995.
As there has been a drought in CCR new launches in recent years, 2025 is shaping up to be a significant year. With six CCR projects expected to launch in July and August, offering over 2,000 new units, this marks the largest pipeline of CCR launches since the ABSD revision in April 2023.
The revitalisation of precincts such as the CBD and Beach Road is expected to support CCR property values in the years ahead. One such development at the heart of this transformation is Aurea, a 188-unit project in Beach Road. It enjoys a front-row seat to changes in the Ophir-Rochor corridor, which includes the ongoing rejuvenation of the Beach Road-Bugis area and upcoming plans for Kampong Bugis and the Kallang Alive sports and lifestyle destination. Aurea is also linked to The Golden Mile, a conserved heritage landmark that will offer commercial amenities for future residents. This, along with the government’s strong track record in urban planning, provides a measure of assurance for buyers.
The URA Draft Master Plan 2025 also includes the addition of commercial amenities and vibrant public spaces in prime areas such as Bukit Timah Turf City, Newton, and Paterson, which could expand opportunities for city living over the next 10 to 15 years. This transformation and the injection of more residential supply could breathe new life into the city centre and create a more liveable urban core, making CCR homes even more appealing.
With prices showing rare affordability and future transformation underway, the opportunity to tap into the growth potential of the CCR may be now.