Singapore Property Region

The private residential property market in Singapore comprises three geographical market segments:

1. Core Central Region (CCR);

2. Rest of Central Region (RCR); and

3. Outside Central Region (OCR)

The districts 9, 10, and 11 are considered the traditional housing areas for high net-worth individuals in Singapore, including a concentration of expatriates. This region features an abundance of luxury condominiums, high-end landed properties, and Good Class Bungalows, which are mainly owned by Singaporeans. Orchard Road, located in district 9, is a hub for retail and entertainment, with a vast array of international cuisine and hangout spots available for locals and tourists alike. Additionally, ION Orchard, a shopping complex with over eight levels of luxury and high street fashion stores, is a popular destination for shopping enthusiasts.

The Downtown Core is recognized as the economic heart of Singapore, with the Central Business District being the primary location for many banking, finance, and technology companies. Numerous skyscrapers in Raffles Place, Tanjong Pagar, and Marina Bay house prime office spaces for these industries, with many expatriates calling the area home. Marina Bay, located at the southern end of the center, features cultural, entertainment, and living environments, symbolizing Singapore's position as a leading business and financial hub of Asia. The Downtown Core is also home to various government institutions, including The Parliament of Singapore, the Supreme Court of Singapore, and the Singapore Exchange. Furthermore, Marina Bay Sands, one of the world's most expensive buildings in the world with the most expensive standalone casino, is located in this area, at Bayfront Avenue.

Sentosa is an island resort located off Singapore's southern coast, connected to the city by road, cable car, pedestrian boardwalk, and monorail. With over 2,000 homes, ranging from high-rise condominiums to luxury bungalows with adjoining private berths for boats, Sentosa Cove is the only enclave where foreigners can buy leasehold, landed property, subject to approval. Resorts World Singapore, a massive integrated resort with a casino owned by the Genting Group, is located on Sentosa, featuring five hotels and four kid-friendly attractions: Universal Studios Singapore, S.E.A. Aquarium, Adventure Cove Waterpark, and Dolphin Island. Other notable hotels in Sentosa include Amara Sanctuary Resort, Capella Singapore, and Shangri-La Rasa Sentosa. Palawan and Tanjong Beach, considered among Singapore's best beaches, are also located on Sentosa.

2.Rest of Central Region (RCR)

The "Rest of Central Region (RCR)" is made up of the area within the Central Region outside of postal districts 9, 10, 11, Downtown Core Planning Area and Sentosa.

Based on the Singapore district map, the RCR situated between the OCR and the CCR, is considered an intermediate, or mid-tier, region in terms of property pricing. The RCR is comprised of non-core areas in the Central Region that are outside postal districts 9, 10, 11, the Downtown Core Planning Area, and Sentosa.

The RCR is home to mid-tier private residential properties, which make it an attractive option for various buyer groups, including investors, owner-occupiers, young families, and empty nesters. The region's close proximity to the CBD, coupled with slightly more affordable property prices compared to the CCR, makes it a popular city-fringe area for young working adults and expatriates from the technology, retail, hospitality, healthcare, life science, and education sectors.

3.Outside Central Region (OCR)

The "Outside Central Region (OCR)" is made up of areas in Singapore outside the Central Region which are East Planning Region, North East Planning Region, North Planning Region, and West Planning Region.

The OCR covers approximately three-quarters of Singapore and includes mass-market condos, including executive condominiums (ECs), that are priced in the lower range. The OCR is commonly known as heartland country and is where the majority of Singaporeans reside. Rental units in the OCR tend to be more affordable, and tenants here generally enjoy larger units than those found in city condos.

The government aims to bring high-value jobs to the OCR, with plans for the transformation of Jurong into the second CBD, Punggol Digital District, and Woodlands Regional Centre. While often referred to as suburbs, this is a misnomer, as Singapore's excellent public transport system and the country's size mean that private housing in the OCR is still well-connected to the city. More and more foreigners are choosing to live in the OCR to be closer to their workplaces, in line with the government's strategy to decentralize the CBD by bringing workplaces closer to homes.

1. Core Central Region (CCR)

The "Core Central Region (CCR)" is made up of postal districts 9, 10, 11, Downtown Core Planning Area and Sentosa.

Upon reviewing the district map of Singapore, it becomes apparent that the majority of high-end, luxurious properties are situated within the CCR. Furthermore, many private residential properties within the CCR are characterized as being freehold in tenure, making it an attractive area for investors. Considered as Singapore's main prime metropolitan area, the CCR's central location, close proximity to the Central Business District (CBD), and high-quality properties result in rental rates that are generally higher than other areas throughout the island.

The RCR is also home to the high-tech business park, one-north, known as the Silicon Valley of Singapore, with its research and development, biomedical sciences (Biopolis), infocomm technology (Fusionopolis), and media industries (Mediapolis), among others.

For those looking for entertainment, Holland Village is a popular local destination in the RCR for pub and grub, offering a laid-back atmosphere, artsy vibe, and a selection of watering holes and live bands. In the East, Katong is a similar destination, with its heritage buildings, colorful shophouses, and small restaurants and unassuming, open-air pubs.

Alternatively, Buona Vista attracts visitors who prefer serene parks, natural vistas, and hilly trails, while Kampong Glam in the Rochor area is a historic district with global food offerings and hip boutiques, making it an excellent option for a day of exploration.

Private residential projects in the OCR are typically larger than those in the city, with condos typically having 300 units or more. The majority of OCR properties are 99-year leasehold properties, and developers compete fiercely to attract buyers by offering attractive pricing and show-stopping facilities that appeal to young couples and millennial families.

The OCR has much to offer in terms of leisure activities, including cycling or rollerblading along the beach at East Coast Park, exploring the many trails of Punggol Waterway Park or the Bukit Batok Nature Park, or running along the Sembawang River, among others. There are also many child-friendly places to explore, from neighbourhood playgrounds to the popular Singapore Zoo, Jurong Bird Park, and Science Park.

Map of Singapore Central Region

Map of Singapore All Regions

Source: Urban Redevelopment Authority

Source: Urban Redevelopment Authority

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