In this Stacked Pro breakdown:
- We reveal which regions saw the highest growth in $PSF and quantum
- Show how resale units are catching up — and in some cases, offer better value than new launches
- Plus: A case study of Martin Modern vs Jadescape
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Perhaps due to issues of affordability, the demand for two-bedder condos has been on the rise in Singapore. Increasingly, we’re seeing homeowners, such as small families, opt for two-bedders (or 2+1 layouts) in place of higher-quantum three-bedders.
The question now is: why not a resale two-bedder, over a pricier new launch?
In this article we’ll also look at how some resale options may be offering better value; and we’ll use Martin Modern and Jadescape as a case study.
The challenge for many buyers today isn't access to information.
It's interpreting that information in a way that makes sense for their finances, goals, and stage of life.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
Prices of two-bedder units from 2014 to 2024
Here are the prices over the past 10 years, divided by market segment. We’ll begin by looking at the price psf:
| Year | Avg $PSF by market segment | ||
| CCR | RCR | OCR | |
| 2014 | $1,974 | $1,518 | $1,177 |
| 2015 | $1,830 | $1,435 | $1,150 |
| 2016 | $1,966 | $1,416 | $1,185 |
| 2017 | $1,977 | $1,463 | $1,188 |
| 2018 | $2,218 | $1,618 | $1,276 |
| 2019 | $2,349 | $1,730 | $1,360 |
| 2020 | $2,196 | $1,735 | $1,408 |
| 2021 | $2,362 | $1,818 | $1,406 |
| 2022 | $2,468 | $1,870 | $1,561 |
| 2023 | $2,526 | $1,948 | $1,885 |
| 2024 | $2,446 | $1,954 | $1,786 |
| Annualised | 2.17% | 2.56% | 4.26% |
In terms of price psf, the OCR saw the highest annualised growth across Singapore. Conversely, the CCR saw the slowest growth; but this is not surprising as CCR properties already start at the highest baseline prices.
Next, we’ll look at prices in terms of quantum:
| Year | Avg price by market segment | ||
| CCR | RCR | OCR | |
| 2014 | $1,923,166 | $1,231,967 | $936,466 |
| 2015 | $1,731,580 | $1,132,323 | $886,994 |
| 2016 | $1,903,837 | $1,084,748 | $925,101 |
| 2017 | $1,816,017 | $1,143,623 | $969,207 |
| 2018 | $2,119,908 | $1,227,770 | $1,025,774 |
| 2019 | $2,030,030 | $1,295,567 | $1,042,938 |
| 2020 | $1,906,189 | $1,274,510 | $1,079,233 |
| 2021 | $1,942,134 | $1,397,981 | $1,122,418 |
| 2022 | $2,025,837 | $1,460,512 | $1,243,755 |
| 2023 | $2,166,347 | $1,514,990 | $1,431,870 |
| 2024 | $2,278,009 | $1,531,574 | $1,376,301 |
| Returns | 18.5% | 24.3% | 47.0% |
In absolute terms, the OCR saw the most dramatic price growth, while again the CCR saw relatively muted growth. The OCR saw prices rise from $936,000 to around $1.38 million, a sharp 47 per cent surge in a single decade (although we did see a small correction in 2023 – 2024).
Visually, here’s what the price movement over 10 years looks like:
Performances of individual regions aside, what will interest buyers is that the gaps between them have narrowed. For example, consider the CCR versus the RCR (blue ine below):
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