When One Marina Gardens launched recently at an average of $2,953 psf, even I had to take a second look. That’s a Rest of Central Region (RCR) project — not Core Central. Yet buyers snapped up 38% of units on launch weekend.

One Marina Gardens is the first residential development in Marina South. PHOTO: KINGSFORD GROUP

Just a few years ago, that kind of price was reserved for the Core Central Region (CCR), places like Orchard Road or Marina Bay. But now? We’re seeing that price tag creeping into the Rest of Central Region (RCR), the so-called “city fringe.”

That’s a strong signal that buyers are willing to pay CCR-level prices for the right product, even if it’s technically outside the traditional “prime” core.

And it’s not just a one-off.

- Meyer Blue is already touching $3,200 psf for high-floor units.

- The Continuum is seeing deals between $2,600–$2,900 psf.

- Grand Dunman has sold over 67 units above $3M, with an average close to $2,700 psf.

So no, $3,000 psf isn’t the new norm across the board yet — but we’re not far off, especially for flagship projects in D15, Mountbatten, Tanjong Rhu, and Marina South.

Why Are Buyers Paying More Outside the Core?

Here’s what I’ve observed, and what buyers themselves are telling me:

1. They’re Choosing Lifestyle Over Labels

The CBD doesn’t carry the same weight it used to. Today, a lot of my clients prefer:

- The East Coast lifestyle

- Schools like Tao Nan, Kong Hwa, Dunman High

- Breezy seaside views and park connectors

All of that exists in the RCR — not the CCR.

2. Work Has Decentralised

Hybrid work, regional business hubs in Paya Lebar, Jurong, One-North — you no longer need to live in District 9 to work in a “prime” area.

3. CCR Isn’t Affordable for Many

Let’s be real — with CCR prices hitting $3,300+ psf, the ABSD load for foreigners and PRs makes it tough to enter.

Many locals and PRs are now redirecting their budgets to fringe areas — but they still want quality. So if a fringe project looks, feels, and performs like a CCR project, they’re buying it.

4. Better Design, Better Supply

Today’s RCR launches feature:

- Integrated developments
- Efficient layouts
- Branded architecture
- Larger family-sized units

Is This Sustainable, or Are We in a Mini-Bubble?

That’s the million-dollar question but here's my honest take.

There’s a real shortage of large, well-designed new units — especially in family-friendly fringe areas.

There’s strong underlying demand. Singapore’s housing market is still very resilient.

Buyers today are selective. They’ll pay top dollar, but only for top-tier projects with great layouts, amenities, and locations.

Prices are supported by land costs. Upcoming government land sales in fringe areas (Zion Road, Margaret Drive) are already pricing sites at $2,800+ psf, so we can expect new launches to maintain high prices.

Risks remain. Global economic uncertainty and rising interest rates could slow things down. Plus, if too many projects cluster around $3,000 psf, buyers might get cautious and pause.

So while I don’t believe this is a bubble, I do believe we’re entering a phase where only the best fringe projects will justify these prices.

How Does RCR Pricing Compare to CCR?

CCR Recovery

Median prices in the Core Central Region rose from $2,043 psf (Q4 2024) to $2,185 psf (Q1 2025), with ultra-luxury units hitting $3,318 psf in April 2025.

Upcoming CCR Launches to Watch

- Aurea (River Valley)

- W Residences Singapore – Marina View

- Holland Drive GLS site

Note: The trade-off is that CCR units tend to be smaller and more expensive overall, while RCR projects often offer larger layouts and lifestyle perks.

Historical Price Gap:

This is where it gets interesting. In 2019, the average RCR new launch was ~$1,900 psf vs. CCR’s $2,800 psf (a 47% gap).

In 2025, top RCR launches are $2,800–$3,000+ psf, with the gap narrowing to under 10% for premium projects.

Rental Yields and Investment Returns

Rental Market Outlook

While new launches like The Continuum have yet to see rental transactions, nearby projects (e.g., Amber Park, Meyer Mansion) command gross yields of 2.8–3.2% at current prices.

Investor Tip: Focus on projects near MRT stations, business hubs, and lifestyle amenities for stronger rental demand and future capital appreciation.

If you're looking at a $1.8M to $2.5M budget, here’s my advice..

- Don’t wait for prices to go back to $2,300 psf — that window is closing fast.

- But also — don’t buy blindly at $2,900+ psf just because you’re afraid of missing out.

Focus on projects with efficient layouts, long-term rental appeal, lifestyle positioning (schools, transport, greenery, waterfront) and reasonable maintenance and quality track record. 

Curious if your $2M budget still goes far in the city fringe?

If you want my personal take or help navigating this market, let’s chat. I can help you find the right project that fits your budget and goals — before prices climb even higher.