Is $3,000 PSF the New Normal in Singapore's City Fringe?
- City-fringe (RCR) prices nearing $3,000 psf reflect land costs and strong demand.
- New launches often set higher benchmarks than nearby resale.
- Compare psf against resale and future supply before paying a premium.
When One Marina Gardens launched 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. Just a few years ago that price was reserved for the CCR — Orchard or Marina Bay. Now it's creeping into the "city fringe."
And it's not a one-off: Meyer Blue is touching $3,200 psf for high-floor units; The Continuum sees deals between $2,600–$2,900 psf; Grand Dunman has sold 67+ units above $3M, averaging ~$2,700 psf.
| Project | Avg PSF | Top PSF | Status |
|---|---|---|---|
| One Marina Gardens (D1) | $2,953 | ~$3,200 | Just launched (38% sold) |
| Meyer Blue (D15) | ~$3,000 | $3,200+ | Selling |
| The Continuum (D15) | $2,600–$2,900 | ~$2,950 | >80% sold |
| Grand Dunman (D15) | ~$2,700 | ~$2,900 | Near sellout |
So $3,000 psf isn't the 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?
Lifestyle over labels — the CBD carries less weight; clients prefer the East Coast lifestyle, schools like Tao Nan and Dunman High, and seaside views, all in the RCR. Work has decentralised — hybrid work and hubs in Paya Lebar, Jurong and One-North mean you don't need D9 to work "prime." CCR isn't affordable for many — with CCR at $3,300+ psf and heavy ABSD, locals and PRs redirect budgets to the fringe but still want quality. Better design and supply — today's RCR launches feature integrated developments, efficient layouts and larger family units.
Is This Sustainable, or a Mini-Bubble?
My honest take: not a bubble, but a phase where only the best fringe projects justify these prices. There's a real shortage of large, well-designed family units, strong underlying demand, and selective buyers who pay top dollar only for top-tier product. Prices are supported by land costs — upcoming GLS sites (Zion Road, Margaret Drive) already price at $2,800+ psf. Risks remain from global uncertainty and rates, and if too many projects cluster around $3,000 psf, buyers may pause.
RCR vs CCR
CCR median prices rose from $2,043 psf (Q4 2024) to $2,185 psf (Q1 2025), with ultra-luxury hitting $3,318 psf in April 2025. The historical gap is narrowing: in 2019, RCR new launches averaged ~$1,900 psf versus CCR's $2,800 (a 47% gap); in 2025, top RCR launches are $2,800–$3,000+ psf, under 10% for premium projects. Nearby projects command gross yields of 2.8–3.2%.
My Advice at $1.8M–$2.5M
Don't wait for prices to return to $2,300 psf — that window is closing. But don't buy blindly at $2,900+ just from FOMO. Focus on efficient layouts, long-term rental appeal, lifestyle positioning (schools, transport, greenery, waterfront) and a reasonable maintenance and quality track record.