CCR, RCR and OCR: Singapore's property market segments explained

Singapore's private property market is officially read through three segments — CCR, RCR and OCR — and in 2026 they are moving at very different speeds.

Singapore's private property market is officially read through three segments — CCR, RCR and OCR — and in 2026 they are moving at very different speeds. In the second quarter, the city-centre Core Central Region rose 1.8 per cent, the city-fringe Rest of Central Region fell 1.2 per cent, and the suburban Outside Central Region slipped 0.1 per cent (PropAce Institutional AdvisoryResearch Desk, 2026). "The property market" is no longer one market at all.

Key takeaways

CCR, RCR and OCR are the three regions the Urban Redevelopment Authority (URA) uses to split non-landed private residential property in its price index (PropAce Institutional AdvisoryResearch Desk, 2026).
In 2Q2026, the overall URA Private Residential Property Price Index (PPI) hit 219.4, up 0.5 per cent quarter-on-quarter — with the CCR the only region in the black (PropAce Institutional AdvisoryResearch Desk, 2026).
The price ladder is steep: CCR transactions averaged S$2,443 psf, RCR S$2,078 psf and OCR S$1,552 psf (PropAce Institutional Advisoryverified, 2026).
Islandwide private prices average S$2,038 psf — 6.8 per cent below the peak, yet 33.3 per cent above the trough (PropAce Institutional Advisoryverified, 2026).
The private and public markets diverged in 2Q2026: the URA PPI rose 0.5 per cent while the HDB Resale Price Index fell 0.3 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).

What CCR, RCR and OCR actually mean

URA's PPI measures private residential property only — landed and non-landed — and splits the non-landed segment into the Core Central Region, Rest of Central Region and Outside Central Region (PropAce Institutional AdvisoryResearch Desk, 2026). The index is compiled on a base of 1Q2009 = 100 (PropAce Institutional AdvisoryResearch Desk, 2026). It does not include HDB flats (PropAce Institutional AdvisoryResearch Desk, 2026).

In plain terms: CCR is the city centre, RCR the city fringe, OCR the suburbs (Stacked Homes, 2026). (PropAce Institutional Advisoryverified, 2026) The HDB market sits outside all three labels entirely, tracked separately by the Housing & Development Board's Resale Price Index (PropAce Institutional AdvisoryResearch Desk, 2026).

Do not conflate the two indices. The HDB RPI tracks the overall price movement of public resale flats, using resale transactions registered across towns, flat types and models, also on a base of 1Q2009 = 100 (PropAce Institutional AdvisoryResearch Desk, 2026). Its methodology changed from a stratification method (up to 3Q2014) to a stratified hedonic regression (from 4Q2014) (PropAce Institutional AdvisoryResearch Desk, 2026). One index measures private homes; the other measures public flats (PropAce Institutional AdvisoryResearch Desk, 2026).

The 2Q2026 numbers that matter

URA released the final 2Q2026 PPI on 24 July 2026: the All Residential index came in at 219.4, up 0.5 per cent quarter-on-quarter (PropAce Institutional AdvisoryResearch Desk, 2026). That follows a 0.9 per cent rise in 1Q2026 — growth is positive, but it is decelerating (PropAce Institutional AdvisoryResearch Desk, 2026). Q3 2026 figures had not been published as at 1 September 2026 (PropAce Institutional AdvisoryResearch Desk, 2026).

The regional split in 2Q2026 was stark:

Landed prices rose 2.5 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).
Non-landed prices fell 0.1 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).
CCR rose 1.8 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).
RCR fell 1.2 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).
OCR fell 0.1 per cent (PropAce Institutional AdvisoryResearch Desk, 2026).

PropAce Institutional Advisory's URA caveat data fills in the price levels behind those percentages. Across the private transaction record, prime-core CCR homes have averaged S$2,443 psf, city-fringe RCR homes S$2,078 psf and suburban OCR homes S$1,552 psf (PropAce Institutional Advisoryverified, 2026). Islandwide, private prices average S$2,038 psf in 2026-Q2 — that is 6.8 per cent below the S$2,186 psf peak, but 33.3 per cent above the S$1,529 psf trough (PropAce Institutional Advisoryverified, 2026).

The new-sale premium is a big part of the story. New-launch private homes averaged S$2,304 psf against S$1,595 psf for resale — a roughly 44 per cent premium (PropAce Institutional Advisoryverified, 2026). If you are shopping, that gap decides whether you look at a launch or at resale.

One quarter earlier, the regional order flipped. In Q1 2026, the OCR saw the biggest gain at 2.2 per cent, followed by the RCR at 0.8 per cent and the CCR at 0.6 per cent (The Business Times, 2026). Meanwhile, landed prices fell 0.4 per cent in Q1 — the first decline in five quarters, swinging from a 3.4 per cent rise the quarter before (The Business Times, 2026). The rotation between quarters is exactly why "which region" matters as much as "which direction".

Private versus public: two markets, two directions

In the same quarter the two headline indices moved apart. The URA PPI rose 0.5 per cent while the HDB RPI fell 0.3 per cent (PropAce Institutional AdvisoryResearch Desk, 2026). Do not describe them as moving together (PropAce Institutional AdvisoryResearch Desk, 2026).

The HDB index has now softened for two straight quarters: 1Q2026 dipped 0.1 per cent and 2Q2026 fell 0.3 per cent (PropAce Institutional AdvisoryResearch Desk, 2026). The run tells the story: 3Q2025 at 203.7 (+0.4 per cent), 4Q2025 at 203.6 (0.0 per cent), 1Q2026 at 203.4 (-0.1 per cent) and 2Q2026 at 202.8 (-0.3 per cent) (PropAce Institutional AdvisoryResearch Desk, 2026).

PropAce Institutional Advisory's HDB resale data puts the public market at S$652 psf in 2026-Q2 — exactly at its own peak of S$652 psf, and 57.5 per cent above the S$414 psf trough (PropAce Institutional Advisoryverified, 2026). Private prices have come off their high; HDB prices are sitting on theirs (PropAce Institutional Advisoryverified, 2026). Those are very different positions in a cycle.

Why the regions are moving differently

The CCR's outperformance is not a fluke. Leonard Tay, Head of Research at Knight Frank Singapore, reads the latest figures as a more balanced market after stronger gains over the past two years, with the CCR still seeing resilient demand for premium homes and latest launches in the RCR and OCR priced in line with prevailing market expectations (Stacked Homes, 2026). "Going forward, this more sustainable and balanced phase of price growth that has been observed from 2024 onwards will likely continue," he says (Stacked Homes, 2026).

Christine Sun, Chief Researcher and Strategist at Realion Group, frames it as a long moderation. Prices increased 1.4 per cent in the first half of 2026 — the weakest half-year growth since 2020 — and the pace of bi-annual growth has moderated steadily since 1H2022 (Stacked Homes, 2026). Her read: the market is stabilising, with prices rising at a more sustainable pace (Stacked Homes, 2026).

The wider economy is doing its part. Singapore's economy grew 6.0 per cent year-on-year in Q1 2026, against a 2026 forecast range of 2.0–4.0 per cent (Cushmanwakefield, 2026). Borrowing costs have eased: the Singapore 3M-SORA fell to 1.07 per cent as of June 2026, from 1.18 per cent at the start of the year (Cushmanwakefield, 2026). Investment sales are on a record trajectory — H1 2026 volumes of S$35.2 billion already surpassed 2025's full-year total, with residential investment sales contributing S$5.3 billion in Q2 2026 (Cushmanwakefield, 2026). Cushman & Wakefield's Singapore Market Outlook H2 2026 likewise points to constrained supply, resilient occupier demand and Singapore's safe-haven status underpinning the market (Cushmanwakefield, 2026).

None of this means the market is running hot. Q1 2026 brought lower transaction volumes and fewer completions: resale volume fell to 3,225 units from 3,529 units in the prior quarter, the lowest quarterly resale volume in two years (The Business Times, 2026).

Supply, land prices and what comes next

The second half of 2026 is expected to be considerably busier. The 2H2026 GLS Confirmed List could add another 4,745 new private homes to the mix (Stacked Homes, 2026). The broader upcoming supply pipeline stands at 55,826 new private homes over the next few years (The Business Times, 2026).

Completions have been the binding constraint on the resale market. Private home completions fell to 5,619 units in 2025, the lowest since 2021, and total unsold inventory stood at 16,219 units at end-Q1 (The Business Times, 2026). In 2026, 911 units were completed in Q1 and another 5,371 are expected between Q2 and Q4 — keeping resale supply tight and steering buyers toward new launches (The Business Times, 2026).

"Several compelling new launches are expected for the third quarter, which could result in a less active secondary market," says Chu, adding that resale and sub-sale volumes may remain subdued in the next quarter, but prices are expected to remain stable, bolstered by resilient buyers' demand (Stacked Homes, 2026). ERA projects 2026 new-home sales of 8,000 to 9,000 units and 13,000 to 14,000 secondary-market transactions (The Business Times, 2026). PropNex's Fong sees prices on a "stable, albeit modest, upward trajectory": "As long as the new launches continue to book robust sales, prices will likely hold." (The Business Times, 2026) Recent policy refinements — including the removal of the 15-month wait-out period for eligible private homeowners rightsizing to HDB resale flats — could support consumer confidence and long-term market stability, in Chu's view (The Business Times, 2026).

Land prices show where developer confidence is concentrated. The top land rate at state tenders has climbed from S$1,410 psf per plot ratio a year ago to S$1,820 psf ppr in November 2025 and S$1,865 psf ppr by June 2026 — even as developer participation has thinned (Stacked Homes, 2026). The latest benchmarks: Bukit Timah Road drew eight bids at S$1,820 psf ppr (HH Investment), the second Dunearn Road site drew six bids at S$1,625 psf ppr (Wing Tai/Metro Holdings), and Peck Hay Road drew four bids at S$1,865 psf ppr (CDL/Garden Estates, pending award) (Stacked Homes, 2026).

Analysts read the thinner bid counts as developers deploying capital more selectively, focusing on sites where the buyer pool is clearly defined (Stacked Homes, 2026). Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, cites developer sales data for April 2026 putting launched-but-unsold inventory in the CCR at about 900 units (Stacked Homes, 2026). CBRE's Song, meanwhile, expects primary-market momentum to hold, given strong interest in upcoming OCR launches such as Vela Bay in the new Bayshore district and Tengah Garden Residences (The Business Times, 2026).

What the price gaps mean for buyers

There is a perception gap between what buyers think the CCR costs and what it actually does. About 60 per cent of survey respondents had a budget of S$1.5 million or less for a private home, and another 21.9 per cent had between S$1.5 million and S$2 million — more than four in five were working with under S$2 million (Stacked Homes, 2026). Yet URA caveat data cited by PropNex shows 52.8 per cent of new and resale non-landed homes sold in the CCR in 2025 transacted below S$2.5 million (Stacked Homes, 2026). Some aspiring owners, the research suggests, may wrongly assume all condos in the prime districts are beyond their budgets (Stacked Homes, 2026).

But a price tag is not the whole picture. Buying something in the CCR is quite different from finding the size, layout and location you actually need (Stacked Homes, 2026). That trade-off is why some buyers now see the RCR as striking a better balance between convenience and affordability (Stacked Homes, 2026).

The segment averages make the trade-off concrete: CCR at S$2,443 psf, RCR at S$2,078 psf, OCR at S$1,552 psf (PropAce Institutional Advisoryverified, 2026). Add the new-sale premium — S$2,304 psf for launches against S$1,595 psf for resale — and the resale market becomes the value option in every region (PropAce Institutional Advisoryverified, 2026). For buyers watching the public side, the HDB alternative is hardly cheap: resale flats average S$652 psf, at their own peak, after a 57.5 per cent run from the trough (PropAce Institutional Advisoryverified, 2026).

FAQ

What do CCR, RCR and OCR stand for?

CCR, RCR and OCR are the three regions URA uses to split non-landed private residential property: the Core Central Region, the Rest of Central Region and the Outside Central Region (PropAce Institutional AdvisoryResearch Desk, 2026). They correspond to the city centre, the city fringe and the suburbs (Stacked Homes, 2026). (PropAce Institutional Advisoryverified, 2026) The URA PPI reports them separately and excludes HDB flats (PropAce Institutional AdvisoryResearch Desk, 2026).

Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines

Which region performed best in 2Q2026?

The CCR rose 1.8 per cent quarter-on-quarter, the only region in positive territory (PropAce Institutional AdvisoryResearch Desk, 2026). The RCR fell 1.2 per cent and the OCR slipped 0.1 per cent, leaving the overall private index up 0.5 per cent at 219.4 (PropAce Institutional AdvisoryResearch Desk, 2026).

Statutory Source: Singapore Statutes Online (AGC) — Primary Legislation & Real Estate Regulations

How do the URA PPI and HDB RPI differ?

The URA PPI measures private residential property — landed and non-landed — on a base of 1Q2009 = 100, while the HDB RPI tracks public resale flats, also on a base of 1Q2009 = 100 (PropAce Institutional AdvisoryResearch Desk, 2026). The two do not include each other's markets and should not be conflated (PropAce Institutional AdvisoryResearch Desk, 2026). In 2Q2026 they even moved in opposite directions (PropAce Institutional AdvisoryResearch Desk, 2026).

Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines

How much more expensive is the CCR than the OCR?

Across the private transaction record, CCR homes average S$2,443 psf against S$1,552 psf for OCR homes (PropAce Institutional Advisoryverified, 2026). The RCR sits between the two at S$2,078 psf (PropAce Institutional Advisoryverified, 2026). Islandwide, private prices average S$2,038 psf (PropAce Institutional Advisoryverified, 2026).

Statutory Source: Singapore Statutes Online (AGC) — Primary Legislation & Real Estate Regulations

Is the private market at its peak?

No. Islandwide private prices are 6.8 per cent below their S$2,186 psf peak, though still 33.3 per cent above the S$1,529 psf trough (PropAce Institutional Advisoryverified, 2026). HDB resale, by contrast, is exactly at its peak of S$652 psf (PropAce Institutional Advisoryverified, 2026).

Statutory Source: Housing & Development Board (HDB) — Official Housing Policies & Resale Guidelines

By the numbers

``` Private PSF momentum by district — QoQ %

D11 +28.2% ██████████████████████ D26 +11.8% █████████ D25 +7.6% ██████ D12 +6.2% █████ D08 +5.9% █████ D20 +4.1% ███ D28 +3.8% ███ D02 +0.2% █ D27 -0.1% ░ D19 -0.5% ░ ```

District	Median PSF	QoQ	YoY	Txns (3mo)
D11	$2,849	▲ 28.2%	▲ 28.3%	341
D26	$2,282	▲ 11.8%	▲ 6.3%	263
D25	$1,348	▲ 7.6%	▲ 6.3%	69
D12	$1,956	▲ 6.2%	▲ 5.6%	106
D08	$2,024	▲ 5.9%	▲ 17.9%	45
D20	$2,060	▲ 4.1%	▲ 5.0%	144
D28	$1,707	▲ 3.8%	▲ 9.8%	113
D02	$2,465	▲ 0.2%	▲ 20.5%	35
D27	$1,423	▼ 0.1%	▼ 13.0%	141
D19	$1,753	▼ 0.5%	▲ 5.0%	551

_Data: PropAce Institutional Advisory analysis of URA/HDB transaction data — rolling 3-month average PSF, private residential, 2026-06..2026-08. Directional; confirm before acting._

Sources

URA caveat data, compiled by PropAce Institutional Advisory— 2026-Q2.
URA caveat data, compiled by PropAce Institutional Advisory.
HDB resale data (via data.gov.sg), compiled by PropAce Institutional Advisory— 2026-Q2.

References

Cushmanwakefield (2026) 'Investment MarketBeat Report | SG'. Available at: https://www.cushmanwakefield.com/en/singapore/insights/singapore-marketbeat/investment-marketbeat-report (Accessed: 1 September 2026).
Cushmanwakefield (2026) 'Singapore Market Outlook H2 2026 | Real Estate Trends & Investment Insights | SG'. Available at: https://www.cushmanwakefield.com/en/singapore/insights/singapore-market-outlook (Accessed: 1 September 2026).
Stacked Homes (2026) 'A New Survey Reveals What 77% Of HDB Owners Want Most In Their Next Home — And It’s Not Price Or Space'. Available at: https://stackedhomes.com/a-new-survey-reveals-what-77-of-hdb-owners-want-most-in-their-next-home-and-its-not-price-or-space/ (Accessed: 1 September 2026).
Stacked Homes (2026) 'Singapore Condo Prices Just Had Their Slowest First Half Since 2020 — Here's What It Means For Buyers'. Available at: https://stackedhomes.com/singapore-condo-prices-just-had-their-slowest-first-half-since-2020/ (Accessed: 1 September 2026).
The Business Times (2026) 'Private home prices rise 0.9% in Q1, setting stage for steady 2026'. Available at: https://www.businesstimes.com.sg/property/private-home-price-growth-picks-0-9-q1-more-previously-estimated-ura (Accessed: 1 September 2026).

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Frequently Asked Questions

What do CCR, RCR and OCR stand for?

Which region performed best in 2Q2026?

How do the URA PPI and HDB RPI differ?

How much more expensive is the CCR than the OCR?

Is the private market at its peak?

Statutory References & Citations

Housing & Development Board (HDB) (2026). Housing and Development Act (Cap. 129). Singapore: Ministry of National Development.
Singapore Land Authority (SLA) (2026). Land Titles Act (Cap. 157) & Conveyancing Registration Framework. Singapore: SLA.

Statutory Disclaimer: This guide is published for strategic, educational, and institutional planning purposes only and does not constitute formal legal, taxation, or financial advice. All property transactions, stamp duty remissions, and financing structures should be formally verified with qualified Singapore legal counsel and certified tax advisors.

Contains information from Statutory Property Regulations, IRAS & MAS Schedules and URA Singapore Planning Framework accessed from iras.gov.sg, mas.gov.sg & data.gov.sg, made available under the Singapore Open Data Licence version 1.0.