Is $3,370 PSF the New Floor? Singapore CBD Condo Prices Analyzed
Recent market reports have set the benchmark: CDL’s Newport Residences achieved an average launch price of S$3,370 psf, cementing the premium status of District 2.
But does this average tell the whole story?
If you are looking at the data, you have likely noticed a conflicting trend: Premium 99-year leasehold properties are also transacting at these levels, rivaling their freehold counterparts.
In this Singapore CBD condo prices analysis, we zoom in on the 2-bedroom market—the most liquid asset class in the district—to see where the real value lies. We break down the recent numbers to answer one question: If the market average is $3,370 PSF, why are savvy investors quietly picking up freehold units next door for ~$600 PSF less?
The 99-Year Leasehold Benchmark: Wallich Residence
To understand the value of a freehold project like Newport Residences, we must first look at the ceiling set by the current market leader in the 99-year space: Wallich Residence.
According to recent transaction data from late 2025 and early 2026, Wallich Residence has demonstrated incredible resilience. Specifically for their 2-bedroom units, the market is absorbing prices consistently above the $3,200 mark:
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February 17, 2025: A 915 sqft (2-bed) unit transacted at $3,375 PSF.
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December 30, 2025: A 1,098 sqft (2-bed) unit transacted at $3,213 PSF.
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November 10, 2025: An 861 sqft (2-bed) unit transacted at $3,239 PSF.
Wallich Residence is a phenomenal product, sitting atop the Guoco Tower. However, it is a 99-year leasehold property (TOP 2017). The fact that buyers are willing to pay these premiums for leasehold 2-bedders establishes a very strong price anchor for the district.
Singapore CBD Condo Prices in the Mid-Tier: One Bernam & Skysuites @ Anson
Looking at the broader market for 2-bedroom units, we see a clear segmentation in Singapore CBD condo prices.
One Bernam, a newer launch (99-year leasehold), is seeing healthy traction but at a lower tier. Recent 2-bedroom transactions in January and February 2025 hover in the $2,400 to $2,500 PSF range:
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Feb 10, 2025: 872 sqft unit at $2,481 PSF.
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Jan 28, 2025: 700 sqft unit at $2,523 PSF.
Meanwhile, older resale stock like Skysuites@Anson (TOP 2014) is trading significantly lower, generally between $2,000 and $2,200 PSF. This drastic price gap highlights the premium buyers are placing on “Newness” and “Luxury Status”—factors that both Wallich and Newport Residences possess.
Rental Yield Analysis: The “Flight to Quality” Effect
While capital appreciation is the long-game for freehold investors, the immediate holding power comes from rental yield. Analyzing the rental transactions for 2-bedroom units from late 2025 to January 2026 reveals a surprising trend: The more expensive “Trophy” asset is currently generating a higher gross yield.
This defies the usual logic where smaller, cheaper units produce higher yields. In District 2’s luxury market, tenants are paying a massive premium for the best product.
1. Wallich Residence: The 4% Yield Powerhouse
Wallich Residence isn’t just commanding the highest price per square foot; it is commanding exceptional rent. We found a near-perfect comparison in the high-floor 2-bedroom units:
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Sale Price: A 915 sqft unit (#56-06) transacted in Feb 2025 for $3,088,000.
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Rental Price: A unit one floor above (#57-06, same 915 sqft layout) was rented in July 2025 for $11,500/month.
Gross Rental Yield: ~4.4%
2. One Bernam: The Mass Market Stabilizer
Moving to the 99-year leasehold segment at One Bernam, the rental volume is high (indicating strong liquidity), but the yields are tighter.
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Average Sale Price (2 Bed): ~$1.8M – $2.1M (approx. $2,400–$2,500 PSF).
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Average Rental Price: ~$5,000 – $6,000/month.
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Gross Rental Yield: ~3.3% – 3.5%.
While healthy, it lags behind the premium command of Wallich Residence. Tenants at the top end of the market are less price-sensitive and willing to pay for prestige.
The Newport Opportunity: Freehold at a Leasehold Price?
This brings us to the critical anomaly in the market: Newport Residences.
If the market has accepted $3,375 PSF as the fair value for a leasehold property (Wallich Residence) where the land tenure decays daily, a freehold asset in the exact same location should logically command a premium.
Yet, a window of opportunity exists.
While the average transacted price across the district hovers near that $3,370 PSF mark, savvy buyers are currently snapping up select 2-bedroom deals at Newport Residences starting as low as $2,757 PSF.
Investor Simplified Chart: The District 2 Value Gap
You are essentially securing:
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Legacy Value: Freehold tenure in a land-scarce CBD.
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Newness: A brand new product with luxury specs.
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The “Safety Net”: An entry price nearly $600 PSF lower than the peak leasehold transactions next door.
Verdict: The Window is Closing
Market anomalies like this where a brand-new Freehold launches 20% cheaper than a neighboring leasehold are rare and temporary.
When premium leasehold comparables consistently breach the $3,300 PSF mark, it creates a “hard floor” for freehold luxury. It is highly unlikely for a freehold luxury project to trade at a discount to a leasehold project of similar quality in the long run.
The market is waking up to this disparity. The units priced near $2,757 PSF are limited and represent the “early mover” advantage before the price gap corrects itself.
Don’t wait for the market to fully price in the Freehold Premium.
Are you looking for the specific stack analysis of the 2-bedroom units currently trading below market average? Contact me today to secure the floor plan and price list before these units are taken.
Disclaimer:
The information provided in this article is for general informational purposes only and does not constitute financial or investment advice. All transaction data is based on available market records as of February 2026. Prices, availability, and unit specifications at Newport Residences are subject to change by the developer without prior notice. Rental yields mentioned are estimated based on historical data and may vary. Please consult with a professional real estate consultant for the most up-to-date information and personalized analysis.
