The condo resale market has always been a dynamic one, reflecting the pulse of the real estate sector. This September, we observed a peculiar trend: a slight increase in condo resale prices despite a significant drop in the resale volume.
Numbers and data collected from the flash report made by 99.co’s Mr. Luqman Hakim, Chief Data & Analytics Officer.
Factors influencing the condo resale volume drop in September 2023
A flurry of events and activities probably prompted the drop in September’s resale volume, the lowest volume in the past 8 months,” said Mr. Luqman Hakim
Several events and activities in September might have contributed to the dip in resale volume, marking it the lowest in the past eight months.
The launch of new BTO Flats, the Hungry Ghost Festival, the PSLE examination period, and the September school holidays all played a role in this decline.
Read more: Condo and HDB rental markets dip in volumes in August 2023
Price trends and analysis
Despite the drop in volume, condo resale prices saw an increase of 0.8% in September. When we break it down by region, RCR led the way with a growth of 1.2%, followed by CCR at 0.5%.
However, OCR witnessed a decrease of 0.4%. According to the SRX Price Index for Condo Resale, there was a month-on-month increase of 0.8% over August 2023 and a year-on-year increase of 7.6% over September 2022. All regions experienced a year-on-year price increase, with RCR leading at 8.1%.
Resale volume insights
In September 2023, an estimated 738 units were resold, marking an 18.4% decrease from the 905 units in August 2023. This volume is 35.9% lower than September 2022 and 22.0% lower than the 5-year average for September.
A regional breakdown shows that 53.1% of the volume came from OCR, 31.4% from RCR, and 15.5% from CCR. Interestingly, the percentage of sub-sale transactions to total secondary sale transactions was 10.8%, a 1.2% decrease from August 2023.
Top transacted prices
The highest transacted price for a resale unit in September was a whopping $32,000,000 at GOODWOOD RESIDENCE (Bukit Timah).
In RCR, a unit at The Cascadia was resold for S$7,260,000; in OCR, a unit at Seaside Residences went for S$4,060,000.
Read more: HDB rental prices and latest rental transactions in 2023
Capital gains and returns analysis
The median capital gain for resale condos in September 2023 was S$350,000, a rise of S$32,000 from August 2023. District 21 (Clementi Park / Upper Bukit Timah) boasted the highest median capital gain at S$894,000, while District 1 (Boat Quay / Raffles Place / Marina) had the lowest at S$14,000.
The overall median unleveraged return for resale condos stood at 29.2% in September 2023. Again, District 21 led with a return of 70.8%, while District 1 lagged at 1.1%.
Conclusion
While some home sellers are taking advantage of the current climate to realise those potential gains, they will have to tread carefully so as not to find themselves paying higher for their next property,” Mr. Luqman Hakim said.
The condo resale market in September 2023 presented a mix of trends, with prices increasing despite declining volume. As the market continues to evolve, sellers looking to capitalise on the current climate should move cautiously, while buyers should stay informed to make the best decisions.
The coming months will reveal if these trends persist or if new patterns emerge.
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Qingjian Realty and Forsea Holdings to Preview Coastal Cabana from 6 December; First Executive Condominium in Pasir Ris in Over a Decade
748-unit seafront executive condominium featuring resort-inspired living and spacious layouts thoughtfully designed for families
Prices to start from S$1,639 psf, with a mix of 3- to 5-bedroom units ranging from 872 sq ft to 1,421 sq ft
Next to Downtown East and surrounded by a full suite of family-friendly amenities, schools, and parks
Preview and e-application from 6 to 21 December 2025
SINGAPORE, 18 November 2025 – Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital are set to preview the highly anticipated Coastal Cabana Executive Condominium (EC) from Saturday, 6 December 2025. Located along Jalan Loyang Besar in Pasir Ris, the 748-unit coastal development enjoys a coveted position within walking distance to Pasir MRT and next to Downtown East, with select units offering panoramic sea views. Designed as a serene retreat within a vibrant neighbourhood, Coastal Cabana offers families the quiet luxury of generous living spaces, thoughtfully curated facilities, and seamless access to the estate’s recreational offerings.
Mr Du Dexiang, Managing Director of Qingjian Realty said, “Coastal Cabana is a much-needed addition for upgraders and aspiring homeowners who appreciate the vibrancy and convenience of this well-developed mature estate. At Qingjian, our focus has always been on building quality homes with enduring appeal that meet the needs of buyers. That commitment is reflected in what we have created at Coastal Cabana. With the uncertain future supply of EC developments in Pasir Ris over the next few years, this project is well-positioned to capture strong pent-up demand in the area.”
Mr Wang Xin, Director at Forsea Holdings added, “Coastal Cabana reflects our shared vision with Qingjian Realty of creating homes that combine thoughtful design with enduring quality. From its architectural composition to the landscaping and arrival experience, every detail has been planned to harmonise with Pasir Ris’ coastal character while providing residents with a sense of space and calm.”
The development comprises 16 residential blocks of 11 and 12 storeys, offering a mix of three- to five-bedroom units ranging from 872 sq ft to 1,421 sq ft. It provides a total of 748 car park lots and is expected to achieve vacant possession by 31 March 2029.
A Well-Connected Coastal Home in the Heart of Pasir Ris
Located in one of Singapore’s most family-friendly neighbourhoods, Coastal Cabana offers residents the rare combination of coastal tranquillity and urban convenience. The neighbourhood’s abundant green spaces and family-friendly amenities have made it one of the East’s most desirable places to call home.
Situated next to Downtown East and just minutes from Pasir Ris Park and Pasir Ris MRT, the development enjoys close proximity to a full suite of shopping, dining, and recreational options.
In the coming years, the existing Pasir Ris MRT station will serve as an interchange connecting the existing East West Line (EWL) and the upcoming Cross Island Line (CRL) – offering residents island-wide connectivity and shorter travel times to key destinations and employment hubs.
Residents will also benefit from excellent road connectivity, with the Tampines Expressway (TPE) and Pan Island Expressway (PIE) offering easy access to the rest of the island.
An Evolving Neighbourhood That Offers Something for Everyone
As part of the ongoing rejuvenation of Pasir Ris, the Urban Redevelopment Authority’s (URA) Draft Master Plan 2025 will introduce new residential, commercial, and recreationalenhancements to Pasir Ris, further strengthening the estate’s appeal and bringing greater convenience, vibrancy, and long-term value to the neighbourhood.
Set within this evolving and self-contained estate, residents will already enjoy a wealth of amenities – from seaside leisure and nature parks, to lifestyle, shopping, dining, entertainment options, as well as reputable schools.
For those with school-going children, a strong network of educational institutions can be found nearby, including Casuarina Primary School and Pasir Ris Primary School within 1km of the development. Other nearby institutions include Elias Park Primary School, Hai Sing Catholic School, Meridian Primary School, Meridian Secondary School, Singapore Institute of Technology, and the Singapore University of Technology and Design.
Homes Designed for Every Generation
Set against the Pasir Ris coastline, Coastal Cabana is envisioned as a modern coastal sanctuary where families can enjoy generous spaces, sea views, and seamless connectivity.
Thoughtfully conceived as a rare coastal sanctuary with stunning sea views, Coastal Cabana is designed for comfort, connection, and convenience. The development pairs functional layouts with luxury resort-inspired facilities – offering residents the tranquillity of coastal living and the energy of a vibrant, well-established community.
The mix of three- to five-bedroom units cater to the evolving needs of families at every stage of life – from young couples starting out to multi-generational households seeking space, comfort and togetherness. All unit types are north-south facing and feature naturally ventilated kitchens and bathrooms, with selected layouts offering flexible spaces for use such as study or flexi areas that can be adapted to suit different lifestyle needs.
Homeowners can also expect quality interior finishes with kitchen appliances from Bosch and bathroom fittings from Hansgrohe.
A Space for Connection, Framed by Nature
Beyond their homes, residents can also look forward to over 65 family-oriented amenities, including a two-storey clubhouse, four swimming pools, and a sky terrace that offers sweeping sea views.
Coastal Cabana’s expansive clubhouse is envisioned as the heart of the development’s activity, providing residents with a multitude of options for connection, play, and relaxation.
The two-storey clubhouse is one of the most striking features of the development. Designed as an expansive social and recreational zone, it offers spaces for every member of the family – including four function rooms, a karaoke room, a music room, kids club, yoga studio, and a fully equipped gym. Beyond the clubhouse are other facilities including a tennis court, BBQ pavilions, outdoor fitness park, and adventure park for children.
Coastal Cabana’s collection of swimming pools are thoughtfully designed to suit different lifestyles, from family recreation to wellness and lap swimming.
The development’s collection of four swimming pools has been thoughtfully curated to cater to different lifestyles and generations – from the 50-metre Grand Pool and Lifestyle pool for serious swimmers, to the Family Pool designed for parents and young children, and the Wellness pool with spa facilities and aqua gym for leisure and relaxation. This deliberate separation of spaces allows residents to enjoy both tranquillity and connection, echoing the development’s vision of harmonious living.
Complementing the range of facilities, the development is also distinguished by its landscaping and architectural concept, which draws inspiration from tranquil European gardens – reflected in its symmetry, manicured hedgerows, and elegant vertical features that frame the facades.
The Grand Boulevard forms the centrepiece of Coastal Cabana’s arrival experience, leading residents and guests through a resort-inspired sequence from the drop-off area to the main lobby.
The experience begins with each arrival home. The Grand Boulevard forms the heart of Coastal Cabana’s arrival experience – framing a resort-inspired flow that begins at the Grand Boulevard Lobby – an elegant drop-off area – and the adjacent Boulevard Lounge which serves as a grand welcome for guest entering the development. Upon entering the grounds, residents are greeted by a long reflective water corridor that creates a serene visual transition from the lively surroundings into a calm, contemplative space within the development.
The long reflective water corridor lined with manicured hedgerows creates a serene visual transition from the development’s lively surroundings into its calm, landscaped interior.
The common areas are thoughtfully arranged around lush, manicured courtyards framed by tall landscaped walls and hedgerows, evoking a sense of peace, privacy, and timeless elegance. Expansive green lawns and open play areas create welcoming spaces for children to play and for families to gather, encouraging outdoor recreation and community connection. Together, these elements create an environment that feels both tranquil and alive – a crafted sanctuary that changes in mood and scenery as one moves through it.
Preview and Launch Details
Previews and e-applications will commence from 6 to 21 December 2025. Prices will range from S$1.438 million (S$1,649 psf) for a 872 sq ft three-bedder, and S$1.623 million (S$1,639 psf) for a 990 sq ft four-bedder.
E-applications for first-and second-time applicants will be balloted by HDB. The results of the balloting will be made known by 13 January 2026 and applicants with a ballot queue number will be given an appointment date and time to book their units.
Sales launch will commence on 17 January 2026.
The sales gallery is located along Eunos Avenue 3.
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