What Were the Top Singapore Done Deals From April 28 to May 5?

Singapore done deals between April 28 and May 5 saw a S$8.88 million resale at Bishopsgate Residences in District 10 emerge as the highest-value private residential transaction logged in URA caveats for the week. The 3,003 sq ft four-bedroom unit changed hands at S$2,957 psf, reinforcing the resilience of Core Central Region (CCR) prime stock even as buyers remain selective on quantum. The week's transaction tape pointed to a market where ultra-prime resales, suburban executive condominium (EC) flips, and steady Outside Central Region (OCR) demand are running in parallel rather than in opposition.

• Top transaction: S$8.88 million at Bishopsgate Residences (District 10)
• Top PSF: S$2,957 psf for the 3,003 sq ft unit
• Period covered: Caveats lodged April 28 to May 5, 2026
• Most active region: Outside Central Region (OCR), led by EC and mass-market resales
• Notable EC flip: Treasure Crest, Sengkang — gain of roughly S$430,000 over five years
• Regulatory backdrop: 60% Additional Buyer's Stamp Duty (ABSD) for foreigners; URA private home price index up 0.8% in Q1 2026

The week's caveats confirm a two-speed market: ultra-prime CCR resales remain quantum-driven and slow, while OCR mass-market and EC stock continue to trade on yield and HDB upgrader demand. For investors weighing entry points, the spread between the top CCR PSF and the median OCR PSF widened again, a signal worth tracking against URA's next quarterly release.

Why Did Bishopsgate Residences Top the Week's Transactions?

Bishopsgate Residences topped the week because it offered scarce large-format CCR stock at a PSF that undercuts new launch comparables in the same district. The development, completed by Bukit Sembawang Estates in 2014, sits on Bishopsgate off Tanglin Road, a pocket of District 10 dominated by Good Class Bungalow plots and freehold low-density condominiums. The 3,003 sq ft layout transacted is among the largest stratified residential floor plates in the area, which limits direct comparables and tends to compress PSF relative to smaller units in the same project.

The seller was understood to have held the unit since the project's launch period, suggesting a holding cycle of more than a decade — consistent with how prime District 10 stock typically rotates. Buyers in this segment are increasingly Singapore citizens and permanent residents, given that the 60% Additional Buyer's Stamp Duty (ABSD) imposed on foreign purchasers since April 2023 has effectively priced offshore demand out of routine prime resale activity. That structural shift continues to favour large local family buyers over investor-driven flips at the top end.

How Did Outside Central Region Resales Perform?

OCR resales again accounted for the bulk of caveats by transaction count, with mass-market projects in Sengkang, Punggol, Hougang, and Jurong dominating the tape. Treasure Crest, an executive condominium in Sengkang completed in 2018, saw a four-bedroom unit transact at a gross gain of approximately S$430,000 over a five-year hold — a return that underlines why ECs remain the highest-conviction trade for HDB upgraders. Riverfront Residences in Hougang and Parc Clematis in Clementi also recorded multiple sub-S$2 million transactions, with PSFs clustering between S$1,650 and S$1,850.

OCR PSF held firm in the S$1,600 to S$1,900 band for resale stock, while new launches in the same submarkets continue to clear at S$2,200 psf and above. That resale-to-new-launch gap is the single most important data point for investors evaluating entry into mass-market Singapore residential — it determines whether a buyer should chase primary issuance or recycle into recently completed projects with proven rental tenancies.

What Is the Core Central Region and Why Does It Matter?

The Core Central Region is Urban Redevelopment Authority (URA) shorthand for Districts 9, 10, 11, the Downtown Core, and Sentosa — the prime belt where Singapore's most expensive private residential stock sits. CCR matters because it is the segment most exposed to global capital flows, foreign buyer policy, and ultra-high-net-worth demand, and therefore the leading indicator for sentiment shifts at the top of the market. When CCR PSFs compress relative to the Rest of Central Region (RCR), it typically signals that ABSD friction or macro risk-off positioning is weighing on prime demand.

The Bishopsgate Residences transaction at S$2,957 psf is materially below the S$3,500 to S$4,200 psf range achieved by recent CCR new launches such as 32 Gilstead and Watten House, illustrating the persistent discount that resale CCR stock trades at versus primary issuance. That discount is what creates the value case for upgraders willing to forgo developer warranties and fresh-completion premiums.

Resale CCR stock at sub-S$3,000 psf now trades at a 20-30% discount to comparable new launches in the same district — the widest gap since 2019.

How Does the Done Deals Tape Reflect URA Price Trends?

The week's transactions sit within a Q1 2026 backdrop where the URA private residential property price index rose 0.8% quarter-on-quarter, a deceleration from the 2.3% jump in Q4 2025. CCR prices were essentially flat, RCR prices firmed by 1.1%, and OCR prices added 0.9% — a pattern consistent with the caveats lodged in this week's tape. The deceleration is being driven by cooling measures dating back to the September 2022 and April 2023 packages, alongside Monetary Authority of Singapore (MAS) macroprudential tightening on the Total Debt Servicing Ratio.

Market analysts at PropNex, ERA, and OrangeTee have flagged that transaction volumes are stabilising rather than collapsing, with full-year 2026 private home sales expected to land between 7,000 and 8,000 units in the primary market and 14,000 to 15,000 units in the resale segment. The done deals tape is the highest-frequency proxy for those forecasts — weekly caveats often telegraph the direction of the next URA flash estimate by four to six weeks.

What Is an Executive Condominium and How Does It Work?

An executive condominium is a hybrid public-private housing format administered by HDB during its first ten years and transitioning to fully private status thereafter. ECs are sold at a discount to comparable private condominiums but carry a five-year Minimum Occupation Period (MOP), restrictions on resale to Singapore citizens and permanent residents during years six to ten, and full privatisation only at the ten-year mark. The format is designed for the so-called sandwich class — households earning above the HDB BTO income ceiling but below the threshold for comfortable private condominium ownership.

The Treasure Crest transaction is a textbook example of the EC value cycle: buyers who entered at launch in 2016 and held through the MOP are now realising six-figure gains as units become resaleable to a broader buyer pool. Upcoming EC launches in Tengah and Plantation Close are expected to draw heavy oversubscription on the same logic, with developers including Hoi Hup Realty, Sim Lian, and City Developments tracking the launch pipeline closely.

What Should Investors Watch in the Next Four Weeks?

Investors should watch three data points: the URA Q2 2026 flash price estimate due in early July, the next batch of Government Land Sales (GLS) tender closings, and resale caveats at projects approaching their five-year MOP. The flash estimate will confirm whether the Q1 deceleration extends or reverses, while GLS bid intensity is the cleanest read on developer conviction at the land-banking stage. Resale caveats at MOP-eligible projects will indicate whether secondary supply is loosening enough to cap further OCR price gains.

The actionable takeaway: buyers targeting CCR resale stock have a narrowing window before the next round of new launch pricing resets comparables higher, while OCR upgraders should prioritise projects with confirmed rental yields above 3.5%. Track URA's weekly caveat data and the monthly developer sales release on the 15th of each month to time entry — these are the two highest-signal data feeds for Singapore residential decision-making in 2026.

Frequently Asked Questions

What was the top Singapore private home transaction from April 28 to May 5?

The top caveat was a S$8.88 million resale at Bishopsgate Residences in District 10, transacted at S$2,957 psf for a 3,003 sq ft four-bedroom unit.

How much ABSD do foreign buyers pay in Singapore?

Foreign buyers pay 60% Additional Buyer's Stamp Duty on residential property purchases, a rate raised from 30% in April 2023 as part of cooling measures.

What is the difference between CCR, RCR, and OCR in Singapore?

CCR covers Districts 9, 10, 11, Downtown Core, and Sentosa; RCR is the rest of central Singapore; OCR is the suburban mass-market region — categories defined by the Urban Redevelopment Authority for price reporting.

How long must EC owners hold before reselling?

Executive condominium owners must complete a five-year Minimum Occupation Period before reselling, with full privatisation only at the ten-year mark.

Where can I track Singapore residential transactions?

URA publishes caveats lodged via its REALIS database and weekly developer sales updates, supplemented by data aggregators including EdgeProp, SRX, and PropertyGuru.