Are CCR Properties a Good Investment in 2025? A Gold Mine or Land Mine?
- Thaddeus
- Jun 6
- 7 min read
If you’ve been following Singapore’s property news closely, you’d realize that there has been a sudden surge in CCR (Core Central Region) properties this year.
Recently overshadowed by other trendier areas, why is there a renewed interest in 2025?
Is there something you might be missing?
Is CCR in 2025 truly a newly unearthed gold mine—or are we about to step into a beautifully tiled land mine?
Let’s uncover the truth!
PS: If you’d prefer watching a video over reading an article, watch our recent podcast discussion here!
Quick Refresher: Where Is the CCR?
The region classification is set by the URA to guide their planning decisions. CCR, in contrast with RCR (Rest of Central Region), and OCR (Outside Central Region) covers the most central and traditionally prestigious parts of Singapore. Think Districts 9 (Orchard/River Valley), 10 (Bukit Timah, Holland), 11(Newton, Novena), and parts of Downtown Core, Marina Bay, and Sentosa.
Basically where the atas folks live (just kidding).
What makes CCR unique isn’t just its location and pricing. It’s the combination of proximity to business and shopping hubs, limited supply (you can only squeeze so many condos in Orchard), and maybe a little bragging rights.
So, why the hype in 2025?
If you’re wondering if everyone is suddenly rushing to move into CCR - hold your horses.
The main reason why there’s such an influx of news and chatter about CCR this year is likely due to the number of CCR projects launching.
Approximately 2,500 new homes in five projects within the prime Core Central Region (CCR) are expected to be launched in 2025, representing a significant increase in supply from the 680 units marketed in 2024 and 630 units in 2023 (Source: The Business Times, 2025).
This means the supply entering the CCR market more than doubles 2023 and 2024 combined.
Beyond just the number of units being launched, the proportion of CCR to non-CCR launches is also significantly higher than past years. An estimated 1 in 3 launches this year are slated to be situated in CCR. In contrast, roughly 1 in 8 launches last year were in CCR (Source: EdgeProp). With that number of units available for sale and the proportion of CCR to non-CCR launches, you will inevitably expect more marketing activities by developers, property agencies, and realtors. This explains all the buzz about CCR properties this year.
So... is the hype a Gold Mine or Land Mine?
With that much chatter and news going around, it’s natural to wonder if you’re missing out.
CCR has almost been like the ‘forgotten child’ of past years, with many realtors advising their clients to avoid that region. Aside from the number of new launches entering the market, what else has changed?
A narrowing price gap between CCR vs non-CCR
Aside from the sheer number of launches this year, the other main reason driving renewed interest in CCR properties is the narrowing price gap between CCR and non-CCR (RCR and OCR) launches. In simple terms, it means that prices of prime CCR locations are no longer as far-reaching as before.
Back in 2018, the PSF (per square foot) price gap between a new non-landed sale was on average 112.6% higher than that in OCR, and 72% higher than in RCR. Fast forward to the end of 2024, the price gap has narrowed to 25% vs OCR, and 11% vs RCR (Source: PropNex Research).
Just to illustrate, this means that a 1,000 sqft 3-bedroom unit would have cost roughly:
In Q4 2018
CCR: $2.8M
RCR: $1.63M ($1.17M difference) OCR: $1.32M ($1.48M difference)
In Q4 2024
CCR: $3.1M
RCR: $2.79M ($310k difference) OCR: $2.48M ($620k difference)
With such a declining price difference, what used to be a distant dream can now become a closer reality if you’re able to purchase an OCR or RCR launch unit. In fact, with some RCR properties like The Orie and The Elta hitting upwards of $3,000 PSF, prices for some CCR units could be more affordable than in RCR.
This price compression is making CCR units look more attractive to buyers - but is this price gap the only factor to consider?
CCR/RCR/OCR classification might not be the best way to evaluate a property’s value
CCR cuts across 8 different districts with differing characteristics and demand in recent years. For example, while the prices in the Dunearn or Watten areas of District 11 have performed relatively strongly in recent years, those in Tanjong Pagar of District 2 have been lacklustre, with a flat to downward trend line.
While the areas are similarly classified as CCR, the buyers looking at the areas are of different profiles. D11 tend to have more landed properties and attract longer-term family buyers, whereas the D2 buyer might be purchasing as an investor to rent to expats working in the CBD.
Another example would be the Balestier estate - an area close to Novena, which are also classified as CCR (see image below). But you’d be forgiven if you didn’t connect Balestier with the typical prestige of a CCR area, as it is better known for its old shop houses, affordable hotels, and good food.
Yes, we always hear that location is key in real estate. However, what we have seen is that we can’t simply look at CCR as a blanket classification and categorize as good or bad in terms of the region they are in.
Muddling of properties near the CCR-RCR border
No, this isn’t about politics and how boundary lines are drawn, although they do give a good indication.
Simply put, there are some estates that are close to the border of CCR and RCR. This makes it tricky to value the property - does the CCR address justify the higher price point? Or would it make more sense to purchase an RCR property but with close access to central Singapore?
In some cases, a price difference might not be too apparent when comparing a CCR property vs an RCR property that is fairly close to each other.
One example is Concourse Skyline (CS) at Beach Road, compared to Southbank (SB) at the parallel North Bridge Road.
While both are in District 7 and <600m apart, CS is classified in CCR, whereas SB is in RCR. Both developments offer waterfront proximity and views, with CS averaging around $1,956 PSF vs SB of $1,880 PSF in the last 2 years. This mere 4% price difference can also be attributed to the age of the property, with CS achieving its TOP in 2014, four years later than SB.
Ultimately, we believe it is essential to consider a property’s location with other factors, such as connectivity, access to amenities, and the lifestyle value of living in the area.
URA’s classification provides a broad framework, but it doesn’t always reflect the evolving desirability of specific locales. Some CCR areas may have experienced reduced demand, while others remain dream home locations that are more achievable today due to the smaller price gap.
Three upcoming CCR launches to watch
Skye @ Holland - Holland Drive GLS
Skye at Holland, a CapitaLand-UOL joint consortium, is located adjacent to the new One Holland Village (OHV) mixed development. With its proximity to OHV mall and the famed Holland Village shophouses, it will appeal to those who appreciate the unique Holland Village vibes. Families will also appreciate that it isn’t heavily populated, while professionals will enjoy the easy commute to town. Furthermore, the land bid price was 31.8% lower than OHV ($psf ppr), which could lead to attractive launch prices. This is expected to launch in the later end of 2025.
Upperhouse @ Orchard Boelevard
Upperhouse at Orchard Boulevard, by UOL and Singland, enjoys a prestigious address along one of Singapore’s most iconic shopping belts. With Orchard Boulevard MRT just a short walk away, it offers unbeatable convenience and connectivity to the CBD. Designed for the discerning urbanite, Upperhouse also promises a more luxurious living, targeting buyers who want the best in city-centre living. While nearby Cuscaden Reserve witnessed lacklustre uptake, Upperhouse is likely to be more attractively priced, with the land purchased over 20% cheaper in $psf ppr.
Great World - Havelock area (including River Valley, Zion Road)
Unlike the other two individual developments earlier, the Great World - Havelock area will be witnessing five upcoming launches - with four confirmed sites, and three slated to be launched this year. As of writing, only River Green (River Valley Parcel A) by WIngTai and Promenande Peak (Zion Road Parcel B) by Allgreen have confirmed names.
This area provides a good example of the unclear delineation of regions. Situated at the edges of District 9 (River Valley) and District 3 (Bukit Merah), the sites are within a 500m radius - all within easy access to MRT stations, Great World City mall, and River Valley Primary School. Despite being in different districts, each of the projects here will have similar access to supermarkets and eateries, especially the famed and affordable Zion Road food centre.
Other development include the mixed development by CDL-consortium at Zion Road Parcel A, and Guocoland's River Valley Parcel B. Prices are also expected to be pretty similar despite the differing districts, depending on each developers' appetite. However, the key differences would lie in the land size affecting the facilities, gross plot ratio affecting the max floor level, developers' track records, and for Zion Road Parcel A, the new long-stay service apartment.
In conclusion, should you invest in CCR properties in 2025?
Both gold mines and land mines exist in the CCR sector this year, driven by the narrowing price gap but differing levels of demand. Identifying the right unit can determine whether the prices will be stagnant or enjoying healthy appreciation at the point of TOP. After all, CCR supply is increasing and will likely be met by an unequal amount of demand.
Eventually, not all CCR properties are built the same. Determining your objective, priorities, and exit strategy will help you make a better plan and decision.
If you’re considering to take advantage of the CCR opportunity, reach out to us for a more detailed analysis.
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