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Singapore properties are classified into mainly 3 zones, The Core Central Region (CCR), Rest of Central Region (RCR) and outside Central Region (OCR).
The regions also determine the land prices in CCR, RCR and OCR. In land scarce Singapore, being close to or within the city’s financial district is one of the key reasons why private residential or commercial property in this zone would be one of the most expensive properties in Singapore, and in the world.
The Core Central Region (CCR)
This area comprises of 3 districts, 9, 10, 11 plus Marina Bay (downtown core) and Sentosa. The CCR is considered as the heart of Singapore.
The CCR region encompasses Singapore’s main prime metropolitan area, largely constituted by the CBD district where major commercial buildings are. There are full amenities within reach, with high-end restaurants, shopping malls and hotels scattered throughout.
Our take on the CCR: CCR remain the zone where foreigners like to buy their high-end properties. Being close to the financial and shopping district make it the location to find the most upmarket properties.
The RCR zone consists of the areas that sit within the central region, but exist outside of districts 9, 10, 11, Marina Bay (downtown core) and Sentosa.
The RCR is known to house mid-tier value properties with high-quality condominiums and bungalows. Even the HDBs developments in this area hold a higher value when compared to those in other regions.
Our take on the RCR: With the property prices in CCR are going through the roof, RCR became the choice of demand for affordable and good quality properties.
This region is made up of 33 areas, namely districts 16-19 and 22-28. Note that some parts of district 21 (postal codes starting with 58 and 59) are in the OCR and RCR based on this, so do verify a location’s district and region beforehand if you’re unsure.
This region houses the highest number of residential properties with higher concentrations of HDB than private property. The private residential developments here consist of mass market condominium, terraces, townhouses as well as Executive Condominiums (ECs).
Prices of the homes in these districts are lower to CCR and RCR. Despite being situated outside of the core districts, many are choosing homes in this region due to the extensive public transportation options that Singapore has.
Additionally, the government’s decentralisation plan has encouraged companies like banks and tech companies to set up offices in the regional centers, which further increases the attractiveness of homes in the OCR.
Our take on the OCR: If staying near to the centre of Singapore is not a must for you, OCT projects give you the best value for your money.
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