Downtown Core Living: Why CBD Homes Are Gaining Momentum in Singapore

Singapore’s Downtown Core is no longer just a place to work. Over the past few years, it has evolved into a genuine residential district, supported by planning incentives, infrastructure upgrades, and a growing pipeline of high-end homes. This shift is reshaping how buyers and investors look at CBD living today.

Downtown Core: From office district to liveable city centre

Singapore’s Downtown Core has been quietly changing shape. What was once dominated by office towers is now emerging as a mixed-use city centre where people live, work, and spend their leisure time. This transition has taken place over less than a decade, driven by policy support and sustained investment into the CBD.

The shift is reflected in pricing and buyer behaviour. Ultra-prime transactions in Districts 1 and 2 have become more common, with several landmark deals setting new benchmarks for city living. These sales point to a growing acceptance of the Downtown Core as a long-term residential address, not just a corporate one.

How planning incentives accelerated the transformation

The turning point came with the Urban Redevelopment Authority’s CBD Incentive Scheme and Strategic Development Incentive. These initiatives encouraged owners of older office buildings to redevelop sites into mixed-use projects that include homes, hotels, serviced apartments, and lifestyle components.

Since the schemes were introduced, a large proportion of submitted proposals have received in-principle approval, with multiple residential projects already completed or under construction. At the same time, street-level changes have improved walkability, connectivity, and access to public spaces, making the area feel more liveable after office hours.

Transport connectivity has also expanded. Several developments now sit within reach of multiple MRT lines, reinforcing the appeal of living close to work and amenities without relying on cars.

Growing supply, steady occupancy

Residential stock in the Downtown Core has increased meaningfully over the past few years. Even so, occupancy across the prime Core Central Region remains high, suggesting demand has kept pace with new supply.

Completed developments such as Midtown Bay, Midtown Modern, and One Bernam have added diversity to the housing mix. Together with established projects like Marina Bay Residences, Wallich Residence, and Skywaters @ Anson, they have reshaped the CBD into a recognisable residential enclave rather than a fringe option.

Investment performance in Districts 1 and 2

Transaction data shows a clear recovery in sales activity after the pandemic years. New home sales in the Downtown Core reached a multi-year high in 2025, reversing the sharp slowdown seen during Covid-19 and following tighter foreign buyer rules.

Prices have also moved steadily upward over the past decade. Median prices for new condominiums in Districts 1 and 2 have recorded consistent growth, while rental levels have followed a similar trajectory. For investors, this combination of capital appreciation and rental demand has reinforced the CBD’s appeal as a long-term hold.

Landmark projects shaping the next phase

Several high-profile projects are anchoring the Downtown Core’s next stage of development. One of the most closely watched is Newport Residences, a rare freehold residential development located within the CBD. Its positioning reflects the broader shift toward owner-occupier and long-term residential demand in the city centre.

Other notable projects include branded residences and mixed-use developments that blend homes with hospitality-style services. These new launches highlight how developers are responding to changing preferences for convenience, services, and proximity to work.

What this means for buyers and investors

The Downtown Core’s evolution is still ongoing. With limited land supply, continued infrastructure investment, and a growing emphasis on liveability, the area is likely to remain a focal point for premium residential development.

For buyers, this creates an alternative to traditional prime districts, offering city views, transport connectivity, and lifestyle access in one location. For investors, the combination of scarcity and demand supports a more defensive long-term outlook compared with purely suburban plays.