The private residential property market in Singapore is divided into 3 geographical market segments; CCR, RCR and OCR. They simply refers to Core-Central Region that includes district 9, 10 and 11, Sentosa and Downtown Core Planning area. Rest of Central Region and Outside Central Region.
Some buyers will want to know if their property is part of CCR or RCR, but nobody will ask if their property is part of OCR or not.
Well, living in the Central region is definitely an envy to many. Just like owning a property in The Central New York (CNY) region, for example, in the centre of New York State that includes the Syracuse Metropolitan area.
If you were to use this categorisation as a reference for pricing and statistics, we would advise you not to take these figures too seriously, especially when comparing OCR to CCR.
As the map below illustrates, OCR encompasses about 3/4 of Singapore, from east to west and even to the north. There are also numerous instances of blurred boundaries.
Core-Central Region
Let’s start with CCR. As mention earlier, it can gives you that feel good effect to be part of the “Elite neighbourhood”.
Some example of Estate or area that are included in CCR, but not shown in the map are:
- Sixth Avenue
- Bugis
- Tanjong Pagar
- Outram Park, etc
Rest of Central Region
it’s a city-fringed area, If you prefer to view it that way.
It is not always determined by geographical position; for example, Tiong Bahru appears to be a strong contender for CCR but was relegated to RCR instead.
URA draws the line; according to them, they have defined a boundaries for the Central Region. Subdivide particular areas, such as districts 9, 10, 11, Downtown Core Planning Area, and Sentosa, into CCR while leaving all other areas inside that perimeter as RCR.
Some example of Estate or area that are included in RCR are:
- Ghim Moh
- Geylang
- Siglap
- Boon Keng, etc
Outside Central Region
The largest of the three; CCR, RCR, and OCR. Do the people who live in OCR will care about the classification?
Nobody is bothered. Rather, it is the “Estate” that determines the neighbourhood in which they choose to live.
Some example of Estate or area that are included in OCR, but not shown in the map are:
- Woodlands
- Tampines
- Tengah
- Punggol, etc
Should you made a purchase solely base on CCR, RCR and OCR?
No, no, no.
Data for CCR, RCR, and OCR are used to compare the Central and Non-Central Regions. You may still use it as a reference to determine; for example, if Lentor is a good investment or whether Holland is a better option.
Aside from the 3 geographical market segments, you also should consider the proximity to MRT stations, amenities and schools, particularly primary schools.
Other things to take note will be the land tenure, type of development; Executive Condo, Mixed Development, Integrated, or simple just a private condo.
That’s not all, there are many more other attribute to determine property prices against value.
So, which property is a better investment? Which Estate/District/Segments are suitable for you to call home?
Speak with us; we will listen and recommend the most suitable investment property or simply that ideal house you’ve been striving for.
Speak to us today.