The Government has announced two changes to the Seller’s Stamp Duty (SSD) for residential properties:

(a) An increase in the holding period from three to four years, and

(b) increase of the SSD rates by four percentage points for each tier of the holding period.

These changes will take effect for all residential properties purchased on and after 4 July 2025, 12.00am. The revised SSD will not affect HDB owners due to the Minimum Occupation Period for HDB flats.

The Government has announced two changes to the Seller’s Stamp Duty (SSD) for residential properties:

• An increase in the holding period from three to four years, and
• An increase of four percentage points in SSD rates for each tier of the holding period.

These changes will take effect for all residential properties purchased on or after 4 July 2025, 12:00 a.m. The revised SSD will not affect HDB owners, as it is subject to the Minimum Occupation Period for HDB flats.

This reversion to the pre-2017 SSD holding period of four years aims to reduce speculative demand by lowering the number of sellers who flip their homes after just three years.

According to IRAS, the SSD for residential properties is payable for properties acquired after 20 February 2010. In most instances, the date of purchase/ acquisition of a property refers to: 

1. 1. Date of Acceptance of the Option to Purchase* or
   2. Date of Sale and Purchase Agreement or
   3. Date of Agreement for Lease (for new HDB flat) or
   4. Date of transfer to a beneficiary where the property was originally held on trust for non-identifiable beneficial owner(s) or
   5. Date of Transfer where the above (a), (b), (c) and (d) are not applicable

 *Excludes an Option to Purchase that is subject to the execution/ signing of the Sale and Purchase Agreement

ERA’s Take on the Changes:

“These adjustments to the SSD framework will help reduce speculative activity, although they will affect only a small minority of buyers. We welcome the changes and believe they will complement broader measures, such as increasing land supply, to foster a sustainable market.

Since most homebuyers are genuine owner-occupiers or longer-term investors, this measure is a gentle touch rather than a heavy-handed approach on the overall market. It aims to stabilise any spikes caused by short-term investors. It is not designed to crack down on the market but to reduce the froth from investors who sell shortly after the third year.

Notably, the elevated interest rates since September 2022 have eroded meaningful profits for property investors, which may have led them to extend their holding periods, especially now that interest rates have eased in recent months.

The property tax revisions introduced in 2023 have also resulted in higher taxes on non-owner-occupied residential properties, which may have contributed to this trend as well.

Investors have shifted towards a medium- to long-term holding strategy to increase rental income while waiting for prices to reach their preferred levels before selling. This requires greater endurance, but most now have that capacity and plan their exit strategies accordingly,” said Marcus Chu, Chief Executive Officer, ERA Singapore.

Table 1: Seller Stamp Duty Schedule

Source: MND, MOF, MAS, ERA Research and Market Intelligence

While more owners are selling after holding their homes for three to four years in recent years, they remain a minority.

There has been a significant jump in sellers who sold their homes after holding for more than 3 years but up to 4 years since 2021.

According to URA caveats, in 2020, only 358 sellers sold their non-landed homes after holding them for three to four years; however, by 2024, this number had surged to a peak of 2,104 sellers. In 1H 2025, sellers who had held their non-landed homes for more than 3 years but up to 4 years accounted for 858 transactions, or 14.7% of the total transactions.

Despite this increase, the majority of homeowners continue to sell only after holding their properties for five years or more.

In 1H 2025, about 72.1% of homeowners sold their homes after five years. This trend is further supported by SingStat data, which shows that the proportion of owner-occupied residential households remained high at 90.8% in 2024.

Table 2: Breakdown of Non-landed private homes sold by holding period

Source: URA, ERA Research and Market Intelligence

Outside Central Region saw the highest volume of homeowners selling within 3-4 years

Among the regions, the Outside Central Region (OCR) saw the highest volume of homeowners selling within 3-4 years, followed by the Rest of Central Region and the Core Central Region. This could be largely due to the more palatable price quantum of OCR homes compared to the other regions.

Chart 1: Breakdown of Non-landed private homes sold by Market Segment

Source: URA, ERA Research and Market Intelligence

Higher interest rates and property tax saw more investors extending their holding periods despite significant profits

Looking at the median gross profitability of non-landed homes by holding period shows that while there are significant profits to be made after holding for three to five years, sellers who held their properties for more than five years saw the highest profitability.

Table 3: Median Gross Profitability of Non-landed private homes sold by holding period

Source: URA, ERA Research and Market Intelligence       

Notably, the elevated interest rates since September 2022 have eroded meaningful profits for property investors, which may have led them to extend their holding periods, especially now that interest rates have eased in recent months. The property tax revisions introduced in 2023 have also resulted in higher taxes on non-owner-occupied residential properties, which may have contributed to this trend as well.

Chart : 3-month Compound SORA

Source: MAS, ERA Research and Market Intelligence       

In conclusion

With the introduction of additional Buyer’s Stamp Duty tiers in April 2023, the residential market has shifted primarily towards local and owner-occupier demand.

Alongside increasing economic uncertainty in recent months, buyers have become more cautious, and more now view property as a long-term investment. We are likely to see property investors, who often buy and sell their units within three years, most affected by this change. However, the majority of homebuyers, who are owner-occupiers and long-term investors, are unlikely to be impacted.

ERA welcomes the adjustments to the SSD and expects the impact to be marginal on the overall market, as demand is primarily from owner-occupiers. The SSD revision will work alongside other policies, such as increased land supply, to support a more sustainable and stable housing landscape.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

Co-written By Egan Mah & Stanley Lim

It’s the classic narrative of Singapore’s housing landscape: dating, getting married, and then moving into a newly completed Build-to-Order (BTO) flat as newlyweds. However, this familiar route isn’t always accessible to everyone, whether by personal choice or due to circumstances beyond their control.

Thankfully, for those who are unable to enjoy shared ownership of a property with a spouse, there are still avenues to enter Singapore’s property market with a trusted someone – be they a live-in partner, close friend, or family member. This guide will explore the various housing options, eligibility criteria, and key considerations for co-owning a Singapore property even when legal marriage isn’t on the cards.

Why is property co-ownership outside of marriage a consideration for some Singaporeans?

There are numerous reasons why some Singaporeans might opt to co-own a residential property outside of marriage.

While some aspiring homeowners may choose to do so due to practical concerns, such as financial constraints or caregiving responsibilities towards a disabled and/or elderly family member, others may be motivated by personal circumstances. Moreover, not all aspiring homeowners fall within the conventional definitions of family or marital status; yet they too are also seeking pathways to co-ownership.

For instance, a widower who has found love again may choose not to remarry to avoid the hurdles of legal marriage. Accordingly, they might choose to co-own a property with their new partner, which would enable them to build a shared home, sans the bureaucracy and formalities.

From a purely financial perspective, there is also a compelling case for co-ownership outside of marriage, given the robustness of Singapore’s property market. Property has long been regarded as a reliable investment asset locally, owing to its history of consistent appreciation. Between 2021 and 2025 alone, HDB flats and private homes have experienced significant upward momentum, as evidenced by the sharp 41.3% (142.2 to 200.9) and 30.1% (162.2 to 211.1) increases in their respective price indices.

Chart 1: HDB resale price index (RPI) and private residential property price index (PPI) from 1Q 2021 to 1Q 2025

Source: URA, HDB, ERA Research and Market Intelligence

In this light, property co-ownership transcends merely fulfilling housing needs; it also represents a strategic decision for long-term financial security. This is especially relevant for those who may not have children of their own and/or lack familial support in later stages of life.

However, given the increasing proportion of singles in Singapore’s resident population, personal choice and/or a desire for freedom are likely the main factors influencing interest in alternative paths to homeownership, including co-ownership arrangements.

Chart 2:  Growth in single-person households as a proportion of total resident households (2000 – 2024)

Source: SingStat, ERA Research and Market Intelligence

These beliefs tie in with a greater preference for single living as well, especially among Singaporeans seeking flexibility and privacy. Based on official SingStat figures, the number of single-person resident households has risen by over 200% from 75,400 in 2020 to 236,200 in 2024. Likewise, the share of single-person resident households has also seen a notable increase, doubling from 8.2% in 2000 (75,400 of 915,100 households) to 16.1% in 2024 (236,200 of 1,463,400 households).

Therefore, given the increasing prevalence of singlehood among Singaporeans, it is reasonable to suggest that there may indeed be a growing need to reimagine local homeownership beyond the traditional couple-centric model.

The Singapore Government has taken steps in this direction, with the most recent change being the expansion of public housing options for singles. A key policy revision in the second half of 2024 now allows singles – or, for co-ownership purposes, groups of up to four singles – to purchase 2-room Flexi HDB flats in any housing estate, including prime locations.

However, different homeownership requirements and considerations will apply depending on whether one is considering co-owning an HDB flat, an executive condominium (EC), or private housing.

What are the laws, rules and considerations for co-owning different residential properties for joint-singles?

Buying an HDB flat will require all parties to be at least 35 years old.

While HDB offers numerous eligibility schemes to support various demographic groups in their housing journey, single buyers interested in co-owning a flat need only focus on one: the Joint Singles Scheme.

Introduced in 1990, the Joint Singles Scheme allows eligible Singaporean men and women at least 35 years old to jointly purchase an HDB flat or Executive Condominium (EC). However, those who are widowed or orphaned may qualify from the age of 21, but only for resale Prime flats, unclassified resale flats, and new Standard and Plus flats.

For the purposes of this piece, we consider joint single households to be living arrangements involving two to four unmarried individuals of any gender. Additionally, if you intend to apply under the Joint Singles Scheme, it is important to take note of the following requirements:

Table 1: Joint singles eligibility criteria for HDB and EC flat purchases

Source: HDB, ERA Research and Market Intelligence

*Unclassified resale flats refer to HDB homes sold before the October 2024 sales exercise that do not fall under either Standard, Plus, or Prime classification categories.

Private home ownership is less cumbersome.

Unlike HDB flats or Executive Condominiums, purchasing private property as co-owners is not subject to specific eligibility criteria. However, co-buyers must consider the manner of holding or, more simply, how ownership is legally shared. This is particularly important for inheritance, as the selected holding method determines how the property is passed on after a co-owner’s death.

What are the different manners of holding or ownership types, and how do they matter in inheritance planning?

So, there are two property ownership types in Singapore, namely holding the property in Joint Tenancy and Tenancy-in-common. For HDBs, applicants under the Joint Singles Scheme must be registered as co-owners (i.e. the owner-occupier structure is not allowed).

While joint tenancy is the default holding method for HDB flats, buyers can opt for tenancy-in-common. However, this may come with higher legal fees due to the higher complexity of arrangements and the potential for disagreements.

1. Joint Tenancy

Under a joint tenancy structure, there is an undivided interest in the property. All owners are regarded as owning the entire property collectively, with no separate or distinct shares. When one owner passes away, the rights of survivorship come into effect. This means that the surviving owner automatically inherits the rights to the full share of the property, irrespective of any existing will.

This is with the exception of when both parties pass away at the same time. In such cases, the order of death becomes legally significant. However, when it is impossible to determine (e.g., simultaneous death in an accident), Singapore law presumes that the younger person passes away later. Hence, the younger party will inherit the entire property before passing it on to their next of kin or will beneficiaries.

For example, Jamie and Ashley are both unmarried 35-year-old singles with no family, who decide to buy an HDB flat together under a joint tenancy arrangement. If Jamie passes away, Ashley will inherit full ownership of the flat.

Below, we have summarised the characteristics of both manners of holding:

Table 2: Summary of manner of holding of property

Source: ERA Research and Market Intelligence

2. Tenancy-in-Common

Under the tenancy-in-common structure, owners can agree on their respective ownership percentages, provided they total 100%. For instance, if one party pays for 70% of the property and the other covers 30%, they hold a 70-30% share. These shares are detailed in the title deed. Upon death, each owner’s share will pass to their respective estate rather than to the surviving owner.

If all owners pass away simultaneously, each owner’s share will be allocated to their respective beneficiaries under their wills or according to the Intestate Succession Act if no will exists. The assets will be divided in accordance with the act.

Table 3: Common beneficiaries under the Intestate Succession Act*

Source: Singapore Statutes online (sso.agc.gov.sg)
* The Intestate Succession Act does not apply to Muslims. The estate of a Muslim is governed by Muslim law. ** ‘Issue’ is a legal term referring to one’s direct descendants.

The Tenancy-in-Common ownership structure would be ideal for two parties who have their own estates to pass on the property to, such as divorcees or widows with children, coming together to jointly purchase a property.

For instance, Lewis and Jesse own 70% and 30% of a condominium unit, respectively. If Jesse were to pass away, his share (70%) would go to his estate according to his will, while Lewis would continue owning 30% of the property.

Beyond legalities, what else should you consider before co-owning a residential property?

For many, the legal, emotional, and financial advantages of co-owning a property outside of marriage are very real. Still, it is equally important to recognise the responsibilities and risks that come with it.

Firstly, just as in marriages, breakdowns in relationships between co-owners can make living together challenging. However, unlike most relationships, where it is possible to walk away from the other party, you will be tied to the shared property unless both parties reach a consensus on future ownership.

The same goes for scenarios where financial difficulty is a concern. If one party is unable to cover their share of costs (e.g., mortgage, maintenance fees), the financial pressure may unfairly fall on the rest.

Lastly, inheritance disputes could arise even if a manner of holding or inheritance has been specified. For instance, in an emotionally charged situation, family members of a deceased co-owner may still choose to contest a will despite its legal standing.

For these reasons and more, all parties involved should establish a shared understanding and make definitive arrangements on how ownership should be handled in good times and in bad, before proceeding with a purchase.

Beyond formalising the manner of holding, prudent buyers may also consider drafting a will to facilitate smooth and unambiguous future transfers, particularly when a joint tenancy is involved. Likewise, a consultation with legal and real estate professionals is recommended for more precise understanding and informed guidance. Because just as with the people you love, those you share a roof with deserve nothing less than care and clarity.

Disclaimer

This information is provided solely on a goodwill basis. It does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For the avoidance of doubt, ERA Realty Network and its salesperson accept no responsibility for the accuracy, reliability and/or completeness of the information provided. ERA owns the copyright in this publication, and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.

Can seniors right-size comfortably from their landed homes? The answer is “Yes”.

During his first National Day Rally this year, Prime Minister Lawrence Wong cast a spotlight on housing options with improved infrastructure for Singaporean seniors, highlighting that “there are seniors who prefer not to move” who desire to “age in place, where they currently live”.

However, some seniors may not be able to preserve their current living arrangements – primarily those who live in landed homes. Here are three main reasons why we believe Senior homeowners residing in landed properties are considering right-sizing their homes.

1. As they age, seniors will face progressively reduced mobility and will eventually require elderly-friendly facilities. This could include extensive renovation such as installing lifts for easy access to upper floors.
2. The upkeep and maintenance costs of landed homes could require seniors to part with a significant amount of their savings, especially for those who have already retired and no longer have a steady source of income.
3. By right-sizing their home, some seniors can unlock some monies from their existing property that could support their retirement.

Recent Tweak to ABSD Rules Could Help More Single Seniors to Right-Size Their Homes

Announced during Budget 2024, Single Singaporeans aged 55 years and above will be eligible for an ABSD concession on their second residential property should they meet certain conditions.

These include disposing their first residential property within six months of purchasing their second completed property, or from the issue date of the Temporary Occupation Permit (TOP)/Certificate of Statutory Completion. For the full list of criteria, see here.

The extension of the Additional Buyer’s Stamp Duty (ABSD) concession to Single senior Singapore citizens, including divorcees and widows/widowers, will provide a greater incentive for single seniors to right-size their homes.

When considering HDB flats, seniors have to keep in mind that there is a wait-out period of 15 months if they aim to move into a 5-room or larger flat. Thus, a more manageable property could be a 4-room or smaller flat. On the other hand, some may prefer living in a condo for its diverse range of facilities as compared to living in HDB estates as a whole.

Landed Properties Being Home to a Higher Proportion of Seniors

A quick study of several landed enclaves across Singapore revealed that nearly all of them had a higher proportion of Seniors. While Seniors make up 37% of the population island-wide, certain subzones, such as Tagore & Sembawang Hills (43%), Lorong Chuan & Serangoon Central (42%), and Hillview (39%), showed a higher concentration of Seniors.

Likewise, results from ERA’s “My Dream Home Survey 2024” reflected a similar trend, revealing that seniors constitute more than half (52%) of the respondents living in landed homes, surpassing residents from other age groups.

Chart 1: Landed enclaves and their estimated proportion of Senior population

Here are some considerations to help Seniors decide if they should right-size to new or resale condos

1. Unlike Resale Leasehold homes, New Leasehold projects come with a fresh 99-year lease

New condominiums have unique advantages of their own too. For most Singaporeans, remaining leasehold tenure is a major buying consideration – this is especially true for anyone interested in creating a legacy asset. This is where newly-launched condos excel, offering fresh leases that translate into longer horizons for price growth.

2. Wide selection of units making it possible for Multi-generation families to buy homes within the same project

Additionally, finding the right condo unit on the resale market might be more challenging than picking one in a newly-launched project. Depending on the pool of available units, right-sizers may have fewer opportunities to find their ideal home in an older development.

In contrast, newly-launched developments offer a wide selection of homes, significantly increasing your chances of finding a dream home that perfectly matches your desired preferences. Moreover, Seniors could consider purchasing new homes alongside their adult children, i.e. buying two properties within the same project. This arrangement enables them to live close enough to easily care for each other while still maintaining personal space.

3. Newer facilities + lower renovation cost required

New projects will see brand new facilities and typically require lower renovation cost compared to resale homes.

4. Resale private homes are affordable

For many buyers, affordability is a crucial factor that influences their decision in making a purchase. Traditionally, new sale private homes command a higher selling price than a resale unit. From 2019 to August 2024, the average price of resale units maintained lower prices than new sale units.

Chart 2: Average Price of New Sale and Resale Condos

Source: URA, ERA Research and Market Intelligence

Moreover, the premium on new sale units has exponentially increased. In the same period, average prices of new sales pulled away from resale units, boosting the price difference of 27% to 42%.

5. Resale condos have shorter waiting period compared to new condos

In most cases, buyers of resale condos can complete their purchase within three to four months and move in once renovations are finished. However, for new homes, unless the project is nearly completed, buyers generally have to wait between 2 to 4 years for their homes to be ready.

6. Sizeable resale units but many of them may require renovation

One notable expense associated with buying an older condo is renovation cost. The existing structure of resale units may not align with buyers’ preferences or may be in poor condition due to wear and tear. As a result, buyers often need to invest heavily in renovations, which may chalk up unexpected costs along the way.

At some locations, it might mean only finding much older resale condos. For instance, about half of the condo developments around Tagore, Sembawang Hills are more than 20 years old. These older condos may also have maintenance issues in communal areas that cannot be easily rectified.

Resale and new sale: What are the Seniors’ housing options?

While the availability of resale homes largely depends on what is listed on the market, there is a consistent supply of new homes to choose from. According to “Dream Home Survey”, among the Seniors and Boomers looking to buy a private condo as their next home, a significant 61% of them prefer new condos, far surpassing the preferences of the Millennial and Gen Z demographics. This preference likely stems from the appeal of longer leases and greater potential for capital appreciation associated with new condos.

And since familiarity breeds contempt, but in the case of neighbourhoods, it’s more likely that they’ll breed comfort instead. Being well-acquainted with everything – from the nearest supermarket to the cheapest eateries – in an area will allow you to establish a day-to-day routine that ensures daily life stays pleasantly predictable.

Referencing the locations, we had earlier discussed in Chart 1, here’s a list of new developments found in the vicinity

Table 1: Landed Enclaves & Nearby New Developments

Source: ERApro, ERA Research and Market Intelligence

Even at this price point, it is still financially feasible for senior landed homeowners to right-size to a new private condo in 2024

Looking at historical transaction data for landed properties in the various subzones over the past 15 months, it’s evident that current landed homeowners will have sufficient funding to purchase a new condo within a 1km radius after downsizing.

Our survey results also showed that 78% of Boomers and Seniors looking to buy a condo have a budget between $1 million and $3 million, which is a comfortable budget after transacting their previous landed home.

Here are some examples of estimated surplus funds that senior landed homeowners can expect to have after using their sales proceeds to purchase a newly-launched unit within the same subzone:

Case Studies (using median transacted landed home prices within the last 15 months)

Case Studies (using median transacted landed home prices within the last 15 months)

Example 1: Selling a terrace home in Tagore and buying a new 2-bedroom unit at Lentor Hills Estate

Value of current property: $3,629,000 Misc. Fees: $82,661 Value of new unit: $1,555,000 BSD: $46,800 Refundable ABSD: $311,000   Surplus: $3,629,000 – $82,661 – $1,555,000 – $46,800 = $1,944,539

Example 2: Selling a semi-detached home in Sembawang Hills and buying a new 4-bedroom unit at Lentor Gardens

Value of current property: $5,099,000 Misc. Fees: $114,119 Value of new unit: $2,657,000 BSD: $90,880 Refundable ABSD: $531,400   Surplus: $5,099,000 – $114,119 – $2,657,000 – $90,880 = $2,2237,001

Example 3: Selling a semi-detached home in Dairy Farm and buying a new 3-bedroom unit at Hillview

Value of current property: $4,500,000 Misc. Fees: $101,300 Value of new unit: $2,048,000 BSD: $66,520 Refundable ABSD: $531,400   Surplus: $4,500,000 – $101,300 – $2,048,000 – $66,520 = $2,284,180

Example 4: Selling a terrace home in Mountbatten and buying a new 3-bedroom unit at Dakota

Value of current property: $4,370,000 Misc. Fees: $95,518 Value of new unit: $3,452,000 BSD: $122,680 Refundable ABSD: $662,200   Surplus: $4,370,000 – $95,518 – $3,452,000 – $122,680 = $696,802

Source: ERApro, ERA Research and Market Intelligence

*Prices of new units are last updated on 22 August 2024

With their liquidated capital, many seniors should still be able to afford a new condo and have surplus to support their retirement need. Comprehensive planning allows for seniors to overcome the difficulties of living in their landed property while quelling financial concerns – the seemingly impossible is made possible so these seniors’ next properties are no longer out of reach!

For Seniors who have embarked on this journey, some have chosen to rent to rent a unit for two years while waiting for the completion of their new home. Here is what their rental expenditure could look like:

Table 2: Rental Expenditure by District (24-month period)

Source: URA, ERA Research and Market Intelligence

*Based on median rental in Jan-Aug 2024.

Even though the rental expense may seem high, it could still be much more affordable than the renovation costs associated with buying resale properties, which can balloon to a similar or significantly higher amount.

So, what now?

Ultimately, don’t close the doors on living a stress-free life! Right-sizing to a smaller home has never been easier for seniors, now that ABSD remissions have provided some financial flexibility.  Without the presence of taxes to chip away at your finances, there is some flexibility when it comes to budgeting for your next property.

Given the holding power landed homes have in today’s market, senior landed homeowners can be rest assured that their landed properties can provide them with a competitive exit check to move into their desired right-sized property.

If you are a senior considering downsizing to a new or resale condominium, do not hesitate to consult with an ERA Trusted Adviser today!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

Among the three types of residential properties available in Singapore, from HDBs, to condos, and lastly landed property, landed property is the most elusive. Making up only 17.9% of private housing in Singapore, there is much about the landed property segment that most don’t know about.

Not only are landed properties expensive, they come with other expenses. Depending on the age of the house itself, the cost to maintain the house varies, with brand new rebuilds having lower maintenance costs. Having additional features in a landed home, such as lifts or a swimming pool also incurs additional costs for homeowners.

Despite this, landed properties are often seen as ‘dream homes’ by Singaporeans. Surpassing other property types in terms of size, exclusivity and privacy, they are a symbol of affluence, and that one has ‘made it’ in life.

Here are three important things you need to know about landed property to get you started.

What are the different landed property build types?

There are four landed build types in Singapore: terrace houses, semi-detached houses, detached houses (or bungalows) and Good Class Bungalows (GCB). They differ from one another in categories such as minimum plot size, width, depth, site coverage, setback control, roof overhang clearance and location (in the case of GCBs)

1. Terrace Houses

Terrace houses are the most common landed house type in Singapore. They are characterised by shared side walls between each other. They are often built with at least three units in a row, consisting of at least one intermediate unit and two corner units

Intermediate terrace units share walls on both sides of the house, and are often cheaper than their corner terrace counterparts.

Corner units are usually more expensive as they have a larger land area, due to only sharing one common wall.

2. Semi-detached Houses

Semi-detached homes (also called semi-Ds) comprise a pair of conjoined houses, each with its own land title, separated by a common party wall or partition. Semi-detached houses have a minimum plot size of 200 sqm, or approximately 2,160 sqft.

3. Detached houses (Bungalows)

In contrast to the aforementioned house types, detached houses (often called bungalows) are completely independent of its neighbours.

They are regarded as a top tier landed property in Singapore due to their scarcity and land size. These properties must be no smaller than 400sq. m or approximately 4,360 sqft.

One of the main attractions of living in a detached house is exclusive privacy, as they do not share walls with their neighbours. The large land space also offers homeowners greater freedom with the construction of the house and other features.

4.       Good Class Bungalows (GCBs)

The golden goose of all residential property in Singapore, GCBs are the most prestigious and expensive housing type in Singapore. Not only does the land size have to exceed 1,400 sqm in size (or 15,070 sqft), they have to fulfil the select criteria:

–           be in one of the 39 gazetted areas zoned for GCBs

–          Be no more than two storeys high (excluding an attic and a basement)

–          Have a minimum plot width x depth of 18.5m x 30m

–          The site coverage (area covered by the building or building features) cannot exceed 35% of the plot

Landed vs Strata Landed: Key Differences

The type of land a landed house sits on, determines if the house is a Strata Landed or Landed house.

When you purchase a landed home, you own the land title of the property. While in a strata landed home, you own a strata title. This means you own an individual title to your unit, instead sharing the land and facilities built on it – like in a condo.

Landed houses

When you own landed houses, you own the title to the land itself (land title). This gives you the freedom to do whatever you want to the structure of the house, such as the ability to completely tear it down and rebuild it from the ground up (in accordance with URA and BCA restrictions of course).

With the exception of Sentosa Cove, or specific approval from the Singapore Land Authority, foreigners cannot purchase landed properties.

In Singapore, foreigners can only buy non-landed properties – except in Sentosa Cove for their own stay.

Strata landed houses

In the case of strata landed houses, you do not own the land. You own a strata title instead, or a share of the land with other owners. Similarly to a condo, these properties are clustered within a gated compound and contain facilities. As a result, they are also often referred to as ‘cluster houses’.

The very obvious drawback to owning a strata landed house is that you cannot do as you please with them. This involves any work done to the outside of the house, such as repainting the façade or changing the window panels. The management committee has to approve any changes you want to make to a property as these strata homes are part of a development and must maintain its identity.

In addition to this, cluster houses share a common vehicular access point. They tend to see congestion in parking spaces, often leaving owners with only one lane to drive through. This is due to these houses housing multi-generational families, who often have more than one car.

Foreigners looking for a landed home outside of Sentosa Cove can look towards strata landed houses within an approved condominium development (under the SLA planning act). However, they are not allowed to rent out their landed property, and can only buy one for their own stay.

Landed property lease types

Some people might have the misconception that all landed property is freehold. On the contrary, leasehold landed properties also exist. They have varying tenures, from 70, 90, 103 year leases. The length of these leases can go up to 999, 9,999 and 99,999 years, which makes them as good as freehold.

Table 1: Median Prices of Freehold and Leasehold landed property in 4m 2024

	Terrace	Semi-detached	Detached
Freehold	$3,900,000	$6,180,000	$11,690,000
Leasehold (under 103 years)	$2,639,000	$3,500,000	$5,250,000
% Difference	32.3%	43.4%	55.1%

Source: URA as of 29^th May 2024, ERA Research and Market Intelligence

Leasehold and freehold landed houses see a significant price disparity, with freehold landed houses costing about 41.5% more than leasehold ones.

Freehold landed properties are generally seen as the superior choice a for investment buyers, or those seeking capital gains.

Leasehold properties see their value deteriorate at a certain point due to lease decay. An example of this would be the houses at Jalan Chempaka Kuning and Puteh, which recently made the news. The land leases of these homes will expire in 10 years, where the units will have to be vacated, and land ownership returned to the state.

At the same time, they offer an opportunity for homebuyers to purchase and live in a landed home at a more accessible price point.

Conclusion

Landed houses come in various sizes and build types, and offer the most customisation available on the market. This makes them highly sought after by homebuyers with specific needs. For example, they make a fantastic choice for multi-generational families. These families often need large living spaces (upwards of 2,000-3,000 sqft), which are hard to find in an HDB flat or condo nowadays.

Many people dream of owning a landed property, particularly a freehold one. This is because of their stored value, making them fantastic instruments for capital gains or legacy planning.

There are also buyers that covet a landed home as they believe it is the most suitable form of housing for their desired lifestyle. They may be drawn towards leasehold landed properties despite shorter remaining leases. They value the privacy and space a landed home provides, especially at the lower price point.

While landed properties are the most expensive form of property in Singapore, they are not entirely out of reach for those looking to upgrade to their dream home. Being aware of the different options on the market opens up more accessible options if you are truly interested in owning a landed home.

With this knowledge, you are now ready to explore the intricate landscape that is the landed housing market in Singapore.

If you are interested in purchasing or finding out more about landed property in Singapore, do not hesitate to reach out to an ERA Trusted Advisor today!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.