Authored by the expert who managed and guided the team behind the Singapore Property Pack
Yes, the analysis of Singapore's property market is included in our pack
Singapore's property market in 2025 remains one of Asia's most resilient, with prices expected to grow 3-4% this year despite high entry barriers for foreign buyers.
With median private home prices at S$1.59 million and foreigners facing a 60% Additional Buyer's Stamp Duty, buying property in Singapore requires careful planning and substantial capital. The market offers strong long-term growth potential, especially in districts like Marina Bay and Holland Village, but rental yields typically range from 2-4% gross.
If you want to go deeper, you can check our pack of documents related to the real estate market in Singapore, based on reliable facts and data, not opinions or rumors.
Buying property in Singapore City in 2025 is worth it for long-term residents and high-net-worth investors who can afford the 60% foreigner stamp duty and median prices of S$1.59 million.
For expats staying less than 5 years or those without substantial capital, renting remains more practical given high transaction costs and market restrictions.
| Aspect | Key Details | Impact on Buyers |
|---|---|---|
| Foreigner Restrictions | Can only buy private condos/apartments freely | Limited options, no HDB or landed property |
| Total Costs | 60% ABSD + 1-6% BSD + property price | Adds 61-66% to purchase price |
| Price Growth | 3-4% expected in 2025 | Moderate appreciation potential |
| Rental Yields | 2-4% gross annually | Low but stable returns |
| Best Areas | Marina Bay, Holland Village, Orchard | High demand, premium prices |
| Market Outlook | Stabilizing after rapid growth | Less volatile, steady gains |
| Minimum Investment | S$1M for basic condo in suburbs | High entry barrier |
What property types can you buy in Singapore in 2025, and what's allowed for foreigners?
Foreigners in Singapore can freely purchase private condominiums and apartments, which make up the bulk of available options for international buyers.
The Singapore property market strictly limits foreign ownership to specific property types. While citizens have access to HDB flats (public housing) and landed properties, foreigners face significant restrictions. Private condominiums remain the primary option, ranging from mass-market developments at S$1 million to luxury units exceeding S$5 million.
Executive Condominiums (ECs) become available to foreigners only after they're fully privatized, which happens 10 years after completion. This means foreigners can only buy older EC units in the resale market. Landed properties like terrace houses, semi-detached homes, and bungalows require special approval from the Singapore Land Authority, which is rarely granted.
The exception is Sentosa Cove, Singapore's only area where foreigners can apply to buy landed property, though approval is still required. Strata-landed homes within approved condominium developments are also permitted for foreign buyers.
It's something we develop in our Singapore property pack.
How much do properties cost in Singapore now, and what's the price outlook?
Singapore private home prices reached a median of S$1.59 million in 2025, with Core Central Region condos averaging S$2.95 million.
Property prices in Singapore rose 3.9% in 2024 and are forecasted to increase another 3-4% in 2025, showing a moderation from the rapid growth of previous years. New launches in the Outside Central Region (OCR) are selling between S$2,200-2,500 per square foot, while prime district properties command significantly higher premiums.
The Singapore residential market has shown remarkable resilience, with HDB resale prices jumping 9.6% in 2024, indicating strong local demand. This price growth is supported by limited land supply, steady economic fundamentals, and continued interest from both local upgraders and foreign investors despite cooling measures.
Looking ahead to 2026 and beyond, market analysts expect continued but moderate growth as supply tightens. The government's careful balance of cooling measures and market support suggests prices will likely appreciate steadily rather than experiencing sharp spikes or corrections.
Global economic uncertainties and interest rate fluctuations remain key factors that could influence price movements in Singapore's property market through 2025 and 2026.
Should expats and investors buy or rent in Singapore in 2025?
For expats staying less than 5 years in Singapore, renting typically makes more financial sense than buying due to high transaction costs.
The decision between buying and renting in Singapore depends heavily on your financial capacity and time horizon. With foreigners facing a 60% Additional Buyer's Stamp Duty (ABSD) plus standard stamp duties, the upfront costs of buying can exceed 66% above the property price. This makes purchasing viable mainly for high-net-worth individuals or those planning long-term residence.
Rental markets in Singapore are projected to grow 2-4% in 2025, offering relative stability compared to many global cities. Monthly rents range from S$1,800-5,000 for one-bedroom units to S$3,000-10,000 for three-bedroom apartments, depending on location and quality.
| Factor | Buying Advantages | Renting Advantages |
|---|---|---|
| Financial Commitment | Builds equity over time | Lower upfront costs (1-3 months deposit) |
| Flexibility | Complete control over property | Easy to relocate or upgrade |
| Market Exposure | Potential capital appreciation | No risk from property value fluctuations |
| Tax Implications | 60% ABSD for foreigners | No stamp duties or property taxes |
| Break-even Period | Typically 7-10 years | Immediate occupancy, no long-term commitment |
| Income Generation | Can rent out for 2-4% yield | No rental income opportunity |
| Maintenance | Owner responsible for all costs | Landlord handles repairs |
What are Singapore's current property market trends—growth, stability, or cooling?
Singapore's property market in 2025 shows signs of stabilization with moderate growth of 3-4% expected, marking a shift from the rapid increases of 2021-2023.
The Singapore residential market is experiencing a healthy moderation phase after years of strong growth. Key drivers include limited land supply, robust economic fundamentals, steady demand from local upgraders, and ongoing infrastructure developments like the Greater Southern Waterfront project. Despite high ABSD rates, foreign interest remains steady, particularly for prime properties.
Market risks include global economic uncertainties, elevated interest rates hovering around 3-4%, and potential additional cooling measures if prices accelerate too quickly. The government's measured approach to market intervention has helped maintain stability while preventing speculative bubbles.
Supply dynamics favor continued price support, with new private home completions expected to remain tight through 2025-2026. This supply constraint, combined with Singapore's status as a regional financial hub and safe-haven destination, underpins the market's resilience.
Transaction volumes have normalized from pandemic highs, indicating a more sustainable market pace that benefits serious long-term buyers over speculators.
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Which Singapore neighborhoods offer the best value, growth potential, or prestige?
Marina Bay and Orchard remain Singapore's most prestigious addresses, while areas like Punggol and Serangoon offer better affordability and growth potential.
Singapore's property landscape offers distinct neighborhood profiles catering to different buyer priorities. The Core Central Region (CCR) including Marina Bay, Orchard, and River Valley commands premium prices but delivers unmatched prestige, rental demand from expatriates, and proximity to business districts. Properties here typically start from S$3 million.
For growth potential, emerging areas like Tanjong Pagar (part of the Greater Southern Waterfront redevelopment) and Punggol (future Digital District) present compelling opportunities. These districts benefit from major government infrastructure investments and urban planning initiatives that should drive appreciation over the next 5-10 years.
Value seekers should consider Outside Central Region (OCR) locations like Serangoon, Ang Mo Kio, and Woodlands, where properties under S$1.5 million can still be found. These areas offer good connectivity via MRT, established amenities, and family-friendly environments with quality schools.
Lifestyle-focused neighborhoods like Holland Village and Tiong Bahru blend heritage charm with modern amenities, attracting both locals and expatriates willing to pay premiums for character and community vibrancy.
What's the total cost of living in Singapore, and does it make ownership realistic?
Living costs in Singapore range from S$1,500-4,000 monthly for singles and S$5,500-7,000 for families, making property ownership challenging for many.
Singapore consistently ranks among the world's most expensive cities, with costs that significantly impact property affordability calculations. Beyond mortgage payments, owners must budget for maintenance fees (S$300-800 monthly for condos), property tax, utilities, and insurance. These additional costs can add S$1,000-2,000 monthly to ownership expenses.
The high cost structure means property ownership in Singapore typically requires household incomes exceeding S$15,000 monthly to comfortably afford a S$1.5 million condo after accounting for TDSR (Total Debt Servicing Ratio) limits of 55%. For foreigners facing 60% ABSD, the income requirements are even higher.
Transportation, food, and education costs further strain budgets, with international school fees alone reaching S$30,000-50,000 annually per child. This makes ownership feasible primarily for senior professionals, business owners, or those with substantial savings.
It's something we develop in our Singapore property pack.
What's the complete buying process for foreigners—rules, taxes, and steps?
Foreign property buyers in Singapore face a complex process involving eligibility checks, financing arrangements, and substantial tax obligations totaling 61-66% above the purchase price.
The buying journey begins with confirming eligibility—foreigners can only purchase private condos, apartments, and approved strata-landed properties. Next, secure financing pre-approval, as banks limit loans to 75% loan-to-value ratio subject to TDSR calculations. Engage a licensed property agent from established agencies like PropNex, ERA, or Huttons.
Once you identify a property, submit an offer with a 1% option fee to secure exclusive rights. Upon accepting terms, exercise the option by paying the remaining 4% deposit within 14-21 days. Your appointed lawyer handles conveyancing, due diligence, and liaising with the seller's legal team.
The completion process takes 8-12 weeks and involves:
- Buyer's Stamp Duty (BSD): 1-6% of purchase price on a progressive scale
- Additional Buyer's Stamp Duty (ABSD): 60% flat rate for all foreigners
- Legal fees: Approximately S$2,500-5,000
- Agent commission: Typically paid by seller, but buyer's agent may charge 1%
- Annual property tax: Progressive rates, higher for non-owner-occupied units
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Singapore versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
Where should you search for Singapore property—top platforms and agencies?
PropertyGuru.com.sg leads Singapore's property search platforms, while PropNex Realty's 12,600+ agents make it the largest agency network.
Singapore's property search ecosystem is well-developed with multiple reliable channels. Online platforms dominate initial searches, with PropertyGuru attracting the most traffic through comprehensive listings and market data. 99.co has gained ground with user-friendly interfaces and innovative features, while EdgeProp.sg and StackedHomes.com offer detailed analytics and insights.
For agency representation, the "Big 5" dominate: PropNex Realty (12,600+ agents), ERA Realty Network (8,600+ agents), Huttons Asia (5,700+ agents), OrangeTee & Tie, and SRI. These agencies offer extensive market coverage, professional training standards, and established reputations.
Specialist boutique agencies may better serve luxury segments or specific districts. When selecting an agent, verify their CEA registration, track record, and familiarity with your target areas and property types.
Many successful buyers combine online research with professional agency representation to navigate Singapore's competitive market effectively.
What property types fit different budgets in Singapore's market?
Singapore property budgets start from S$1 million for basic resale condos in suburban areas, scaling up to S$5 million+ for luxury units in prime districts.
Budget allocation in Singapore's property market follows clear price tiers. Under S$1 million, options include older resale condominiums in OCR areas like Punggol, Sengkang, or Woodlands, typically offering 1-2 bedrooms in 500-700 square foot units. These properties suit first-time buyers or investors seeking rental income from heartland locations.
The S$1-2 million range opens up newer mass-market condominiums in city fringe areas (RCR), with better amenities and 2-3 bedroom configurations. Popular areas include Queenstown, Novena, and Potong Pasir, offering balance between accessibility and affordability.
S$2-3 million budgets access prime freehold properties in established neighborhoods like Holland Village, East Coast, or smaller units in Districts 9-10. These properties appeal to upgraders and affluent professionals seeking prestige addresses.
Above S$3 million enters luxury territory—spacious condominiums in Orchard, Marina Bay, or Sentosa Cove. The S$5 million+ category includes penthouses, conservation shophouses, and (with special approval) landed properties in Sentosa Cove.
What mistakes do Singapore property buyers commonly make and how can you avoid them?
The biggest mistake foreign buyers make is underestimating total costs—the 60% ABSD alone can add over S$1 million to a S$2 million property purchase.
Common pitfalls include focusing solely on property price without factoring in stamp duties, legal fees, renovation costs, and ongoing expenses like maintenance and property tax. Buyers often discover their actual cash outlay exceeds initial calculations by 70-80%.
Many foreigners misunderstand ownership restrictions, wasting time viewing HDB flats or landed properties they cannot legally purchase. Others skip proper due diligence on developers' track records, building quality, or upcoming area developments that could affect values.
Financing surprises catch many off-guard when TDSR calculations reduce their borrowing capacity below expectations. Some buyers proceed without professional help, missing crucial market insights or legal protections.
To avoid these mistakes:
- Calculate total costs including all taxes and fees upfront
- Get loan pre-approval before property hunting
- Research developer reputation and building management quality
- Engage experienced agents familiar with foreigner transactions
- Hire lawyers specializing in property conveyancing
- Study area masterplans and upcoming infrastructure projects
- Compare multiple projects and units before committing
Which areas attract tenants and deliver good rental yields for investors?
CBD areas like Marina Bay and Tanjong Pagar command highest rents, while city fringe neighborhoods offer better yields of 3-4% gross annually.
Singapore's rental market favors locations with strong fundamentals: MRT accessibility, proximity to business districts, international schools, and lifestyle amenities. Prime areas including Marina Bay, Orchard, and River Valley attract expatriate executives willing to pay S$8,000-15,000 monthly for quality units, though yields rarely exceed 2.5% due to high capital values.
Better yields emerge in city fringe areas like Tiong Bahru, Queenstown, and Novena, where 2-3 bedroom units rent for S$4,000-6,000 monthly while property prices remain relatively moderate. These areas deliver 3-4% gross yields while maintaining strong tenant demand.
Emerging rental hotspots include Punggol (near Digital District), Jurong East (second CBD), and Paya Lebar (commercial hub). These areas attract young professionals and families seeking affordability without sacrificing connectivity.
Tenant expectations in Singapore include furnished units, efficient layouts, regular maintenance, and flexible lease terms. Properties near MRT stations command 10-15% rental premiums. International school proximity particularly matters for family-sized units.
It's something we develop in our Singapore property pack.
Can you legally run short-term rentals in Singapore, and is it profitable?
Short-term rentals under 3 months are strictly prohibited in Singapore private residential properties, with hefty fines for violations.
Singapore maintains one of the world's strictest positions on short-term rentals. The Urban Redevelopment Authority (URA) enforces a minimum 3-month rental period for private properties and 6 months for HDB flats. This effectively bans Airbnb-style short stays in residential units, with penalties reaching S$200,000 for repeat offenders.
These regulations aim to preserve residential amenity and housing stock for long-term residents. Unlike cities embracing short-term rentals, Singapore prioritizes neighborhood stability and security over tourist accommodation flexibility.
For property investors, this means rental strategies must focus on traditional long-term leases. While this eliminates potentially higher short-term rental yields, it provides stable, predictable income streams and simpler property management.
Legal alternatives include investing in serviced apartments or commercial properties zoned for hospitality use, though these require larger capital outlays and different financing structures than residential properties.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Buying property in Singapore City in 2025 makes financial sense primarily for high-net-worth individuals planning long-term residence or serious investors who can absorb the 60% foreigner stamp duty.
For most expatriates and shorter-term residents, the combination of high entry costs, modest rental yields of 2-4%, and availability of quality rental options makes renting the more practical choice in Singapore's expensive but stable property market.
Sources
- Home Journey - Definitive Guide to Buying Property in Singapore 2025
- PropertyGuru - Buying Property in Singapore as a Foreigner
- SG Luxury Homes - Foreigners Buying Property in Singapore 2025
- CEIC Data - Singapore House Prices Growth
- DBS Bank - Singapore Property Outlook
- Expatica - Cost of Living in Singapore
- Ascendant Global - How to Buy Property in Singapore Foreigner Guide
- Property Giant - Top 5 Largest Property Agencies in Singapore 2025
- Jayson Ang - Top 5 Mistakes to Avoid When Buying Property in Singapore
- URA - Short Term Accommodation Regulations