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Resale Condo Market Watch in November 2025

Stable resale condo market in November amid slowing new launch activitiesSales momentum in the overall property market cooled down in November, including the resale condo market. About 824 condo units worth $1.67 billion was resold during the month - compared with the 1,048 resale transactions valued at $2.1 billion transacted in October. The resale home market simmered slightly as new launch activity resurged during the month. Momentum in the new sale market also slowed down with less than 400 units transacted, coming down from a high of over 2,400 new units transacted in the previous month, amidst a flurry of new launches. In November, resales accounted for nearly 70% of non-landed transactions, while new sale deals accounted for the minority of transactions (27.6%, see Chart 1).Chart 1: Proportion of private non-landed transactions (excl. EC) by sale type by monthSource: PropNex Research, URA Realis With the drop in new launch activity during the month, the average unit price of new non-landed homes declined. The average new sales price slipped by 7.4% month-on-month (MOM) to $2,578 psf in November, while the average resale unit price grew by 2.1% MOM. As such, the new sale and resale price gap declined from 55.7% in October (see Chart 2), to 41.1% in November. Chart 2: New sale and Resale Price gap of non-landed homes (overall) by monthSource: PropNex Research, URA Realis Improving gains amongst resale transactionsIn terms of profitability, resale condo units transacted in November saw slightly better gains compared with the previous month. Analysing the profits reaped by resale non-landed private homes in October and November 2025, it was found that resale condo deals garnered slightly higher profits. The proportion of loss-making transactions slightly declined in November 2025 over the previous month. The resale profit analysis involves computing gains achieved for the units by matching the condo resale transactions in October against their respective previous purchase price, according to caveats lodged. The study showed that 15.3% of resale condo transactions (112 deals) in November made more than $1 million in profits, a higher proportion to October (13.4%). Of these million-dollar profit-making deals, the deals are evenly distributed amongst the three market segments, in the Rest of Central Region (RCR) (37.5%), 32.1% in the Core Central Region (CCR) homes and 30.4% in the Outside Central Region (OCR). Loss-making deals in November accounted for 4.2% of transactions, similar to the proportion of loss-making deals (4.7%) in October (see Chart 3). Chart 3: Proportion of profit quantum of resale non-landed transactions (October 2025 vs November 2025)Source: PropNex Research, URA Realis The average profit was subsequently computed on a project basis. To minimise sampling errors, resale condominium projects that posted fewer than three transactions during the month are excluded from the study. Based on URA Realis caveat data analysed by PropNex Research, the most profitable condo in the CCR, was Valley Park in District 10, which pulled in an average profit of $961,000 across three transactions in November. In the RCR, the most profitable condo development in November was Sanctuary Green, a project located in District 15, which achieved an average profit of $1.3 million, across three transactions. Sanctuary Green was also the overall best performing project in terms of average profit quantum in November. In the heartlands or Outside Central Region (OCR), the most profitable project was Kovan Residences in District 19 which garnered an average profit of $933,000 across four transactions. Top Resale Condo projects^ in terms of average gross profit* by region (November 2025)Project NameNo. of transactionsAverage Profit Gained ($)Average Annualized Profit (%)#Year completed DistrictCCRVALLEY PARK4$961,2504.2%199710D'LEEDON4$630,3502.6%201410RCRSANCTUARY GREEN4$1,312,8755.1%200315SIGNATURE PARK6$1,198,0005.5%199821BARTLEY RIDGE3$843,7336.0%201613OCRKOVAN RESIDENCES3$933,7206.9%201119SOUTHAVEN II3$907,3336.2%199921SUNGLADE3$781,4005.3%200319Source: PropNex Research, URA Realis^projects with fewer than 3 transactions in the month are excluded from this analysis*Gains are derived from the resale transaction for each unit against the unit's last caveated transaction; the average profit is determined on the profits of all resale transactions in the development which occurred during the month. The profit reflected is gross - it has not accounted for the applicable seller's stamp duties, interest payable, taxes and other relevant divestment costs.#Annualised Gains is the compounded annual rate of return which shows the rate of return over the time period between the point of resale and the property's last caveated transaction, expressed in annual percentage terms. The formula for determining this is simply: [(current resale price) / (purchase price)] time period in years-1Analysis was done based on available data from URA Realis Going by districts, resale homes in District 10 (Bukit Timah, Holland) raked in the highest profits on quantum basis, with transactions reaping average gains of over $1.02 million per deal. In terms of annualised gains, resale homes in District 20 (Bishan, Ang Mo Kio) enjoyed an average annualised profit of 4.7% per deal. Top 10 Resale Condo districts^ in terms of average gross profit* (November 2025)DistrictNo. of transactions**Average Gains ($)Average Annualised Gains (%)#D1044$1,027,2812.8%D2136$815,0744.4%D948$813,4862.1%D1556$763,3393.6%D2025$722,5684.7%D1319$640,4904.6%D2216$617,4864.2%D1120$601,0292.8%D1847$512,0164.4%D1981$493,9924.2%Source: PropNex Research, URA Realis^Districts with fewer than 10 transactions during the month were excluded from this analysis*Gains are derived from the resale transaction for each unit against the unit's last caveated transaction; the average profit is determined on the profits of all resale transactions in the development which occurred during the month. The profit reflected is gross - it has not accounted for the applicable seller's stamp duties, interest payable, taxes and other relevant divestment costs.#Annualised Gains is the compounded annual rate of return which shows the rate of return over the time period between the point of resale and the property's last caveated transaction, expressed in annual percentage terms. The formula for determining this is simply: [(current resale price) / (purchase price)] time period in years-1Analysis was done based on available data from URA Realis**Resale units with no available last caveated transaction data are excluded from this analysis Analysing individual transactions by gross profit quantum, it was found that the top five gainers from each region ranged from $1.5 million to $5.4 million. The units which chalked up bigger gains were mostly sizeable large format condos that are more than 1,300 sq ft in size, and consisted mostly of older projects built in the 1980s to early 2000s. The respective holding periods for the most profitable resale properties were mostly beyond 18 years - the oldest being a unit held for over 30 years. Top 5 Resale Condo transactions in November 2025 by gross profit by regionSource: PropNex Research, URA Realis*Gains are derived from the resale transaction for each unit against the unit's last caveated transaction; the average profit is determined on the profits of all resale transactions in the development which occurred during the month. The profit reflected is gross - it has not accounted for the applicable seller's stamp duties, interest payable, taxes and other relevant divestment costs.#Annualised Gains is the compounded annual rate of return which shows the rate of return over the time period between the point of resale and the property's last caveated transaction, expressed in annual percentage terms. The formula for determining this is simply: [(current resale price) / (purchase price)] time period in years-1Analysis was done based on available data from URA Realis**Resale units with no available last caveated transaction data are excluded from this analysis It was found that the overall most profitable transaction and top gainer in the CCR was for a 13th floor unit at The Imperial. It was resold for an estimated profit of $5.4 million, reflecting an annualised profit of 5.1%. Based on URA Realis caveat data, the 3,498-sq ft unit was first bought in September 2003 and subsequently resold for $8.15 million in November 2025, with a holding period of 22 years. The freehold project within the River Valley area and was built in 2006. The project is situated within walking distance to the Singapore River and a 5-minute walk to Fort Canning MRT station. The top gainer in the RCR in terms of gross profit was for unit transacted at Maple Woods in District 21, which fetched a gross profit of nearly $2.4 million (annualised profit of 3.8%), based on caveats lodged. The 1,507-sq ft 8th floor unit was sold for $3.5 million, with a holding period of 30 years. The freehold project located in Bukit Timah was built in 1997 and situated within close proximity to King Albert Park MRT station.Over in the OCR, the top gainer in November was a 4th floor unit located in The Dairy Farm in District 23. The 2,131-sq ft unit was sold for $3.35 million, achieving an estimated profit of $2.12 million - which reflects an annualised profit of 3.5% over a holding period of nearly 30 years. The sprawling condo development along Dairy Farm Road was built in 1985, and it is a stone throw away from the Hillview MRT station along the Downtown Line (DTL). Amid lowering interest rates and rising new launch prices, condo resellers may stand to benefit as some homebuyers may find themselves priced out of the new launch market and could consider options in the resale segment.

Integrated Community Hubs: The Future Of Singapore Living

TL;DR Singapore's community centres have quietly evolved from standalone destinations into integrated hubs woven into daily life. What once required intention is now encountered naturally, through thoughtful planning and everyday convenience. Then: Community centres were purpose-driven spaces visited for scheduled activities, meetings, and events - functional, familiar, but separate from daily routines. Now: Modern hubs like Our Tampines Hub, Heartbeat@Bedok, and One Punggol are embedded within mixed-use developments alongside MRT stations, libraries, clinics, retail, and food. Why it works: Integration reflects how Singaporeans actually live today - shorter time blocks, tighter schedules, and a strong preference for walkability and convenience. Planning intent: These hubs are not accidental. They are deliberate planning responses to land constraints, lifestyle shifts, and the need for organic social interaction. Jurong as a model: With its walkable networks, clustered amenities, and shared public spaces, Jurong shows how districts can be organised around daily behaviour rather than isolated destinations. Bottom line: Community in Singapore hasn't disappeared - it has been redesigned. The most successful hubs are those so seamlessly integrated that connection happens almost by accident. There was a time when community centres in Singapore felt very... intentional. You went there because you had something on - badminton night, a dance class, a grassroot meeting, maybe a family event booked weeks in advance. Otherwise, you probably didn't think much about them at all.Source: https://remembersingapore.org/2013/03/24/history-of-community-centres/Singapore's relationship with community centres stretches back to the early post-war years, when neighbourhood halls were conceived as modest gathering points rather than lifestyle destinations. In the early 50s, centres such as those in Tiong Bahru, Serangoon, and Siglap began emerging as simple spaces for residents to come together - whether for social activities, informed learning, or recreation. What we'll cover in this article: The Old Model vs The New Reality Why Integration Works: Designed Around Real Life Thoughtful Planning, Not an Accident Jurong and the Question of What Comes Next The Future of Community Living in Singapore Community, Reimagined These early centres were functional by design, often community-funded and volunteer-supported, reflecting a period when building social cohesion was just as important as building physical infrastructure. Over time, they became familiar fixtures within housing estates - reliable, practical and quietly central to neighbourhood life.That model worked for its time. But somewhere along the way, community centres began to change - quietly, almost without announcement. Today, many of these spaces no longer feel like places you go out of your way to visit. Instead, they are woven into daily routines, sitting right where life already happens.Once you notice this shift, you can't quite unsee it.The Old Model vs The New Reality Traditionally, community centres were standalone buildings designed for specific activities - function rooms, sports courts, activity studios. In their earlier decades, they functioned as structured neighbourhood spaces where activities were planned, timetabled, and purpose-driven. Residents didn't casually drop by; they attended programmes, classes, or events that were organised around fixed schedules.In the 50s and 60s, these centres played a practical but important role. They offered affordable recreation, basic enrichment programmes, and a common space for neighbours to gather at a time when Singapore was still building its social fabric. As public housing estates expanded and HDB towns evolved in the 60s, community centres also became key touchpoints for fostering cohesion across increasingly diverse estates.By the 90s, however, expectations had shifted. As lifestyles became faster-paced and more urban, residents wanted more than just scheduled activities. Community centres began evolving - adding retail elements, food options, and broader programmes - to stay relevant to a population that valued convenience and everyday accessibility.Maps are powered by streetdirectory.comFast forward to today, and the experience is fundamentally different. Many community centres are now embedded within mixed-used developments, sitting alongside MRT stations, shops, libraries, clinics, and food options. One of the earliest and most recognisable examples is Our Tampines Hub, which brought sports facilities, a library, retail spaces, and government services together under one roof - making community life something you encounter naturally as part of your day.Other hubs such as Heartbeat@Bedok, with its sports centre, library, and healthcare facilities, and One Punggol, home to Singapore's largest public library and a major hawker centre, show how community centres have evolved into true lifestyle destinations.At some point, I realised I was spending time in these spaces without consciously thinking of them as "community centres" at all. They were just part of the flow. Community interaction, in this model, happens almost by accident - and that's precisely why it works.Why Integration Works: Designed Around Real Life This shift didn't happen randomly. It reflects how Singaporeans live today.Our days are fuller, schedules tighter, and expectations higher. Convenience is no longer a bonus - it's essential. We value walkability, efficiency, and spaces that allow us to do more in less time.Instead of carving out separate blocks of time for "community activities," interaction now happens in the in-between moments - before dinner, after work, while running errands. In many ways, this is urban design finally catching up with real behaviour.Over time, these integrated hubs do more than shape daily routines. They influence how neighbourhoods age, retain relevance, and continue to feel desirable - anchoring liveability in a way that supports long-term resilience rather than short-term convenience.Thoughtful Planning, Not an Accident Integrated community hubs reflect deliberate planning - recognising land constraints, changing lifestyles, and the importance of social cohesion. By clustering amenities together, planners reduce travel time, increase accessibility, and encourage more organic interactions.This approach is becoming even more pronounced in upcoming developments. A clear example is the proposed integrated development at Kampong Kembangan, located beside Kembangan MRT station. Plans include about 340 BTO flats alongside a new and larger community club, retail shops, a supermarket, and an outpatient healthcare facility, all housed within a single mixed-use complex. A neighbourhood park and improved transport connections are also part of the plan, reinforcing the idea that housing, amenities, and community life are no longer treated as separate pieces.Other future hubs such as Chong Pang City in Yishun show just how far this thinking has progressed. The existing neighbourhood is set to be redeveloped into a multi-storey integrated hub that brings together an upgraded market and hawker centre, a new community club, shops, and daily services, alongside sports and leisure facilities including swimming pools. Designed as a central gathering point for the wider neighbourhood, the development aims to make everyday errands, exercise, and community interaction part of a single, seamless experience rather than separate trips.These hubs become social anchors. They're places you pass through, pause at, and return to without much thought. Sometimes, it's only when you step back that you realise how thoughtfully these spaces shape everyday experience.Jurong and the Question of What Comes Next Jurong offers an interesting glimpse into what highly integrated living can look like. Beyond its cluster of transport nodes, shopping malls, and civic amenities, the area has been deliberately planned around walkability, shared spaces, and everyday convenience.At the heart of this is Jurong East's elevated J-Walk pedestrian network, which links the MRT station with major malls, offices, healthcare facilities, and surrounding developments. This seamless connectivity allows people to move easily between work, errands, and leisure without relying heavily on cars, encouraging foot traffic and everyday interaction.Around this walkable core, amenities are organised as activity nodes rather than isolated buildings. Areas near the former JCube precinct function as mixed-use hubs where grocery shopping, meals, lessons, banking, and public services sit alongside one another. Nearby, Jurong Lake Gardens and the regional library extend this experience with generous public and green spaces that draw families, students, and seniors into shared, multi-generational environments.Taken together, this blend of connectivity, daily services, and inviting public spaces gives Jurong East the feel of a 15-minute neighbourhood, where work, leisure, and community life naturally overlap. Jurong feels less like a district built around destinations, and more like one organised around daily behaviour - an intentional planning experiment that prioritises how people actually move, linger, and live.Personally, I find Jurong both energising and thought-provoking. It shows how thoughtful integration and placemaking can inject vibrancy into an area, while raising an important question: will this model become a blueprint for other estates, or will future hubs adapt these ideas to better reflect each neighbourhood's character?The Future of Community Living in Singapore It's likely that we'll see more integrated community hubs across Singapore - but not in a copy-and-paste manner. Different estates have different rhythms, demographics, and expectations. Integration doesn't automatically mean bigger or busier; it can also mean smarter, more efficient use of space tailored to local needs.Planned developments such as a larger Joo Chiat Community Centre, which will include a performing arts theatre, and the upcoming Toa Payoh Integrated Development, set to house sports facilities, a library, and a polyclinic, suggest that community hubs will continue to expand in purpose - not just as social spaces, but as cultural and civic anchors.What feels clear is the direction of travel. Community spaces are no longer add-ons. They are being designed as integral parts of everyday life - shortening travel time, encouraging spontaneous interaction, and making neighbourhoods feel more connected.Community, Reimagined Community centres in Singapore haven't disappeared. They've evolved.From quiet halls with scheduled activities, they've transformed into integrated hubs that fit seamlessly into modern living. They reflect how we move, work, and interact today - without trying too hard to force connection.Perhaps the best community spaces are the ones you barely notice at first. They simply work, quietly supporting everyday life.In that sense, the most successful neighbourhoods aren't the ones that shout for attention - they're the ones designed so well that community happens almost by accident. And when planning becomes invisible, that's often when it's done right.Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.

Different Generations, Different Mindsets

TL;DR Different generations make different property decisions based on very different realities. Boomers: Entered the market when homes were cheap relative to income, savings rates were high, and HDB supply was expanding. Homeownership was achievable after just a few years of disciplined saving. Gen X: The bridge generation benefited from rising incomes and the growth of the resale market, but shaped by crises like the AFC and dot-com crash, making them more cautious yet flexible. Millennials & Gen Z: Facing much higher price-to-income ratios, tighter competition for BTOs, and rising living costs, leading them to prioritise liquidity, experiences, and alternative investments first. Risk mindset: Boomers favour stability, Gen X takes measured risks, while younger generations are more experimental (not out of irresponsibility, but adaptation to today's economic constraints). Key takeaway: Property is still a powerful wealth-building tool, but the timing, sequencing, and strategy matter far more now than simply "saving harder." Each generation needs strategies built for today's prices, policies, and competition. If you ask a boomer what they bought with their first big savings at age 25, the answer is probably: "I used it to buy a home."Ask a Millennial or gen Z the same question today, and you might hear: "Invest lah," "Travel first," or "Let the money grow elsewhere while I figure things out."Same idea of responsibility.Same desire for stability.But wildly different lifestyles, and a completely different economy.So let's unpack it all in this article. In this article, we will explore: Boomers Millennials and gen Z Gen X Risk appetite The bottom lineBoomersBack then, people really knew how to save. So much so that it could've been a competitive sport. In Singapore specifically, the culture of saving and investing grew rapidly precisely during the years when boomers were old enough to start building their wealth.Measured by Gross National Product (GNP), which is the value of products and services produced by citizens both domestically and internationally, savings rate went from -3% in the 1960s to an average of 28% in the 1970s, 41% in the 1980s, and nearly 45% by 2001.Source: singstat.gov.sgOn top of that, the spending culture was much more modest, and people leaned heavily toward prudence. This explains why private consumption was very low, especially when you compare it to countries like Korea and Japan, who have similar per capita income levels to Singapore.Source: IMF, WEO DatabaseBoomers just had a very different lifestyle, and many have kept their habits even today.Dining out? Maybe for special occasions.Holidays? Not every year, and choose somewhere not too far.Shopping for fun? Don't have such a habit!So it's no surprise that even today, about 60% of Singapore's boomers prefer a lower-cost product over a well-known brand.However, it's also important to remember that boomers grew up in a completely different economic reality than what younger generations are familiar with today. Unemployment was declining, inflation was relatively low, and public housing had just started expanding.HDB was only established in 1960 to tackle the housing shortage problem. So as new towns emerged everywhere, demand hadn't caught up with supply, and competition for flats was nothing like today. Boomers were also among the first to benefit from the CPF system (introduced in 1955), which basically "forced" them to save and channel that savings directly into homeownership.More importantly, property prices were much more affordable compared to income. Back in the 1980s, the median household income was about $900, and the price of a 4-room flat in a new town was about $40,000. If you disregard inflation and any other changes, it takes less than 4 years to save up for that home. Of course, these figures reflected a very different economic structure, but the price-to-income ratio still made homeownership far more accessible than today.Fast forward to 2024, the median household income was $9,999 (excluding CPF contributions). Meanwhile, the average resale price of a 4-room flat was $826,550. That's close to seven years of income.Even new flats were not that much better. A 4-room BTO Plus project commanded between $453,000 and $727,000 (based on the October 2024 pricing), which still means up to six years of income to match the price. And again, that's if we don't take inflation into account (which is not realistic, obviously).If the gap is this wide in the public sector, just imagine the private market. Also, if you're buying as a single, the challenge basically doubles. One income, same home prices.So boomers didn't need some big, lucky investment to be able to afford a home. After a few years of disciplined saving, they were able to buy property. That's delayed gratification in action. You save first, enjoy later. For boomers, this was normal, almost expected even.Millennials and gen ZOn the other hand, millennials and gen Z grew up in a different Singapore: higher cost of living, tighter borrowing conditions, consumption culture, online shopping, and easier access to travel and entertainment. And thanks to the convenience of digital payments, the younger generations are spending more on lifestyle categories.The evidence is clear. UOB's card transaction data even show that those under 35 are the top spenders, especially for travel and dining. And honestly, it's not hard to see why millennials and gen Z lean towards experiences, convenience, and the little joys of instant gratification. When property prices keep climbing and inflation eats into every pay cheque, homeownership can feel a little out of reach.It's just like the Lipstick Effect, a theory of behavioural economics. During the early 2000s recession, makeup company Estee Lauder noticed a spike in their lipstick sales. So, the theory suggests that when times are tough and big purchases feel out of reach, people don't stop spending completely. Instead, they treat themselves to the smaller things, like lipsticks.The younger generations are doing the same today. The big stuff can wait, but the small luxuries? Those are the little boosts that get you through life.Just to be clear, these lifestyle shifts didn't cause the affordability gap. They were a reaction to it. It's not that the younger generations are irresponsible with money or don't want to own a home, it's just that they have to adapt to a different environment.And when they do finally decide they're ready to buy a home, they're hit with the tight competition for BTO flats, especially in popular towns. The rise in demand, increased household formation, delayed marriages, and shrinking flat supply in mature towns have made allocation much more competitive. Who's surprised?As a result, it's become a norm amongst younger buyers that desirable BTOs have a lottery effect.Gen XGen X is kind of in between the prudent boomers and the more relaxed younger generations. They grew up watching their parents save aggressively, but they also came of age during Singapore's rapid modernisation, when spending became more common and lifestyles began to shift.During their time, new shopping malls were built, white-collar industries were growing, and the early wave of overseas holidays became more common. So while gen X carried many of their parents' practical habits, they also started embracing convenience, travel, and branded goods in a way boomers never did.Economically, gen X entered the workforce during Singapore's high-growth years of the late 1980s and 1990s, when wages were rising quickly and unemployment was generally low. But they also lived through the Asian Financial Crisis (1997) and dot-com crash (2000), which may be why they're more financially cautious than millennials or gen Z.In terms of housing, gen X was among the first cohorts to shape the HDB resale market, because HDB liberalised CPF usage and rolled out housing grants in the early 1990s. That made resale flats a practical and attractive option for young families, something boomers didn't have access to when they were starting out.So in a way, Gen X is the "bridge" or "sandwich" generation.Risk appetiteBoomers grew up conservative. They prefer stability, security, and guaranteed returns. So they tend to invest in property, maintain savings accounts, perhaps some blue-chip stocks on the side. For them, wealth is something you build slowly and protect fiercely.Millennials and gen Z grew up in a world with cryptocurrencies, NFTs, meme stocks, IPOs, and venture capitals. With digital platforms making investing so easy, they tend to be more adventurous and explore a little bit of everything. For them, liquidity and flexibility matter. So property, with its large upfront cost and long holding period, doesn't always check those boxes.Gen X, again, sits in the middle. They inherited the boomer instinct to "play safe," but they were also the first to experience the rise of unit trusts, insurance-linked products, and the boom of the 1990s stock market. Many of them still prefer steady, long-term assets, but they're not afraid to take calculated risks. Their mindset is very much: "Grow, but don't gamble".But regardless of age, one constant remains: property continues to be one of the most reliable ways to grow your asset. The difference lies in when and how each generation chooses to enter the market.The bottom lineAt the end of the day, every generation is just trying to make the best financial decisions they can with the hands they were dealt.Boomers grew up in an era of stability and affordability, where owning a home only took a few years of saving. Millennials and gen Z, on the other hand, are navigating a completely different landscape: rising costs, income not keeping pace, and more competition. Gen X is somewhere in the middle. They inherit some of their parents' saving mindset, but are also exposed to a lot of modernisation.So it's no surprise that each group behaves differently. They lived through different prices, different rules, different systems, and different levels of competition. These ultimately shaped their lifestyles, spending habits, risk appetite, and housing decisions.And that's why telling younger generations to stop buying lattes or bubble teas isn't going to change anything. Strategies that worked in the 1980s are simply not going to work today. It's not about copying what your parents did back in their day, it's about structuring moves that make sense for today's numbers.That's why you need to have the right planning, sequencing, and financial structure based on today's numbers, not yesterday's assumptions.If you'd like to stay ahead with data-backed insights and practical steps tailored to current conditions, you're welcome to join our upcoming free seminars or even the real estate masterclass. It's a good way to understand your options, whether you're planning your first move or your next one. Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.

New Integrated Development Coming To Hougang Central

When seeking out a dream home, what do buyers look out for? Many will often state attributes like being located near an MRT station, plenty of amenities, and schools in the vicinity. Given the phrase "Time is Money", it is unsurprising that many homebuyers zero in on projects that offer the greatest convenience.If all this sounds enticing, the new integrated development coming to Hougang may be of interest to you. The tender for the 'commercial and residential' site in Hougang Central - which can yield an estimated 835 units and 40,000 sqm of commercial space - closed on 16 December 2025 and garnered three bids. The top bid of $1.5 billion, which was submitted by Horizon Residential, translates to a land rate of $1,179 psf per plot ratio (psf ppr). As the first major condominium launch in the neighbourhood in around six years, the upcoming mixed-use project could see healthy pent-up demand.MRT right at your doorstepBeing an integrated development, it will be connected to the Hougang bus interchange and virtually on the doorstep of Hougang MRT station on the North-East Line (NEL). Via the NEL, residents will have easy access to MRT interchanges in Serangoon, Little India, Dhoby Ghaut, and Outram Park.With Hougang MRT station soon to be linked to the upcoming Cross Island Line (CRL), the development will enjoy even better connectivity to other parts of Singapore. The CRL takes commuters to various interchange stations, linking up with the North-South Line (Ang Mo Kio station), the Thomson-East Coast Line (Bright Hill station), the Downtown Line (King Albert Park station), and the East-West Line (Pasir Ris and Clementi stations). In addition, the CRL extension to Changi Airport Terminal 5 is currently under development and is expected to be completed in the 2030s.Source: CNA, Land Transport Authority Amenities galoreThe Hougang Central project is also well-positioned among a myriad of amenities. As a mixed-use development, future residents can enjoy the convenience of commercial offerings on-site, including a supermarket, food court, and shops. For other options, the newly refurbished Hougang Mall is mere minutes' walk away, and also offers a supermarket, along with a variety of food, retail, and services options. Meanwhile, the HDB residential area adjacent to Hougang Mall also has several shops.For those willing to travel a little further via the NEL, it opens up a wider selection of retail offerings. These include NEX in Serangoon, Woodleigh Mall, Heartland Mall in Kovan, Compass One in Sengkang, Sengkang Grand Mall in Buangkok, and even Waterway Point and Punggol Coast Mall.If getting in a morning jog or cycling session is more your jam, there are plenty of exercise spots near the Hougang Central plot. The Punggol Park is about 10-minutes' walk away and is part of the North Eastern Riverine Loop that runs through Buangkok, Sengkang and Punggol - perfect for leisure walks and cycling. For those who prefer some sporting action, the Punggol Community Club and Hougang Skatepark is situated just opposite the upcoming development, while the Hougang Sports Centre nearby is set to re-open in Q1 2026.Source: Frasers Centrepoint Trust Schools in the vicinityFamilies with young children may also be glad to know there are a myriad of primary schools within 1-km from the development, including CHIJ Our Lady of the Nativity Primary, Holy Innocents' Primary School, Monfort Junior School, Punggol Primary School, and Yio Chu Kang Primary school. Other schools like Monfort Secondary school, Holy Innocents' High school, Xinmin Primary and Secondary schools, and Serangoon Secondary School are also nearby, with the new Singapore Institute of Technology (SIT) campus in Punggol Coast just four MRT stops from Hougang.Taken together, this project in Hougang Central checks many boxes in terms of what buyers are looking for in a home. Being in an amenity-rich area and within walking distance to the bus interchange and MRT station, this project will likely draw strong buying interest from both end-users and investors. About the DeveloperHorizon Residential is a consortium comprising UOL Group, CapitaLand, Singapore Land Group, and Kheng Leong, all whom are renowned property developers in Singapore.UOL Group is a leading developer and public-listed firm with a proven track record of more than 60 years. It boasts a diversified portfolio of development and investment properties, hotels and serviced suites in Asia, Oceania, Europe, and North America. Some of its notable residential projects include Skye at Holland, UPPERHOUSE at Orchard Boulevard, Parktown Residence, and Meyer Blue.CapitaLand is one of Singapore's leading public-listed property developers, with a portfolio focused on real estate investment management and real estate development. CapitaLand Development (CLD) is the development arm of CapitaLand Group, focusing on its core markets of Singapore, China and Vietnam across various asset classes, including integrated developments, retail, office, residential, business parks, industrial, logistics and data centers. Some notable residential projects include Skye at Holland, Parktown Residence, LyndenWoods, J'den, and CanningHill Piers.Singapore Land Group (SingLand), formerly United Industrial Corporation Limited, is a partly-owned subsidiary of the UOL Group. Singapore Land too, has a diversified portfolio comprising commercial investment properties, residential developments, hotels and IT services. Its residential development properties include Skye at Holland, UPPERHOUSE at Orchard Boulevard, Parktown Residence, and Meyer Blue.Founded in 1949, Kheng Leong Company is a Singapore-based real-estate developer and investment group with interests in property development and commercial investment. Among its residential portfolio include projects like Skye at Holland, Canberra Crescent Residences, 21 Anderson, and 32 Gilstead.

The 2026 Launch Rush Part 2: The Next Wave to Watch

TL;DR The March-May 2026 launch wave completes the first half of Singapore's most active new-launch period in years. Five more projects will give young buyers clearer benchmarks on pricing, positioning, and safe entry points. What's launching: Pinery Residences, Tengah Garden GLS, Media Circle Parcel A GLS, Bayshore Road GLS, and Lentor Gardens GLS - spanning OCR heartlands, city-fringe innovation hubs, waterfront living, and emerging family enclaves. Why it matters: Delayed pipelines, strong late-2025 demand, and government-led growth areas are converging, creating a rare cluster of launches within a short window. Buyer advantage: More choice across budgets, clearer pricing comparisons, and opportunities to enter before newer GLS land bids potentially push prices higher in 2H2026. Who it suits: Young families, first-time private buyers, upgraders, and investors - each project caters to different lifestyle and long-term planning needs. One to watch: Bayshore Road GLS, offering early access to a future car-lite waterfront precinct with MRT connectivity, coastal living, and long-term transformation upside. Bottom line: The final wave of 1H2026 launches is less about rushing and more about readiness. Buyers who plan early, benchmark carefully, and align choices with long-term progression stand to benefit most. The first quarter of 2026 is set to open strong with a series of new private home launches - and the pace isn't expected to slow down. If you're not yet familiar with the upcoming Q1 launches, we recommend reading Part 1 first to get the full picture before diving into this next wave.From March to May 2026, another five major projects are slated to enter the market, completing the first half of Singapore's new launch calendar. For young homebuyers and upgraders, this next wave presents fresh opportunities to find a home that aligns with both lifestyle needs and long-term plans. What you'll find in this article: Why These Launches Matter The March-May Launch Line-Up: What's Expected Who These Launches Are Likely to Attract A Quick Guide to the Five Projects Price Trends & Safe Entry Insights My Take: The One to Watch Conclusion In this Part 2 instalment, we unpack the upcoming launches: Pinery Residences, Tengah Garden GLS, Media Circle Parcel A GLS, Bayshore Road GLS, and Lentor Garden GLS - each located within precincts undergoing transformation, infrastructure growth, or urban renewal.Why These Launches Matter These March-May projects round off the first half of 2026's new launch pipeline, giving buyers a fuller picture of pricing, product positioning, and location tiers. Taken together, these launches reflect a market shifting from catch-up mode into a more competitive, choice-driven phase.Cause - Effect - Buyer ImplicationConverging launch timelines: Developer pipelines that were delayed or staggered in recent years are now aligning, resulting in multiple launches in close succession.What this means for buyers: more options across different budgets and districts. Government planning shaping new growth areas: Tengah, Bayshore, one-north, and Lentor are precincts influenced by major planning initiatives.What this means for buyers: early entrants may benefit from long-term uplift as amenities, transport lines, and commercial nodes mature. A clearer benchmark for pricing: With more launches packed into 1H2026, buyers gain a better sense of fair value across market segments. More importantly, many of these upcoming launches are still expected to be priced based on earlier land-cost benchmarks, which may make them more attractively positioned before newer GLS bids potentially push price levels higher in the second half of the year.What this means for buyers: greater clarity when assessing safe entry pricing, and an opportunity to enter before future land costs reset market expectations. Increased competition among developers: A tighter launch window may encourage developers to differentiate strongly through design, layout efficiency, or pricing strategies.What this means for buyers: buyers may enjoy enhanced value propositions.The March-May Launch Line-Up: What's Expected Here's a snapshot of the developments expected to launch from March to May 2026:Pinery Residences: A nature-fringed development near parks, schools, and amenities.Tengah Garden GLS: Tengah's first non-EC private condo anchoring the town's eco-vision.Media Circle Parcel A GLS: A city-fringe condo within the innovation cluster of one-north.Bayshore Road GLS: A rare private launch in the upcoming car-lite Bayshore waterfront precinct.Lentor Gardens GLS: Part of the evolving Lentor neighbourhood with strong family appeal.Who These Launches Are Likely to Attract Each project caters to different profiles of young buyers and upgraders:Pinery Residences: Upgraders and families who want proximity to nature, established schools, and everyday convenience.Tengah Garden GLS: First-mover buyers seeking long-term potential in Singapore's newest smart eco-town.Media Circle Parcel A GLS: Young professionals and investors drawn to one-north's tech, research, and media ecosystem.Bayshore Road GLS: Buyers who value East Coast living, upcoming MRT connectivity, and a master-planned waterfront precinct.Lentor Gardens GLS: Families seeking larger layouts, walkability, and community-focused amenities.Across these launches, the underlying opportunity for younger buyers lies in thoughtfully sequencing their property decisions - choosing a home that fits today without limiting tomorrow's upgrading pathways.A Quick Guide to the Five Projects Pinery Residences * Unit plans have not yet been released at time of writingLocation: Tampines St 94, within the established Tampines heartland and close to Tampines West MRT, green spaces like Bedok Reservoir, and Temasek PolytechnicLayouts to expect: A wide mix of 2- to 5-bedroom units across 596 units in total, including premium stacks designed for multi-generational living.Most popular layout: The 3-bedroom configurations will appeal to young families who prioritise both space efficiency and proximity to schools and amenities.Why it matters: As a major condominium in a mature town with strong connectivity and diverse amenities, it offers long-term occupiers a practical blend of convenience and future-ready value. Tampines also sees steady upgrader demand from its many mature HDB and EC precincts, yet private projects near MRT stations remain relatively limited - making new launches in this area particularly attractive for both homeowners and renters, particularly professionals working in nearby commercial hubs such as the Tampines Regional Centre and Changi Commercial Park.Tengah Garden GLS Location: Within Tengah's Garden District - Singapore's first smart, car-lite, sustainable HDB town.What to expect: A 99-year leasehold development with commercial at 1st storey. URA estimates the project could yield up to 860 units, likely comprising efficient 2- to 4-bedroom layouts.Why it matters: As one of Tengah's earliest private launches and the town's first non-EC private mixed-use development, it is well-positioned to benefit from strong first-mover interest. Backed by a major consortium and planned as part of Tengah's eco-town vision, the project is set to play a key role in shaping the township's private residential landscape. As Tengah's MRT stations, commercial areas, and key amenities take shape over the coming years, this development is expected to anchor early demand and contribute to the town's emergence as a next-generation, sustainable neighbourhood.Media Circle Parcel A GLS Location: Situated along Media Circle within the one-north innovation district, surrounded by tech, R&D, and media clusters such as Fusionopolis, Biopolis, and Mediapolis.What to expect: A 99-year leasehold private residential development with commercial at 1st storey targeting professionals in the one-north workforce. The possibly 325-unit site reflects continued confidence in the precinct's growth potential and rental demand. Final design and features will be shaped by one-north's positioning as a vibrant, innovation-led node.Why it matters: One-north consistently attracts a deep pool of tenants from high-skilled industries, and recent bidding interest underscores developers' belief in the area's long-term resilience. As one of the newer GLS plots shaping the district's next phase, this development is well-placed to anchor early buyer interest and support one-north's evolution into a more complete live-work-play ecosystem.Bayshore Road GLS Location: Located within the upcoming Bayshore precinct - a purpose-built, car-lite waterfront neighbourhood anchored by the future Bayshore and Bedok South MRT stations.What to expect: A 99-year leasehold private residential development that could yield up to 515 units. The plot drew strong interest with eight bids, signalling developers' confidence in the district's long-term appeal. Buyers can expect a mix of unit types designed to complement the area's planned waterfront boulevards, parks, and community amenities, with some stacks potentially enjoying unblocked sea views given the precinct's coastal frontage.Why it matters: This is one of the first GLS sites shaping the Bayshore masterplan, giving early entrants a rare chance to secure a home in a future coastal lifestyle. With two MRT stations, a car-lite town design, and strong developer interest, the precinct is set to evolve into a highly sought-after waterfront neighbourhood as it matures.Lentor Gardens GLS Location: Part of the expanding Lentor precinct, within walking distance of Lentor MRT and future amenities planned across the neighbourhood's integrated development.What to expect: A 99-year leasehold 500-unit private residential development within a growing private residential enclave. While detailed plans are still to come, buyers can expect a project shaped by Lentor's broader vision of a walkable, family-oriented neighbourhood with strong MRT connectivity and upcoming amenities.Why it matters: Lentor Gardens is the seventh GLS parcel within the emerging Lentor Hills private residential estate. The neighbourhood has been drawing strong interest from homebuyers thanks to its proximity to the Lentor MRT Station on the Thomson-East Coast Line, as well as upcoming parks, retail offerings, and community amenities. As part of a precinct still taking shape, this plot offers young families the chance to secure a home early in a well-planned, walkable neighbourhood with meaningful long-term uplift potential. With multiple GLS launches in the Lentor Hills estate, pricing and value differentiation will matter more than ever for buyers comparing options.Price Trends & Safe Entry Insights With multiple launches unfolding within the same half-year, young buyers will have clearer reference points to assess fair value and identify safe entry prices. Most importantly, many of the 1H2026 launches are expected to be priced based on earlier land-cost benchmarks, secured before the higher land bids anticipated in the second half of the year. As newer GLS tenders set fresh price records, future launches may enter the market at higher baseline figures - making this current window potentially more favourable for well-prepared buyers.A few practical considerations, framed through principles that align with structured, progression-based planning:Budget with intention, not emotion: Anchor your decision on what you can sustainably hold, not the maximum the bank approves.Plan for valuation gaps and interest rate buffers: These matter more than headline psf figures and protect you from unexpected cash outlays.Ensure lifestyle fit without over-stretching: Choose a layout that supports your next 5-8 years so you avoid premature upgrading.Think ahead to your exit: Review surrounding transformation plans, future resale demand, and how easily your chosen unit type typically moves in the secondary market.Engaging a trusted agent equipped with advanced financial tools can help you stress-test scenarios, calculate safe entry ranges, and ensure your purchase supports - not restricts - your long-term progression. Safe entry is less about buying cheap, and more about preserving flexibility for future moves.My Take: The One to Watch While each development offers its own strengths, Bayshore Road GLS stands out for its long-term potential. Beyond its placement within a purpose-built, car-lite waterfront district, the precinct is shaping up to become one of Singapore's most thoughtfully master-planned coastal neighbourhoods. With two upcoming MRT stations, strong connectivity, unblocked sea views from selected stacks, and a layout designed around walkability, community, and green spaces, Bayshore is positioned to appeal to a wide spectrum of future buyers.Living near the area myself, I've seen how the precinct is already evolving - and there's genuine excitement around how the wider coastline will transform in the years ahead. With the East Coast Parkway (ECP) right beside the precinct, residents will enjoy both fast islandwide access and the lifestyle appeal of ECP's beaches, cycling paths, and recreational spaces.Combined, these factors create a compelling value story that is difficult to replicate elsewhere. As with any emerging precinct, buyers should be comfortable with a longer maturation timeline before the area fully comes into its own.That said, suitability depends entirely on your goals and budget. Those prioritising rental demand may lean towards Media Circle, while families seeking green space may find Pinery Residences or Lentor Gardens GLS a more natural fit.Conclusion: Preparing for 1H2026's Final Wave With the March-May launches closing off a busy first half of 2026, this period offers young buyers a valuable window to compare options, benchmark prices, and build clarity. The advantage isn't in rushing - it's in preparing early enough to recognise a good fit when you see it. Exploring different scenarios, understanding your financial buffers, and speaking with experienced advisors can make all the difference between a reactive decision and a confident one.Attend our Consumer Empowerment Seminars (CES), PWS, explore financial scenarios, and engage with agents who can help you navigate the choices with confidence.Coming Up NextAs the year progresses, the second half of 2026 may bring even more launch activity. Stay tuned for our upcoming breakdown if you'd like a clearer view of what's ahead - and how to plan your next move strategically.Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.

Do You Have the Japan Fever?

TL;DR Japan property is trending among Singaporeans, but it's not just because everyone is travelling there. Why interest is rising: The SGD has strengthened to around 120, tourism has exceeded 20 million visitors in the first half of the year, and foreign property purchases in Japan are at all-time highs. What Singaporeans like: Osaka tends to attract more buyers due to higher yields (~5%), lower prices (about 30% below Tokyo), and more flexible rules for short-term rentals. The risks: Fast depreciation of buildings, ageing demographics, over nine million vacant homes nationwide, and ongoing maintenance, tax and insurance costs. Airbnb vs long-term rentals: Minpaku units can offer higher returns but are capped at 180 days a year and heavily regulated. Regular residential units are more stable but less lucrative. What buyers must evaluate: Building age, earthquake standards, zoning rules, rental regulations, holding costs, financing difficulty, and local demand. Bottom line: Japan properties can be a great way to diversify your assets, but it's important to know your goals, understand the risks, and compare overseas options. Have you noticed that lately everyone is visiting Japan? Whenever you're scrolling through social media, it's all sakura shots and trendy food snaps. It's true. There's been a real Japan fever going on.But this "Japan fever" isn't just driven by vacations anymore. It's being fuelled by macro drivers like FX movements, tourism rebound, and increasing global investor interest in Japanese real estate. In fact, real estate purchases by foreign investors are at an all time high right now.It's pretty clear that this is more than just a travel trend. Perhaps the start of something bigger? In this article, we will explore: Why Japan? Here's the catch Airbnb vs regular residence? Checklist for buyers So do you have the Japan fever?Why Japan?So why is Japan suddenly trending now, and not just for travel, but for property?In general, Japanese properties are more affordable when you compare them to what we're used to paying in Singapore. In many cities, you can still find well-located apartments at prices that seem almost unreal to us, especially when we've been seeing million-dollar HDB headlines every other week.With affordability looking attractive overseas, Singaporeans who are considering a second (or even third) property naturally start comparing options. After all, owning more than one home here means paying Additional Buyer's Stamp Duty (ABSD).But beyond that, the real reason Japan is suddenly trending now comes down to...Timing.The Japanese yen has been weak for a while, and the Singdollar even reached a new high: about $1 to 120 yen. This gives Singaporeans more purchasing power, making Japan properties even more affordable for us. Not to mention the market has shifted towards a low interest rates policy, so borrowing costs are low.Then there's tourism.With Japan's tourism boom showing no signs of slowing, short-stay demand has been rising steadily too. International arrivals even crossed 20 million visitors in just the first half of the year.This is why investors are particularly drawn to rental-friendly locations with strong tourism flows. And even though iconic districts in Tokyo like Ginza, Roppongi, Shibuya and Shinjuku will always draw interest, Singaporean buyers tend to prefer places like Osaka where the rental yields are higher (5% compared to Tokyo's 3%). Furthermore, property prices in Osaka are roughly 30% lower than Tokyo and there are fewer restrictions on short-term rental operations.As a matter of fact, there aren't many restrictions on foreign buyers to begin with.Foreigners can own land and buildings with the same rights as Japanese citizens. No special conditions, no additional restrictions, and no leasehold constraints. There is also no major extra "foreign buyer tax" like ABSD in Singapore. That makes the whole process significantly more straightforward, especially compared to other international markets.Here's the catchAs exciting as it sounds, it's also important to be clear about the drawbacks of investing in Japanese properties.1. Japanese buildings depreciate quickly.Unlike Singapore, where older condos can still hold strong resale demand, Japan homes depreciate very fast. Many properties lose most of their structural value within a few decades, and in some cases, owners may even have to pay for demolition before selling the land.A big part of this comes down to their culture. New homes are prized, and being the first owner is often seen as a mark of success. Whereas older properties are seen as less appealing, especially if they are associated with death or bad luck, also known as 'jikobukken'. We also need to factor in wear and tear, earthquake exposure, and evolving safety standards. Even earthquake-resistant designs don't fully protect older buildings from becoming financial burdens over time.2. Demographics are a real long-term concern.Japan's ageing population and declining birth rate have created a long-term issue for housing demand. Yes, Singapore faces a similar problem, but the difference is: there are already over nine million vacant homes or 'akiya' across Japan. To put things into perspective, the entire Singapore population can each have one house and there'd still be three million empty homes left.Even a major city like Osaka is already feeling the pressure. For investors, this means you need to be especially selective. The wrong location could leave you with a property that's hard to rent out and even harder to sell.3. Costs can add up quickly.Beyond the purchase price, taxes can amount to 6 - 7%, realtor fees hover around 3%, and consumption tax may apply. On top of that, you'll need to budget for permits, inspections and earthquake insurance, which isn't exactly optional in a country that experiences regular seismic activity.4. Financing can be challenging for foreigners.Despite the low mortgage rates, actually getting approved as a foreigner is not straightforward. Banks tend to favour borrowers with strong local ties and you'll need proof of stable income, clean tax records, and in some cases, even a guarantor. For Singaporeans with no established financial footprint in Japan, getting a loan can be a long and frustrating process.Airbnb vs regular residence?Did you know that in Japan you can buy properties specifically for short stays like Airbnb? Some buildings are zoned and approved entirely for short-stay use under the Minpaku Law (or Private Lodging Business Act), which legalised short-stay operations nationwide from 2018 onwards. Basically, they were built, managed and operated with tourist rentals in mind.On paper, they can look extremely attractive. Tourist demand is strong, occupancy is high during peak seasons, and nightly rates can be far more lucrative than long-term rental income. That being said, it's important to note that short-stay rules in Japan are strict.For one, minpaku properties are capped at 180 rental days a year, and local governments can impose additional restrictions. For example, certain Tokyo wards restrict rentals to specific days or seasons, and certain areas in Kyoto may limit rentals to off-peak tourist seasons. Not to mention condominium management boards may have their own rules too.On the flip side, "regular" residential units, as in the kind you typically rent out to locals, offer more predictable occupancy. Plus, you don't need to worry about seasonal dips, cleaning turnover, guest complaints, or neighbourhood zoning. Of course, the yields are usually lower than what a successful minpaku unit can achieve. But then again, it would be difficult to predict how much success a minpaku investment will actually deliver.Ultimately, it depends on your goal and risk tolerance. If you're chasing high yield and don't mind dealing with operational demands, you might want to take a chance with a minpaku unit. But if you prefer something stable and hands-off, especially as an overseas investor, long-term rental units tend to be the safer option.Checklist for buyersKnow what you're actually buying.Japan has all sorts of property types, and not all of them make sense for foreign buyers. It would make more sense to stick to newer city units because older homes and akiya can come with major renovation costs. Make sure you understand the title, lease, age and upkeep before getting excited about the price.Learn about rental rulesYes, tourism is booming, but Japan's short-stay rules are strict. Osaka is generally more flexible than Tokyo, but it still depends on the building and zoning. If your whole plan is rental income, double-check the fine print before you buy.Consider long-term costsA cheap unit doesn't mean it's cheap to maintain. Between property taxes, management fees, sinking funds, insurance and agent fees, your yearly costs can stack up fast. If the yen strengthens later, your renovation or loan costs might also go up. Always calculate the full cost of holding the property, not just buying it.Choose the right locationTwo stations apart can act like two entirely different markets. Look at population trends, rental demands, tourist flows, train lines, nearby schools or business hubs, and whether the building meets newer earthquake standards.Visit the location and/or work with agentsMany foreigners buy through agents, but visiting in person might give you an advantage. Photos don't always appear as they are and you can't tell noise levels from a picture. If you can afford the trip, it's worth seeing the unit for yourself. If not, work with an agent who is experienced with foreign buyers who can give you full transparency.Be clear and realistic about your goalsJapan is great for diversification. It's a good option if you want something stable, affordable and different from what we see here in Singapore, but you can't just expect fast and significant gains. This is why we always encourage our audience to learn about the Property Wealth System (PWS) framework. So you can compare different markets, be it Japan or Singapore, and figure out which one actually supports your long-term plans.Expect surprises along the way.Even the best listings won't show you everything. You may not like your new neighbours or you might not get enough rental demand outside peak seasons. None of these are deal-breakers, but it's good to be prepared.So do you have the Japan fever?If you're feeling tempted to hop on the trend, I don't blame you. But don't just buy a Japan property simply because everyone else is doing it. Instead, you should study the market, know the risks, and set a clear goal.Yes, when you compare the low entry prices, rental demand and borrowing costs to what we're used to back home, it's hard to resist. But, the challenges that come with navigating a foreign market are just as real. Besides, Japan is not the only overseas choice out there.Malaysia (especially JB and KL), for instance, appeal to those looking for more affordable homes that are closer to Singapore. Cities like Manchester and Cambridge in the UK appeal to those looking for a steady rental income and capital appreciation. New Zealand and Australia have tax advantages and strong rental demand, especially in urban areas.Ultimately, what matters most is having a strategy, not just a destination. So if you are interested in learning more about overseas investments, do consider attending our upcoming Property Wealth System (PWS) Seminar. Here's a short clip to give you a preview: Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.

Top Scoop: 2026 Property Market Outlook with Ismail Gafoor and Kelvin Fong

With the robust private new home sales in 2025, buyers, sellers, and investors alike are asking the same question: What's next? We spoke with PropNex Executive Chairman Ismail Gafoor and CEO Kelvin Fong who share their insights, predictions, and on-the-ground perspectives on the key trends that will shape the property market in 2026.1. What do you think are the three big trends that will come to shape the private residential property market in the next year? (e.g. moderating interest rates, cooling measure/policy risk)ISMAIL: Despite macroeconomic uncertainties, Singapore's private residential property market demonstrated remarkable resilience in 2025, balancing strong home sales with measured price growth amid falling interest rates, positive economic outlook, the bounce in the stock market, and an attractive slate of new launches.In 2026, we expect some of the key trends may be: 1) a more accommodative interest rate environment with favourable borrowing rates for homebuyers; 2) resilient private housing demand and gradual price upside; and 3) lower supply of new launches in 2026 will help to underpin demand and sales. By our estimates, some 8,400 new private homes (ex. executive condos) may potentially be launched for sale in 2026 - down from around 11,500 units (ex. EC) that were launched in 2025.In contrast, there may be more EC units launched for sale in 2026, starting off with the 748-unit Coastal Cabana in Pasir Ris and the 572-unit Rivelle Tampines in Q1 2026. Depending on developers' marketing plans and timing in securing the relevant sales approvals, we may potentially see more ECs being launched at the end of 2026, such as the ones in Senja Close and Woodlands Drive 17. To this end, 2026 may be a banner year for new ECs.2. What is your outlook for the private residential market next year in terms of new home sales and pricing? What is your projection in terms of home prices?ISMAIL: Overall, we are projecting a year of steady sales and moderate price growth, at about 3% to 4% for the private housing market in 2026. In the first nine months of 2025, the URA property price index rose by a relatively measured 2.7%, and the full year price growth in 2025 may likely come in at around 4%.In terms of transaction volume, new home sales in 2026 may range from 8,000 to 9,000 units (ex. EC) in view of the tighter supply of launches. Meanwhile, private resale transactions could be stable, hovering at around 14,000 to 15,000 units in 2026.3. How do you expect buyer demand to evolve across CCR, RCR, and OCR segments in 2026? And which segment of buyers (e.g. investors, upgraders, locals etc.) will drive sales next year, why?ISMAIL: Looking at 2026, the main buyer group will once again be Singaporeans, comprising first-time buyers, HDB upgraders and investors. Based on caveats lodged, Singaporean buyers made up about 89% of the new non-landed private home sales transactions (ex. EC) in the year-to-23 November 2025 period - among the highest proportion since records started in 1995.We anticipate the Outside Central Region (OCR), also known as the mass-market to be the key sales driver of developers' sales, owing in part to a larger portion of new launches in this sub-market. The OCR makes up more than 60% of the new units (ex. EC) that may potentially come on in 2026, based on our estimates. In addition, demand for OCR homes is also often spurred by their greater affordability, family-friendly layouts, and sustained interest from HDB upgraders.Over in the city fringe or Rest of Central Region (RCR), homebuying interest may be stable give that the RCR bridges the gap between prime, luxury homes and suburban housing. A big appeal of RCR projects lie in their relatively central locations coupled with better affordability than CCR units. We expect RCR launches to attract a diverse mix of buyers - HDB upgraders, professionals, and perhaps even some investors looking for a good balance between proximity to the city and keeping within their housing budget.As for the Core Central Region (CCR), demand has rebounded impressively in 2025, but we observe that the spike in interest is selective, with buyers gravitating towards CCR projects nearer to amenities and within walking distance to an MRT station. Hence, location and realistic pricing will be two key factors that could drive the CCR market in the new year.Notably, we will likely continue to see the blurring of the distinctions between regions in the market, exacerbated by transport infrastructure improvements shrinking distance, decentralisation taking root outside the city centre, the development of more mixed-use projects in the suburbs, and as developers offer premium projects even outside of the CCR.4. What do you think are the bright spots for the housing market in 2026? Where do you see the most compelling opportunities for homebuyers? (e.g. CCR narrowing price gap)KELVIN: Picking up on the earlier point, I agree that CCR will be one to watch in 2026. We reckon the CCR could see sustained demand in 2026, underpinned by the remarkable sales performance achieved in 2025. Developers sold over 1,800 new private homes in the CCR in roughly the first 11 months of 2025 - already far exceeding the 378 units shifted in the whole of 2024. We think recent sales trends bode well for CCR launches in 2026, which include Newport Residences in Anson Road, River Modern in River Valley Green, the Dunearn Road and Holland Link projects.One driver of the CCR market is the narrowing price gap between non-landed new private homes in the CCR and that of the RCR, and the attractive pricing offered by developers. Based on caveats lodged, the median unit price gap between the new non-landed homes in the CCR and RCR was 9.8% in 2025 (till 23 November) - the narrowest on record. Meanwhile, CCR prices have been calibrated to better suit a wider budget range. In the first 11 months of 2025, about 62% of new non-landed CCR homes were sold for below $2.5 million, the highest proportion in about four years. Apart from the CCR, there are also opportunities in the RCR, OCR as well as the EC segment. The OCR, in particular, could be a market driver in the new year with a number of exciting launches.As Ismail said, we are expecting a year of steady sales in 2026. In addition, I believe the overall unsold inventory looks to be manageable. Based on figures from the URA, the number of unsold uncompleted private homes (ex. EC) hit the lowest in seven quarters in Q3 2025 at 17,029 units - which may be absorbed by the market in less than three years, even if we take a conservative sales tally of 7,000 units each year. We expect developers to continue to calibrate their pricing strategies to keep price quantum accessible to buyers - with the pricing sweet-spot hovering at around $1.5 million to $2.5 million.5. What are some highlights in 2026's launch pipeline? What affordability challenges do you expect households to face, and how are developers likely to respond? (e.g. a lot of GLS with higher land cost will be launched, impact on prices)KELVIN: The new launch pipeline in 2026 will be tighter than that of 2025. Despite that, we do think there are still ample options for prospective buyers, and the launches will offer a wide variety of unit sizes that could fit different budgets.We will see more projects in familiar areas which have been quite popular with buyers, such as in Dairy Farm Walk, Lentor Gardens, and Chuan Grove. Meanwhile, other highly-anticipated launches in 2026 include the projects in Tengah Garden Avenue, Bayshore Road, and Dunearn Road - which are the first new private homes to hit the market in the new Tengah, Bayshore, and Bukit Timah Turf City housing precincts, respectively. We expect keen interest for these projects among homebuyers owing to the first-mover advantage, and possibly pent-up demand for private homes in these new housing areas.The spotlight could also be shone on mixed-use developments in 2026, with several projects offering commercial spaces on-site. They include Pinery Residences in Tampines, the upcoming development in Chencharu Close in Khatib, projects in Lakeside Drive and Tengah Garden Avenue, River Modern and Newport Residences in the CCR, and Media Circle (Parcel A) in the RCR. Of note, most of these projects are located close to, or linked to an existing or upcoming MRT station - enhancing their appeal to buyers who value both convenience and strong transport connectivity.Potential mega developments to look out for could be the redevelopment of the Thomson View en bloc site which will yield 1,240 new units. Meanwhile, the successful tenderers of the two Chuan Grove GLS sites plan to amalgamate the two plots and undertake a single residential development that may offer around 1,055 units, subject to regulatory approvals.On affordability, we may see some price upside for well-located and potentially in-demand projects in 2026, taking into account that land prices have inched up of late, with some OCR plots fetching more than $1,300 psf ppr in terms of land rate. Having said that, developers are cognizant that most buyers are price sensitive and we expect them to adopt pricing strategies aimed at keeping the overall quantum palatable to buyers, particularly at the initial stages of the project launch.6. What will be the key demand drivers and factors affecting the HDB resale market in 2026? What is your outlook for the HDB resale market next year in terms of resale volume and pricing?KELVIN: HDB resale price growth has eased, following a series of demand- and supply-side measures from the government in the past years to curb the exuberance in the resale HDB market. Data showed that resale flat prices climbed by 0.4% QOQ in Q3 2025, easing from the 0.9% QOQ increase in the previous quarter. This marks the fourth straight quarter of slower growth in the HDB resale price index. In the first nine months of 2025 (9M 2025), the HDB resale prices have risen by 2.9% - much slower than the 6.9% increase during the same period in 2024.The moderation in price growth is a healthy development for the public housing market, as it points to greater stability and affordability. The more measured price increase will help to promote a more sustainable housing market that is aligned with income growth. For the whole of 2025, we project that HDB resale prices could rise by 3% to 4% - slowing significantly from the 9.7% increase in 2024. Similarly, we are maintaining a price growth projection of about 3% to 4% in 2026.Overall, the broader HDB resale market has witnessed slowing price growth, but there remains a pocket of strength in certain areas, which have pushed up the number of HDB flats resold for at least $1 million. Such sales have hit another new high in Q3 2025, where 480 units of million-dollar resale flats were transacted. Based on sales data retrieved on 4 December, there were 1,484 flats that were resold for at least $1 million - already well exceeding the 1,035 such units resold in the entire 2024 before the year is over.We expect the million-dollar resale flat phenomenon to persist in 2026 owing to the healthy demand for a select group of flats that are deemed to be more desirable or special by buyers, who are then willing to pay a price premium for them.On the whole, the steady supply of new flats and the increase in number of units that will reach their minimum occupation period (MOP) in 2026 could work together to soften the resale price growth in the HDB segment. The stock of HDB flats that will meet their 5-year MOP is expected to climb to 13,500 units in 2026 from 8,000 units in 2025 - bumping up the supply of new flats eligible for resale. Meanwhile, an estimated total of 35,000 new build-to-order flats may potentially be launched in 2026 and 2027. These could offer prospective flat buyers more choices, and may help to temper price growth.The key demand drivers will continue to include new household formations, a growing population, those right-sizing from private homes, and upgraders within the public housing segments, to name a few. In 2026, we forecast that some 26,000 to 27,000 HDB flats may be resold.7. In your view, what are the biggest risks to the Singapore housing market in 2026?KELVIN: Some downside risks to watch for may include macroeconomic uncertainties, slowing global growth, geopolitical and trade tensions, and concerns around an AI-bubble which may put potential stress on the tech-related sectors. Uncertainty seems to be the new normal and like always, we encourage homebuyers to do proper due diligence and financial health checks before committing to a property purchase.While we remain vigilant about policy risks, including the prospect of further cooling measures, the modest price gains in recent years may temper these concerns. In addition, it appears that home prices are still generally aligned with economic fundamentals. The Singapore economy is projected to growth by around 4% in 2025.8. What is your advice for first-time homebuyers, upgraders and property investors in the new year?KELVIN: I will briefly summarise three main considerations for each group, but of course the process in making a home buying decision is complex, and buyers ought to work with an experienced and trusted real estate salesperson.For first-time homebuyers, it is especially important to 1) know your budget and eligibility; 2) think long-term; and 3) understanding your housing needs.For upgraders, it will involve 1) unlocking capital and assessing the gains from the sale of the current property; 2) planning your finances well as upgrading to a bigger/more expensive home could place a heavier financial burden on the household; and 3) as far as possible align the sale of their existing property with purchase of the new one to minimise bridging gaps or financial strain.For property investors, the key things to note will centre around 1) thorough evaluation of property's location and rentability; 2) consider yields and potential capital growth; and 3) ensure you have sufficient financial holding power to ride out market down-cycles.9. Do you expect foreign demand to rebound, remain muted, or decline further in 2026? Why?ISMAIL: The punitive additional buyer's stamp duty (ABSD) rate of 60% on foreigners will continue to keep foreign investment demand in check, and we anticipate that the Singaporeans and Singapore PRs will remain the main driver of home sales going forward. Based on URA Realis caveat data, foreigners (non-PR) accounted for just 1.5% of the new non-landed private homes sold in 2025 (till 23 November) - fairly on-par with the 1.4% proportion in 2024. Since the tightening of the ABSD measure from April 2023, foreign demand for homes has been muted, and could remain so in 2026.Certain foreign buyers may still be willing to purchase homes here, in view of ABSD remission under various Free Trade Agreements (FTAs). Nationals and permanent residents of Iceland, Liechtenstein, Norway or Switzerland, as well as nationals of the US are accorded the same stamp duty treatment as Singaporeans.On the whole, the silver lining is that with less competition from foreign buyers, the local market - Singaporeans and Singapore PRs - may have more buying opportunities, and developers are also likely to price prime units at a level that is accessible to locals.10. There is a lot of talk around A.I., how will PropTech and data analytics reshape marketing, sales cycles, buyer engagement, or even training for salespersons?KELVIN: There is no question that technology, such as A.I. and proptech can help to reshape how agencies sell, manage leads, and even train salespersons. Earlier this year, PropNex was honoured at the SBR Technology Excellence Awards 2025 for our advancements in real estate technology - equipping our sales people with innovative digital tools. We are raising the bar and setting new standards in tapping technology for market analysis, client engagement, and to drive greater sales efficiency.We have a team of more than 40 full-time app developers, who are constantly working to refine and enhance our arsenal of digital tools, such as our proprietary Investment Suite, and Business Suite. Training sessions are held regularly to ensure our salespeople are kept up-to-date on the latest tech features and how to use them effectively.Investing in technology helps to empower our salespersons, and smarter digital tools will free them to focus on what matters most: serving clients with greater clarity, speed and confidence, as well as delivering an optimal outcome for the clients. It is about making the various touch-points smarter, more seamless and value-adding to salespersons and their clients. I'll like to perhaps think of it this way - technology helps to elevate the salespersons, enabling them to build relationships with clients and perform at their highest level.

The Early-2026 Launch Rush: What Homebuyers Should Know Now

TL;DR Early 2026 is shaping up to be one of the most important launch windows for young Singaporean buyers. Five major projects are entering the market, offering diverse options across budgets, locations, and lifestyles. What's coming: Newport Residences, Narra Residences, River Modern, Sophia Meadows, and Vila Natura - each appealing to different buyer profiles from investors to young families. Why now: Stabilising interest rates, developers catching up after past delays, and renewed buyer confidence following the strong October 2025 launch surge. Who's buying: Young professionals, first-timers, and lifestyle-driven couples entering the private market earlier than previous generations, viewing property as both home and long-term asset. What to evaluate: Budgets, TDSR limits, location priorities, rental potential, and project-specific strengths - plus avoiding overstretching while not underestimating affordability. Standout pick: Newport Residences, positioned at the centre of the CBD's transformation and the Greater Southern Waterfront, with rare architectural design and strong future upside. Bottom line: Early 2026 presents a unique opening for young buyers - with choice, competition, and opportunity aligning. Preparation is key, and data-backed guidance will help you act with clarity and confidence. If you're a young Singaporean thinking about upgrading or buying your first home, early 2026 is shaping up to be a crucial period to watch. The property market has been picking up pace since the big October 2025 launch surge, when a sudden cluster of new projects pushed sales to one of their strongest levels in recent years. That wave revealed something important: buyers were becoming more confident, more decisive, and more willing to commit when a project matched their needs. What you'll find in this article: The Launch Line-Up: What's Coming? Why So Many Launches Now? Who's Buying & Why It Matters A Quick Guide to the Five Projects Buyer Checklist: Your Move-In Game Plan My Take: The Launch to Watch Conclusion: Should You Jump In? That renewed confidence has carried forward - and now, from January to March 2026, we're seeing another wave of new launches coming your way. Five major projects are entering the market: Newport Residences, Narra Residences, River Modern, Sophia Meadows, and Vila Natura. Whether you're upgrading or stepping into the private market for the first time, this line-up offers a rare chance to compare options, understand different price points, and start planning your next move.The Launch Line-Up: What's Coming? Here's a friendly overview of what to expect - no jargon, just the essentials:Newport Residences: A premium central-area project with strong rental and prestige appealNarra Residences: Built for young, lifestyle-driven buyers who value convenienceRiver Modern: A modern development with strong accessibility and nature elementsSophia Meadows: A boutique project in a popular district for those who want privacyVila Natura: A serene, low-density private stratalanded development designed for families who love nature-rich livingWhy So Many Launches Now? Several shifts in the market have lined up to create this early-2026 wave of launches.1. Interest rates have stabilised: After two years of uncertainty, borrowing costs have become far more predictable. Even if rates aren't at their lowest, buyers can now plan their finances with greater clarity, making major decisions feel less risky.2. Developers are catching up after earlier delays: Launch pipelines slowed down in 2023-2024 due to construction lead times, land scarcity, and cautious market sentiment. As confidence returned in late 2025, projects that were previously staggered are now ready for release - all within a similar window.3. The October 2025 surge proved buyer confidence is back: The strong performance during the October launch wave sent a clear message to developers: when the right product meets the right pricing, demand from young buyers, upgraders, and families is still strong.4. Competitive timing among developers: It's also natural for several projects to be timed around the same period, especially when market activity is strong. Launches often cluster as developers respond to buyer interest patterns and broader momentum in the property landscape.For young buyers, this means more choices, more competitive pricing strategies, and more opportunities to find a home that aligns with both your lifestyle needs and long-term financial plans.Who's Buying & Why It Matters Young Singaporeans have become a major driver of demand - and recent findings highlight just how quickly their presence in the private property market is growing.According to a 2024 report by TODAY, buyers aged 35 and below now make up an increasing share of new private home purchases, with many entering the market earlier than previous generations - indicating a change in perspective towards homeownership.What's driving this shift?Greater income growth and financial stability among young professionalsA desire for lifestyle flexibility, especially among those who value living near transport, amenities, and workplacesRising awareness of long-term wealth building, with younger buyers viewing property as both a home and an asset that can support future upgradingMore young couples choosing to skip HDB and purchase private directly, especially in well-located or lifestyle-driven upgradingA growing preference for property as the top investment choice - with a recent survey conducted by Business TImes showing that more than 3 in 5 Singaporeans prefer investing in property over stocks and bonds, and younger buyers (25-35) being especially drawn to real estate because of its perceived stability and long-term appreciation potential.With such diverse motivations, each project in the early-2026 wave will naturally appeal to different buyer groups - and understanding each category you fall into helps you narrow down the right launch for your goals.A Quick Guide to the Five Projects Newport Residences Unit TypesEst. Area (sqft)No. of Units1BR431-495861BR+Study581222BR646-753242BR Premium689-710302BR Premium + Ensuite Study818-926333BR98073BR Premium1,206153BR + Study1,227104BR Premium2,06718Super Penthouse(Has dedicated liftand private parking lot)12,9601 246 Location: 80 Anson Road, District 2 - right within the Tanjon Pagar / Greater Southern Waterfront transformation belt.Layouts to expect: Likely 1- to 4-bedroom units, with premium stacks offering unblocked CBD or sea-facing views.What's likely most popular: The 2-bedroom units, as they offer the strongest balance between affordability, rental demand from CBD professionals, and long-term appreciation.Why it matters: Integrated with Newport Plaza and steps from Tanjong Pagar MRT and Prince Edward Road MRT, its freehold status and architectural design make it extremely future-proof as the CBD evolves under URA's rejuvenation plans.Narra Residences Unit TypesEst. Area (sqft)No. of Units1BR+Study51732BR581302BR Premium646582BR + Home Shelter689-700662BR + Home Shelter & Study721242BR + Study721873BR818283BR Flexi872313BR Premium990-10231013BR Premium + Study1152-1173254BR1152354BR Premium1378265BR + Private Lift1658-167926 540 Location: Dairy Farm Walk, District 23 - near Hillview MRT, Dairy Farm Nature Park and major highways.Layouts to expect: Family-friendly 2- to 4-bedroom units with efficient layouts suited for upgraders.What's likely most popular: The 3-bedroom units, as they appeal strongly to young families seeking practicality, proximity to nature, and entry into a growing private enclave.Why it matters: With around 540 units and resort-style facilities, this project sits in one of Singapore's most underrated growth corridors, making it attractive for those priced out of central regions but want strong upside.River Modern* Unit plans have not yet been released at time of writingLocation: River Valley Green, District 9 - beside Great World MRT and Great World City.Layouts to expect: A mix of compact 2-bedroom layouts, premium 3-bedroom configurations, and larger 4-bedroom units.What's likely most popular: The 2-bedroom units, highly sought after by young couples and investors due to walkability, proximity to Robertson Quay, and enduring rental demand in District 9.Why it matters: Its centrality, luxury positioning, and developer pedigree make the 455-unit project one of the strongest city-fringe contenders of 2026.Sophia Meadows* Unit plans have not yet been released at time of writingLocation: 12-16 Sophia Road, District 9 - on elevated Sophia Hill near Dhoby Ghaut MRT.Layouts to expect: Boutique-scale, larger layouts, likely 2- to 4-bedroom units with premium low-density configurations.What's likely most popular: The 2-bedroom units, as freehold boutique projects in District 9 are rare, and smaller units tend to move fastest due to limited supply.Why it matters: Only 41 freehold units - ideal for buyers seeking privacy, exclusivity, and fast access to Orchard, Bugis, and the Bras Basah arts district.Vila Natura* Unit plans have not yet been released at time of writingLocation: District 26, near Lentor Modern and the Lentor transformation cluster.Layouts to expect: Landed homes (likely terrace or semi-detached units with multi-storey layouts, private lift options, and generous floorplans.What's likely most popular: The terrace homes, which offer an entry point into landed living at a more attainable quantum than semi-detached units.Why it matters: A freehold stratalanded development offering only 11 modern homes in an increasingly vibrant Lentor neighbourhood, surrounded by greenery - ideal for families who want long-term space, serenity, and exclusivityBuyer Checklist: Your Move-In Game Plan Before diving into the numbers, it helps to first introduce what the PWS (Property Wealth System) is about. PWS is a structured framework designed to help buyers build long-term property wealth safely - not through speculation, but through clear planning, financial prudence, and strategic progression. At its core, PWS teaches you how to assess where you are today, what you can afford, and how to make decisions that support future upgrading.A key concept in the PWS framework is determining your safe entry price - the price point at which a property remains affordable, sustainable, and strategically sound for your long-term progression. In simple terms, it answers the question: Can I buy this home without over-stretching, and will it still give me options in the future?A quick way to gauge your safe entry price is to look at:the maximum loan you can comfortably service without stretching your monthly cashflow,the buffer you retain after downpayment and BSD,and whether the projected exit price (based on past transactions and future transformation plans) supports a healthy, low-risk holding period.Before walking into a showflat, here's what every young buyer should sort out:Know your numbers: TDSR, downpayment, mortgage limits.List your priorities: Commute, schools, amenities, rental potential.Check affordability with rising resale prices: Don't overstretch, but also don't underestimate what you can comfortably afford with proper planning.Prepare key documents early: Fast decisions matter during launches.A little planning now goes a long way in helping you avoid rushed, emotional decisions - and that's why it's highly recommended to engage our agents, who are equipped with award-winning tech tools and advanced affordability calculators to help you understand your true potential and make well-informed decisions.My Take: The Launch to Watch If there's one project that I think is likely to stand out, it's Newport Residences. Beyond its central location and strong investment appeal, its intricate architectural design is something you hardly see in Singapore - a bold, modern reinterpretation of urban living. In addition, with URA's CBD Incentive Scheme encouraging the transformation of older office buildings into vibrant mixed-use developments, the entire CBD landscape is on the brink of a major rejuvenation. Paired with the upcoming Greater Southern Waterfront, this precinct is steadily evolving into a dynamic hub for work, living, and recreation - positioning Newport Residences at the heart of a future city-centre renaissance.But of course, each project has its own strengths:River Modern blends greenery with convenience - great for young families.Narra Residences is lifestyle-driven and relatable for younger buyers.Sophia Meadows appeals to those who want privacy and a boutique feel.Vila Natura offers incredible space and tranquility for family-focused buyers.No wrong choices here - just different goals.Conclusion: Should You Jump In? Early 2026 is a rare chance for young Singaporeans to explore a variety of new private homes arriving in a tight window. The momentum from late 2025 shows that the market is warming up, and with more launches on the way, this period could offer strong entry points for first-timers and upgraders. If you'd like to build a clearer, more grounded understanding of how today's launch momentum fits into the broader market cycle, you may find our upcoming Consumer Empowerment Seminar (CES): "After a Strong 2025 - Where Is the Property Market Header Next?" helpful. This FREE session offers a space to learn, ask questions, and better understand where prices, supply, and buyer opportunities could be heading - so you can view the 2026 launch wave with clarity and confidence, rather than pressure.Coming Up Next: Part 2 - The Next Wave of 2026 Launches Part 1 covers the January-March batch, but Part 2 will break down the next wave of launches arriving in the second quarter of 2026.Expect:New family-friendly and investor-friendly launchesFresh project breakdowns in different price bracketsWhat rising supply could mean for affordabilityHow young buyers can strategise for mid-year or late-year launchesPart 2 will help you see the second quarter of 2026 roadmap - so you can plan smarter and move with clarity.Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.

5 Most Expensive HDB Estates (Based on Average Resale PSF)

TL;DR Some HDB towns now have resale prices and psf that rival private condos. While 2025's price growth has slowed, the most sought-after estates continue to climb. Central Area: The priciest HDB zone with scarce supply. Many units exceed $1.5M. Queenstown: Heritage + wellness district transformation = strong, sustained demand. Bukit Merah: City-fringe favourite boosted by the incoming Greater Southern Waterfront. Bukit Timah: Tiny HDB supply, huge demand. Million-dollar flats are the norm. Toa Payoh: Centrality and nostalgia fuel strong growth, especially for smaller units. If you've scrolled through property listings lately and felt personally attacked by HDB resale prices, you're not alone. According to CNA, resale flat prices climbed 9.6% in 2024, almost doubling the 4.9% increase from the previous year. And even though price growth has slowed considerably in 2025, rising just 2.9% in the first three quarters, that doesn't mean things suddenly got affordable. What we're seeing is a market that's stabilising on the surface, while certain towns continue to break records.Because the price growth may not be equal across all towns, some estates have pulled ahead, with resale flats now commanding premiums that can rival private homes. So here's a look at which estates sit at the top and what's driving their rise. In this article, we will explore: Central Area Queenstown Bukit Merah Bukit Timah Toa PayohCentral AreaSource: hdb.gov.sgAverage resale price (Nov 2024 - Oct 2025): $862,779Average psf (Nov 2024 - Oct 2025): $956The Central Area, or better known as the Central Business District (CBD), is where Singapore's heartbeat lies. Home to districts like Marina South, Orchard, Outram, and River Valley, it's one of the country's most dynamic and densely built-up regions.While high-rise offices and luxury condos dominate the skyline, a small pocket of HDB housing exists quietly among them. Most of these flats are in Rochor and Outram, including mixed residential and commercial developments that give residents the rare privilege of living right in the city centre.As of March 2025, HDB managed just 8,880 flats here, housing around 24,990 residents. This makes the central area one of the smallest yet most exclusive public housing zones in Singapore. Take the Pinnacle@Duxton as an example. It's arguably one of the most iconic HDB projects out there. The 50-storey development not only redefined what public housing could look like, but also set a new standard for city living with its sweeping sky bridges and panoramic skyline views.So it's no surprise that Central Area flats have become a class of their own. In fact, 64 out of 175 resale transactions in the past year crossed the million-dollar mark, with many even pushing past $1.5 million.On top of that, HDB resale prices in the Central Area have grown across all flat types since 2020. 4-room flats are in the lead, more than doubling in value with a 116% jump. 5- and 3-room flats are neck and neck, with a 64% and 62% growth respectively. Whereas 2-room units gained around 38%.Source: PropNex Investment SuiteThe consistent upward trajectory reflects how scarcity and prestige fuel demand here, especially considering there are only a handful of HDB projects within the Central Area. And yet they sit alongside luxury condos and major business districts.QueenstownSource: hdb.gov.sgAverage resale price (Nov 2024 - Oct 2025): $759,985Average psf (Nov 2024 - Oct 2025): $853Named after Queen Elizabeth II's coronation in 1952, Queenstown was Singapore's very first satellite town. It was first planned by the Singapore Improvement Trust (SIT) in the 1950s before HDB took over in the 1960s. As of March 2025, it is home to around 77,340 HDB residents across 30,511 flats.Queenstown may be the oldest HDB town out there, but it is by no means outdated. In fact, it was one of the earliest estates designed to be self-sufficient, with its very own town centre and sports complex. But it didn't stop there.Right now, Queenstown is also pioneering a vision for wellness-living. With its very own Health District, the town is being redeveloped with amenities that support physical, social, and mental well-being, especially for seniors. And if this Health District pilot is successful, its wellness and care innovations can be scaled to other towns in the future.This development could potentially increase demand over time, especially from families with children, seniors, and other health-centric individuals. And since Queenstown also has good connectivity and proximity to the city centre, it's no wonder the town made it high up on the list. It even holds the record for highest resale HDB price at $1.66 million!Not just that, 155 more homes crossed the million-dollar mark, out of 601 resale transactions in the past year. Prices here have also climbed steadily since 2020. Executive flats lead the growth at 59%, thanks to its exclusivity. Following that are 4-room units at 49% and 5-room at 47%. 3-room flats saw a strong 38% rise, while 2-room units grew about 20%.Source: PropNex Investment SuiteThis just goes to show that Queenstown remains one of the most resilient and in-demand mature estates.Bukit MerahSource: hdb.gov.sgAverage resale price (Nov 2024 - Oct 2025): $758,600Average psf (Nov 2024 - Oct 2025): $814The name "Bukit Merah," or "Red Hill" in Malay, came after red soil was uncovered during early excavations near Henderson and Lengkok Bahru. What was once a pepper and gambier plantation is now one of the most sought-after mature estates.Sitting just outside the CBD, it covers five key areas: Tiong Bahru, Telok Blangah, Redhill, Mount Faber, and Tanjong Pagar. Each brings its own unique charm, from Tiong Bahru's pre-war flats to Tanjong Pagar's shophouses.As of March 2025, Bukit Merah was home to about 124,950 HDB residents across 44,952 flats, making it one of the larger and more established estates in Singapore. And although the area has changed a lot over the years (just look at the caf culture and the weekend crowds!), it's never lost character and charm.Plus, with the upcoming Greater Southern Waterfront set to transform the southern coastline into a new residential and commercial hub, Bukit Merah's appeal is only getting stronger.You can see that reflected clearly in the numbers. Out of 947 resale transactions in the past year alone, a whopping 208 were million-dollar flats. It's no wonder Bukit Merah keeps making headlines for record-breaking sales (at least before Queenstown broke it earlier this year).Since 2020, HDB resale prices here have climbed steadily across all flat types. 4- and 5-room flats are leading with 38% and 36% increase. However, 2- and 3-room units aren't far behind with a 23% and 21% growth.Source: PropNex Investment SuiteThough the numbers aren't as dramatic as Central Area's and Queenstown's, it's worth remembering that Bukit Merah isn't nearly as scarce. Even so, demand here runs deep across all segments, which is a sign of how the estate continues to draw buyers who want city-fringe convenience without paying full-on city prices.Bukit TimahSource: hdb.gov.sgAverage resale price (Nov 2024 - Oct 2025): $932,870Average psf (Nov 2024 - Oct 2025): $793Bukit Timah is Singapore's tallest natural peak. There are different stories as to how it got its name. Some thought that Bukit Timah is Malay for 'tin-bearing hill'. Others believed Bukit Timah was a misinterpretation of 'Bukit Temak', which means 'hill of the temak trees'.Only around 7,020 residents live here across 2,554 flats (as of 31 March 2025). That makes it one of the smallest public housing zones in Singapore, and the numbers reflect that scarcity today. Only 48 resale transactions took place in the past year, yet 18 of them crossed the million-dollar mark! A wild proportion for such a small town.Price movements here show a clear upward trend. Since 2020, executive and 5-room flats have seen the strongest gains at around 42% and 37% respectively. 4-room units grew by 24% and 3-room units grew the slowest at just 12%. If not for the brief price dip earlier this year, 3- and 4-room units would've shown much more significant growths, and Bukit Timah would likely have ranked even higher on the list.Source: PropNex Investment SuiteThere were no 2-room resale transactions at all, which isn't surprising given how few exist in the first place. Buyers here tend to prioritise space and privacy, so the larger flat types naturally attract more interest. Besides, HDB living isn't the first thing people associate with Bukit Timah since this town is synonymous with luxury homes, prestigious schools, and nature reserves.Regardless, this small estate is a very coveted one, which is why despite its tiny pool of resale transactions, it still managed to land in the top five most expensive towns this year.Toa PayohSource: hdb.gov.sgAverage resale price (Nov 2024 - Oct 2025): $751,711Average psf (Nov 2024 - Oct 2025): $788Toa Payoh is another one of HDB's earliest towns, right after Queenstown actually. In Hokkien, Toa Payoh directly translates as 'big swamp', because the town used to be a large swampy area. As of March 2025, Toa Payoh is home to over 113,970 residents across 42,857 flats.Fun fact: Toa Payoh is home to one of the very first MRT stations to open. So, centrality has always been one of its biggest draws. Located just minutes from Orchard Road and the CBD, this mature estate sits right in the middle of Singapore, offering residents the kind of everyday convenience that newer estates can't quite replicate.Heritage is a huge part of its appeal too. From the iconic dragon playground to the old Town Garden (now Toa Payoh Town Park), these familiar landmarks give the neighbourhood a sense of warmth.Source: Roots.gov.sgDue to its location, connectivity, and character, Toa Payoh remains one of the most coveted and competitive towns. Out of 1,017 resale transactions in the past year, 300 crossed the million-dollar mark. That's almost one in three.And like the other towns, resale prices have surged across all flat types. What's interesting, though, is that the smaller units actually saw the biggest jumps, with 2-room flats at 79% and 3-room at 78%. Following that are 4-rooms at 65%, 5-rooms at 54%, and executive flats at 47%.Source: PropNex Investment SuiteIt's a pretty interesting contrast against Queenstown, where executive flats saw the strongest growth. This could be because Queenstown has far fewer large units to begin with, so whenever one appears on the market, demand naturally spikes.In Toa Payoh, though, the momentum seems to be coming from the smaller flats. This could be due to a mix of shifting demographics and evolving buyer behaviour. Perhaps more seniors are choosing to right-size here. Or maybe younger buyers are getting smaller homes to be in a more central location.Regardless, it's a clear sign that there is strong demand here, and that the market stays resilient throughout the years. You might be interested: Million-Dollar HDBS, Private Property Bubble? PropNex's Ismail Gafoor Shares His Take, $1 Million Resale HDB vs. $1 Million Condo, What Makes A District A Million-Dollar Magnet?Views expressed in this article belong to the writer(s) and do not reflect PropNex's position. No part of this content may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means without the prior written consent of PropNex.For permission to use, reproduce, or distribute any content, please contact the Corporate Communications department. PropNex reserves the right to modify or update this disclaimer at any time without prior notice.