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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 2-26's new launch pipeline, giving buyers a fuller picture of pricing, product positioning, and location tiers.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 Tamasek 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 Tampinese 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 on-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.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 a potentially more favourable entry point for 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.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.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.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 lift and 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 want the best shot at making a confident and financially sound choice, stay prepared: understand your budget, compare projects properly, and avoid FOMO decisions. I also highly encourage you to understand our Consumer Empowerment Seminars (CES), where you can gain clearer insights, ask burning questions, and build the confidence needed to navigate today's evolving property landscape.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.

Recovery In HDB Resale Volume And Average Resale Price In November 2025

The HDB resale market activity picked up slightly in November 2025, following a substantial slowdown in transactions in the previous month. Notably, the HDB resale volumes in October and November are the slowest monthly tallies since April and May 2020, where the COVID-19 pandemic restrictions had hampered sales.In November, there were 1,671 flats resold - up by 24.6% month-on-month (MOM) from 1,341 units transacted in October (see Chart 1). When compared with November 2024, sales were down by 13.4%. Meanwhile, the average resale price inched up by 0.2% MOM in November to $648,699 from $647,324 in October - helped by the recovery in transaction numbers. The most popular towns in November were Tampines, Yishun, and Woodlands.Chart 1: HDB resale volume and average resale priceSource: PropNex Research, data.gov.sg (retrieved on 3 December 2025) Several factors likely weighed on sales, including the ample supply of 9,144 new build-to-order (BTO) flats launched by the HDB in October. In total, there were 29,975 new flats introduced in 2025, comprising 19,723 BTO flats and 10,252 flats offered under the Sale of Balance Flats (SBF) exercises.These new flats, including projects with shorter waiting times of three years or less could have enticed some prospective buyers to apply for them instead of purchasing a resale flat. In addition, the seasonal lull during the year-end, due to the school holidays and festive period could also have tamped down sales activity.The HDB has said that 20,913 resale flats were transacted in the first nine months of the year. Taking in the 3,012 units resold in October and November, an estimated 23,925 resale flats have been sold in the January to November period. In all likelihood, the overall HDB resale volume for 2025 could underperform the 28,986 units resold in the whole of 2024.Transaction data showed that the proportion of flats resold that were priced at below $500,000 in November was 24.5% - a touch higher than 23.8% in the previous month. About 42.7% of the resale flats sold fetched between $500,000 and under $700,000, relatively in line with the 42.4% in October. Meanwhile, 25.6% of the transactions were priced at $700,000 to just under $1 million in November - down from 27.4% in the previous month. Of note, the proportion of flats resold for at least $1 million rose to 7.2% in November from 6.5% in October (see Chart 2).Chart 2: HDB resale flat transactions by price rangeSource: PropNex Research, data.gov.sg (retrieved on 3 December 2025) By flat type and town classification, the 4-room flats resold in mature towns posted the sharpest month-on-month price growth of 2.6% to about $787,000 in November (see Table 1). This is followed by executive flats which booked a 1.5% MOM price increase to around $1.05 million. Over in non-mature estates, executive flats witnessed the strongest price growth at 2.5% QOQ to about $896,000.Table 1: Average HDB resale flat prices by flat type, by town classification Mature townsNon-mature towns Oct-25Nov-25% change MOMOct-25Nov-25% change MOM3 ROOM$476,228$472,266-0.8%$457,933$458,8080.2%4 ROOM$766,877$787,0892.6%$600,096$602,8280.5%5 ROOM$937,932$942,1510.4%$717,312$714,801-0.4%EXECUTIVE$1,029,821$1,045,1631.5%$873,461$895,6652.5%Source: PropNex Research, data.gov.sg (retrieved on 3 December 2025) After the sharp fall in the number of million-dollar resale flats from September to October, such sales found renewed strength in November. There were 120 flats resold for at least $1 million in November - up by nearly 38% from the 87 units that changed hands in October (see Chart 3). The 120 units of million-dollar resale flats in November comprised a 3-room terrace flat, 50 units of four-room flats, 45 units of five-room flats, and 24 executive flats.Among the million-dollar resale flat deals in the month, 13 units are located in non-mature towns - six in Hougang, two each in Sengkang and Yishun, and one each in Bukit Batok, Jurong East, and Woodlands. The rest of the units are in mature towns, led by Bukit Merah with 20 deals, followed by Toa Payoh and Queenstown with 17 and 16 such sales, respectively.In the first 11 months of 2025, there were 1,450 units of million-dollar resale flats sold - up by 40% from the 1,035 units transacted in the entire 2024.Chart 3: Number of HDB flats resold for at least $1 million by monthSource: PropNex Research, data.gov.sg (retrieved on 3 December 2025) During the month, the priciest HDB resale flat transacted was a 5-room unit at Natura Loft in Bishan which fetched $1.63 million (see Table 2). The DBSS (design, build and sell scheme) unit which spans 120 sqm is located on a floor ranging between the 34th and 36th storey. It has a lease balance of 84 years and 10 months at the point of resale. Separately, an executive flat in Bishan St. 12 was resold for $1.6 million in November; the maisonette unit is sizable at 163 sqm, and is located on a high floor. These two deals are the most expensive resale flats transacted in Bishan towns to-date.Table 2: Top 10 HDB resale flats sold in November 2025 by Transacted PriceTownTypeStreetStorey rangeFloor area(SQ M)Lease start dateResale pricePSF ($)BISHAN5 ROOMBISHAN ST 2434 TO 361202011$1,632,000$1,263BISHANEXECUTIVEBISHAN ST 1222 TO 241631987$1,600,000$912CENTRAL AREA5 ROOMCANTONMENT RD16 TO 181072011$1,490,000$1,294CLEMENTI5 ROOMCLEMENTI AVE 337 TO 391132021$1,488,889$1,224BUKIT MERAH5 ROOMHENDERSON RD22 TO 241132019$1,465,888$1,205BISHANEXECUTIVEBISHAN ST 2316 TO 181561992$1,460,000$869TOA PAYOH5 ROOMBIDADARI PK DR16 TO 181142020$1,450,000$1,182CLEMENTI5 ROOMCLEMENTI AVE 307 TO 091132021$1,448,000$1,190QUEENSTOWN5 ROOMDAWSON RD16 TO 181072020$1,430,000$1,242BUKIT MERAH5 ROOMHENDERSON RD10 TO 121132019$1,410,000$1,159Source: PropNex Research, data.gov.sg (retrieved on 3 December 2025) Bishan is one of the public housing estates that are popular among buyers, owing to a clutch of sought-after schools in the vicinity, including Raffles Institution, Raffles Girls' School (Secondary), Ai Tong School, Catholic High School, and Kuo Chuan Presbyterian Primary School. In addition, recent plans announced by the government to transform the Bishan town centre into a business and lifestyle hub under the Master Plan 2025 could also have further boosted the estate's appeal.In view of year-end holiday and festive distractions, PropNex expects HDB resale activity in December to be relatively muted. Looking at 2026, the HDB resale segment could see further stabilisation with modest price growth, as the ample supply of new flats and existing policy guardrails keep the market in check.Contact a PropNex salesperson to find out more about resale HDB market trends.

More Homes Coming To The East In Tanah Merah

"East side best side"- you may have heard this phrase thrown around internet forums and even used in community urban planning initiatives. This love for the East is not unfounded, with many Easties touting the wealth of amenities in nearby commercial hubs in Tampines, Bedok, and even Changi. Easties rejoice, for a new condominium project is coming to the Tanah Merah area. The tender for the site at Bedok Rise - which can yield an estimated 380 units - closed on 27 November 2025, garnering a whopping 10 bids. The top bid of $464 million from Bellis Residential translates to a land rate of $1,330 psf ppr (psf per plot ratio). Keen interest for the site was not unexpected, given that it is the last government land sale (GLS) plot in the exclusive locale flanked by condominiums and landed properties. Besides being located in a private enclave, the site also boasts many attributes that homebuyers are looking for when seeking out a new home. Connectivity Perhaps the biggest draw of the plot is its location virtually at the doorstep of Tanah Merah MRT station on the East-West Line (EWL), making travelling a breeze. On the EWL, future residents can easily access other major regional hubs in Tampines and Paya Lebar.The Tanah Merah MRT station is also slated to be connect to the Thomson-East Coast Line (TEL) by 2040, further improving the connectivity in that neighbourhood. The TEL extension in turn links Tanah Merah station to Expo, Changi Airport, Changi Terminal 5, and to the rest of TEL from Sungei Bedok. Of note, the station in Changi Terminal 5 will be an interchange station with the future Cross Island Line, further boosting the accessibility of the site.Source: Land Transport Authority Amenities with more to comeFor amenities within walking distance of the development, residents can head to Sceneca Square, a retail mall with a supermarket, as well as shopping and dining options. Other neighbourhood hubs in Bedok, Simei, Tampines, Pasir Ris, and Paya Lebar are also minutes' away via the MRT, opening up a wide range of commercial and recreational options, such as Bedok Mall, Eastpoint Mall, Tampines Mall, Our Tampines Hub, Century Square, Tampines 1, Downtown East, White Sands, and Paya Lebar Quarter. Furthermore, Expo is only one stop away from the site and is home to the Changi City Point shopping mall, Singapore EXPO convention centre, and Changi Business Park. An additional perk of living in the East is the site's close proximity to Changi, a vibrant aviation hub with a wide selection of retail offerings and eateries. With the Changi East development and a fifth terminal coming onboard in mid-2030, the area is sure to become even more bustling in the near future. Working professionals in the IT and aviation industry in Changi may take interest in the upcoming project, as it ensures shorter commuting time to the workplace. More changes are soon to take shape with the redevelopment of the Paya Lebar Airbase from 2030s onwards. Besides injecting more residential developments, the plot is expected to be transformed into a self-sustainable new town with community areas, green spaces and commercial hubs for live, work and play. With the Paya Lebar MRT station just four stops away from the Tanah Merah project, the variety of options for future residents will be even greater once the redevelopment is completed. Source: Urban Redevelopment AuthoritySchoolsThe site has several primary schools within its vicinity, including Bedok Green Primary School, St. Anthony's Canossian Primary School, and Temasek Primary School. Other educational institutes like Bedok View Secondary School, Bedok South Secondary School, Anglican High School, ITE College East, and the Singapore University of Technology and Design are also a short walk or bus ride away. DeveloperBellis Residential is a subsidiary of Allgreen Properties, a prominent real estate developer in Singapore renowned for its extensive portfolio of high-quality residential projects ranging from high-end luxury to mass-market developments. Established in 1986 and a subsidiary of the prestigious Kuok Group, Allgreen Properties has earned a reputation for delivering exceptional developments that enhance urban living. Notable projects include Promenade Peak, Pasir Ris 8, Royal Green, Fourth Avenue Residences, Juniper Hills and Riversails.

What's Next For 38 Oxley Rd, SG's Most Debated Address?

TL;DR 38 Oxley Road is more than a house - it's a national mirror. The decision ahead weighs legacy, progress, privacy, and principle. The monument question: Preservation could educate and anchor identity, but may conflict with Mr Lee's wishes and burden the neighbourhood. If not preserved: Options range from a quiet public park to a curated heritage gallery - or full private redevelopment with modern renewal. Heritage vs progress: Competing values - honouring history, respecting personal intent, and keeping Singapore future-focused. Neighbourhood impact: Any path reshapes Oxley's character - from discreet enclave to precinct with greater footfall, density, or green space. Bottom line: Whatever is chosen will signal Singapore's planning priorities - not just what we keep, but what we choose to become. What should a nation do when its most symbolic address becomes its most complex policy question? 38 Oxley Road isn't just a house - it's a reference point that forces Singapore to confront what we truly value: legacy, progress, privacy, or principle.It was the residence of the late Mr Lee Kuan Yew, a place where decisions that shaped modern Singapore were crafted far from public view. Today, the debate over its fate plays out in the court of public opinion. Should the house stand as a national reminder of where we came from? Or should Singapore honour Mr Lee's personal wish for demolition - a request rooted in his lifelong belief that we must never cling blindly to the past?The issue remains sensitive, multi-layered, and far from straightforward. Because whatever happens next will define not just the site, but the planning priorities Singapore intends to uphold. In this article, we will explore: The Monument Question: Should it Become a National Landmark What If It's Redeveloped? Possible Future for 38 Oxley Road Heritage vs Progress: Where Should Singapore Draw the Line? Impact on the Surrounding Area Conclusion: More Than a Property - A National MirrorThe Monument Question: Should it Become a National Landmark?The idea of turning 38 Oxley Road into a national monument resurfaces regularly - and for good reason. This isn't just a conservation debate; it raises questions about how Singapore evaluates heritage, personal wishes, and land-use priorities. It also sits within a broader public discussion that has included differing views expressed by members of the founding family, underscoring how sensitive and multi-layered the issue remains.Pros of preserving it as a monument1. Historical and cultural significance: This home was more than a residence; it was an informal command centre during Singapore's most critical decades. Negotiations, drafts of speeches, and key discussion took place within its modest walls. Preserving it would allow future generations to step into the physical space where a large part of Singapore's political consciousness was shaped.2. Educational potential: Beyond being a static monument, the site could serve as a living classroom. Students, historians, and young leaders could immerse themselves in curated narratives about early nationhood, political discipline, and the realities of leadership that shaped modern Singapore.3. Tourism appeal: Cities around the world preserve the homes of founders, revolutionaries, presidents, and thinkers. 38 Oxley could join this global tradition - drawing visitors interested in Singapore's unique development story and boosting heritage tourism.4. Cultural identity anchor: At a time when cities evolve rapidly, physical links to the past help ground national identity. Preserving the Oxley home could offer a rare sense of continuity.To put this in perspective, several countries have chosen to preserve the personal residences of their founding figures as national touchstones. The Churchill War Rooms in London allow visitors to walk through the very space where Britain planned its wartime strategy - illustrating how built heritage can serve educational and historical functions when preserved thoughtfully.Cons of turning it in a monument1. Respecting personal wishes: According to publicly available statements and past communications, Mr Lee expressed clearly - multiple times - that he wished for the house demolished. Going against this risks creating the exact kind of posthumous glorification he wanted Singapore to avoid.2. Practical limitations: The house is old, structurally fragile, and would require extensive stabilisation work. Maintenance, restoration, staffing, and security would demand ongoing financial commitments.3. Neighbourhood impact: Oxley Road is a quiet, exclusive enclave. Increased foot traffic, tour buses, and heightened security may compromise the privacy of residents and alter the neighbourhood's character.4. Risk of over-commercialisation: Turning the residence into a public attraction may inadvertently reduce the dignity and simplicity that Mr Lee embodied. There is a thin line between commemoration and public display - and crossing it could cheapen the site's meaning.5. Potential distortion of narrative: A monument may unintentionally elevate an individual above the collective founding team, which contradicts Singapore's ethos of shared nation-building.Before moving on, one thing is clear: whether preserved or not, treating 38 Oxley Road as a monument demands a level of national self-reflection few sites ever require. This debate has also surfaced within the founding family itself. In public statements, Mr Lee Hsien Yang has objected to any move to gazette the house as a national monument, reiterating that such a move would contradict his father's explicit wishes. His stance adds another layer of complexity to an already sensitive issue - highlighting how the question of preservation is not just political or architectural, but deeply personal.And if the country chooses not to enshrine it, the question becomes - what then?What If It's Redeveloped? Possible Future for 38 Oxley Road If authorities were ever to decide not to designate the house as a monument, the question becomes even sharper: should Singapore reshape the land entirely and move forward, or attempt to retain fragments of the past in a new form? Its prime central location and historical importance make the site one of the most consequential pieces of land in modern urban planning - a crossroads where sentiment, strategy, and legacy collide. What happens here will speak volumes about how Singapore chooses to grow.Option 1: A public parkTransforming the site into a public green space may offer a middle ground.ProsHonours legacy without preserving the physical house: A park can provide a serene, reflective environment that aligns with Mr Lee's preference for demolition while still acknowledging the site's importance.Enhances the area's liveability: More greenery in District 9 adds environmental and social value.Subtle remembrance: A minimalist plaque or interpretive feature could share the site's story without overwhelming the space.Community benefit: A carefully designed park could serve as a contemplative space - not a tourist hotspot. After all, if you look at the Google Map above, the community could do with a green space to chill, gather, and relax.ConsPotential crowding: As with monuments, parks attract visitors. The impact on residents must be considered. But if you ask me, I honestly don't think there are many negatives to that.Emotional expectations: Even as a park, it may become an unofficial monument, raising questions about the extent of commemoration.Opportunity cost: The land could otherwise support community or residential use, which we will touch on in option 3.Ambiguity of purpose: A park may neither satisfy those who want preservation nor those who advocate redevelopment - pleasing no one fully.Summary: A park offers balance but risks feeling like a compromise rather than a clear direction.Option 2: A museum or heritage galleryIf the government ultimately opts to retain or reconstruct key elements of the home, a small-scale heritage centre could emerge.Curated access: Rather than a full public attraction, guided or reservation-based visits could preserve the site's dignity.Focused storytelling: Exhibits can highlight leadership value, nation-building milestones, and personal facets of Mr Lee's life.Balanced approach: It offers a compromise between demolition and full monument status.Digital augmentation: Interactive displays and digital archives could tell the story without overwhelming the physical space.Summary: A curated heritage space offers educational value but may contradict stated wishes and require sustained management.Option 3: Private redevelopmentGiven the site's prime location, redevelopment into residential use is another possibility.ProsOptimises land value: Oxley Road sits within one of Singapore's most exclusive districts.Architectural renewal: the site could host thoughtfully designed homes that complement the neighbourhood.Generates revenue: Funds raised through redevelopment could be channeled into heritage initiatives.Urban rejuvenation: Redevelopment allows for new design, sustainability features, and modern infrastructure.ConsPublic sentiment: Redeveloping a site so tied to Singapore's history may spark criticism.Loss of physical heritage: Any redevelopment likely means the original structure will not remain.Traffic and density concerns: New residences may strain the area's road network.Perception risks: Some may view new luxury homes as symbolic erasure of national memory.Summary: Redevelopment aligns with forward planning but requires careful communication to address public expectations.Each potential future - park, museum, or redevelopment - reveals a different philosophy about how Singapore handles legacy. These are ultimately questions of strategic land use and long-term optimisation - much like how families assess inherited properties or ageing assets, weighing emotional attachment against long-term utility and opportunity cost.The next question is even deeper: how then do we balance reverence for the past with the realities of a city that never stop evolving?Heritage vs Progress: Where Should Singapore Draw the Line?The debate surrounding 38 Oxley Road cuts straight to the heart of Singapore's identity crisis: Are we a nation that safeguards every trace of our founding years, or one that believes progress sometimes means letting go? Heritage decisions are never just administrative; they reveal our relationship with history, power, values, and the narratives we choose to elevate.For some, the Oxley home is a notable historical reference of Singapore's early struggles - a private setting for key national discussions that shaped a fledgling nation. Its modest rooms symbolise discipline, resilience, and the functional simplicity that defined a generation of leaders. Preserving it feels, to many, like honouring the spirit of where Singapore began.For others, respecting Mr Lee's explicit wishes represents a deeper loyalty to the principles he championed: pragmatism, forward momentum, and the belief that no individual, not even a founding leader, should be mythologised. In this view, demolishing the house is not an act of erasure, but an act of clarity - a reminder that Singapore's strength lies not in monuments, but in mindset.And then there are those who believe Singapore must resist the instinct to freeze history in place. They argue that the city's progress has always hinged on reinvention, and that overemphasis on preservation may limit opportunities for future-oriented planning. In this reading, freeing the land for new purposes is not a denial of heritage, but an affirmation that Singapore's identity has always been one of adaptation.Each perspective reflects a different version of who we think we are - and who we aspire to become. The tension between sentiment and practicality mirrors the considerations many homeowners face when restructuring their own portfolios: balancing personal significance with long-term resilience, clarity, and sustainable planning. But beyond symbolism, there's a practical dimension too: whatever Singapore decides will directly influence not just national sentiment, but the surrounding neighbourhood, its daily rhythm, and the urban landscape it sits within.Impact on the Surrounding AreaWhatever the final decision is, the neighbourhood won't remain untouched. Oxley has long been an enclave of exclusivity, privacy, and quiet prestige - but the fate of No. 38 has the potential to amplify, disrupt, or redefine that identity completely.If preserved: Expect more eyes, more movement, and a subtle shift from private enclave to historical precinct.If turned into a park: The area gains a peaceful green retreat - but also a steady stream of curious visitors.If redeveloped: Property dynamics shift dramatically, with density, land value, and neighbourhood character evolving in ways residents will feel long-term.These ripple effects extend beyond Oxley itself. Planning decisions at a national level often reshape entire neighbourhood identities - much like how property progression decisions made by individual households can influence long-term appreciation, portfolio strength, and future opportunities. They shape how central districts evolve, how heritage interfaces with urban planning, and how Singaporeans navigate the balance between remembrance and renewal.Conclusion: More Than a Property - A National MirrorThe future of 38 Oxley Road is more than a decision about bricks, timber, or architecture - it's an indicator of Singapore's broader planning philosophy. Do we preserve meaningfully its legacy in physical form, allow it to fade in accordance with Mr Lee's wishes, or transform it into something entirely new that speaks to the Singapore of tomorrow?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.

Does Gen Z Even Want to Own Homes Anymore?

TL;DR Gen Z is taking a different path to tackle the reality of today's prices, priorities, and pace of life. Property prices have risen almost twice as fast as incomes, making affordability the biggest hurdle. Studies, careers, travel, and later marriages naturally delay homeownership. But Singapore Gen Z has a real shot compared to global peers due to affordable public housing, CPF, grants and strong ownership culture. Bottom line: Gen Z isn't giving up, but they need to start planning so they can use their first home as a stepping stone. If you think millennials had it rough, you should see how Gen Z is coping. Just ask any twenty-something-year-old about buying a home and you'll probably get a half-laugh, half-sigh.Between the never-ending BTO wait, soaring resale and new launch prices, and the daunting idea of committing to a 30-year mortgage, owning property just doesn't feel as attainable as it did for the older generations. So does that mean Gen Z is, as they would say, cooked? Should we just give up the dream of homeownership?Surprisingly, most Gen Zs still see real estate as a reliable way to build wealth, at least according to a recent survey. But at the same time, many feel it's getting harder to break into the market, with affordability ranking among the biggest concerns.Considering that many are still in school or just starting out in their careers, it's no surprise that buying a home isn't their priority right now. Property ownership feels more like a "later" goal.Still, the desire to own hasn't disappeared. While they may not view property as a status symbol the way older generations did, many still prefer owning over renting. So it's not that Gen Z doesn't want to own homes, it's just that times have changed. With so much more to consider and other priorities to juggle, buying a home simply isn't at the top of the list right now. In this article, we will explore: Concerns and considerations Why Gen Zs will still buy homes eventually, at least in Singapore Tips for Gen Z homebuyers So... Does Gen Z still dream of owning homes?Concerns and considerationsLet's be real, buying a home in this day and age is no small feat. And it's not hard to see why many Gen Zs are taking a step back.Income can't keep up with property price growthWhile household incomes have grown over the years, property prices have risen faster. In 2019, the median income per household member was about $2,925 per month. By 2024, it had grown to $3,615. An increase of roughly 23.6%, not accounting for inflation!But over that same period, the average HDB resale price jumped from $432,138 to $612,597. That's a 41.8% increase, nearly double the pace of income growth. To put that into perspective, if the average person earns about $3,615 a month (or roughly $43,380 a year), the price gap of $180,000 between 2019 and 2024 is more than four times their annual income. And we're still talking about HDB here. With private properties, the gap can be even steeper!Economic uncertaintyBeyond affordability, Gen Z faces other pressures too, from rising interest rates, inflation, to job insecurity. It's not that they're uninterested in property, they just have to be extra cautious in today's climate.Delayed milestonesMore young Singaporeans today are choosing to focus on their education, career, or travel before settling down. And that has a real impact on when they can buy a home. If you're single, you can't apply for a BTO until you're 35 years old. Private properties might feel even more out of reach since there are no subsidies.For married couples, the minimum age requirement is lower at 21 years old. But if you haven't found the one yet, or you plan to marry later, then homeownership naturally gets pushed back too.Lifestyle choicesGen Zs typically value flexibility, experience, and self-expression, which are things that don't always align with being tied down by a long-term mortgage. Many want the freedom to work or live abroad, take career breaks, or switch jobs frequently to explore new opportunities. With that mindset, renting or co-living can feel more practical than owning (at least for now).Why Gen Zs will still buy homes eventually, at least in SingaporeEven with all that said, Gen Zs in Singapore are in a far better position than their peers in other countries. Here's why homeownership remains firmly within reach here, and why our Gen Zs will eventually enter the property market.Affordable public housingCompared to private property or overseas markets, HDB flats remain an attainable entry point. The government does a lot to ensure that BTO flats are priced fairly, and first-timers get priority allocation. That makes owning a home much more feasible.Housing grantsOn top of that, the government offers several housing grants for those who qualify. First-timers can even unlock up to $230,000! Surely, these subsidies can help Gen Zs afford their first home.Central Provident Fund (CPF)As an employee in Singapore, your employer automatically contributes to your CPF every month. These contributions help you save for retirement, housing, and healthcare. Essentially, it builds a financial safety net over time.The CPF contribution rate depends on a few factors: whether you're a Singapore Citizen or Permanent Resident, your age group, and your total wages, which you can check here. Together, your own and your employer's contributions form a steady pool of savings that many eventually use to buy their first home.However, do note that when you sell your flat, you need to return the grant PLUS CPF interest back to your CPF account. Here's a short clip to help you understand it better. @propnexpert 4. Deep-rooted homeownership cultureIn Singapore, homeownership isn't just an aspiration, it's part of our cultural DNA. Around 90% of Singaporeans own their homes, a figure that speaks volumes about how deeply it's tied to our sense of stability, identity, and belonging.Even the younger generation still shares the same sentiment. Surveys show that 70% of young Singaporeans prefer owning over renting. And, 86% of Gen Z view their home as a reflection of their independence and personality.Tips for Gen Z homebuyersTo my fellow Gen Z, buying your first home might feel intimidating, but it doesn't have to be. Here's a quick checklist to help you get started.Start planning nowEven if you're not buying yet, understand how your CPF contributions grow, what grants you qualify for, and how loan limits affect your affordability. The earlier you map this out, the easier it'll be to make smart moves later.Build the right mindsetYour first home doesn't have to be your forever home. See it as a stepping stone. A base that can grow your equity and open doors for future upgrades. Starting small can make all the difference. This is what Property Wealth System (PWS) is all about: learning how to sequence your property moves strategically. So every decision builds towards financial freedom, not just ownership.Run the full numbers.Don't just look at the selling price. Add up everything from your monthly loan repayments and CPF usage to stamp duties, legal fees, and renovation costs. These can easily add tens of thousands to your total bill. Use our calculators to see how much you can comfortably afford without stretching your budget.BTO vs Resale vs ECA BTO flat usually takes 4-5 years to complete, plus 5-10 years Minimum Occupation Period (MOP) depending on the type of flat you're getting. So in total, you'd be locked in for 9-15 years. However, it also comes with stronger subsidies and lower prices. Resale flats and ECs, on the other hand, offer immediate occupancy but fewer subsidies.Think long-termWhere you live can shape your day-to-day life. Consider career plans, proximity to families, and potential future family needs. Living closer to your parents, for instance, could make childcare support easier down the road, or on the contrary, let you care for them as they age.Get mortgage pre-approval early.Don't wait until you've found your dream home to check your loan eligibility. A bank or HDB loan pre-approval gives you a clear sense of your borrowing limit, interest rates, and repayment period. So save yourself some time and get that pre-approval!Seek guidance, not just listings.Get professional help. Someone who understands first-time buyers and youth-focused finance options. The right agent can help you navigate grants, CPF usage rules, and negotiation strategies that maximise your budget.So... Does Gen Z still dream of owning homes?Gen Zs still want to own homes. They're simply pacing themselves differently, given how shaky the economy feels right now. But don't be discouraged, because here in Singapore, we have some advantages. From affordable public housing, schemes and grants, and CPF savings to the "must-own-home" culture.Even if you're not ready to make a purchase, what you can do is start planning from now on. You can also join us at the upcoming Property Wealth System (PWS) Masterclass to learn more about how you can use property as a tool to build the life you want. 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.