Owning land in a land-scarce Singapore
Singapore had 73,273 landed homes at the end of 2020, and ten years of building added only 5.1%. We tracked 18,013 of these houses from purchase to sale. The middle one sold for 1.60× what its owner paid, which is 2.5% a year after inflation. For condos the same measures are 1.32× and 1.5%.
The street
Forty estates, one house each
The 40 landed estates with the most sales on record, drawn as one terrace row. Each house is an estate. Its height is the measure you pick, and its colour is the land's tenure. Pick a house to see what its land cost in 2000, in 2010 and today.
Price per square foot is the median of matched sales since January 2024. Landed prices are quoted on the recorded area of each sale, which for most houses is the land.
Did landed keep wealth better than a condo?
Yes, on every measure of value kept. We put 18,013 landed sales next to the 158,165 condo sales in our resale exit data, worked out the same way. Inflation is taken out using Singapore's consumer price index. A figure above zero means the owner came out with more buying power than they put in.
Bought in the same year, which grew more?
This compares buyers who bought in the same year, since timing moves every result. Landed grew faster in 19 of the 21 buying years where both records hold at least 100 sales. A 2007 landed buyer who has since sold made 8.7% a year; a 2007 condo buyer made 4.6%.
Growth before inflation, by year bought. Buyers in the same year faced similar inflation, so the gap between the lines is close to the gap in value kept. The line stops in 2022 because most recent buyers have not sold yet.
How long does landed take to protect your wealth?
Fifteen years or more. Owners who sold after three to ten years kept pace with inflation 65.3% of the time, a little behind condos at 72.4%. Owners who held fifteen years or more kept pace 93.6% of the time and sold for 2.33× the price they paid. Condo owners who held as long managed 82.9% and 1.84×.
| Held for | Landed sales | Landed kept pace | Condo kept pace | Landed sale ÷ purchase | Condo sale ÷ purchase | Landed after inflation | Condo after inflation |
|---|---|---|---|---|---|---|---|
| Under 1y | 769 | 78.3% | 89.8% | 1.14× | 1.16× | – | – |
| 1–3y | 2,083 | 79.9% | 78.3% | 1.30× | 1.21× | 11.7% | 6.1% |
| 3–5y | 1,852 | 70.0% | 74.5% | 1.30× | 1.19× | 4.6% | 2.1% |
| 5–7y | 1,623 | 65.4% | 72.2% | 1.30× | 1.20× | 2.8% | 1.6% |
| 7–10y | 2,633 | 62.0% | 70.9% | 1.27× | 1.25× | 1.4% | 1.3% |
| 10–15y | 4,148 | 73.6% | 70.8% | 1.61× | 1.42× | 2.2% | 1.3% |
| 15y+ | 4,905 | 93.6% | 82.9% | 2.33× | 1.84× | 2.3% | 1.3% |
"Kept pace" means the sale price rose at least as much as consumer prices over the same years. Growth after inflation is a yearly rate, so it is not shown for holds under a year. The 11.7% a year for one-to-three-year landed holds is mostly houses rebuilt and resold, not land rising that fast.
How did landed prices ride out the downturns?
In today's dollars the middle landed sale fetched $1,100 psf in 1996 and fell to $651 by 2005. It did not pass the 1996 level again until 2011. That is 15 years for anyone who bought at the top. Since then the line has kept climbing, to $2,041 psf in 2026.
Today's dollars means each year's price is scaled up by consumer price inflation to 2025 levels. Each year's median mixes whichever estates traded that year, so this is a guide to direction, not a price index. Years with fewer than 30 sales are left out. URA's own index, which is built to compare like with like, shows landed prices rose 7.6% in 2025, against 3.3% for all private homes.
Does the lease matter when you own land?
More than anything else on this page. Freehold landed grew 4.0% a year after inflation. Landed on a 99-year lease grew 1.2%, closer to a condo. A 999-year lease behaved like freehold. With condos the gap mostly disappears: freehold condo resales grew 1.2% a year after inflation, and leasehold ones 1.6%.
| Tenure | Estates | Matched sales | Sale ÷ purchase | After inflation a year | Kept pace with inflation | Gross yield |
|---|---|---|---|---|---|---|
| Freehold | 318 | 9,742 | 1.71× | 4.0% | 82.5% | 3.2% |
| 999-year leasehold | 81 | 2,062 | 1.67× | 3.9% | 79.7% | 3.2% |
| 99-year leasehold | 101 | 6,209 | 1.44× | 1.2% | 68.0% | 4.1% |
One reading of the condo result: a condo owner's share of the land is small, so freehold on a strata title adds less. On a landed plot the land is most of what you own, so whether it runs out matters more. The leasehold estates here rent at 4.1% gross against 3.2% for freehold, which is the usual trade for a shorter lease. Tenure is EdgeProp's label for the whole estate.
Where the landed estates are
482 of the 500 estates, sized by sales on record and coloured by tenure. Tap one for its growth after inflation.
Each estate is one representative OneMap address, not its outline or centre. The other 18 estates could not be placed and appear in the table only.
By postal district
| District | Segment | Estates | Sales on record | Matched sales | Price psf since 2024 | After inflation a year | Gross yield |
|---|---|---|---|---|---|---|---|
| D19 Serangoon Garden, Hougang, Punggol | OCR | 86 | 7,887 | 2,879 | $1,948 | 3.6% | 3.5% |
| D28 Seletar, Yio Chu Kang | OCR | 44 | 5,431 | 1,697 | $1,580 | 3.2% | 3.1% |
| D20 Bishan, Ang Mo Kio | RCR | 34 | 4,771 | 1,807 | $2,166 | 3.4% | 3.1% |
| D16 Bedok, Upper East Coast | OCR | 49 | 3,951 | 1,384 | $1,591 | 2.2% | 3.4% |
| D23 Bukit Batok, Bukit Panjang, Hillview | OCR | 21 | 3,712 | 1,430 | $1,403 | 1.6% | 3.1% |
| D10 Bukit Timah, Holland, Tanglin | CCR | 43 | 3,494 | 981 | $2,598 | 3.1% | 3.2% |
| D15 Katong, Joo Chiat, Marine Parade | RCR | 27 | 3,453 | 1,163 | $2,294 | 5.3% | 3.0% |
| D11 Novena, Newton, Thomson | CCR | 29 | 2,711 | 927 | $2,570 | 2.2% | 3.4% |
| D26 Upper Thomson, Springleaf | OCR | 18 | 2,390 | 653 | $1,607 | 2.5% | 2.9% |
| D13 Macpherson, Potong Pasir | RCR | 16 | 2,217 | 792 | $2,118 | 4.1% | 3.6% |
| D21 Upper Bukit Timah, Clementi Park | OCR | 28 | 2,022 | 545 | $1,955 | 2.8% | 3.3% |
| D22 Jurong | OCR | 5 | 1,765 | 752 | $1,375 | 0.9% | 4.0% |
| D27 Yishun, Sembawang | OCR | 12 | 1,757 | 794 | $1,207 | 3.4% | 3.9% |
| D17 Loyang, Changi | OCR | 11 | 1,733 | 798 | $1,762 | 0.4% | 3.4% |
| D05 Pasir Panjang, Clementi | RCR | 21 | 1,165 | 235 | $1,832 | 2.8% | 3.5% |
| D18 Tampines, Pasir Ris | OCR | 4 | 862 | 420 | $1,484 | 1.3% | 4.1% |
| D14 Geylang, Eunos, Paya Lebar | RCR | 11 | 632 | 121 | $2,178 | 6.0% | 3.8% |
| D25 Kranji, Woodlands | OCR | 7 | 560 | 212 | $1,264 | 1.1% | 4.2% |
| D04 Telok Blangah, HarbourFront | RCR | 8 | 235 | 0 | – | – | 3.5% |
| D09 Orchard, River Valley | CCR | 3 | 132 | 23 | $4,738 | – | 1.9% |
| D02 Tanjong Pagar, Chinatown | CCR | 1 | 70 | 31 | $4,020 | – | 2.1% |
| D03 Queenstown, Tiong Bahru | RCR | 1 | 42 | 0 | – | – | 3.9% |
| D12 Balestier, Toa Payoh | RCR | 1 | 27 | 0 | – | – | 2.9% |
Districts come from each estate's postal code. Segments follow URA: CCR (Core Central Region), RCR (Rest of Central Region) and OCR (Outside Central Region). A district with fewer than 30 matched sales, or with sales from fewer than three estates, shows counts, price and yield only.
Look up an estate
All 500 estates, searchable and sortable. Open a row to see what its land cost in 2000, 2010 and today, and its six latest matched sales.
Showing the 40 estates with the most sales on record.
| Estate | Tenure | Sales on record | Price psf since 2024 | Sale ÷ purchase | After inflation a year | Gross yield |
|---|---|---|---|---|---|---|
| Serangoon Garden EstateD19 · Walmer Drive | Freehold | 2,627 | $2,094 | 1.88× | 6.1% | 3.6% |
| Seletar Hills EstateD28 · Nim Drive | 999-yr | 1,511 | $1,896 | 1.85× | 5.9% | 3.8% |
| Sembawang Hills EstateD20 · Casuarina Road | Freehold | 1,256 | $2,351 | 1.91× | 5.3% | 3.8% |
| Opera EstateD15 · Aida Street | Freehold | 1,249 | $2,318 | 1.95× | 5.0% | 3.1% |
| Villa VerdeD23 · Verde Avenue | 99-yr | 1,195 | $1,403 | 1.39× | 1.3% | 3.7% |
| Frankel EstateD15 · Siglap Plain | Freehold | 1,160 | $2,270 | 1.80× | 5.7% | 3.3% |
| Loyang VillasD17 · Loyang Rise | 99-yr | 925 | $1,396 | 1.22× | -0.3% | 3.2% |
| Sennett EstateD13 · Macpherson Road | Freehold | 754 | $2,220 | 1.91× | 4.1% | 3.1% |
| Pavilion ParkD23 · Pavilion Rise | Freehold | 745 | $2,413 | 1.51× | 2.7% | 2.6% |
| The SpringsideD26 · Springside Link | Freehold | 731 | $2,317 | 1.49× | 2.4% | 2.3% |
| WestvilleD22 · Westwood Terrace | 99-yr | 693 | $1,231 | 1.48× | 1.0% | 4.6% |
| Luxus HillsD28 · Seletar Green Walk | 999-yr | 524 | $2,725 | 1.39× | 3.8% | 2.0% |
| Thomson Garden EstateD20 · Jalan Isnin | Freehold | 521 | $3,033 | 1.83× | 4.4% | 3.1% |
| The ShaughnessyD27 · Miltonia Close | 99-yr | 506 | $726 | 1.74× | 4.1% | 6.3% |
| Macpherson Garden EstateD13 · Jalan Gembira | Freehold | 497 | $2,860 | 1.70× | 4.0% | 3.6% |
| The RiverinaD18 · Riverina View | 99-yr | 446 | $1,484 | 1.40× | 1.1% | 3.8% |
| Mimosa TerraceD28 · Mimosa Terrace | Freehold | 403 | $2,415 | 1.72× | 3.0% | 2.5% |
| The TeneriffeD10 · Laurel Wood Avenue | 99-yr | 400 | $1,141 | 1.80× | 2.6% | 5.2% |
| D'manorD16 · Tanah Merah Kechil Avenue | 99-yr | 374 | $907 | 1.79× | 2.3% | 4.9% |
| Sembawang Springs EstateD27 · Jalan Salang | Freehold | 359 | $1,596 | 1.87× | 3.7% | 4.2% |
| Park VillasD19 · Park Villas Terrace | 99-yr | 356 | $1,712 | 1.18× | -0.7% | 3.6% |
| Shamrock ParkD10 · Namly Drive | Freehold | 352 | $2,742 | 2.00× | 6.0% | 3.1% |
| Hillcrest VillaD11 · Hillcrest Road | 99-yr | 348 | $1,306 | 1.12× | -0.7% | 3.6% |
| Horizon GardensD20 · Ang Mo Kio Avenue 2 | 99-yr | 335 | $928 | 1.51× | 1.1% | 4.9% |
| Springleaf GardenD26 · Thong Soon Avenue | Freehold | 333 | $1,471 | 1.79× | 3.7% | 2.9% |
| Charlton ParkD19 · Jalan Samarinda | Freehold | 327 | $1,816 | 1.60× | 5.2% | 3.4% |
| Westwood ParkD22 · Westwood Drive | 99-yr | 320 | $1,375 | 1.31× | 0.9% | 4.0% |
| SpringhillD27 · Sembawang Walk | 99-yr | 318 | $799 | 1.65× | 2.7% | 5.0% |
| Lakeside GroveD22 · Corporation Rise | 99-yr | 316 | $1,536 | 1.37× | 0.3% | 4.3% |
| Burgundy HillD23 · Burgundy Crescent | 99-yr | 311 | $1,327 | 1.73× | 1.7% | 4.4% |
| Golden Hill EstateD19 · Li Hwan Terrace | Freehold | 311 | $2,098 | 1.69× | 3.9% | 3.1% |
| Hillview Garden EstateD23 · Elizabeth Drive | 999-yr | 310 | $1,880 | 1.86× | 4.0% | 4.2% |
| Yunnan GardensD22 · Yunnan Crescent | Freehold | 303 | $1,600 | 1.48× | 2.9% | 4.0% |
| The Countryside | Freehold | 292 | $1,974 | 1.33× | 0.8% | 2.8% |
| Pasir Ris Beach ParkD18 · Pasir Ris Lane | 99-yr | 291 | $972 | 1.52× | 2.6% | 4.4% |
| Binjai CrestD21 · Jalan Kampong Chantek | 99-yr | 287 | $816 | 1.59× | 1.8% | 5.7% |
| Kew Vale | 99-yr | 287 | $1,376 | 1.26× | -0.2% | 4.5% |
| Braddell Heights EstateD13 · Melrose Drive | Freehold | 282 | $1,879 | 1.80× | 5.2% | 3.8% |
| Watten EstateD11 · Park Vale | Freehold | 275 | $2,969 | 1.81× | 4.4% | 2.9% |
| Faber HillsD05 · Faber Crescent | Freehold | 266 | $1,832 | 1.89× | 4.3% | 3.8% |
Sale ÷ purchase and growth after inflation are medians of our matched sales. Sales on record and gross yield are EdgeProp's figures. Those columns stay blank for estates with fewer than 10 matched sales, including all estates outside the top 200.
How to read this page without fooling yourself
Data updated 13 October 2026
Most landed owners do not buy to trade. They buy a piece of land in a country with little to spare and live on it for decades. Many hope it will hold their wealth for the next generation. So this page measures what matters for that goal: did the sale price keep up with the cost of living, and by how much? The record covers 18,013 houses bought and later sold in the 200 most-traded estates, from May 1995 to Aug 2026. Estate figures cover 500 estates.
Five terms this page uses
- Landed home: a terrace, semi-detached house or bungalow on its own plot of land. Cluster houses inside a condominium are a different product and are not counted.
- Matched sale: one house bought once and sold later, with both prices recorded.
- Sale ÷ purchase price: how many times its purchase price the house sold for. 1.60× means a $2 million house sold for $3.2 million.
- After inflation: growth once rising consumer prices are taken out. Singapore's prices rose 65% from 1995 to 2025, so a house that only matched that had stood still in buying power.
- Gross yield: a year of rent divided by the price, before any costs.
Why land is scarce here
Singapore has little land to spare, and almost all new private housing goes up as flats. JLL Research, working from URA data, counted 73,273 landed homes at the end of 2020, up only 5.1% on 69,743 ten years earlier. In early 2021 the launch pipeline held 142 landed homes against 8,466 flats. Demand comes mostly from Singaporeans. Under the Residential Property Act, foreigners, including permanent residents, need approval from the Singapore Land Authority to buy a terrace, semi-detached house or bungalow (see SLA's foreign ownership of property page). A fixed supply and a mostly local buyer pool help explain why landed prices have held up. They do not guarantee they will.
Four ways to be wrong with this data
First, this is the busiest part of the landed market. The matched sales come from the 200 estates with the most sales on record. Estates that rarely trade, including most Good Class Bungalow areas, are barely in it.
Second, a landed gain can include a new house. Owners often rebuild before selling. The record has the two prices, not the building bill, so some growth was paid for by the owner. A condo owner cannot do this, which flatters landed in every comparison above.
Third, owners who would have sold at a loss often did not sell. A freehold owner has no lease running down and can wait for years. The weakest outcomes may never have become sales, so the true share that kept pace is likely lower than 77.2%.
Fourth, do not compare a landed price per square foot with a condo one. Landed sales here are priced on the recorded area, usually the land, and the middle house sits on about 2,422 sq ft. A condo's price is per square foot of strata floor area. Compare how much value each kept, not their prices.
Where this fits
Many landed buyers arrive from a condo or an HDB flat. For the condo side, the resale returns map plots 740 condo projects with their own records. The resale exit data cuts 158,165 condo resales by district, years held and yield. For what stamp duty comes to on a given price and buyer profile, use the stamp duty calculator. If the move means selling a flat first, the guide to selling an HDB and buying private covers the timing.
The short version
What to take away
- Landed homes sold for 1.60× their purchase price in the middle case, against 1.32× for condos.
- After inflation, landed grew wealth by 2.5% a year, against 1.5% for condos.
- Held fifteen years or more, 93.6% of landed sales kept pace with inflation, and the middle one sold for 2.33× the price paid.
- Sold within ten years, landed kept pace less often than a condo. It rewards owners who stay.
- Freehold landed grew 4.0% a year after inflation; 99-year leasehold landed grew 1.2%.
- A buyer at the 1996 peak waited 15 years for prices to recover in today's dollars.
So what should you do with this?
Decide first how long you can hold, because the record says it matters more than which estate you pick. If the answer is under ten years, a landed home has not been a safer store of value than a condo. If it is fifteen years or more, look up your shortlisted estates in the table above. Check two things: the tenure, and what the land cost in 2010 against today.
Update log
- 2026-10-13 (later the same day): Page refocused on wealth preservation. Every sale is now also measured after inflation, using the World Bank's consumer price series for Singapore, and by its sale-to-purchase multiple. The same measures were computed for the 158,165 condo resales so the two can be compared fairly. Added a downturn chart in today's dollars, URA's 2025 landed index and JLL's count of landed homes.
- 2026-10-13: Page published. 500 landed estates from EdgeProp's landed exports, geocoded through OneMap, and 18,013 matched buy-and-sell pairs for the 200 most-traded estates. A sale at exactly the purchase price is treated as not gaining, and very short resales above 1,000% a year are capped and left out of yearly medians.
Common questions
Do landed homes hold their value better than condos in Singapore?
In this record, yes. Across 18,013 landed homes bought and later sold in the 200 most-traded estates, the middle house sold for 1.60× its purchase price. After inflation, that is growth of 2.5% a year. Across 158,165 condo resales the same figures are 1.32× and 1.5% a year.
How much did landed homes grow after inflation?
The middle landed sale grew the owner's money by 2.5% a year after inflation, over a typical hold of 10.1 years. Before inflation it was 4.3% a year. Prices in Singapore rose 65% between 1995 and 2025, so the inflation-adjusted figure is the fairer measure of wealth kept.
How long should you hold a landed home to protect its value?
The longer the better. Owners who sold after three to ten years kept pace with inflation 65.3% of the time, below the condo figure of 72.4%. Owners who held fifteen years or more kept pace 93.6% of the time and sold for 2.33× what they paid. For condos held that long, the figures are 82.9% and 1.84×.
Does freehold matter for a landed home?
In this record, a great deal. Freehold landed estates grew 4.0% a year after inflation and sold for 1.71× the purchase price. 99-year leasehold landed estates grew 1.2% a year and sold for 1.44×. A 999-year lease behaved much like freehold, at 3.9% a year.
Why are landed homes scarce in Singapore?
Singapore has little land to spare, and almost all new private housing is built as flats. JLL Research, using URA data, counted 73,273 landed homes at the end of 2020, up only 5.1% on 69,743 ten years earlier. In early 2021 the launch pipeline held 142 landed homes against 8,466 flats. Most foreign buyers, including permanent residents, also need government approval to buy one.
What rental yield does a landed home earn?
The middle estate here yields 3.4% gross, against 3.6% for the middle condo project. Gross means a year of rent divided by the price, before maintenance, property tax, agent fees, empty months and income tax. Landed is bought to keep wealth, not mainly for rental income.
Can foreigners or permanent residents buy landed homes in Singapore?
Not without approval. Under the Residential Property Act, a foreign person needs approval from the Singapore Land Authority to buy a terrace, semi-detached or detached house. That includes permanent residents. Condo units, and strata landed houses inside an approved condominium, do not need it.
Where does this landed data come from?
EdgeProp's landed estate exports, covering the 500 estates with the most sales on record, geocoded through OneMap and compiled by PropertyInsider.sg. Matched buy-and-sell pairs cover the top 200 estates. Inflation comes from the World Bank's consumer price series for Singapore.
