D10 (Bukit Timah) detached vs terrace PSF gap: timing the premium cycle
- District
- D10 — Bukit Timah / Holland / Balmoral
- Metric
- Median PSF by landed type (terrace vs detached)
- Time range
- 2015–2025
- View
- Dual-line — terrace PSF + detached PSF
- D10 terrace PSF 2019
- ~$1,450
- D10 detached PSF 2019
- ~$2,100 (+45% premium over terrace)
- D10 terrace PSF 2023
- ~$2,050
- D10 detached PSF 2023
- ~$3,400 (+66% premium — near cycle high)
How to read this: The detached-to-terrace premium in D10 expanded from 45% in 2019 to 66% in 2023 — a near-cycle-high spread. Historically, this premium reverts toward 40–45% during market cooling phases as detached liquidity dries up faster than terrace. An upgrader evaluating a D10 detached at the 2023 premium level should price in the risk that the premium compresses in the next 2–3 years, effectively making the detached less cost-efficient relative to terrace on a per-sqft basis. The terrace at $2,050 PSF offers more transactional liquidity (higher volume share) and lower premium-compression risk.