Tenure Price Trends

How Freehold, Leasehold, and HDB prices compare over time

How to Read the Tenure & Price Trends Insight

Key Takeaways

  • This insight is powered by live URA and HDB transaction data refreshed monthly.
  • Use the district filter above the chart to narrow results to a specific planning area.
  • Hover any data point on the chart for exact values and transaction counts.

What It Does

The Tenure & Price Trends insight compares median PSF and price-per-unit trends for freehold (FH), 999-year, and 99-year leasehold private non-landed properties across Singapore. Data is drawn from URA caveat records going back to 2010 and refreshed monthly. The primary chart shows the FH/99-yr median PSF gap over time — both in absolute dollars per square foot and as a percentage. A secondary view breaks this down by district and planning area, so you can see whether the tenure premium ...

Why It Matters

The decision to buy freehold versus leasehold is one of the most consequential and least well-understood choices in Singapore property. A 99-year leasehold unit in a comparable location typically trades at a 10–20% PSF discount to freehold — on a $1.5M purchase, that discount is $150,000–$300,000. The FH premium is not arbitrary: it reflects the market's pricing of lease decay, which accelerates sharply once a property passes the 70-year-remaining mark (roughly 29 years after a new 9...

How It Works

  • Select a district from the filter or leave it blank to view Singapore-wide data.
  • Use the time-range buttons (1Y/2Y/3Y/5Y/All) to adjust the chart window.
  • Hover any point on the chart to see exact values and underlying transaction counts.
  • Review the KPI cards above the chart for headline numbers at a glance.

Examples

D15 (East Coast): FH vs 99-yr premium narrows over 2021–2025

Inputs
District
D15 — Katong / East Coast / Marine Parade
Tenure comparison
Freehold vs 99-year leasehold
Property type
Non-landed private condo/apartment
Time range
5 years (2021–2025)
Build year filter
2010–2020 (same-era units)
Results
FH premium in 2021
~22% PSF above 99-yr equivalents
FH premium in 2025
~14% PSF above 99-yr equivalents
Trend
Narrowing — 8 ppt compression over 4 years

How to read this: D15 shows a classic premium compression pattern. As new 99-yr launches (Continuum excluded) flooded the East Coast corridor at strong PSF prices, buyers re-rated leasehold quality upward and the FH gap compressed. For a buyer choosing between a FH resale at $1,800 PSF and a 99-yr resale at $1,550 PSF in D15, this chart shows the 14% gap is near its historical low — suggesting FH may be relatively cheap compared to its long-run average premium, while 99-yr units are priced at a thin discount.

D9 vs D28: Contrasting FH premium regimes

Inputs
District A
D9 — Orchard / River Valley (CCR freehold belt)
District B
D28 — Seletar / Yishun (OCR, limited FH supply)
Tenure comparison
Freehold vs 99-year
Time range
5 years
Results
D9 FH premium (2025)
~16% PSF
D28 FH premium (2025)
~28% PSF
Interpretation
Scarcity premium higher in OCR where FH supply is thin

How to read this: In D9, FH stock is abundant and the market is well-arbitraged — the premium is real but moderate. In D28 (Seletar/Yishun), freehold private non-landed units are genuinely scarce, so buyers pay a disproportionate premium for the rare ones that come to market. This has investment implications: an FH unit in D28 has a more captive resale audience and potentially stronger en-bloc prospects than the same unit in D9, where en-bloc economics are harder. The tenure premium chart makes this scarcity dynamic immediately visible.

Tips & Pitfalls

Expert Tips

  • Compare 2–3 districts side-by-side to spot relative outliers rather than reading a single number in isolation.
  • Always check the transaction count alongside any price metric — small sample sizes can produce misleading averages.
  • Pair this insight with the related calculators and maps below for a complete decision framework.

Common Pitfalls

  • Interpreting short-term movements (under 1 year) as trends — Singapore property data is noisy and needs a longer window.
  • Ignoring the difference between median and mean — means are pulled by luxury outliers in prime districts.
  • Forgetting that new-launch prices are often subsidised by developer discounts not visible in headline data.

Frequently Asked Questions

Where does the data come from?
Data is sourced from the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) official APIs, refreshed monthly.
How often is this insight updated?
The underlying transaction data is synced monthly from URA and HDB. The charts recompute live as new data arrives.
Can I filter by district?
Yes — use the district filter above the chart. You can also share a deep link to a specific district via the URL.

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