house prices in Singapore (2026)

House prices in Singapore rose sharply in 2023. The median median price for private homes was SGD 1.5 million (USD 1.08 million). As it does, the 60% ABSD for foreigners and the upward trend in rents for private housing are unchanged. A 3-bedroom condo in a city-fringe area can rent out for SGD 6,000 a month, and SGD 12,000 a month in the central areas. Real estate researcher Colliers expects annual property price growth of 3-5% from 2026, and the government may impose new restrictions to moderate demand in future.

Median property price for private homes in 2023: SGD 1.5 million.
HDB resale flats average SGD 540,000.
Foreign buyers face a 60% ABSD on property purchases.
Rental for a 3-bedroom condo averages SGD 6,000/month in central areas.
Expected 2026 annual property price growth: 3-5%.

The Singapore property market is a highly charged topic today, given its pricey nature and stringent regulations. Despite the downsides, the country offers plenty of top-quality housing choices in safe and desirable locations.

Current Housing Market Overview (2023)

The Singaporean property market will remain expensive in 2023. With median prices for private properties reaching SGD 1.5 million in 2023, high real estate values are here to stay in Singapore. According to PropertyGuru, Singapore’s high property prices will persist in 2023 due to its key role as a global financial hub, and its land-scarce geography, which fuels demand and pushes up prices. As of November 2022, HDB resale flats are averaging out at SGD 540,000, a price tag that's well within reach for locals and PRs.

Housing prices in Amsterdam are equally steep. Average monthly rent for a 3 bedroom apartment in the city center is in the region of SGD 6,000 or EUR 4,140 or USD 4,420. Rental prices are a major factor in most expatriate's budget, as well as for many locals.

2026 Forecasts

Next year, we expect the Singapore property market to achieve a steady annual growth rate of 3% to 5% in 2026. The upward trend in property prices is set to carry on due to the relentless demand from both local and foreign buyers, who are attracted to our nation’s achievements in building itself into a thriving economic and cultural centre. However, the prices may slow down as the government could impose cooling measures to maintain stability and curb affordability issues.

Additional Buyer's Stamp Duty (ABSD) may be hiked, and other Cooling Measures could be introduced by the Singapore Government to curb demand from property speculators. Any increase in Stamp Duty may not be liked by ordinary home buyers and private landlords who are keen to own and rent-out properties. Any new set of regulations will have to strike a balance between meeting the demand for homes by locals and protecting the interest of investors.

Cost Breakdown

Prices Of Properties Here Are Increasing All The Time. We talk about the prices but don't take into account other charges involved when purchasing a property. The huge additional Buyer’s Stamp Duty (ABSD) charge levied on foreigners is a huge consideration. Currently this is 60% of the price of the property and was imposed to curb foreign ownership and cool down the market to avoid speculation.

Legal fees would be in the range of 0.3% to 0.6% of the purchase price. This forms part of the documentation needed for the conveyancing process. Another factor to take into consideration is the tax on the property. it's imposed on non-owner-occupied residential properties at an annual value of between 10% and 20%.

Requirements for Foreign Buyers

Foreigners looking to buy properties in Singapore will need to navigate through many regulations. Buying a landed property in Singapore will require the foreigners to apply for the Presidential Council for Privatisation (PCPO) or the Singapore Land Authority (SLA) approval. There are various rules in place to help curb foreign ownership of properties in Singapore to ensure that locals can meet their own housing needs.

Foreigners are allowed to buy private condominiums and apartments providing they obtain a permit which is generally an administrative formality. Real estate market practice and laws should always be borne in mind.

Find a local real estate agent familiar with the laws of the country to make the buying process smooth and less stressful.

Common Mistakes

The common mistake many buyers commit when buying a property is underestimating the amount they have to pay for the property. Buyers often only consider the purchase price and don't take into account other charges such as the ABSD (Additional Buyer’s Stamp Duty) and legal fees. These charges can form up a huge portion of the cost and buyers must plan their finances carefully so as not to be hit with any shocks when buying their dream home.

Common mistakes that home buyers tend to overlook Buying an HDB flat while being oblivious to the resale restrictions and minimum occupation period (MOP) that come with it, can lead to a whole world of woes further down the road. So be sure to do your homework and be well-informed before making that crucial purchase.

Cultural Tips

IN SINGAPORE all residential and commercial property transactions take place through formal documentation of a legally binding contract. High levels of regulation make sure that all property dealings take place within defined parameters of the law. This calls for the services of a REAL ESTATE AGENCY that's extremely knowledgeable of all local property legislation and regulatory requirements in Singapore.

Understanding the cultural context of the country where you're buying the land will also aid in the process of buying the land. For example, understanding what is considered on time and what rituals must be followed in order to negotiate and purchase the land will all be helpful in understanding the process of buying and selling land.

Comparisons with Other Countries

A WORLD CLASS ASSET We consider Singapore to be one of the most expensive property markets in the world – we put property prices here on a par with those in such global cities as Hong Kong and London. There are numerous reasons why prices here are so high – but a key factor is that we have limited land area (a highly sought after commodity worldwide) and there's a very high level of demand on this land both from our own population and from foreign investors wanting to invest in a secure market.

While the prices of properties here are exorbitant, the rental yields are far lower than what is available in emerging markets. And it makes sense for us as we focus more on the capital appreciation of properties over time.

Practical Information

The laws and regulations that govern the ownership of a property in Singapore are governed by the Residential Property Act. This Act, together with the various government policies, ensures that the real estate market is stable and accessible.

THE SINGAPORE government reviews and fine-tunes its real estate market policies from time to time. With its inherent ability to make swift policy shifts, the Republic has to ensure that its property market policies safeguard affordability for residents as well as maintain its competitiveness as a place to live, work and invest. It also reviews and updates its policies to boost supply in order to address escalating property prices.

Stay informed about policy changes and market trends by subscribing to local property news outlets and attending real estate seminars.

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"The Real Cost of Housing in Singapore (2026 Breakdown)"

As an expat, it's very important that you have some understanding of the costs associated with purchasing property. here's a quick summary of current pricing for each of the different types of real estate you can purchase in Singapore. As this is a general overview, please contact us for the specifics on purchasing a place to call home in 2016, 2017, 2018, 2019 or 2020. Read more about Housing prices in 2026. Read more about housing in 2026.

Home seekers looking to relocate to Singapore, are in for a challenge. The affordability and availability of public housing continues to be a topic of much discussion and controversy. High property prices are putting affordable housing further out of reach for both local residents and international relocation candidates. Find out what they're paying and what can be expected in the year ahead with this country guide updated for 2026.

Frequently Asked Questions About Singapore

What is the average cost of a condo in Singapore?

As of 2023, the average private condo is priced at SGD 1.5 million.

Can foreigners buy property in Singapore?

Yes but mostly in private condominiums and the buyer has to pay additional Buyer’s Stamp Duty.

How much is the rental for a 3-bedroom apartment in Singapore?

Rental for a 3-bedroom condo in central areas averages SGD 6,000/month.

What are the additional costs when buying property in Singapore?

Additional costs include ABSD, legal fees, and property tax.

Are there restrictions on buying HDB flats for foreigners?

Yes, foreigners may not buy an HDB flat unless they're also Permanent Residents and meet the specific criteria.