- Freehold: $1,858 psf median PSF (38,535 transactions).
- 999-Year: $1,759 psf median PSF (4,147 transactions).
- 99-Year Leasehold: $1,720 psf median PSF (3,345 transactions).
Tenure is one of the most debated factors in Singapore property. This article compares freehold, 999-year, and 99-year leasehold condos based on actual transaction data from URA. Leasehold tenure implications are governed by the Singapore Land Authority.
Tenure Comparison Data
| Tenure | Median PSF | Avg Price | Transactions | YoY Trend |
|---|---|---|---|---|
| Freehold | $1,858 psf | $3,498,764 | 38,535 | ↑ 11.3% |
| 999-Year | $1,759 psf | $2,852,336 | 4,147 | ↓ 5.7% |
| 99-Year Leasehold | $1,720 psf | $1,622,041 | 3,345 | ↑ 0.6% |
Key Observations
Freehold properties are perceived as having perpetual value, but 99-year leasehold condos are often located in more central areas with better transport connectivity.
The freehold premium is currently +8.0% above 99-year leasehold on a PSF basis.
999-year leasehold properties are relatively rare and behave more like freehold in terms of pricing and depreciation.
Pros & Cons
✓ Strengths
- Perpetual ownership with no lease decay
- Historically stronger capital preservation
- No lease top-up required for en bloc
✗ Considerations
- Higher entry price per square foot
- Often located in less central areas
- Absolute returns may lag newer leasehold projects
Frequently Asked Questions
Does tenure really affect property value?
What happens when a Lease Decay Calculator99-year lease expires?
Is 999-year the same as freehold?
Methodology & Sources
This analysis covers all available transaction periods and is updated annually.
Transaction data sourced from URA.
- Median PSF values used to minimize outlier impact.
- New launch proxy: properties with TOP year within the last 3 years.
- Auto-generated from URA REALIS data. Last updated: 15 Mar 2026.
Median values used to minimize outlier impact. PSF = price per square foot.