Singapore’s terrace house has always occupied a peculiar sweet spot in the national imagination: landed enough to feel like a real home, yet priced within reach of the aspiring middle class — if “aspiring” and “S$3.8 million average transaction price” can be used in the same sentence. In 2025, terrace houses island-wide transacted at an average of S$4.34 million and a median S$2,055 psf, according to URA REALIS (as of 2026-05), making them the highest-volume landed sub-type in the city-state. If you are a Singaporean family who has outgrown a four-room HDB, a returning expatriate seeking that unencumbered private garden, or an investor quietly accumulating land-titled assets in a city with no room to build more, the terrace house is where the Singapore property dream crystallises — and where the due-diligence stakes are highest.
Singapore classifies landed residential properties into three main types: detached houses (bungalows and Good Class Bungalows), semi-detached houses, and terrace houses. The terrace category is itself subdivided into terrace houses (ground-level, land-titled, sharing party walls on two sides for intermediate units or one side for corner units) and strata terrace houses (share-of-land title, governed by a management corporation, common in newer privatised clusters such as those in Tampines and Yishun). In URA’s REALIS transaction system both sub-types appear under the broad “Terrace” property type, and the combined dataset is the basis for the statistics on this page.
Planning parameters are governed by the URA Development Control guidelines for Terrace Houses. Typical terraces require a minimum plot width of 6 m (for intermediate units) or 8 m (for corner units), and are limited to two to three storeys subject to the prevailing height control for the planning area. The minimum plot size for a standard landed house on its own lot is 1,500 sq ft under the current framework, though most existing terrace estates pre-date the current rules and contain plots ranging from 1,300 sq ft to 4,000 sq ft of land area. Gross plot ratio is not a concept applied to landed housing in the same way as for non-landed residential — building envelope is controlled through setback, coverage, and height rules instead.
Ownership of landed residential property in Singapore is restricted to Singapore citizens under the Residential Property Act. Permanent residents and foreigners must obtain Land Dealings (Approval) Unit (LDAU) approval from the Singapore Land Authority (SLA) before purchasing any landed residential property, including terrace houses. Approval is granted only in cases of demonstrated exceptional economic contribution and is not routinely available. For foreign buyers exploring Singapore property more broadly, see Buying a Condo as a Foreigner in Singapore for an overview of the non-landed pathway. Singapore citizens purchasing their second or subsequent residential property are also subject to Additional Buyer’s Stamp Duty (ABSD): 20% on a second property, 30% on a third or subsequent. Use the Landed Stamp Duty Calculator to model your full acquisition cost including BSD and ABSD at current rates. The TDSR Calculator is equally essential — even at an average S$3.8 million price point, the Total Debt Servicing Ratio ceiling of 55% constrains loan quantum significantly and catches many otherwise well-qualified buyers by surprise.
District 19 (Punggol, Hougang, Serangoon Gardens) dominates by transaction volume with 1,634 recorded deals over the dataset period, followed by District 15 (Joo Chiat, Katong, Amber Road) with 1,242, and District 28 (Seletar) with 677. The price premium in Districts 10, 11, 15, and 20 reflects proximity to top-tier primary schools, MRT interchange nodes, and historically coveted freehold addresses. For a granular district-level view of landed market momentum, the Landed Price Trends Insights tracker compares psf progression across all 28 districts on a rolling-quarterly basis, and the Landed Prices Map visualises median psf by planning area.
- 7,800 transactions recorded island-wide
- Average PSF: $1,782 psf
- Average price: $3,820,261
- Price range: $320,000 to $66,800,000
Overview
Terrace Houses are a significant segment of Singapore's landed property market. This guide covers pricing trends, district-level analysis, and key metrics to help buyers and investors make informed decisions.
District Breakdown
| District | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| D19 — Punggol, Hougang, Serangoon Gardens | 1,634 | $1,722 psf | $3,806,061 |
| D15 — Joo Chiat, Amber Road, Katong | 1,242 | $2,157 psf | $4,366,082 |
| D28 — Seletar | 677 | $1,733 psf | $3,623,273 |
| D16 — Bedok, Upper East Coast, Eastwood, Kew Drive | 660 | $1,443 psf | $3,249,405 |
| D20 — Ang Mo Kio, Bishan | 556 | $1,952 psf | $3,794,811 |
| D14 — Geylang, Eunos | 363 | $1,788 psf | $4,065,509 |
| D13 — Macpherson, Braddell | 347 | $2,022 psf | $3,524,617 |
| D23 — Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang | 289 | $1,575 psf | $3,228,489 |
| D5 — Pasir Panjang, Hong Leong Garden, Clementi New Town | 282 | $1,684 psf | $3,793,577 |
| D26 — Upper Thomson, Springleaf | 247 | $1,793 psf | $3,951,479 |
| D27 — Sembawang, Yishun | 223 | $1,086 psf | $2,650,102 |
| D21 — Upper Bukit Timah, Ulu Pandan, Clementi Park | 221 | $1,645 psf | $4,196,744 |
| D11 — Watten Estate, Novena, Thomson | 219 | $2,096 psf | $5,598,754 |
| D17 — Changi, Loyang | 206 | $1,338 psf | $2,556,893 |
| D10 — Ardmore, Bukit Timah, Holland Road, Tanglin | 187 | $2,130 psf | $5,362,005 |
| D22 — Jurong | 155 | $1,089 psf | $2,400,522 |
| D25 — Kranji, Woodgrove | 78 | $1,090 psf | $2,338,289 |
| D18 — Tampines, Pasir Ris | 77 | $1,185 psf | $2,549,833 |
| D9 — Orchard, Cairnhill, River Valley | 59 | $3,531 psf | $7,066,805 |
| D12 — Toa Payoh, Serangoon, Balestier | 37 | $1,957 psf | $3,590,832 |
| D8 — Little India | 19 | $2,364 psf | $4,077,947 |
| D2 — Anson, Tanjong Pagar | 13 | $3,428 psf | $5,383,333 |
| D4 — Telok Blangah, Harbourfront | 8 | $1,637 psf | $5,519,375 |
| D3 — Tiong Bahru, Queenstown | 1 | $5,491 psf | $4,900,000 |
Price Trend
| Year | Transactions | Avg PSF | YoY Change | Avg Price |
|---|---|---|---|---|
| 2021 | 2,070 | $1,478 psf | — | $3,245,302 |
| 2022 | 1,291 | $1,640 psf | +11.0% | $3,588,290 |
| 2023 | 1,029 | $1,823 psf | +11.2% | $3,893,624 |
| 2024 | 1,390 | $1,902 psf | +4.3% | $3,967,961 |
| 2025 | 1,501 | $2,055 psf | +8.0% | $4,337,486 |
| 2026 | 519 | $2,155 psf | +4.9% | $4,653,577 |
Land title with full ownership of both structure and soil. Unlike condominiums or even strata terrace houses, a freehold land-titled terrace gives the owner perpetual rights to the physical soil, conferring the freedom to rebuild, extend, or ultimately benefit from en-bloc collective sale or state acquisition at prevailing land rates. In a city where less than 5% of the total residential stock is landed, this scarcity has been the single most durable driver of long-run capital appreciation. The dataset confirms 45.8% cumulative psf appreciation from 2021 to 2026 across the terrace sub-type island-wide — outperforming the non-landed residential index over the same period. For a freehold-versus-leasehold deep dive, Freehold vs Leasehold — Detailed Analysis for Singapore Buyers quantifies the historical premium and its drivers.
Entry point to the landed market at the lowest nominal ticket. Among the three main landed sub-types — terrace, semi-detached, and detached — the terrace is almost invariably the lowest-cost entry. At an island-wide average of S$3.82 million (as of 2026-05), a terrace in, say, District 19 or District 16 can be acquired from S$2.5 million, compared with S$4 million–S$8 million for a comparable semi-detached and S$6 million–S$15 million for a detached bungalow. For HDB upgraders building a financial plan to cross into the landed tier, the HDB Upgrader Financial Planning guide maps the typical CPF, loan, and cash-proceeds sequencing, and the Landed vs Condo Calculator models the total-cost differential including maintenance, property tax, and ABSD scenarios.
Garden, privacy, and multi-generational living at human scale. The private outdoor garden — however modest at 1,500–2,500 sq ft for a smaller terrace — is irreplaceable for families with young children, elderly parents who need ground-level access, or households where domestic staff live on-site. Multi-generational occupancy is architecturally practical in a way that even the largest condominium penthouse cannot replicate. Noise isolation from neighbours is structurally superior to strata living despite shared party walls, and there is no management corporation levying quarterly contributions on your maintenance decisions.
Positive price momentum sustained across six consecutive years. From S$1,478 psf in 2021 to S$2,155 psf in early 2026, the terrace market has delivered a compound annual growth rate (CAGR) of approximately 7.8%. The year-on-year deceleration from +11.2% (2023) to +4.3% (2024) before re-accelerating to +8.0% (2025) and +4.9% (annualised pace in early 2026 data) is consistent with a maturing cycle rather than a trend reversal. Landed District 15 (Katong, Joo Chiat) at S$2,157 psf and Landed District 11 (Watten Estate, Novena) at S$2,096 psf illustrate the upper end of the price geography, while Landed District 27 (Sembawang, Yishun) at S$1,086 psf remains an entry-tier option for buyers prioritising land area over postcode prestige.
Citizenship restriction creates a structural demand ceiling and liquidity discount. Unlike condominiums, which draw from a global pool of buyers, terrace houses are effectively restricted to Singapore citizens (and a narrow approval pathway for PRs and foreigners). In a downturn, the smaller buyer pool translates to longer time-on-market and wider bid-ask spreads. Buyers who need to liquidate within a 24–36 month horizon face execution risk that headline psf figures obscure. Use the ROI Calculator and the Cash Flow Calculator to stress-test exit scenarios before committing.
High stamp duty load on second-property acquisitions. Singapore Citizens purchasing a second residential property pay 20% ABSD on the dutiable price; a third or subsequent property attracts 30%. On a S$3.8 million terrace, the ABSD alone on a second purchase is S$760,000 — an acquisition cost that must be recovered before any capital gain becomes realised profit. The Total Acquisition Cost Calculator models BSD + ABSD + legal fees + loan costs in a single scenario. The full policy schedule is maintained by the Inland Revenue Authority of Singapore (IRAS). Permanent residents face 5% ABSD on a first purchase; foreigners (with LDAU approval) face 60% ABSD as of the April 2023 cooling measure revision.
Maintenance, repair, and renovation costs are borne entirely by the owner. There is no management corporation to share the cost of structural repairs, drainage replacement, external repainting, or roof maintenance. A terrace house built in the 1980s or 1990s — the most common vintage in high-demand District 15, District 19, and District 20 estates — may require S$200,000–S$600,000 in renovation before it meets contemporary habitability standards. Buyers should conduct professional structural and M&E inspections and model renovation costs explicitly. The Landed Property Purchase Checklist guides buyers through the due-diligence steps specific to landed transactions.
Leasehold terraces face lease-decay headwinds that compound over time. Not all terrace houses in Singapore are freehold. A significant share of the District 27 (Sembawang) and District 28 (Seletar) terraces are on 99-year leasehold government land, with current remaining leases ranging from 55 to 75 years. Once remaining lease drops below 60 years, CPF usage for purchase is restricted and bank loan quantum is constrained — both factors narrow the future buyer pool and compress exit values. The Lease Decay Calculator quantifies the discount curve for leasehold assets at any remaining tenor. For a side-by-side tenure comparison using Singapore-specific transaction data, consult Freehold vs Leasehold — Detailed Analysis.
Government land supply and state acquisition exposure. Terrace estates in areas earmarked for MRT expansion, cross-island line infrastructure, or long-term land use intensification carry the residual risk of compulsory acquisition by the Singapore Land Authority under the Land Acquisition Act. While compensation is pegged to prevailing market value, the process is not negotiable and may not align with an owner’s timing preferences. The Cross Island Line Investment Guide maps affected corridors.
[
{
"persona": "multi-generational-family",
"fit_color": "green",
"reason": "Terrace houses offer the garden, ground-floor accessibility, and separate-bedroom count that multi-generational households need. The private outdoor space, absence of monthly maintenance fees, and land-ownership security make this the default upgrade destination for families where three generations intend to live under one roof."
},
{
"persona": "hdb-upgrader",
"fit_color": "green",
"reason": "The terrace is the most accessible rung of the landed ladder for HDB upgraders. After MOP and a HDB sale, proceeds combined with CPF and a landed home loan can cover an entry-tier District 19 or District 16 terrace. The HDB Upgrader Financial Planning guide and the TDSR Calculator are essential planning tools before making an offer."
},
{
"persona": "long-term-hold",
"fit_color": "green",
"reason": "Six-year psf CAGR of approximately 7.8% and structural landed supply scarcity make freehold terraces compelling 10–20-year hold vehicles. Land ownership in a city that cannot expand its footprint is a thesis that has delivered consistently for patient capital."
},
{
"persona": "foreign-absd-aware",
"fit_color": "amber",
"reason": "Foreigners face both LDAU approval (rarely granted) and 60% ABSD. Permanent residents can apply for LDAU approval and face 5% ABSD on a first purchase, but approval is not guaranteed. For most non-citizens, the condominium market is the practical path. If a PR is close to citizenship, waiting the final months to avoid ABSD entirely may be worth modelling."
},
{
"persona": "yield-focused-investor",
"fit_color": "red",
"reason": "Gross rental yields on Singapore terrace houses typically run 1.5%–2.5%, well below the carrying cost including mortgage, property tax, and maintenance. Terraces are capital-appreciation and lifestyle assets, not yield vehicles. Investors prioritising income return should look at strata-titled condominiums in high-demand rental corridors instead."
}
]
The Singapore terrace house in 2026 is neither undervalued nor wildly overpriced by historical standards. At S$2,155 psf island-wide (as of 2026-05) and an average transaction of S$4.65 million in early 2026 data, it sits at a price level that reflects six years of sustained appreciation, a structurally tight supply pipeline, and a policy environment that has been incrementally tightening since 2021 — yet has not broken demand. The market is not euphoric: year-on-year psf growth has decelerated from the +11% readings of 2022–2023 to a steadier +4%–+8% corridor, which is a healthier pace for genuine end-user buyers and long-term holders.
The strongest case for buying a terrace house today is as a primary residence for a citizen family with a 10+ year horizon. Freehold ownership of Singapore land in a city of fewer than 73,000 projected landed units over the next 15 years — against 500,000 projected condominium units in the same period, per industry estimates — is a scarcity thesis that is structurally intact. The weakest case is as a yield investment or a short-term flip: stamp duty drag, low gross yields, and a narrow buyer pool make sub-five-year strategies financially punishing for most buyers.
District selection matters enormously at this price point. Buyers with school-zone priorities should examine Districts 10, 11, 15, 20, and 21 where the psf premium reflects proximity to top primary schools within the 1 km registration band. Buyers optimising for land area per dollar spent should look at Districts 16, 17, 18, 27, and 28, where average transaction prices of S$2.5 million–S$3.6 million still buy genuine land-titled terraces with private gardens. Consult the District 10, District 15, and District 19 landed district reports for granular sub-district analysis. For a head-to-head financial comparison against purchasing a large condominium in the same price band, the Landed vs Condo Calculator builds a decade-long net cost model inclusive of stamp duty, maintenance, and estimated capital gain. The Landed Analytics Hub provides live psf and transaction-volume tracking across all terrace sub-types and planning areas.
Frequently Asked Questions
How much does a Terrace Houses cost in Singapore?
Which districts have the most Terrace Houses transactions?
Methodology & Sources
This analysis covers All available data and refreshes One-time (regenerated on demand).
Transaction data sourced from URA REALIS.
- Transaction data from URA REALIS
- Property types: Terrace, Strata Terrace
- Island-wide coverage across all 28 districts
- Prices in Singapore Dollars (SGD)
- PSF = price per square foot
Median values used to minimise outlier impact. PSF = price per square foot.