For: InvestorsHDB upgraders
Source: URA REALIS
TL;DR
Singapore condo sales by lease tenure (2021): 32,264 transactions. Freehold most popular.
Key Takeaways
- 32,264 condo sales in 2021, segmented by tenure type.
- Freehold tenure dominated with 9,916 transactions.
- Freehold properties commanded a 512.8% PSF premium over 99-year leasehold.
Overview
Analysis of 2021 condo sales broken down by lease tenure, covering 32,264 transactions.
Sales by Lease Tenure
| Tenure | Transactions | Share | Avg PSF | Avg Price |
|---|---|---|---|---|
| Freehold | 9,916 | 30.7% | $1,782 psf | $3,465,992 |
| 99 yrs lease commencing from 2018 | 3,701 | 11.5% | $1,684 psf | $1,559,305 |
| 99 yrs lease commencing from 2019 | 2,825 | 8.8% | $1,938 psf | $1,735,343 |
| 99 yrs lease commencing from 2020 | 1,693 | 5.2% | $1,658 psf | $1,399,444 |
| 99 yrs lease commencing from 2012 | 1,681 | 5.2% | $1,181 psf | $1,211,674 |
| 99 yrs lease commencing from 2011 | 1,482 | 4.6% | $1,306 psf | $1,343,368 |
| 99 yrs lease commencing from 2021 | 1,079 | 3.3% | $2,367 psf | $1,881,759 |
| 99 yrs lease commencing from 2010 | 989 | 3.1% | $1,195 psf | $1,317,321 |
| 99 yrs lease commencing from 2013 | 681 | 2.1% | $1,332 psf | $1,287,381 |
| 99 yrs lease commencing from 1997 | 608 | 1.9% | $961 psf | $1,344,230 |
| 99 yrs lease commencing from 2014 | 543 | 1.7% | $1,421 psf | $1,065,440 |
| 99 yrs lease commencing from 2008 | 530 | 1.6% | $1,242 psf | $1,517,151 |
| 99 yrs lease commencing from 1996 | 468 | 1.5% | $921 psf | $1,326,203 |
| 99 yrs lease commencing from 2017 | 415 | 1.3% | $1,900 psf | $1,814,056 |
| 99 yrs lease commencing from 1995 | 406 | 1.3% | $970 psf | $1,527,528 |
| 999 yrs lease commencing from 1885 | 402 | 1.2% | $1,650 psf | $2,250,111 |
| 99 yrs lease commencing from 2015 | 334 | 1.0% | $1,537 psf | $1,169,103 |
| 99 yrs lease commencing from 2007 | 319 | 1.0% | $1,507 psf | $2,754,976 |
| 99 yrs lease commencing from 2000 | 316 | 1.0% | $899 psf | $1,156,189 |
| 99 yrs lease commencing from 1994 | 288 | 0.9% | $1,055 psf | $1,869,979 |
| 99 yrs lease commencing from 2006 | 270 | 0.8% | $1,524 psf | $2,457,843 |
| 99 yrs lease commencing from 2016 | 253 | 0.8% | $1,908 psf | $1,759,142 |
| 99 yrs lease commencing from 2001 | 226 | 0.7% | $1,025 psf | $1,486,847 |
| 99 yrs lease commencing from 1993 | 216 | 0.7% | $1,044 psf | $1,334,881 |
| 99 yrs lease commencing from 2009 | 214 | 0.7% | $1,335 psf | $1,594,186 |
| 99 yrs lease commencing from 2002 | 193 | 0.6% | $1,381 psf | $1,426,109 |
| 99 yrs lease commencing from 2005 | 169 | 0.5% | $1,555 psf | $3,286,694 |
| 99 yrs lease commencing from 1991 | 160 | 0.5% | $1,054 psf | $1,319,267 |
| 99 yrs lease commencing from 1998 | 157 | 0.5% | $1,058 psf | $1,359,222 |
| 99 yrs lease commencing from 2004 | 156 | 0.5% | $1,291 psf | $1,687,752 |
| 999 yrs lease commencing from 1879 | 116 | 0.4% | $1,399 psf | $5,112,259 |
| 99 yrs lease commencing from 1992 | 87 | 0.3% | $848 psf | $1,204,430 |
| 999 yrs lease commencing from 1875 | 81 | 0.3% | $1,638 psf | $5,316,714 |
| 999 yrs lease commencing from 1877 | 81 | 0.3% | $1,710 psf | $2,137,395 |
| 99 yrs lease commencing from 1999 | 80 | 0.2% | $1,556 psf | $2,053,147 |
| 956 yrs lease commencing from 1928 | 79 | 0.2% | $1,348 psf | $2,207,123 |
| 99 yrs lease commencing from 1982 | 76 | 0.2% | $1,059 psf | $1,357,155 |
| 999 yrs lease commencing from 1882 | 73 | 0.2% | $1,271 psf | $1,941,230 |
| 999 yrs lease commencing from 1886 | 62 | 0.2% | $1,198 psf | $3,366,737 |
| 999 yrs lease commencing from 1883 | 60 | 0.2% | $1,406 psf | $2,907,633 |
| 999 yrs lease commencing from 1876 | 56 | 0.2% | $1,452 psf | $5,719,962 |
| 999 yrs lease commencing from 1841 | 53 | 0.2% | $1,963 psf | $2,242,145 |
| 999 yrs lease commencing from 1878 | 49 | 0.2% | $1,205 psf | $2,799,653 |
| 999 yrs lease commencing from 1955 | 46 | 0.1% | $1,490 psf | $4,352,191 |
| 103 yrs lease commencing from 2009 | 34 | 0.1% | $1,536 psf | $1,594,461 |
| 99 yrs lease commencing from 2003 | 33 | 0.1% | $1,074 psf | $1,361,554 |
| 999 yrs lease commencing from 1954 | 32 | 0.1% | $1,451 psf | $3,993,493 |
| 99 yrs lease commencing from 1975 | 32 | 0.1% | $910 psf | $1,708,497 |
| 999 yrs lease commencing from 1956 | 26 | 0.1% | $1,554 psf | $4,088,585 |
| 999 yrs lease commencing from 1884 | 26 | 0.1% | $1,455 psf | $2,944,538 |
| 99 yrs lease commencing from 1968 | 25 | 0.1% | $1,056 psf | $822,303 |
| 99 yrs lease commencing from 1984 | 23 | 0.1% | $996 psf | $1,671,191 |
| 99 yrs lease commencing from 1977 | 22 | 0.1% | $1,012 psf | $1,768,199 |
| 99 yrs lease commencing from 1979 | 22 | 0.1% | $1,102 psf | $3,496,500 |
| 946 yrs lease commencing from 1938 | 21 | 0.1% | $810 psf | $1,482,242 |
| 999 yrs lease commencing from 1953 | 20 | 0.1% | $1,476 psf | $5,761,390 |
| 99 yrs lease commencing from 1976 | 19 | 0.1% | $870 psf | $1,087,113 |
| 60 yrs lease commencing from 2013 | 16 | 0.0% | $1,201 psf | $564,056 |
| 99 yrs lease commencing from 1990 | 15 | 0.0% | $1,310 psf | $2,301,067 |
| 999 yrs lease commencing from 1874 | 13 | 0.0% | $1,144 psf | $4,514,530 |
| 999 yrs lease commencing from 1995 | 12 | 0.0% | $2,539 psf | $8,675,667 |
| 103 yrs lease commencing from 2002 | 12 | 0.0% | $1,511 psf | $1,771,907 |
| 99 yrs lease commencing from 1978 | 11 | 0.0% | $707 psf | $1,938,000 |
| 999 yrs lease commencing from 1881 | 11 | 0.0% | $1,284 psf | $3,270,636 |
| 103 yrs lease commencing from 2013 | 11 | 0.0% | $892 psf | $2,532,593 |
| 99 yrs lease commencing from 1970 | 10 | 0.0% | $978 psf | $1,104,569 |
| 99 yrs lease commencing from 1980 | 9 | 0.0% | $1,284 psf | $1,455,333 |
| 929 yrs lease commencing from 1953 | 9 | 0.0% | $1,821 psf | $2,237,210 |
| 102 yrs lease commencing from 1996 | 7 | 0.0% | $1,405 psf | $3,571,714 |
| 946 yrs lease commencing from 1937 | 7 | 0.0% | $1,125 psf | $1,474,429 |
| 999 yrs lease commencing from 1827 | 7 | 0.0% | $1,892 psf | $3,967,143 |
| 947 yrs lease commencing from 1934 | 7 | 0.0% | $1,098 psf | $1,870,966 |
| 99 yrs lease commencing from 1965 | 7 | 0.0% | $532 psf | $1,842,929 |
| 103 yrs lease commencing from 2008 | 6 | 0.0% | $961 psf | $2,958,000 |
| 103 yrs lease commencing from 1974 | 6 | 0.0% | $964 psf | $1,846,383 |
| 100 yrs lease commencing from 1986 | 6 | 0.0% | $931 psf | $1,601,333 |
| 102 yrs lease commencing from 1978 | 5 | 0.0% | $868 psf | $1,335,760 |
| 103 yrs lease commencing from 2010 | 5 | 0.0% | $2,171 psf | $1,844,000 |
| 99 yrs lease commencing from 1973 | 5 | 0.0% | $1,011 psf | $859,400 |
| 70 yrs lease commencing from 1964 | 5 | 0.0% | $173 psf | $541,000 |
| 99 yrs lease commencing from 1947 | 4 | 0.0% | $242 psf | $682,500 |
| 999 yrs lease commencing from 1991 | 3 | 0.0% | $2,020 psf | $7,053,333 |
| 947 yrs lease commencing from 1937 | 3 | 0.0% | $1,439 psf | $1,535,000 |
| 103 yrs lease commencing from 1975 | 3 | 0.0% | $929 psf | $1,500,000 |
| 103 yrs lease commencing from 1977 | 3 | 0.0% | $960 psf | $1,658,333 |
| 99 yrs lease commencing from 1983 | 2 | 0.0% | $605 psf | $1,926,344 |
| 99 yrs lease commencing from 1949 | 2 | 0.0% | $228 psf | $909,000 |
| 99 yrs lease commencing from 1952 | 2 | 0.0% | $387 psf | $815,000 |
| 998 yrs lease commencing from 1885 | 2 | 0.0% | $1,368 psf | $1,472,500 |
| 99 yrs lease commencing from 1981 | 2 | 0.0% | $660 psf | $1,327,500 |
| 999 yrs lease commencing from 1959 | 1 | 0.0% | $1,851 psf | $3,700,000 |
| 993 yrs lease commencing from 1973 | 1 | 0.0% | $1,581 psf | $2,280,000 |
| 9999 yrs lease commencing from 1995 | 1 | 0.0% | $1,394 psf | $840,000 |
| 945 yrs lease commencing from 1936 | 1 | 0.0% | $1,667 psf | $2,738,000 |
| 110 yrs lease commencing from 2017 | 1 | 0.0% | $2,091 psf | $1,643,192 |
| 999 yrs lease commencing from 1989 | 1 | 0.0% | $958 psf | $1,340,000 |
| 99 yrs lease commencing from 1954 | 1 | 0.0% | $568 psf | $1,850,000 |
| 953 yrs lease commencing from 1931 | 1 | 0.0% | $708 psf | $14,950,000 |
| 99 yrs lease commencing from 1972 | 1 | 0.0% | $597 psf | $2,250,000 |
| 93 yrs lease commencing from 1979 | 1 | 0.0% | $1,021 psf | $868,000 |
| 60 yrs lease commencing from 1977 | 1 | 0.0% | $280 psf | $340,000 |
| 99 yrs lease commencing from 1950 | 1 | 0.0% | $291 psf | $2,575,000 |
Freehold Premium
Freehold properties traded at a 512.8% PSF premium over 99-year leasehold in 2021.
Key Events
Editorial analysis for this section is being prepared.
Frequently Asked Questions
Is freehold or leasehold better value?
Freehold offers indefinite ownership but at a premium. Leasehold (99-year) offers lower entry prices and sufficient tenure for most buyers. The premium was ~512.8% in 2021.
Explore more market data and tools on ShiokNest.
Methodology & Sources
The dataset behind this report spans the specified calendar year; we refresh it annually.
Transaction data sourced from URA REALIS.
- Year-over-year (YoY) comparisons use the previous calendar year as baseline.
- Full transaction data sourced from URA.
Price-per-square-foot (PSF) here means the median deal in the period; means are reserved for volume-weighted aggregates explicitly labelled as such.