- 32,673 condo sales in 2021, segmented by 102 lease tenure types.
- Freehold tenure dominated with 10,055 transactions.
- Freehold properties commanded a 12.9% PSF premium over 99-year leasehold.
- Freehold average PSF was $1,785 psf vs $1,581 psf for 99-year leasehold.
Overview
An analysis of 2021 Singapore condo sales segmented by lease tenure. Tenure is one of the most important pricing factors: freehold and 999-year properties typically command significant premiums over 99-year leasehold equivalents. This report quantifies that gap using 32,673 recorded transactions.
Sales by Lease Tenure
| Tenure | Transactions | Share | Avg PSF | Avg Price | Avg Size (sqft) |
|---|---|---|---|---|---|
| Freehold | 10,055 | 30.8% | $1,785 psf | $3,474,322 | 1,989 |
| 99 yrs lease commencing from 2018 | 3,790 | 11.6% | $1,683 psf | $1,554,815 | 945 |
| 99 yrs lease commencing from 2019 | 2,893 | 8.9% | $1,934 psf | $1,733,686 | 940 |
| 99 yrs lease commencing from 2020 | 1,693 | 5.2% | $1,658 psf | $1,399,444 | 895 |
| 99 yrs lease commencing from 2012 | 1,691 | 5.2% | $1,182 psf | $1,203,312 | 1,051 |
| 99 yrs lease commencing from 2011 | 1,502 | 4.6% | $1,304 psf | $1,335,017 | 1,020 |
| 99 yrs lease commencing from 2021 | 1,076 | 3.3% | $2,368 psf | $1,870,402 | 795 |
| 99 yrs lease commencing from 2010 | 909 | 2.8% | $1,162 psf | $1,268,887 | 1,145 |
| 99 yrs lease commencing from 2013 | 692 | 2.1% | $1,332 psf | $1,286,449 | 1,005 |
| 99 yrs lease commencing from 1997 | 615 | 1.9% | $962 psf | $1,331,211 | 1,409 |
| 99 yrs lease commencing from 2014 | 552 | 1.7% | $1,421 psf | $1,069,794 | 760 |
| 99 yrs lease commencing from 2008 | 525 | 1.6% | $1,223 psf | $1,519,737 | 1,267 |
| 99 yrs lease commencing from 1996 | 484 | 1.5% | $922 psf | $1,325,892 | 1,464 |
| 99 yrs lease commencing from 2017 | 433 | 1.3% | $1,895 psf | $1,812,867 | 1,059 |
| 999 yrs lease commencing from 1885 | 413 | 1.3% | $1,648 psf | $2,248,795 | 1,477 |
| 99 yrs lease commencing from 1995 | 413 | 1.3% | $969 psf | $1,526,804 | 1,628 |
| 99 yrs lease commencing from 2015 | 340 | 1.0% | $1,534 psf | $1,168,671 | 774 |
| 99 yrs lease commencing from 2000 | 330 | 1.0% | $899 psf | $1,156,557 | 1,317 |
| 99 yrs lease commencing from 2007 | 328 | 1.0% | $1,506 psf | $2,753,498 | 1,685 |
| 99 yrs lease commencing from 1994 | 293 | 0.9% | $1,055 psf | $1,866,358 | 1,820 |
| 99 yrs lease commencing from 2006 | 279 | 0.9% | $1,516 psf | $2,506,500 | 1,659 |
| 99 yrs lease commencing from 2016 | 261 | 0.8% | $1,903 psf | $1,765,611 | 906 |
| 99 yrs lease commencing from 1993 | 221 | 0.7% | $1,043 psf | $1,331,684 | 1,305 |
| 99 yrs lease commencing from 2009 | 219 | 0.7% | $1,332 psf | $1,597,254 | 1,250 |
| 99 yrs lease commencing from 2001 | 214 | 0.7% | $985 psf | $1,431,577 | 1,522 |
| 99 yrs lease commencing from 2002 | 197 | 0.6% | $1,378 psf | $1,421,721 | 1,095 |
| 99 yrs lease commencing from 2005 | 175 | 0.5% | $1,551 psf | $3,241,047 | 1,965 |
| 99 yrs lease commencing from 1991 | 167 | 0.5% | $1,053 psf | $1,313,734 | 1,262 |
| 99 yrs lease commencing from 2004 | 161 | 0.5% | $1,292 psf | $1,679,561 | 1,396 |
| 99 yrs lease commencing from 1998 | 158 | 0.5% | $1,058 psf | $1,359,353 | 1,291 |
| 999 yrs lease commencing from 1879 | 117 | 0.4% | $1,401 psf | $5,113,222 | 3,809 |
| 99 yrs lease commencing from 1992 | 90 | 0.3% | $841 psf | $1,227,282 | 1,455 |
| 956 yrs lease commencing from 1928 | 81 | 0.2% | $1,342 psf | $2,199,417 | 1,720 |
| 999 yrs lease commencing from 1877 | 81 | 0.2% | $1,710 psf | $2,137,395 | 1,305 |
| 99 yrs lease commencing from 1999 | 80 | 0.2% | $1,556 psf | $2,053,147 | 1,366 |
| 99 yrs lease commencing from 1982 | 80 | 0.2% | $1,054 psf | $1,378,897 | 1,328 |
| 999 yrs lease commencing from 1875 | 77 | 0.2% | $1,654 psf | $5,584,751 | 3,487 |
| 999 yrs lease commencing from 1882 | 75 | 0.2% | $1,267 psf | $1,952,383 | 1,566 |
| 999 yrs lease commencing from 1886 | 64 | 0.2% | $1,188 psf | $3,416,136 | 3,009 |
| 999 yrs lease commencing from 1876 | 58 | 0.2% | $1,433 psf | $5,622,205 | 3,762 |
| 999 yrs lease commencing from 1883 | 58 | 0.2% | $1,389 psf | $2,869,966 | 2,017 |
| 999 yrs lease commencing from 1841 | 55 | 0.2% | $1,959 psf | $2,258,431 | 1,187 |
| 999 yrs lease commencing from 1878 | 52 | 0.2% | $1,188 psf | $2,742,173 | 2,484 |
| 999 yrs lease commencing from 1955 | 46 | 0.1% | $1,490 psf | $4,352,191 | 3,015 |
| 103 yrs lease commencing from 2009 | 34 | 0.1% | $1,536 psf | $1,594,461 | 1,205 |
| 999 yrs lease commencing from 1954 | 34 | 0.1% | $1,457 psf | $3,954,170 | 2,758 |
| 99 yrs lease commencing from 2003 | 34 | 0.1% | $1,071 psf | $1,360,332 | 1,304 |
| 99 yrs lease commencing from 1975 | 32 | 0.1% | $910 psf | $1,708,497 | 1,929 |
| 999 yrs lease commencing from 1956 | 26 | 0.1% | $1,554 psf | $4,088,585 | 2,727 |
| 999 yrs lease commencing from 1884 | 26 | 0.1% | $1,455 psf | $2,944,538 | 2,209 |
| 99 yrs lease commencing from 1984 | 24 | 0.1% | $995 psf | $1,672,391 | 1,688 |
| 99 yrs lease commencing from 1977 | 22 | 0.1% | $1,012 psf | $1,768,199 | 1,753 |
| 99 yrs lease commencing from 1979 | 22 | 0.1% | $1,102 psf | $3,496,500 | 3,369 |
| 99 yrs lease commencing from 1976 | 21 | 0.1% | $865 psf | $1,091,198 | 1,270 |
| 946 yrs lease commencing from 1938 | 21 | 0.1% | $810 psf | $1,482,242 | 2,110 |
| 99 yrs lease commencing from 1968 | 20 | 0.1% | $1,071 psf | $822,479 | 820 |
| 999 yrs lease commencing from 1953 | 20 | 0.1% | $1,476 psf | $5,761,390 | 4,114 |
| 60 yrs lease commencing from 2013 | 17 | 0.1% | $1,197 psf | $574,288 | 484 |
| 99 yrs lease commencing from 1990 | 15 | 0.0% | $1,310 psf | $2,301,067 | 1,620 |
| 103 yrs lease commencing from 2002 | 13 | 0.0% | $1,509 psf | $1,734,068 | 1,181 |
| 999 yrs lease commencing from 1874 | 13 | 0.0% | $1,144 psf | $4,514,530 | 4,253 |
| 999 yrs lease commencing from 1995 | 12 | 0.0% | $2,539 psf | $8,675,667 | 3,441 |
| 99 yrs lease commencing from 1978 | 11 | 0.0% | $707 psf | $1,938,000 | 2,801 |
| 103 yrs lease commencing from 2013 | 11 | 0.0% | $892 psf | $2,532,593 | 2,839 |
| 999 yrs lease commencing from 1881 | 11 | 0.0% | $1,284 psf | $3,270,636 | 2,674 |
| 99 yrs lease commencing from 1970 | 10 | 0.0% | $978 psf | $1,104,569 | 1,194 |
| 929 yrs lease commencing from 1953 | 9 | 0.0% | $1,821 psf | $2,237,210 | 1,252 |
| 99 yrs lease commencing from 1980 | 9 | 0.0% | $1,284 psf | $1,455,333 | 1,198 |
| 946 yrs lease commencing from 1937 | 7 | 0.0% | $1,125 psf | $1,474,429 | 1,351 |
| 99 yrs lease commencing from 1965 | 7 | 0.0% | $532 psf | $1,842,929 | 3,746 |
| 999 yrs lease commencing from 1827 | 7 | 0.0% | $1,892 psf | $3,967,143 | 2,330 |
| 102 yrs lease commencing from 1996 | 7 | 0.0% | $1,405 psf | $3,571,714 | 2,543 |
| 947 yrs lease commencing from 1934 | 7 | 0.0% | $1,098 psf | $1,870,966 | 1,716 |
| 103 yrs lease commencing from 1974 | 6 | 0.0% | $964 psf | $1,846,383 | 1,916 |
| 100 yrs lease commencing from 1986 | 6 | 0.0% | $931 psf | $1,601,333 | 1,722 |
| 103 yrs lease commencing from 2008 | 6 | 0.0% | $961 psf | $2,958,000 | 3,082 |
| 103 yrs lease commencing from 2010 | 5 | 0.0% | $2,171 psf | $1,844,000 | 840 |
| 99 yrs lease commencing from 1973 | 5 | 0.0% | $1,011 psf | $859,400 | 850 |
| 70 yrs lease commencing from 1964 | 5 | 0.0% | $173 psf | $541,000 | 3,108 |
| 102 yrs lease commencing from 1978 | 5 | 0.0% | $868 psf | $1,335,760 | 1,539 |
| 947 yrs lease commencing from 1937 | 4 | 0.0% | $1,483 psf | $1,420,750 | 969 |
| 99 yrs lease commencing from 1947 | 4 | 0.0% | $242 psf | $682,500 | 2,810 |
| 103 yrs lease commencing from 1975 | 3 | 0.0% | $929 psf | $1,500,000 | 1,615 |
| 103 yrs lease commencing from 1977 | 3 | 0.0% | $960 psf | $1,658,333 | 1,726 |
| 999 yrs lease commencing from 1991 | 3 | 0.0% | $2,020 psf | $7,053,333 | 4,928 |
| 998 yrs lease commencing from 1885 | 2 | 0.0% | $1,368 psf | $1,472,500 | 1,076 |
| 99 yrs lease commencing from 1949 | 2 | 0.0% | $228 psf | $909,000 | 3,977 |
| 99 yrs lease commencing from 1983 | 2 | 0.0% | $605 psf | $1,926,344 | 3,191 |
| 99 yrs lease commencing from 1954 | 2 | 0.0% | $568 psf | $1,850,000 | 3,255 |
| 99 yrs lease commencing from 1981 | 2 | 0.0% | $660 psf | $1,327,500 | 2,013 |
| 99 yrs lease commencing from 1952 | 2 | 0.0% | $387 psf | $815,000 | 2,284 |
| 99 yrs lease commencing from 1972 | 1 | 0.0% | $597 psf | $2,250,000 | 3,772 |
| 945 yrs lease commencing from 1936 | 1 | 0.0% | $1,667 psf | $2,738,000 | 1,643 |
| 9999 yrs lease commencing from 1995 | 1 | 0.0% | $1,394 psf | $840,000 | 603 |
| 999 yrs lease commencing from 1959 | 1 | 0.0% | $1,851 psf | $3,700,000 | 1,999 |
| 953 yrs lease commencing from 1931 | 1 | 0.0% | $708 psf | $14,950,000 | 21,120 |
| 999 yrs lease commencing from 1989 | 1 | 0.0% | $958 psf | $1,340,000 | 1,399 |
| 99 yrs lease commencing from 1950 | 1 | 0.0% | $291 psf | $2,575,000 | 8,855 |
| 110 yrs lease commencing from 2017 | 1 | 0.0% | $2,091 psf | $1,643,192 | 786 |
| 60 yrs lease commencing from 1977 | 1 | 0.0% | $280 psf | $340,000 | 1,216 |
| 93 yrs lease commencing from 1979 | 1 | 0.0% | $1,021 psf | $868,000 | 850 |
| 993 yrs lease commencing from 1973 | 1 | 0.0% | $1,581 psf | $2,280,000 | 1,442 |
Market Commentary
In 2021, tenure remained a decisive factor in condo pricing. Freehold properties commanded a 12.9% PSF premium over 99-year leasehold units. While freehold properties hold their value better over the long term, 99-year leasehold units offer lower entry points and can deliver strong returns when purchased early in their lease cycle.
Buyers should consider remaining lease years relative to their investment horizon. A 99-year property with 80+ years remaining may offer comparable value to freehold in a high-growth district. Use the Mortgage Calculator to model monthly payments across tenure types.
Key Events
Editorial analysis for this section is being prepared.
Frequently Asked Questions
How much more do freehold condos cost compared to leasehold in 2021?
Freehold and 999-year condos typically trade at a significant PSF premium over 99-year leasehold properties. In 2021, this premium was approximately 12.9%. The premium varies by location and property age.
Is it better to buy a freehold or 99-year leasehold condo?
Freehold condos hold value better long-term, but 99-year leasehold properties offer lower entry prices and can still appreciate strongly if purchased early in the lease cycle. Your investment horizon and budget are the key deciding factors.
What lease tenure types are available for Singapore condos?
The main tenure types are 99-year leasehold (most common), 999-year leasehold (effectively perpetual), and freehold. Some older properties may have shorter remaining leases. In 2021, 102 distinct tenure categories were recorded across 32,673 transactions.
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Methodology & Sources
This analysis covers the specified calendar year and is updated 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 REALIS.
Median values used to minimize outlier impact. PSF = price per square foot.