For: InvestorsHDB upgraders
Source: URA REALIS
TL;DR
Singapore condo sales by lease tenure (2022): 26,284 transactions. Freehold most popular.
Key Takeaways
- 26,284 condo sales in 2022, segmented by tenure type.
- Freehold tenure dominated with 8,192 transactions.
- Freehold properties commanded a 60.4% PSF premium over 99-year leasehold.
Overview
Analysis of 2022 condo sales broken down by lease tenure, covering 26,284 transactions.
Sales by Lease Tenure
| Tenure | Transactions | Share | Avg PSF | Avg Price | YoY PSF Change |
|---|---|---|---|---|---|
| Freehold | 8,192 | 31.2% | $1,954 psf | $3,171,243 | ↑ 9.7% |
| 99 yrs lease commencing from 2021 | 2,841 | 10.8% | $1,843 psf | $1,787,413 | ↓ 22.1% |
| 99 yrs lease commencing from 2018 | 1,701 | 6.5% | $2,094 psf | $1,922,315 | ↑ 24.3% |
| 99 yrs lease commencing from 2012 | 1,308 | 5.0% | $1,323 psf | $1,292,658 | ↑ 12.1% |
| 99 yrs lease commencing from 2013 | 1,175 | 4.5% | $1,372 psf | $1,344,532 | ↑ 3.0% |
| 99 yrs lease commencing from 2011 | 1,129 | 4.3% | $1,410 psf | $1,456,576 | ↑ 8.0% |
| 99 yrs lease commencing from 2019 | 1,075 | 4.1% | $2,119 psf | $2,210,364 | ↑ 9.4% |
| 99 yrs lease commencing from 2010 | 923 | 3.5% | $1,337 psf | $1,431,161 | ↑ 11.8% |
| 99 yrs lease commencing from 2014 | 811 | 3.1% | $1,424 psf | $1,180,628 | ↑ 0.2% |
| 99 yrs lease commencing from 2008 | 523 | 2.0% | $1,452 psf | $1,787,888 | ↑ 16.9% |
| 99 yrs lease commencing from 2020 | 517 | 2.0% | $1,827 psf | $1,731,775 | ↑ 10.2% |
| 99 yrs lease commencing from 1997 | 486 | 1.8% | $1,088 psf | $1,498,800 | ↑ 13.2% |
| 99 yrs lease commencing from 2015 | 400 | 1.5% | $1,645 psf | $1,208,374 | ↑ 7.0% |
| 99 yrs lease commencing from 1996 | 396 | 1.5% | $1,057 psf | $1,488,766 | ↑ 14.8% |
| 99 yrs lease commencing from 2017 | 318 | 1.2% | $1,946 psf | $1,994,739 | ↑ 2.4% |
| 99 yrs lease commencing from 1995 | 312 | 1.2% | $1,060 psf | $1,643,200 | ↑ 9.3% |
| 99 yrs lease commencing from 2007 | 262 | 1.0% | $1,590 psf | $2,934,160 | ↑ 5.5% |
| 99 yrs lease commencing from 2000 | 253 | 1.0% | $1,006 psf | $1,247,914 | ↑ 11.9% |
| 99 yrs lease commencing from 2022 | 244 | 0.9% | $2,112 psf | $1,787,533 | -- |
| 99 yrs lease commencing from 1994 | 241 | 0.9% | $1,163 psf | $2,207,877 | ↑ 10.2% |
| 99 yrs lease commencing from 2006 | 238 | 0.9% | $1,590 psf | $2,777,598 | ↑ 4.3% |
| 999 yrs lease commencing from 1885 | 216 | 0.8% | $1,709 psf | $2,432,378 | ↑ 3.6% |
| 99 yrs lease commencing from 2016 | 208 | 0.8% | $1,818 psf | $1,510,379 | ↓ 4.7% |
| 99 yrs lease commencing from 2009 | 200 | 0.8% | $1,398 psf | $1,632,368 | ↑ 4.8% |
| 99 yrs lease commencing from 1993 | 199 | 0.8% | $1,156 psf | $1,500,940 | ↑ 10.8% |
| 99 yrs lease commencing from 2001 | 194 | 0.7% | $1,187 psf | $1,623,561 | ↑ 15.9% |
| 99 yrs lease commencing from 2002 | 176 | 0.7% | $1,366 psf | $1,523,276 | ↓ 1.1% |
| 99 yrs lease commencing from 2004 | 143 | 0.5% | $1,376 psf | $1,865,171 | ↑ 6.6% |
| 99 yrs lease commencing from 2005 | 135 | 0.5% | $1,623 psf | $2,920,450 | ↑ 4.4% |
| 99 yrs lease commencing from 1991 | 129 | 0.5% | $1,143 psf | $1,464,027 | ↑ 8.5% |
| 99 yrs lease commencing from 1998 | 124 | 0.5% | $1,173 psf | $1,498,523 | ↑ 10.8% |
| 999 yrs lease commencing from 1877 | 74 | 0.3% | $1,944 psf | $2,485,009 | ↑ 13.7% |
| 999 yrs lease commencing from 1879 | 63 | 0.2% | $1,463 psf | $5,054,524 | ↑ 4.6% |
| 99 yrs lease commencing from 1982 | 61 | 0.2% | $1,138 psf | $1,631,569 | ↑ 7.4% |
| 999 yrs lease commencing from 1883 | 58 | 0.2% | $1,516 psf | $2,833,131 | ↑ 7.8% |
| 999 yrs lease commencing from 1882 | 56 | 0.2% | $1,393 psf | $1,682,294 | ↑ 9.6% |
| 99 yrs lease commencing from 1992 | 54 | 0.2% | $985 psf | $1,286,722 | ↑ 16.1% |
| 999 yrs lease commencing from 1841 | 52 | 0.2% | $2,241 psf | $1,885,152 | ↑ 14.2% |
| 99 yrs lease commencing from 1999 | 50 | 0.2% | $1,664 psf | $2,227,060 | ↑ 6.9% |
| 999 yrs lease commencing from 1876 | 42 | 0.2% | $1,664 psf | $3,989,738 | ↑ 14.6% |
| 956 yrs lease commencing from 1928 | 41 | 0.2% | $1,394 psf | $2,214,935 | ↑ 3.4% |
| 99 yrs lease commencing from 2003 | 38 | 0.1% | $1,257 psf | $1,607,246 | ↑ 17.0% |
| 103 yrs lease commencing from 2009 | 38 | 0.1% | $1,443 psf | $1,924,134 | ↓ 6.0% |
| 999 yrs lease commencing from 1875 | 37 | 0.1% | $1,817 psf | $4,522,528 | ↑ 11.0% |
| 99 yrs lease commencing from 1977 | 35 | 0.1% | $1,113 psf | $9,702,165 | ↑ 10.0% |
| 999 yrs lease commencing from 1886 | 33 | 0.1% | $1,199 psf | $4,639,940 | ↑ 0.1% |
| 999 yrs lease commencing from 1878 | 32 | 0.1% | $1,467 psf | $2,737,594 | ↑ 21.8% |
| 999 yrs lease commencing from 1955 | 29 | 0.1% | $1,880 psf | $5,313,448 | ↑ 26.2% |
| 60 yrs lease commencing from 2013 | 28 | 0.1% | $1,295 psf | $604,217 | ↑ 7.8% |
| 99 yrs lease commencing from 1976 | 24 | 0.1% | $948 psf | $12,055,917 | ↑ 8.9% |
| 999 yrs lease commencing from 1954 | 22 | 0.1% | $1,635 psf | $4,775,045 | ↑ 12.6% |
| 99 yrs lease commencing from 1975 | 21 | 0.1% | $1,033 psf | $1,768,238 | ↑ 13.5% |
| 99 yrs lease commencing from 1968 | 21 | 0.1% | $1,112 psf | $1,000,132 | ↑ 5.3% |
| 946 yrs lease commencing from 1938 | 19 | 0.1% | $936 psf | $1,622,626 | ↑ 15.6% |
| 99 yrs lease commencing from 1984 | 19 | 0.1% | $1,054 psf | $1,765,684 | ↑ 5.9% |
| 999 yrs lease commencing from 1884 | 17 | 0.1% | $1,713 psf | $2,902,170 | ↑ 17.8% |
| 100 yrs lease commencing from 1986 | 16 | 0.1% | $1,023 psf | $1,726,688 | ↑ 9.8% |
| 103 yrs lease commencing from 2013 | 15 | 0.1% | $991 psf | $3,002,647 | ↑ 11.1% |
| 102 yrs lease commencing from 1978 | 13 | 0.0% | $945 psf | $1,631,299 | ↑ 8.9% |
| 103 yrs lease commencing from 2002 | 13 | 0.0% | $1,500 psf | $1,843,846 | ↓ 0.7% |
| 99 yrs lease commencing from 1970 | 12 | 0.0% | $1,063 psf | $1,300,333 | ↑ 8.6% |
| 999 yrs lease commencing from 1956 | 11 | 0.0% | $1,642 psf | $4,314,545 | ↑ 5.7% |
| 99 yrs lease commencing from 1990 | 10 | 0.0% | $1,095 psf | $1,565,800 | ↓ 16.4% |
| 99 yrs lease commencing from 1973 | 10 | 0.0% | $1,142 psf | $1,217,600 | ↑ 13.0% |
| 99 yrs lease commencing from 1979 | 10 | 0.0% | $1,095 psf | $3,761,000 | ↓ 0.7% |
| 999 yrs lease commencing from 1953 | 9 | 0.0% | $1,479 psf | $6,014,533 | ↑ 0.2% |
| 946 yrs lease commencing from 1937 | 9 | 0.0% | $1,195 psf | $2,935,533 | ↑ 6.3% |
| 999 yrs lease commencing from 1874 | 9 | 0.0% | $1,179 psf | $7,055,333 | ↑ 3.1% |
| 99 yrs lease commencing from 1983 | 9 | 0.0% | $857 psf | $1,245,210 | ↑ 41.7% |
| 99 yrs lease commencing from 1947 | 8 | 0.0% | $304 psf | $1,140,861 | ↑ 25.7% |
| 999 yrs lease commencing from 1881 | 8 | 0.0% | $1,205 psf | $3,775,000 | ↓ 6.2% |
| 102 yrs lease commencing from 1996 | 8 | 0.0% | $1,459 psf | $4,215,000 | ↑ 3.8% |
| 70 yrs lease commencing from 1964 | 8 | 0.0% | $199 psf | $617,750 | ↑ 15.1% |
| 999 yrs lease commencing from 1827 | 6 | 0.0% | $2,018 psf | $2,026,667 | ↑ 6.6% |
| 99 yrs lease commencing from 1980 | 6 | 0.0% | $1,476 psf | $149,777,500 | ↑ 14.9% |
| 999 yrs lease commencing from 1995 | 5 | 0.0% | $2,530 psf | $6,329,778 | ↓ 0.3% |
| 110 yrs lease commencing from 2017 | 5 | 0.0% | $2,265 psf | $1,462,712 | ↑ 8.3% |
| 99 yrs lease commencing from 1965 | 4 | 0.0% | $593 psf | $1,647,500 | ↑ 11.5% |
| 953 yrs lease commencing from 1931 | 4 | 0.0% | $1,511 psf | $6,795,000 | ↑ 113.4% |
| 103 yrs lease commencing from 1977 | 4 | 0.0% | $1,000 psf | $1,736,194 | ↑ 4.2% |
| 947 yrs lease commencing from 1934 | 3 | 0.0% | $1,337 psf | $1,743,333 | ↑ 21.8% |
| 929 yrs lease commencing from 1953 | 3 | 0.0% | $1,912 psf | $2,655,000 | ↑ 5.0% |
| 103 yrs lease commencing from 1974 | 3 | 0.0% | $1,053 psf | $2,017,667 | ↑ 9.3% |
| 103 yrs lease commencing from 2008 | 3 | 0.0% | $1,091 psf | $3,260,000 | ↑ 13.5% |
| 103 yrs lease commencing from 1975 | 3 | 0.0% | $1,047 psf | $1,639,333 | ↑ 12.7% |
| 99 yrs lease commencing from 1952 | 2 | 0.0% | $368 psf | $1,320,000 | ↓ 5.0% |
| 9999 yrs lease commencing from 1961 | 2 | 0.0% | $1,161 psf | $1,260,000 | -- |
| 85 yrs lease commencing from 1990 | 2 | 0.0% | $858 psf | $1,136,500 | -- |
| 103 yrs lease commencing from 2011 | 2 | 0.0% | $1,283 psf | $4,074,500 | -- |
| 993 yrs lease commencing from 1973 | 2 | 0.0% | $1,830 psf | $2,640,000 | ↑ 15.8% |
| 999 yrs lease commencing from 1991 | 2 | 0.0% | $1,493 psf | $8,040,000 | ↓ 26.1% |
| 99 yrs lease commencing from 1978 | 2 | 0.0% | $748 psf | $2,540,000 | ↑ 5.8% |
| 940 yrs lease commencing from 1941 | 2 | 0.0% | $2,188 psf | $3,808,888 | -- |
| 99 yrs lease commencing from 1969 | 1 | 0.0% | $1,801 psf | $950,000 | -- |
| 947 yrs lease commencing from 1937 | 1 | 0.0% | $1,568 psf | $1,890,000 | ↑ 9.0% |
| 9999 yrs lease commencing from 2004 | 1 | 0.0% | $1,253 psf | $1,430,000 | -- |
| 998 yrs lease commencing from 1885 | 1 | 0.0% | $1,486 psf | $1,600,000 | ↑ 8.7% |
| 103 yrs lease commencing from 2010 | 1 | 0.0% | $1,980 psf | $1,300,000 | ↓ 8.8% |
| 999999 yrs lease commencing from 1990 | 1 | 0.0% | $921 psf | $1,210,000 | -- |
| 999 yrs lease commencing from 1826 | 1 | 0.0% | $5,695 psf | $6,130,000 | -- |
| 999 yrs lease commencing from 1976 | 1 | 0.0% | $1,218 psf | $1,180,000 | -- |
Freehold Premium
Freehold properties traded at a 60.4% PSF premium over 99-year leasehold in 2022.
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 ~60.4% in 2022.
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.