Key Takeaways
- 25,639 condo sales in 2024, segmented by 109 lease tenure types.
- Freehold tenure dominated with 6,371 transactions.
- Freehold properties commanded a 707.1% PSF premium over 99-year leasehold.
- Freehold average PSF was $2,014 psf vs $250 psf for 99-year leasehold.
Overview
An analysis of 2024 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 25,639 recorded transactions.
25,639
Total Sales
109
Tenure Types
+707.1%
Freehold Premium over 99-yr
Sales by Lease Tenure
| Tenure | Transactions | Share | Avg PSF | Avg Price | Avg Size (sqft) | YoY PSF Change |
|---|---|---|---|---|---|---|
| Freehold | 6,371 | 24.8% | $2,014 psf | $3,288,607 | 1,695 | ↓ 4.3% |
| 99 yrs lease commencing from 2023 | 2,850 | 11.1% | $2,260 psf | $1,940,860 | 868 | ↓ 0.5% |
| 99 yrs lease commencing from 2022 | 1,795 | 7.0% | $2,099 psf | $2,186,171 | 1,052 | ↓ 6.1% |
| 99 yrs lease commencing from 2018 | 1,363 | 5.3% | $2,021 psf | $1,641,815 | 802 | ↑ 0.9% |
| 99 yrs lease commencing from 2024 | 1,209 | 4.7% | $2,592 psf | $2,288,528 | 887 | -- |
| 99 yrs lease commencing from 2012 | 1,044 | 4.1% | $1,504 psf | $1,453,420 | 992 | ↑ 2.0% |
| 99 yrs lease commencing from 2011 | 1,029 | 4.0% | $1,509 psf | $1,521,709 | 1,017 | ↑ 2.2% |
| 99 yrs lease commencing from 2014 | 945 | 3.7% | $1,543 psf | $1,309,507 | 867 | ↑ 8.2% |
| 99 yrs lease commencing from 2019 | 790 | 3.1% | $2,263 psf | $2,149,336 | 940 | ↓ 7.8% |
| 99 yrs lease commencing from 2010 | 712 | 2.8% | $1,466 psf | $1,574,677 | 1,102 | ↑ 5.1% |
| 99 yrs lease commencing from 2015 | 638 | 2.5% | $1,610 psf | $1,394,868 | 891 | ↓ 1.1% |
| 99 yrs lease commencing from 2013 | 637 | 2.5% | $1,634 psf | $1,519,214 | 959 | ↑ 4.5% |
| 99 yrs lease commencing from 1997 | 465 | 1.8% | $1,255 psf | $1,723,697 | 1,403 | ↑ 6.2% |
| 99 yrs lease commencing from 2017 | 438 | 1.7% | $2,024 psf | $1,551,329 | 790 | ↓ 0.2% |
| 99 yrs lease commencing from 2008 | 402 | 1.6% | $1,552 psf | $1,893,237 | 1,255 | ↓ 1.0% |
| 99 yrs lease commencing from 2021 | 392 | 1.5% | $1,767 psf | $2,123,360 | 1,160 | ↓ 15.9% |
| 99 yrs lease commencing from 1996 | 309 | 1.2% | $1,268 psf | $1,738,684 | 1,396 | ↑ 9.4% |
| 99 yrs lease commencing from 2016 | 288 | 1.1% | $1,957 psf | $1,646,920 | 831 | ↑ 2.6% |
| 99 yrs lease commencing from 1995 | 282 | 1.1% | $1,202 psf | $1,789,008 | 1,599 | ↓ 3.5% |
| 99 yrs lease commencing from 2006 | 260 | 1.0% | $1,726 psf | $2,604,189 | 1,509 | ↑ 3.5% |
| 99 yrs lease commencing from 2007 | 248 | 1.0% | $1,785 psf | $2,531,626 | 1,393 | ↑ 3.0% |
| 99 yrs lease commencing from 2000 | 221 | 0.9% | $1,203 psf | $1,512,814 | 1,274 | ↑ 5.6% |
| 99 yrs lease commencing from 1994 | 202 | 0.8% | $1,329 psf | $2,383,405 | 1,862 | ↑ 3.2% |
| 99 yrs lease commencing from 2002 | 185 | 0.7% | $1,607 psf | $1,685,152 | 1,138 | ↑ 2.1% |
| 99 yrs lease commencing from 1993 | 169 | 0.7% | $1,355 psf | $1,723,661 | 1,285 | ↑ 5.6% |
| 99 yrs lease commencing from 2009 | 158 | 0.6% | $1,598 psf | $1,829,125 | 1,169 | ↑ 3.5% |
| 99 yrs lease commencing from 1991 | 146 | 0.6% | $1,340 psf | $1,663,021 | 1,237 | ↑ 7.1% |
| 99 yrs lease commencing from 2001 | 144 | 0.6% | $1,250 psf | $1,752,297 | 1,431 | ↑ 7.5% |
| 99 yrs lease commencing from 2005 | 139 | 0.5% | $1,737 psf | $2,307,601 | 1,338 | ↑ 2.5% |
| 999 yrs lease commencing from 1885 | 126 | 0.5% | $1,730 psf | $2,809,230 | 1,706 | ↑ 10.2% |
| 99 yrs lease commencing from 2004 | 123 | 0.5% | $1,556 psf | $1,742,820 | 1,209 | ↑ 2.7% |
| 99 yrs lease commencing from 1998 | 117 | 0.5% | $1,335 psf | $1,680,210 | 1,263 | ↑ 3.8% |
| 99 yrs lease commencing from 2020 | 114 | 0.4% | $2,487 psf | $2,033,606 | 843 | ↑ 0.8% |
| 999 yrs lease commencing from 1879 | 85 | 0.3% | $1,829 psf | $5,296,682 | 3,128 | ↑ 0.6% |
| 99 yrs lease commencing from 1982 | 85 | 0.3% | $1,225 psf | $1,773,510 | 1,497 | ↑ 1.1% |
| 999 yrs lease commencing from 1877 | 71 | 0.3% | $2,014 psf | $2,305,744 | 1,183 | ↑ 4.8% |
| 99 yrs lease commencing from 1992 | 68 | 0.3% | $1,076 psf | $1,288,971 | 1,180 | ↑ 7.4% |
| 99 yrs lease commencing from 1999 | 62 | 0.2% | $1,812 psf | $2,306,391 | 1,288 | ↑ 0.7% |
| 999 yrs lease commencing from 1882 | 56 | 0.2% | $1,535 psf | $2,435,592 | 1,664 | ↑ 3.4% |
| 956 yrs lease commencing from 1928 | 53 | 0.2% | $1,798 psf | $2,715,023 | 1,494 | ↑ 18.3% |
| 999 yrs lease commencing from 1883 | 48 | 0.2% | $1,664 psf | $2,734,654 | 1,559 | ↓ 19.9% |
| 999 yrs lease commencing from 1841 | 47 | 0.2% | $2,402 psf | $2,098,120 | 912 | ↑ 11.5% |
| 999 yrs lease commencing from 1875 | 39 | 0.2% | $1,995 psf | $6,778,168 | 3,411 | ↓ 14.8% |
| 99 yrs lease commencing from 2003 | 39 | 0.2% | $1,307 psf | $1,690,994 | 1,317 | ↑ 9.2% |
| 999 yrs lease commencing from 1878 | 37 | 0.1% | $1,660 psf | $3,322,892 | 2,135 | ↑ 4.5% |
| 999 yrs lease commencing from 1876 | 37 | 0.1% | $1,747 psf | $3,624,835 | 2,294 | ↓ 0.5% |
| 999 yrs lease commencing from 1886 | 36 | 0.1% | $1,633 psf | $2,974,993 | 1,832 | ↑ 16.4% |
| 99 yrs lease commencing from 1976 | 35 | 0.1% | $994 psf | $1,419,368 | 1,425 | ↑ 0.4% |
| 99 yrs lease commencing from 1977 | 34 | 0.1% | $1,144 psf | $1,944,618 | 1,711 | ↑ 0.4% |
| 999 yrs lease commencing from 1954 | 30 | 0.1% | $1,724 psf | $5,217,196 | 3,204 | ↓ 10.7% |
| 102 yrs lease commencing from 1978 | 28 | 0.1% | $1,012 psf | $1,739,036 | 1,729 | ↑ 0.1% |
| 99 yrs lease commencing from 1979 | 26 | 0.1% | $1,529 psf | $3,693,044 | 2,909 | ↓ 24.4% |
| 999 yrs lease commencing from 1955 | 24 | 0.1% | $1,769 psf | $5,479,500 | 3,171 | ↑ 4.5% |
| 99 yrs lease commencing from 1990 | 23 | 0.1% | $1,325 psf | $1,988,613 | 1,455 | ↑ 1.4% |
| 99 yrs lease commencing from 1975 | 22 | 0.1% | $1,061 psf | $1,820,515 | 1,712 | ↓ 7.1% |
| 103 yrs lease commencing from 2009 | 21 | 0.1% | $1,741 psf | $2,254,995 | 1,541 | ↓ 2.6% |
| 99 yrs lease commencing from 1984 | 19 | 0.1% | $1,067 psf | $1,810,947 | 1,698 | ↓ 1.2% |
| 103 yrs lease commencing from 2002 | 18 | 0.1% | $1,608 psf | $1,946,199 | 1,224 | ↑ 2.8% |
| 999 yrs lease commencing from 1956 | 18 | 0.1% | $1,994 psf | $4,684,167 | 2,392 | ↑ 3.5% |
| 99 yrs lease commencing from 1970 | 16 | 0.1% | $1,182 psf | $1,343,243 | 1,161 | ↓ 0.8% |
| 99 yrs lease commencing from 1968 | 15 | 0.1% | $1,282 psf | $924,867 | 756 | ↑ 0.2% |
| 60 yrs lease commencing from 2013 | 14 | 0.1% | $1,429 psf | $699,714 | 492 | ↑ 1.9% |
| 999 yrs lease commencing from 1995 | 14 | 0.1% | $2,477 psf | $6,082,571 | 2,495 | ↓ 0.7% |
| 947 yrs lease commencing from 1934 | 13 | 0.1% | $2,445 psf | $4,756,154 | 1,997 | -- |
| 100 yrs lease commencing from 1986 | 12 | 0.0% | $1,057 psf | $1,840,750 | 1,745 | ↑ 2.7% |
| 999 yrs lease commencing from 1953 | 11 | 0.0% | $1,471 psf | $6,430,818 | 4,443 | ↑ 5.1% |
| 103 yrs lease commencing from 1977 | 10 | 0.0% | $1,045 psf | $1,784,578 | 1,708 | ↓ 0.9% |
| 102 yrs lease commencing from 1996 | 10 | 0.0% | $1,642 psf | $4,524,000 | 2,774 | ↑ 7.4% |
| 946 yrs lease commencing from 1938 | 10 | 0.0% | $1,112 psf | $1,563,689 | 1,587 | ↑ 7.4% |
| 999 yrs lease commencing from 1884 | 9 | 0.0% | $1,909 psf | $3,475,185 | 1,937 | ↑ 1.1% |
| 929 yrs lease commencing from 1953 | 9 | 0.0% | $2,082 psf | $2,592,889 | 1,243 | ↑ 1.5% |
| 999 yrs lease commencing from 1874 | 8 | 0.0% | $1,776 psf | $8,211,111 | 5,414 | ↓ 3.3% |
| 99 yrs lease commencing from 1983 | 8 | 0.0% | $869 psf | $1,669,236 | 1,946 | ↑ 9.5% |
| 99 years leasehold | 7 | 0.0% | $2,689 psf | $8,505,000 | 1,944 | -- |
| 999 yrs lease commencing from 1827 | 7 | 0.0% | $2,277 psf | $2,435,714 | 1,069 | ↓ 2.4% |
| 999 yrs lease commencing from 1881 | 7 | 0.0% | $1,517 psf | $4,030,894 | 2,798 | ↑ 24.3% |
| 99 yrs lease commencing from 1973 | 6 | 0.0% | $1,161 psf | $1,311,667 | 1,105 | ↓ 9.0% |
| 940 yrs lease commencing from 1941 | 6 | 0.0% | $2,173 psf | $4,292,296 | 1,992 | -- |
| 70 yrs lease commencing from 1964 | 6 | 0.0% | $191 psf | $556,667 | 2,961 | ↑ 4.6% |
| 103 yrs lease commencing from 1975 | 6 | 0.0% | $1,005 psf | $1,771,833 | 1,826 | ↓ 5.7% |
| 99 yrs lease commencing from 1980 | 5 | 0.0% | $1,697 psf | $2,903,000 | 1,783 | ↑ 5.2% |
| 946 yrs lease commencing from 1937 | 5 | 0.0% | $1,469 psf | $1,685,760 | 1,137 | ↓ 1.6% |
| 103 yrs lease commencing from 1974 | 5 | 0.0% | $1,201 psf | $2,302,000 | 1,916 | -- |
| 99 yrs lease commencing from 1947 | 4 | 0.0% | $337 psf | $757,222 | 2,357 | ↑ 3.2% |
| 99 yrs lease commencing from 1978 | 4 | 0.0% | $886 psf | $2,405,000 | 2,759 | ↓ 0.9% |
| 99 yrs lease commencing from 1981 | 4 | 0.0% | $920 psf | $1,837,200 | 1,997 | -- |
| 999 yrs lease commencing from 1937 | 3 | 0.0% | $1,896 psf | $1,524,000 | 804 | ↑ 1.3% |
| 103 yrs lease commencing from 2010 | 3 | 0.0% | $1,980 psf | $1,300,000 | 657 | ↓ 4.8% |
| 953 yrs lease commencing from 1931 | 2 | 0.0% | $1,122 psf | $6,124,500 | 5,748 | ↓ 41.9% |
| 9999 yrs lease commencing from 1960 | 2 | 0.0% | $1,028 psf | $1,503,500 | 1,441 | -- |
| 99 yrs lease commencing from 1952 | 2 | 0.0% | $459 psf | $1,440,000 | 3,615 | ↑ 53.9% |
| 85 yrs lease commencing from 1990 | 2 | 0.0% | $874 psf | $1,157,500 | 1,324 | ↑ 3.2% |
| 103 yrs lease commencing from 2013 | 2 | 0.0% | $1,020 psf | $2,810,320 | 2,756 | ↓ 2.1% |
| 999 yrs lease commencing from 1958 | 2 | 0.0% | $1,630 psf | $4,605,000 | 2,873 | ↓ 19.9% |
| 945 yrs lease commencing from 1936 | 2 | 0.0% | $1,891 psf | $3,183,000 | 1,683 | -- |
| 99 yrs lease commencing from 1972 | 2 | 0.0% | $566 psf | $1,975,000 | 3,490 | ↑ 3.0% |
| 947 yrs lease commencing from 1937 | 2 | 0.0% | $1,819 psf | $1,832,500 | 1,006 | ↑ 5.3% |
| 9999 yrs lease commencing from 1963 | 1 | 0.0% | $2,124 psf | $2,400,000 | 1,130 | -- |
| 103 yrs lease commencing from 2008 | 1 | 0.0% | $1,171 psf | $3,530,000 | 3,014 | ↑ 6.4% |
| 99 years lease commencing from 2022 | 1 | 0.0% | $2,573 psf | $2,825,000 | 1,098 | -- |
| 110 yrs lease commencing from 2017 | 1 | 0.0% | $2,456 psf | $1,560,000 | 635 | ↑ 1.5% |
| 993 yrs lease commencing from 1973 | 1 | 0.0% | $1,913 psf | $2,780,000 | 1,453 | ↑ 5.4% |
| 999 yrs lease commencing from 1961 | 1 | 0.0% | $1,415 psf | $4,580,000 | 3,238 | -- |
| 999 yrs lease commencing from 1960 | 1 | 0.0% | $1,436 psf | $4,680,000 | 3,258 | -- |
| 999 yrs lease commencing from 1966 | 1 | 0.0% | $1,780 psf | $2,280,000 | 1,281 | ↑ 58.3% |
| 9999 yrs lease commencing from 1961 | 1 | 0.0% | $697 psf | $1,310,000 | 1,878 | -- |
| 999999 yrs lease commencing from 1958 | 1 | 0.0% | $929 psf | $1,500,000 | 1,615 | -- |
| 99 yrs lease commencing from 1965 | 1 | 0.0% | $250 psf | $2,100,000 | 8,416 | -- |
| 93 yrs lease commencing from 1979 | 1 | 0.0% | $1,162 psf | $988,000 | 850 | -- |
Market Commentary
In 2024, tenure remained a decisive factor in condo pricing. Freehold properties commanded a 707.1% 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 2024?
Freehold and 999-year condos typically trade at a significant PSF premium over 99-year leasehold properties. In 2024, this premium was approximately 707.1%. 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 2024, 109 distinct tenure categories were recorded across 25,639 transactions.
Explore more market data and tools on ShiokNest.
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.