Private Condos Now More Popular Than HDBs in Singapore

In Singapore’s ever-evolving real estate landscape, a notable shift is taking place: private condominiums are now drawing more attention than HDB flats. What was once considered an aspirational leap is fast becoming the preferred choice for both upgraders and first-time buyers. Whether driven by lifestyle expectations or long-term investment goals, the surge in popularity for the new private condo in Singapore market is no accident.

Private Condos Now More Popular Than HDBs in Singapore

Navigating this lucrative market, however, requires a deep understanding of the procedural aspects of purchasing a property and the implications of property taxes. Here, we delve into what it takes to make a sound property investment in Singapore, from understanding property tax to mastering the buying process.

Let’s unpack why more Singaporeans are choosing condos over flats in 2025, and what this says about broader changes in the Singapore housing market.

1. The Growing Price Divide: What It Tells Us

The pricing difference between HDBs and private properties isn’t just a gap—it’s a widening chasm. Over the past few years, condo price in Singapore has risen more rapidly than that of HDB resale flats. While million-dollar flats capture media attention, they remain outliers. Meanwhile, in places like Bishan and Clementi, even leasehold condos regularly exceed the $2 million mark.

This surge is not purely speculative. Many see a Singapore condo as a superior long-term asset, appreciating more reliably than HDB flats. And with condo trends in Singapore suggesting sustained growth, it’s little surprise that buyers are setting their sights higher.

2. What Singaporeans Want in 2025

The demand for private property is no longer about luxury for luxury’s sake. Today’s buyers want alignment between home, lifestyle, and future ambitions.

Several practical factors are influencing this pivot:

• Dual-income households have more spending power and are opting for homes that offer convenience—think childcare facilities, co-working lounges, and gyms.

• Location is king. Condos close to MRT stations, good schools, and major hubs save hours in weekly commute time.

• Security and privacy are now essential, not optional—making gated condominiums more appealing to families and retirees alike.

• From a financial perspective, condos have better rental and resale potential, offering more utility over time.

In short, many no longer view HDBs as a stepping stone—they’re diving straight into the new private condo in Singapore pool.

3. Are Condos Worth the Premium?

It’s the big question: are you really getting better value for money when you buy condo in Singapore?

In several prime and mid-tier areas like Clementi, Bishan, and Bukit Timah, condos consistently offer better build quality, amenities, and investment value. Though the upfront costs are higher, these homes come with a tangible lifestyle boost and greater long-term potential.

Even in districts where the price difference narrows—such as Woodlands—some families still prefer flats for their larger layouts and affordability. But that doesn’t make condos less attractive. Instead, it reflects a broader diversity of buyer priorities.

4. Why Million-Dollar Flats Aren’t the Norm

Yes, there are HDBs crossing the million-dollar threshold—but they remain rare exceptions. These properties tend to be located in central, mature estates and are often larger in size.

Most Singaporeans, especially first-timers, still consider affordability as their top priority. However, as more buyers evaluate long-term gains over initial costs, the psychological gap between flats and private condos continues to narrow.

What’s clear is that the condo price in Singapore has not discouraged interest—instead, it has redefined buyer expectations and aspirations.

5. The Younger Generation’s Take on Property

Millennials and Gen Z buyers are reshaping the narrative. They see homeownership as more than just a necessity—it’s a financial milestone and a personal brand statement.

What’s driving them?

• Gyms, pools, and even pet-friendly spaces are now seen as standard condo features—not luxuries.

• Younger buyers view their homes as assets. With better understanding of CPF use, TDSR limits, and condo loan in Singapore options, they’re making smarter, more strategic choices.

• Many are willing to stretch their budget slightly if it means long-term comfort and potential capital gains.

This explains the rising popularity of OCR (Outside Central Region) projects, where condos offer a compromise between affordability and lifestyle.

6. Why Some HDB Upgraders Are Holding Back

While the jump from flat to condo is aspirational, it’s not always straightforward. The growing price gap has made some HDB upgraders rethink their plans.

Here’s why:

• Resale flats, especially larger ones, offer more space for less money.

• The cost of upgrading (including ABSD, legal fees, and renovation costs) can be daunting.

• Executive Condos (ECs), which once bridged the gap between flats and private condos, are now limited in availability and increasingly competitive.

As a result, some are opting to “right-size” to newer flats in better locations rather than take on the financial burden of private property.

7. Paying with Cash: A Rising Trend Among Condo Buyers

CPF has traditionally been the default mode of funding property purchases. But in 2025, more buyers are choosing to preserve their CPF balances and fund part of their condo with cash.

Why this shift?

• Condo loan in Singapore options pegged to SORA have risen beyond 3.75%, making faster loan repayment with cash more appealing.

• CPF funds, when used for property, need to be refunded with accrued interest upon sale. This reduces cash proceeds and can limit mobility.

• Savvy buyers understand the long-term benefits of letting their CPF grow—especially for retirement payouts.

This preference for cash reflects a deeper financial awareness among today’s buyers.

8. How Mortgage Advisors Are Helping Shape Decisions

In this dynamic market, working with a mortgage advisor has become more than just a convenience—it’s a strategic advantage. From comparing rates to understanding loan structures, mortgage professionals help buyers navigate the fine print.

A few points they often advise on:

• Avoid overleveraging. Don’t max out your loan eligibility just to secure a premium unit.

• Consider resale value and cash flow, not just monthly instalments.

• Fixed-rate packages may offer peace of mind amid interest rate volatility.

• Some Singapore condo launches offer better mortgage deals through bank tie-ups—these can be worth exploring.

9. What This Shift Means for HDB Flats

As condos become more mainstream, it’s tempting to assume HDB flats are losing ground. But the reality is more nuanced.

Flats remain essential to Singapore’s housing ecosystem. They offer:

• Greater affordability for younger couples and lower-income families.

• Less exposure to market fluctuations.

• Lower maintenance fees and fewer risks during economic downturns.

The government continues to support HDB buyers through policy tweaks, new BTO projects, and enhanced grants. So while the spotlight is on private property, flats are far from obsolete.

10. Anticipating the Future of Singapore’s Property Landscape

What lies ahead as demand for condos continues to rise?

Several things could happen:

• A broader roll-out of “Plus” and “Prime” flat models to maintain balance.

• New forms of financial support for upgraders caught between rising condo price in Singapore and stagnant flat values.

• Tighter regulations to keep speculative buying in check, especially around new private condo in Singapore launches.

As always, the key is balance—ensuring the Singapore housing market remains inclusive, stable, and responsive to shifting trends.

Final Thoughts

The current wave of interest in private condos is more than just a passing trend—it reflects deeper changes in aspirations, lifestyles, and financial literacy across Singapore. As more people buy condo in Singapore, they’re not just chasing luxury; they’re investing in homes that offer security, flexibility, and long-term value.

Whether you're a first-time buyer or a seasoned upgrader, knowing what drives these shifts helps you make smarter choices in a competitive market. And in a city where every square foot matters, understanding the bigger picture is the first step to finding a space that truly fits.