Singapore Luxury Residential Real Estate Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2031)

Singapore Luxury Residential Real Estate Market Trends and Insights

Robust UHNW inflows & Singapore’s safe-haven appeal

Net migration of 3,500 millionaires in 2024 places Singapore third globally for private-wealth inflows. Many of these newcomers establish operational bases rather than passive asset parks, creating durable demand across central districts. Rental caveats in the Core Central Region rose 5.7% as UHNWIs opted to lease premium condominiums before purchasing. The city-state’s political stability, transparent regulations, and tax consistency reinforce this inflow momentum. As a result, luxury listings seldom stay on the market long, sustaining price resilience even during policy tightening.

Ultra-low interest rates fuelling hard-asset allocation

Monetary easing across major economies continues to steer global capital toward hard assets. The Monetary Authority of Singapore’s measured currency-band adjustments sustain an accommodative backdrop that enhances real estate’s inflation-hedge appeal. Crypto-wealthy investors convert volatile digital holdings into tangible property, illustrated by a 52.2% jump in heritage shophouse sales during Q1 2024. Developers leveraging construction automation—robots that lift painting productivity by 30%—help contain build costs, ensuring new launches remain attractive. The driver is set to moderate only when global interest-rate normalization becomes entrenched.

Foreign buyer demand leveraging SGD strength & political stability

A firm Singapore dollar offsets the doubled 60% Additional Buyer’s Stamp Duty (ABSD) for foreigners, filtering out speculators yet retaining committed investors. Transaction evidence, such as the USD 29.2 million Ford Avenue mansion purchase by banking-family scion Grace Wee, shows that governance premiums outweigh elevated entry costs for many overseas buyers. Climate-resilient investments further protect long-term value, strengthening confidence among global UHNWIs.

Tokenised property platforms enabling crypto-wealth deployment

Project Guardian has brought 24 global banks and asset managers into live pilots that fractionalize prime real estate on shared ledgers. This framework lowers ticket sizes and enhances liquidity, broadening the investor pool for marquee condominiums in the Singapore luxury residential real estate market. Early adopters are already marketing tokenised stakes in CBD projects, signaling an on-ramp for digital-asset holders seeking geographic diversification^{[1]Monetary Authority of Singapore, “Project Guardian: Expanding Asset Tokenisation,” Monetary Authority of Singapore, mas.gov.sg}.

Limited land supply & strict government land-release policies

Singapore’s land scarcity is structural, leaving the Government Land Sales (GLS) programme as the main channel for adding supply. Only 8,505 private units are earmarked for release in 1H 2025, marginally above the previous tranche. Competitive bidding drives plot prices higher, as seen in Allgreen’s USD 540.3 million Zion Road bid and GuocoLand’s unsuccessful offer for Marina Gardens Crescent. Reclamation plans like the Long Island project will not deliver residential plots for at least a decade, keeping prime land a scarce commodity and capping volume growth.

Additional Buyer’s Stamp Duty (ABSD) on foreign purchases

The April 2023 ABSD hike to 60% created a formidable cost hurdle for non-resident buyers. Luxury bungalow deals shrank in early 2025 as global investors recalibrated after the policy shock. Some foreign buyers now explore indirect structures or real-estate investment trusts to bypass ABSD, but volumes remain subdued. While the measure curbs speculation and cools prices, it removes a pool of incremental capital that might otherwise accelerate market turnover.

Segment Analysis

By Property Type: Condominiums Anchor Demand While Landed Homes Outpace

Apartments and condominiums captured 63.25% of the Singapore luxury residential real estate market share in 2025, reflecting the city’s high-rise urban model and turnkey appeal to globally mobile investors. Premium towers in Marina Bay and Orchard Road offer hotel-grade concierge services, integrated retail, and rapid transit access, attributes that resonate with time-pressed executives. Condominium values have also benefited from tokenisation pilots that unlock smaller investment tickets without requiring whole-unit ownership.

Landed houses, though smaller in base, are the fastest-growing slice at an 8.05% CAGR through 2031 as UHNWIs chase space and privacy unavailable in vertical living. Supply is inherently capped by zoning controls, with good-class bungalow areas rarely expanded. The USD 29.2 million Ford Avenue transaction underscores buyers’ willingness to absorb ABSD for unique assets. Developers respond by retrofitting older landed stock with wellness features and climate-resilient drainage to command even higher premiums, reinforcing the segment’s upward trajectory.

Note: Segment shares of all individual segments available upon report purchase

By Business Model: Sales Still Dominate as Rentals Bloom

Sales transactions delivered 70.35% of 2025 revenue, cementing Singapore's luxury residential real estate market norms that privilege ownership for wealth preservation. Permanent-resident upgraders join foreign family offices in viewing prime property as a multi-generational store of value. ABSD differentials also continue to favor citizens, sustaining local buy-to-hold activity even as foreign enthusiasm moderates.

Rentals, however, are expanding at a brisk 8.62% CAGR as 3,500 new millionaires trickle in and opt for flexibility. Core Central Region leases grew 5.7% in 2024, led by longer-term executive contracts that often exceed three years. A pipeline of 40,000 completions slated for 2025 should ease vacancy pressures and stabilise rents. Investors see upside in assembling rental portfolios that can later be tokenised, providing liquidity without outright divestment.

By Mode of Sale: Resale Raises Liquidity While New-Builds Gain Cachet

Secondary deals made up 58.45% of market turnover in 2025, a testament to Singapore’s deep pool of mature luxury stock across Districts 9, 10, and 11. Buyers value immediate availability, proven management, and established neighbourhood character. Resale liquidity also appeals to investors who prefer price discovery through recent transaction evidence.

Primary launches, advancing at an 8.17% CAGR, are moving up the amenity curve to justify premiums. The latest GLS sites at Zion Road and Keppel Golf Course will debut carbon-neutral materials, robotic valet parking, and in-house telehealth clinics. Green Mark 2021 certification has become table stakes, nudging developers toward solar-ready rooftops and grey-water recycling. Buyers willing to wait for completion gain a future-proof design and lower operating costs, balancing the immediate gratification of resale.

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Singapore’s compact geography means the entire island functions as one interconnected Singapore luxury residential real estate market. Prime central zones—Districts 1, 2, 9, 10, and 11—collectively own 45.40% of the 2025 value owing to unrivalled access to multinational headquarters, luxury retail, and top medical facilities. The government’s USD 125.8 million Orchard Road flood-mitigation upgrade enhances asset durability, a feature prized by institutional landlords and family offices alike. Meanwhile, job creation from USD 9.99 billion semiconductor and biopharma investments funneled into the Core Central Region keeps leasing momentum elevated.

Sentosa Cove, though just minutes from the central mainland, offers a distinct resort environment with golf, marina, and beachfront assets that are impossible to replicate inland. Its 8.92% CAGR to 2031 leads all districts, supported by scarcity—foreigners cannot own landed property elsewhere without explicit government approval. Elevated plot lines and robust seawalls future-proof the enclave against sea-level rise, adding a layer of environmental security that many yacht-owning buyers value.

Peripheral upscale precincts such as Bukit Timah and Keppel Golf Course are being unlocked through timely GLS releases, injecting fresh luxury supply into green-rich corridors. Rail extensions like the Thomson-East Coast Line compress commute times to the CBD, improving these districts’ competitiveness. As a result, pricing gaps between core and fringe prime areas have narrowed, broadening the geographic spread of the Singapore luxury residential real estate market without eroding the CBD’s dominance.