Your search results

Homeownership, Desire To Upgrade Still Strong Among Youths

Posted by Jayson Ang on September 8, 2025

| 0

TLDR

Young Singaporeans are redefining the “Singapore Dream” with homeownership and property upgrading at its core. Most Gen Zs (85%) and Millennials are prioritizing buying homes, with many aiming to progress from HDB flats to private condos for both lifestyle and investment reasons. However, rising property prices, high interest rates, property taxes, and stricter loan rules are real concerns—25% worry about affordability, and ABSD remains a barrier for many. Despite these challenges, young buyers remain determined and pragmatic, carefully planning each step of their property journey. The desire for bigger homes is balanced by budget constraints, with three-bedroom units being most popular. Overall, homeownership remains a key aspiration, but buyers are adapting strategies to meet evolving financial and lifestyle needs.

The ‘Singapore Dream’ is evolving, but housing remains at its core. Young Singaporeans like Farah, 27, exemplify this new mindset. She’s starting with a five-room BTO in Tengah but already has her sights set on a private condo post-MOP. It’s not just about having a roof overhead – it’s about strategic property progression.

Recent survey findings paint a telling picture. Among Gen Z (21-27), a striking 85% prioritize homeownership, with 59% planning to upgrade to private condos within five years. Take Hanan Zailani, 25, who’s pursuing a practical path: starting with a four-room resale flat while keeping future upgrades in mind.

Millennials (28-43) show similar ambitions, but with more financial muscle. A solid 35% aim for private condos, with most targeting the $1-2 million range. Space matters across generations – three bedrooms appear to be the sweet spot, reflecting both family planning and work-from-home considerations.

Consider Ms Ong’s persistence – four BTO attempts before success. Her story reflects a broader truth: young Singaporeans remain undeterred by housing challenges. They’re adapting their strategies while keeping their property aspirations intact.

While Prime Minister Lawrence Wong speaks of a “Refreshed Singapore Dream” beyond material success, the survey reveals an interesting dynamic: young Singaporeans aren’t abandoning traditional aspirations – they’re redefining them. They want homes that appreciate in value while providing space for life’s evolving needs.

The story isn’t just about ownership – it’s about progression. From BTO to private condo, each step is carefully calculated. Today’s young buyers are both pragmatic and ambitious, balancing immediate needs with long-term investment potential.

Nonetheless, the wish for larger homes is moderated by concerns over affordability. Issues such as property prices, elevated interest rates, property taxes, difficulties in obtaining larger loans, and Additional Buyer’s Stamp Duty (ABSD) continue to affect Singaporeans’ aspirations for home ownership.

According to the survey, 25% expressed that the affordability of private homes is a worry. This perspective aligns with transaction data from the first half of 2024, which shows that 64% of non-landed transactions were priced under $2 million, while an additional 26% fell within the $2 million to $3 million bracket. At least 26% of these transactions took place in the Rest of Central Region (RCR).

The disparity in prices between new and resale homes continues to be significant, with median prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) reflecting a gap of approximately 37% and 39%, respectively. At the same time, 17% of survey participants indicated that interest rates have affected their affordability, while 16% reported an impact on their loan eligibility. Additionally, 13% concurred that the Additional Buyer’s Stamp Duty (ABSD) poses a major obstacle to purchasing their next property.

“Despite the financial challenges that prospective buyers may encounter, most are willing to invest to secure their ideal home, underscoring the value of home ownership as a treasured aspiration for many in Singapore.”

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Opinion

Should We Reconsider the ABSD Rates?

Jayson Ang – January 5, 2025 –

TLDR We explore the need to reevaluate the current Additional Buyer's Stamp Duty (ABSD) rates in Singapore, considering their impact...

Mandarin Top 5

Top 5 Tips for First-Time Chinese Buyers Looking to Invest in Singapore Today

Jayson Ang – May 31, 2023 –

Top 5 Tips for First-Time Chinese Buyers Looking to Invest in Singapore Today Here are the top 5 tips for...

Mandarin Top 5

Singapore’s Real Estate Market: The 5 Most Important Documents to Review Before Buying a Property

Jayson Ang – March 26, 2024 –

Singapore's real estate market is highly regulated and can be complex for those unfamiliar with the process. As a prospective...

All Buying Tips Reports Selling Tips

Exploring the Allure of Freehold Titles Among Singaporeans

Jayson Ang – October 16, 2025 –

TLDR Freehold properties remain highly attractive in Singapore due to their scarcity, lasting value, and legacy potential. Buyers are drawn...

All Blog Posts Buying Tips

Singapore Decoupling Guide

Jayson Ang – December 29, 2022 –

TLDR Decoupling in Singapore's real estate refers to the process of separating property ownership to avoid Additional Buyer's Stamp Duty...

Mandarin Top 5

Top 5 Reasons : Why Singapore’s Property Market Is the Best Place to Invest for Long-Term Growth – Expert Analysis!

Jayson Ang – June 9, 2025 –

TLDR Singapore’s property market stands out for long-term investment due to its strong economy, stable government policies, high rental demand,...

All Blog Posts Buying Tips

Discover 11 Helpful Tips for Buying an Older Condo : A Comprehensive Guide for Buyers

Jayson Ang – March 2, 2023 –

TLDR When considering purchasing an older resale condo, ensure you investigate potential en-bloc bids, lift conditions, parking conveniences, playground safety,...

All Opinion Selling Tips

Punggol Northshore HDB Flats Reaching MOP: Navigating the Resale Window

Jayson Ang – January 26, 2026 –

TLDR In 2025, around 1,765 HDB flats from Northshore Residences I & II and Northshore StraitsView in Punggol’s Northshore will...

Mandarin Top 5

Top 5 Best Hidden Photography Locations in Singapore

Jayson Ang – October 3, 2024 –

Singapore, a vibrant city-state known for its iconic landmarks and bustling urban landscape, is also home to numerous hidden gems...

All Blog Posts Buying Tips

Will Your HDB Flat Provide For Your Retirement?

Jayson Ang – July 11, 2023 –

TLDR Singapore's property market presents challenges with high prices, particularly in private housing, while public housing remains relatively more affordable....

Mandarin Top 5

Top 5 Key Factors that Affect Singapore’s Property Prices?

Jayson Ang – February 9, 2025 –

Singapore's property market has always been a topic of interest for both local and international investors. The city-state's real estate...

Mandarin Top 5

Top 5 Best Secret Running Routes in Singapore

Jayson Ang – September 28, 2024 –

Singapore, a bustling city-state known for its modern architecture and vibrant culture, is also a haven for runners seeking scenic...

Mandarin Top 5

Top 5 Reasons Why Singapore’s Luxury Property Market Is Booming – Expert Analysis!

Jayson Ang – October 17, 2024 –

Singapore's luxury property market has been experiencing a significant boom in recent years, attracting the attention of investors and high-net-worth...