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 Blog Posts Buying Tips

Step-By-Step Guide To Buy Resale HDB (Updated March 2023)

Jayson Ang – July 13, 2023 –

TLDR The process of purchasing a resale HDB flat involves steps such as checking eligibility, calculating affordability, registering intent to...

All Opinion

Why Can’t More People Own Private Property?

Jayson Ang – April 2, 2024 –

TLDR The blog post discusses the aspirations of individuals like Siti and Mr. Tan regarding property ownership in Singapore. Siti...

All Buying Tips Opinion Selling Tips

The 15-Month Wait-Out Period: An Unnecessary Burden in a Challenging Economy

Jayson Ang – February 6, 2026 –

TLDR The 15-month wait-out period introduced in September 2022 requires private property owners to wait before buying a resale or...

All Buying Tips Opinion Selling Tips

Navigating the 2025 Singapore Property Market: Why Informed Buyers Can Stay Confident

Jayson Ang – July 9, 2025 –

TLDR Despite global economic uncertainties, Singapore’s property market remains resilient due to robust financial regulations, conservative loan assessments, and effective...

Mandarin Top 5

5 Reasons Why Condos Are The Best Real Estate Investment in Singapore

Jayson Ang – March 25, 2024 –

Investing in a condo in Singapore is a popular choice for both locals and foreigners. Condominiums offer a range of...

All Buying Tips Opinion Selling Tips

4 Intriguing Property Trends in Singapore for 2024

Jayson Ang – February 10, 2025 –

TLDR The dynamic shifts in Singapore's real estate market following Covid, highlighting three key trends: the surprising resilience of the...

Mandarin Top 5

Top 5 Factors : Singapore Real Estate Investing vs Stocks and Bonds: Which is Better?

Jayson Ang – October 23, 2024 –

Investing is an essential aspect of wealth creation and financial planning. With a plethora of investment options available, it can...

Mandarin Top 5

Top 5 Most Common Red Flags To Watch Out For When Investing In Singapore Property

Jayson Ang – August 11, 2024 –

Investing in Singapore property has long been considered a lucrative and stable way to build wealth. However, like any investment,...

Mandarin Top 5

Top 5 : Best Street Art Murals in Singapore

Jayson Ang – December 17, 2024 –

Singapore, a vibrant and multicultural city-state, is not only known for its iconic landmarks and delicious cuisine but also for...

Mandarin Top 5

Experience The Best Of Southeast Asia: 5 Must-See Destinations After Singapore

Jayson Ang – February 22, 2024 –

Singapore is a great starting point for travelers looking to explore the region. From Singapore, there are many great destinations...

Mandarin Top 5

Top 5 Tips : How to Choose the Best Property Agent in Singapore – Insider Tips and Strategies!

Jayson Ang – September 30, 2024 –

Choosing the right property agent in Singapore can be a daunting task, especially with the plethora of options available. A...

All Buying Tips Opinion

Executive Condos in Singapore: Have They Outgrown the “Sandwich Class” Label?

Jayson Ang – July 1, 2025 –

TLDR The Executive Condominium (EC) scheme, once intended as affordable “sandwich class” housing, is now acting more like a lottery...

Mandarin Top 5

Top 5 : Benefits of Investing in Newer vs. Older Singapore Property Market Condos for International Buyers

Jayson Ang – January 4, 2025 –

Singapore's property market has always been an attractive investment option for international buyers, thanks to its stable economy, strategic location,...