House vs Unit Price Divergence: Key Trends Driving Singapore’s Property Market

Singapore's property market is showing a sharp divergence between the prices of landed houses and non-landed units, with landed home values breaking past historic highs even as condominium gains are cooling. Median prices for detached and terrace houses reached just above SGD 5 million in June 2026, compared to a marginal 0.9% quarterly increase for private condos, where the median sits steady at about SGD 1.8 million.

The house-unit price gap matters now because it’s forcing homebuyers and investors to rethink both timing and location. As resale HDB flat volumes hit records—especially in popular estates like Bishan and Queenstown—the ability of upgraders to leap from public flats to private landed homes may be slipping further out of reach. The result is new urgency among families priced out of landed enclaves in Serangoon Gardens or Bukit Timah, now considering executive condominiums or newer mass-market projects around Tengah and Jurong West instead.

Where the Gap Is Widening

Walk down Chiltern Drive or Fourth Avenue and the difference is clear: recent landed deals regularly cross the SGD 4 million threshold, with a freehold semi-detached off Sixth Avenue selling last week for SGD 6.3 million according to data from ERA Realty. Meanwhile, resale condos at Park Infinia at Wee Nam or City Square Residences are transacting just above the SGD 1,900 to 2,200 psf mark, only slightly up from the same period in 2025. Knight Frank’s latest market report underscores the trend: landed prices rose 7.2% year-on-year in Q2, while non-landed private homes managed barely 1.3% growth.

Consultants point to the squeeze of limited landed stock—only about 73,000 landed homes exist in Singapore compared to over 370,000 non-landed units—and persistent demand from local families willing to pay a premium for space. That scarcity is especially pronounced in established precincts such as Joo Chiat, Serangoon Gardens, and Bukit Timah, where plots rarely come up for sale. In stark contrast, supply from new condo and executive condominium (EC) launches remains robust. The just-launched Altura EC in Bukit Batok, for example, has 360 units priced from SGD 1.32 million for a three-bedder, luring HDB upgraders still priced out of landed options.

Crunching the Numbers

Latest transactional data compiled by the Urban Redevelopment Authority (URA) shows the median transacted price for landed homes reached a record SGD 5.04 million in June, compared to SGD 1.83 million for non-landed private homes. Analysts from OrangeTee & Tie estimate that the landed segment now holds a 175% price premium over condos on a per-unit basis, up from 155% in 2020. Even in non-prime areas like Sembawang and Hougang, terrace houses now command well over SGD 3 million, while resale condos in the same districts average less than SGD 1.5 million. The divergence stands out even more starkly in ultra-prime District 10, where landed homes on Leedon Road and Holland Road fetched an average of SGD 13.7 million across five transactions this quarter.

Sales volumes tell the same story. Since March, landed deals are up 18% quarter-on-quarter, while condo transactions fell back nearly 6% in the face of tighter financing rules and more cautious foreign demand.

For buyers, the house vs unit price divergence means re-assessing priorities. Property agents report more families opting for executive condominiums near MRT lines—such as Lumina Grand in Bukit Batok or Copen Grand in Tengah—balancing space and price. Owners of rare-sized HDB flats in Queenstown and Bishan sit tight, aware that private landed aspirations might remain dreams for now. For investors, this is uncharted territory: rental yields remain higher for condos (averaging 3.2% in June) but long-term capital appreciation is increasingly being associated with land.

Looking ahead, most analysts expect the gap to persist, driven by land scarcity, ongoing amnesty of foreign-owned landed properties, and limited new supply. Buyers trading up in 2026 may look further afield—to new towns like Tengah, or to strata landed clusters on the city’s fringe—or else adjust expectations to match Singapore’s re-shaped market realities.