“””Freehold Flats Abundant for Now but Expected to Decline in Future, Say Analysts”” “

SINGAPORE – Contrary to popular belief, freehold and 999-year leasehold non-landed homes in Singapore make up a significant portion of the condominium market, accounting for over 40% of all units, according to a recent report from Huttons Data Analytics. However, analysts warn that while these long-term leasehold properties may be common now, their availability is expected to decrease over time.

Huttons reports that out of Singapore’s 328,305 non-landed residential units, approximately 142,000 are either freehold or on 999-year leases, while the majority—over 185,000 units—are on 99-year leases. The prevalence of these long-lease properties today is attributed to land sales that occurred before Singapore’s independence in 1965, when freehold and 999-year leases were more common.

Looking forward, however, Huttons forecasts a decline in the supply of such long-lease properties as new residential land is predominantly sold on 99-year leases. “Future supply of 999-year or freehold non-landed homes will be limited, relying largely on the successful redevelopment and intensification of older developments,” the report notes. As a result, these homes may grow more valuable over time due to their increasing rarity.

The existing stock of freehold and 999-year leasehold properties is concentrated in districts such as 10, 15, 9, 21, and 14, which collectively hold about 84% of the current supply of these sought-after units.