Insights · The Journal
Field notes from
a decade-long brief.
Theses, masterplan reads, the occasional pulled-string of an idea. Written between client calls, never to sell, always to clarify.
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Four bids, one record: the $1,537 land price that reprices the east.
A UOL, CapitaLand and SingLand joint venture just bid $1.43 billion for the New Upper Changi Road site, a record land rate for the suburbs, 13.8% clear of the next offer. Bedok has not seen a major launch in 15 years. Here is what that number does to every price around it.
The November BTO guide: 7,960 flats, six towns, and a deadline in September.
About 7,960 flats across Bedok, Geylang, Sembawang, Tengah, Toa Payoh and Yishun, in the first exercise under the $16,000 income ceiling. The paperwork deadline lands 25 September, and the ballot maths this round is stranger than it looks.
The income ceilings finally moved. They still have not caught up with your salary.
BTO goes to $16,000 and ECs to $18,000 from 24 August, the first change since 2019. Set against how much incomes actually grew in those seven years, the increase restores about half the ground lost. And the EC change helps almost nobody buying an EC this side of 2028.
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Can you buy a second property in Singapore? Here’s the real cost.
Yes, any citizen, PR or foreigner can buy a second property in Singapore. What changes is the bill: 20% ABSD for a citizen, 30% for a PR, 60% for a foreigner, and a loan capped at 45% instead of 75%. The full cash and CPF picture, worked on a $1.5m example.
In a typical private resale, the seller carries the whole 2% commission. Most buyers pay nothing at all.
Who pays the property agent’s commission in Singapore is rarely who people assume. Sellers usually carry it, private resale buyers often pay nothing directly, and GST quietly adds a layer few budget for. Here is exactly how it splits, transaction by transaction.
MTI upgraded growth to 5.5%. In the worst year on record, home prices still went up.
The Ministry of Trade and Industry has raised its 2026 growth forecast to 4.5% to 5.5%. The instinct is to read that as a green light for property. The record says the link is weaker, and stranger, than it looks.
Hong Heng Garden wants $130 million, and the land next door already set the price.
A small freehold estate on Sembawang Road has launched its first collective sale at $130 million. The interesting number is not the headline, it is the $1,128 psf ppr, and what the state sold the plot next door for ten months earlier.
How to sell your condo in Singapore: the process, the costs and the timing that matters.
How to sell your condo in Singapore, step by step: value it, choose exclusive or non-exclusive, market it, exercise the OTP, then complete in about 8 to 10 weeks. The costs that actually erode your proceeds, and a worked example of what timing alone is worth.
Downgrading from a condo to HDB: what it actually unlocks, and what it costs.
Downgrading from a condo to HDB in Singapore no longer means a 15-month wait, and for most Singapore Citizens it now comes with zero ABSD. What eligibility actually requires, the CPF refund maths, and a worked example of what the move genuinely frees up.
The 2026 forecast is out. Here is the second half it quietly assumes.
PropNex has put numbers on the rest of 2026: private prices up 3% to 4%, around 9,000 new homes sold, HDB resale prices up to 1% higher. PropNex is our agency, so rather than simply repeat the headline, we worked out what it implies. Here is the arithmetic those numbers require of the next five months.
The three mistakes buyers keep making, and the exit test that catches every one of them.
None of them look like mistakes on the day you commit. The headline number looks objective, the unit feels right, and the bank has said yes. Here is how each one actually costs you, what the data says, and the checks that catch all three before the cheque is signed.
How much is my condo worth? Build the number yourself, then check it against a bank.
How much is my condo worth? Not one number, a defensible range: build it from three to five comparable URA transactions, adjusted for floor and size, and it should land close to what an accredited bank valuer would say. Here is the method, where the free online tools mislead you, and a worked example.
The three forces that decide whether waiting pays: capital, rates and replacement cost.
Most buyers are waiting for one number to fall: the price. But three forces sit underneath every price in this market, and right now all three point the same way. Here is the framework, the data behind each force, and the honest case for waiting anyway.
Six quarters of muted growth: is this the upgrader’s window, or a trap?
Private prices have grown at 1% or less for six straight quarters, and HDB resale has now fallen two quarters in a row. That combination is unusual, and it changes the arithmetic of upgrading in a way most sellers have not noticed yet.
Land is the floor: why the next launch is unlikely to be cheaper than this one.
Government land rates have risen about 97% since 2013 and unsold private stock has fallen to 14,929 units. Together they explain why new launch prices rarely fall, even when demand cools, and what that means for anyone waiting for a better entry.
City Plaza is back at $970 million: the en-bloc that missed by 0.7 points returns for round three.
In 2021, City Plaza’s collective sale died at 79.3% consent, a 0.7-point miss. Now the freehold Paya Lebar landmark is on the market again at $970 million, with no ABSD for the buyer, a rezoning path already tested with URA, and a tender closing 13 October. Here is the full read on Singapore’s latest mega en-bloc.
One bid, $1,515 psf ppr: what the Berlayar Drive tender says about the Greater Southern Waterfront.
The Berlayar Drive tender closed on 4 August with a single envelope: Hong Leong Holdings and GuocoLand at $576.78 million, the highest land rate the Greater Southern Waterfront has seen. Few bidders, but a big number. Here is what that twin signal means for the precinct, and for anyone waiting to buy into it.
En-bloc consent thresholds are coming down for older condos. Here is who actually gains.
A Bill tabled in Parliament on 4 August would cut the consent threshold to 70% for estates aged 40 to 59 and 65% for those 60 and up, while making it harder to start an attempt and safer to say no. If you own an older condo, or are eyeing one, the maths of your exit just moved.
Singapore’s H2 2026 condo launches: the pipeline, and what each neighbourhood actually pays.
Eleven projects and around 3,550 units land in H2 2026, and every showflat says it’s the one. This read cuts the noise: the full pipeline, the real launch prices, and how each launch stacks up against the resale, HDB demand, schools and MRT around it, so you can tell the right buy, with a real exit, from the hype.
Singapore’s 5 upcoming EC plots: the last of the 5-year MOP, and how to read them.
Senja Close, two plots at Woodlands Drive 17, Sembawang Road and Miltonia Close are the last Executive Condominiums you can buy with a 5-year MOP, every tender closed before the 8 May 2026 rule change. That one fact should shape how you read the locations, the exit, and whether to wait at all.
Developers just got more time on big en-bloc sites. Why it matters if you own in an ageing estate.
On the same day it lifted the 15-month wait-out, the Government gave developers of large collective-sale sites up to 6–7 years to build and sell, not a rate cut, but a targeted de-risking of exactly the big, ageing estates that had stopped selling en bloc.
The 15-month wait-out is gone. What it means for HDB and private resale prices.
From 28 July 2026, private-property owners can buy a resale HDB flat with no waiting period. The measure that cooled the top of the HDB market for nearly three years is lifted, deliberately, against an incoming wave of flat supply. Here is who it affects and where prices actually move.
How to structure bridging finance: fund the next home before the last one sells.
A bridging loan buys you time between buying and selling, usually up to six months, in one of two forms. Used well it protects your move; used as a stretch, it turns a timing problem into a cash-flow risk. How to structure it around a credible exit.
How much do you need to earn to buy a condo in Singapore?
A quick answer: roughly S$9,800 a month for a S$1.5m condo, S$13,100 for S$2m, S$16,300 for S$2.5m, at a 75% loan and no other debt. But the income that gets the loan approved isn’t the number that gets the deal done.
Tan Boon Liat sold for $950m. The lesson isn’t the price, it’s the rezoning.
Singapore’s largest collective sale since 2018. But the value didn’t come from the building, it came from an eight-month rezoning study and a reserve price that finally came down. What it actually signals for owners.
How to choose a property agent in Singapore: check the record, not the pitch.
There are 36,816 registered agents here. CEA publishes their transaction history, their awards and their disciplinary record: free, searchable by mobile number, in about three minutes. Here is how to check, what to ask, and which red flags are actually against the rules.
Singapore property, Q2 2026: prices cooled, and the split got sharper.
Private home prices rose just 0.5% (the slowest in seven quarters) and HDB resale slipped again, yet million-dollar flats hit a record. The Q2 2026 numbers, and what PropNex expects for the rest of the year.
Single vs joint ownership in Singapore: whose name should be on the deed?
The name on the title shapes your borrowing power, CPF, control, property count and estate, and it’s costly to unwind. Single vs joint ownership, joint tenancy vs tenancy in common, and how to choose.
TDSR and MSR explained: how much can you actually borrow in Singapore?
Your budget can look fine and still fail at the bank. How the 55% TDSR and 30% MSR set your loan limit, why banks stress-test at 4%, and a worked example of what your income really supports.
Buying property in Singapore as a foreigner or PR: the rules, the taxes, the process.
Your residency status decides what you can buy, what it costs in stamp duty, and how you finance it. The current ABSD rates, what foreigners and PRs can actually purchase, the FTA exemption most people miss, and the buying process, in the right order.
New EC rules 2026: the 5-year flip is over. Here’s what actually changed, and what it means.
On 8 May 2026 the Government doubled the EC minimum occupation period to 10 years, scrapped the deferred payment scheme and reserved 90% of new units for first-timers. The real impact on access, cash and resale, and how to think about your move.
Interest rates and your next upgrade: it’s the sensitivity, not the rate.
A half-percent move can redraw an upgrade, through loan quantum, holding power and timing, not just the monthly payment. When rates should change your move, and when they shouldn’t.
Singapore Property 2H 2026: The Market Is Splitting. Here’s What It Means
Not booming, not crashing. Splitting. Our straight-talk read on the second half: five calls on HDB, private prices, rates and supply, and the moves that actually matter.
Why Singapore’s HDB resale market is cooling, and where it’s headed.
Resale prices have plateaued and volume is sliding, just as BTO supply surges past 55,000 flats. The forces behind the slowdown, and what it means if you’re buying, selling or upgrading.
The endowment effect: why owners overprice, and miss the better move.
We value what we own more than the market does. In property, that quiet bias costs you: overholding a plateauing asset while a better move slips away.
The V-shape strategy: enter near the bend, exit into strength.
Markets dip and recover in a V. The discipline isn’t calling the exact bottom, it’s entering near the bend with margin, and positioning to exit into the next upcycle.
Singapore condo market trends that matter.
The market isn’t simply up or down, it’s repricing by segment, district and buyer. The trends that decide whether your condo holds its value, and exits cleanly.
Condo entry timing: how to buy at the right moment.
Good timing isn’t catching the bottom. It’s entering with enough margin that the home still works if the market doesn’t. Here’s the test we run before any condo purchase.
New launch vs resale condo: which wins?
A glossy showflat or a lived-in unit? The real question isn’t which one feels nicer, it’s how the price, the timing and the eventual exit line up with your next ten years.
Off-market condo deals in Singapore: what buyers are really buying.
A buyer hears about an unlisted condo, sees no public competition, and assumes there’s hidden value. But privacy and value aren’t the same thing. Here’s how to tell a genuine off-market deal from a premium for secrecy.
Singapore residential property advisory: making the move that strengthens your position.
A property decision can look sensible on paper and still leave you weaker five years on. The real question isn’t whether you can buy, sell or upgrade today, it’s whether the move leaves you stronger for the next one.
Private condo project analysis in Singapore: how to tell a safe buy from a pretty one.
A glossy showflat can hide a weak asset. The gap between a pleasant purchase and a genuinely safe one comes down to a few quiet things: entry price, supply, land cost, unit mix, and who buys from you later.
How to avoid overpaying for a condo, even after a hard negotiation.
A condo can look well-priced and still be expensive. Overpaying isn’t about paying the most in a project, it’s paying more than the place can justify. Here’s how to keep your price honest.
Property portfolio planning in Singapore: it’s the sequence, not the unit.
Most buyers obsess over the next unit. The owners who pull ahead plan the whole path (buy, upgrade, hold or sell, exit) so each move keeps the next one open.
Sell first or buy first? The order that makes or breaks your upgrade.
Most upgraders agonise over which home to buy. The bigger question is the order you do it in, sell first or buy first decides your cash, your tax and your bargaining power.
ABSD when upgrading property in Singapore: the tax that decides your sequence.
Upgraders fixate on the price of the new home and miss the real catch. ABSD. Buy before you sell and you may pay 20% upfront on the second home, refundable only if you sell in time. Here’s how to get the order right.
Property loan planning for upgraders: sort the money before you fall for the house.
Most upgraders pick the condo first and squeeze the loan to fit. In Singapore (with ABSD, CPF refunds and a flat to sell) that’s backwards. Here’s how to plan the money first.
CPF usage for a condo purchase in Singapore: how much you can use is the wrong question.
CPF can shrink your cash outlay today and quietly tighten your next move tomorrow. The rules that cap it, the 2.5% accrued interest that follows it, and how to size it to the asset.
Singapore micro-district property trends: same postcode, different outcomes.
Two condos can share a district number, launch months apart, and still diverge by years of gains. The edge has moved from district branding to pocket selection, here’s how to read it.
Too many 2026 launches? Choose for the next move, not the loudest one.
The final wave of 2026 launches isn’t short of options: prime boutique, a mega-development, a cluster of ECs. The scarce thing is a way to choose. Here’s the framework, and what the new EC rules quietly change.
How to choose a condo investment property: judge the exit, not the brochure.
A good investment condo is one that still holds up when the market turns selective. The framework (entry price, tenant depth, resale audience and unit choice) that decides it long before you fall for the showroom.
Singapore Property Exit Strategy That Holds Up
Most owners plan the entry and barely the sale, and that is where the margin is won or lost. A Singapore property exit strategy is set at purchase, not at the moment you list.
Size Adjusted Condo Performance Explained
Two units, same condo, same market. The bigger paper profit can still be the weaker asset. Why size-adjusted performance, not headline psf, is the honest way to compare Singapore condos.
Best condo for capital appreciation: the question is decided before the shortlist.
The number buyers chase is downstream of four older choices: entry price, future demand, competing supply and a believable resale audience. Get those right, and the project answer falls out on its own.
How to Upgrade From HDB to Private Property, and When You Shouldn’t
Upgrading from HDB to private property is a balance-sheet event, not just a change of address. Here is how to do it without trapping your equity, and how to know when you shouldn’t.
HDB to Condo Upgrade Strategy That Holds Up
A disciplined HDB to condo upgrade strategy starts with equity, CPF, loans, timing and project selection, not emotion or showroom hype. Here is how to upgrade without trapping your equity.
9,200 homes are in the pipeline. Where they land says more than the number.
The 2H 2026 Government Land Sales slate is out. Strip away the headline supply figure and it quietly tells you which neighbourhoods the state is building up, where new launches will cluster, and which buyers just got more choice. Here is our plain read, in numbers you can use.
Anyone can buy a home. Few buy the strongest performer on the street.
Choosing the area is the easy part. Everyone can read a map. Knowing which project in that area actually holds its value and exits cleanly is the part you don’t want to guess. Here’s how we stop guessing.
Why a great location can still be a bad buy.
Location gets you into the room. It rarely gets you out at the price you imagined. Using the 2025–2026 numbers, here is what actually decides a Singapore condo’s exit.
CCR vs OCR in 2026: the prime discount nobody wants to name.
For two years running, the suburbs out-gained the prime districts. Whether that gap is your opportunity or your trap depends entirely on which question you are buying to answer.
The HDB-to-private upgrade, costed honestly for 2026.
TDSR, a 20% ABSD with a six-month clock, and a softer HDB resale market. The upgrader maths has tightened. Here is what the move actually costs, and when it still makes sense.
The safe exit under $2 million.
Two million dollars is the most crowded band in the market. Some of those buys exit cleanly. Some quietly trap you. The difference is rarely the showflat.
The 4% rental-yield myth.
Singapore private yields run closer to 3% gross, and less once the costs come out. If rental income is part of why you are buying, the numbers deserve a colder look.
A note from us
We write because clarity, once put down, is harder to walk back. The journal is a way of holding ourselves to the thesis.