SINGAPORE: Three in four Singaporeans still prefer owning a home over renting, as many continue to see homeownership as a reflection of stability, identity, and independence, according to ERA Singapore’s My Dream Home Survey 2025.
Singaporeans acknowledge that a home is an important space for the family to grow and thrive, as well as a space that reflects their independence and personality, the report said, which may partly suggest why the October Build-to-Order (BTO) sales exercise drew three times the number of flats launched.
In a Facebook post on Wednesday (Oct 22), National Development Minister Chee Hong Tat said that as of 5 p.m., they had received 31,095 applications—three times the number of 9,144 Standard, Plus, and Prime flats launched across 10 projects.
Confidence in public housing affordability remained firm, with 51% of respondents saying BTO flats are still affordable, while 51% said the same about resale Housing and Development Board (HDB) flats. However, only 13% said the same about new private housing, and private homes (16%).
Still, Singapore’s property market remains stable, with over half of respondents viewing their homes as a long-term investment and a way to build financial security.
The report noted that upgraders have been a “key driving force” in the private residential market over the past two years, supported by rising property values that have allowed many to capitalise on their existing assets.
For younger Singaporeans, BTO flats remained an important first step toward homeownership.
Notably, 68% of respondents plan to buy a home in the next three to five years, with 44% intending to make a purchase within three years, while another 30% planning to do so in three to five years.
Of those planning to buy a home within three years, 23% are eyeing new condos, up from 18% last year, while 14% are looking to buy executive condos (ECs), up from 12% in the same period.
The proportion of those looking for landed homes remained stable, and interest in BTO flats held strong, though interest in resale HDB flats declined to 20% from last year’s 28%, amid ageing leases. /TISG
Featured image by Depositphotos (for illustration purposes only)
