Number of Singapore residents living in private condos doubles over last 15 years

[SINGAPORE] The number of Singapore residents – including both citizens and permanent residents – living in condominiums and other private apartments doubled in the last 15 years, driven by upgrader buying, higher incomes, and shifting preferences.

Data on ownership reflects the same trend – the number of resident households owning the condos and apartments they live in grew from 90,942 in 2009, to 220,756 in 2024, an increase of almost 2.5 times or 129,814 households.

Much of condo buying in the past has been fuelled by upgraders cashing out on their Housing and Development Board (HDB) flats into a booming resale market.