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A short history of the Singapore property market

FreeFlowchart

Two housing segments are joined by upgrading and downgrading

FreeFlowchart

Two housing segments are joined by upgrading and downgrading

MOP = minimum occupation period

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Two housing segments are joined by upgrading and downgradingMOP = minimum occupation periodHDB public housing. Built by HDB, set up Feb 1960. About 8 in 10 residentsHDB public housingBuilt by HDB, set up Feb 1960About 8 in 10 residentsPrivate housing. Built by developers. Smaller, higher-pricedPrivate housingBuilt by developersSmaller, higher-pricedUpgrade: sell at market price after the MOP (usually 5 years)Downgrade: sell, then buy an HDB flat if you meet the rulesPrivate owners who buy a non-subsidised HDB resale flat: 15-month wait from Sep 2022.Since Jul 2026 there is no wait if they use no HDB loan.Prices and demand in one segment affect the other.

Source: HDB and MND rules as at October 2026.

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Two housing segments are joined by upgrading and downgrading
StepDetailLeads to
HDB public housingBuilt by HDB, set up Feb 1960. About 8 in 10 residentsPrivate housing (Upgrade: sell at market price after the MOP (usually 5 years))
Private housingBuilt by developers. Smaller, higher-pricedHDB public housing (Downgrade: sell, then buy an HDB flat if you meet the rules)
Topic
A short history of the Singapore property market
Segment
The overall market
Chart type
Flowchart
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A short history of the Singapore property market

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