By Gavan Lee: Singapore Landed Property Specialist, PropNex Top Landed Transactor 2025. Gavan leads the Gavan Lee Division at Eminence Landed and has transacted across every major landed district since 2013. Analysis built on The Landed Ledger, verified URA Realis caveat data.
Two full years of data, half a year of fresh signal, and a straight read on where landed prices go from here.
Where the Landed Market Is Today Against 2024 and 2025
Here’s the one-line version: the landed market did not cool, it climbed. Halfway through 2026, average transacted PSF has cleared $2,030 — up from $1,910 in 2025 and $1,807 in 2024 — and volume is running at a pace that annualises right back to where it was two years ago. Fewer bargains, higher prices, buyers still showing up. Let me show you the numbers.
1. The three-year price line only goes one way
Strip away the noise and the story is simple. Average PSF across all landed types has risen every year, and 2026 has extended the trend rather than broken it. The market broke $2,000 PSF for the first time at the tail of 2025; in 2026 that is no longer a ceiling, it is the floor.
2. Volume normalised, then steadied — it never collapsed
This is the point most headlines miss. 2024 logged 1,937 caveated landed deals; 2025 eased 7% to 1,802. Through the first five full months of 2026, the market is averaging about 162 deals a month — which annualises to roughly 1,940, essentially back to the 2024 level. A market that holds its transaction count while prices rise is a market with real demand underneath it, not a speculative spike.
3. The centre of gravity has shifted up — the sub-$3M landed deal is vanishing
In 2024 the market’s core was the $3–4M band. By 2025 it had moved to $4–5M. In 2026 it has moved again: the $5–7M band is now the single largest, and the $4–7M range together accounts for the clear majority of activity. Meanwhile sub-$3M landed has thinned to a trickle. The “cheap” landed entry point is closing in real time.
MY READ
If you’re advising a family upgrading from a condo, the $5–7M freehold band is now the deepest buyer pool in Singapore. That’s where condo equity is being traded into land. Price a good asset in that range with confidence — the buyers are there and they are committing.
4. Every property type appreciated — and the mix is telling
Terraces remain the engine at roughly 58% of all deals, but semi-detached has held its gains in share as upgraders stretch for more land. Detached homes posted the sharpest PSF jump in 2026. Every single type is up year on year.
5. The freehold premium keeps widening — this is the real signal
If you take one thing from this issue, take this. The PSF gap between freehold and leasehold landed has widened every year, across every type. Freehold scarcity isn’t a talking point; it is compounding in the data.
6. District intelligence — D15 is the story
D19 (Serangoon/Hougang) remains the volume king — the easiest comps and fastest sales in landed. But the standout is District 15 (East Coast/Katong): it overtook D28 for the #2 volume spot in 2025 and has kept climbing on price. D15 average PSF has gone $2,133 → $2,257 → $2,517 across the three years. That is the rare district where liquidity and price strength are rising together.
MY READ
D15 is where I’d want to own right now if the goal is both appreciation and an exit when I need one. $2,517 PSF and still the #2 most liquid district in the country is a combination almost nowhere else offers. If you hold East Coast or Katong landed, the last three years were good to you — and the data says it isn’t finished.
Gavan Lee is a Singapore landed property specialist with PropNex and a PropNex Top Landed Transactor 2025. Since 2013 he has transacted across every major landed district, from inter-terraces to Good Class Bungalows. He leads the Gavan Lee Division (GLD), an 12-agent specialist team, manages Eminence Landed, and publishes landed market analysis through The Landed Edge. Reach him at gavan.co or +65 9780 7720.
next up… Part 2/2: The Market Outlook & my straight talk take on what you should do.