SINGAPORE — Mr Darren Lim, 42, is looking to move from his four-room HDB flat in Punggol to a two-bedroom condominium soon.
One push factor: There are no swimming pools near his current home.
“Access to facilities is one of the main reasons we are looking to upgrade,” said Mr Lim, who is married with no children.
He and his wife have been looking at new condos in the Katong and Siglap areas since his Build-To-Order flat reached its minimum occupation period about five years ago.
The cybersecurity consultant added that although prices of private property have risen, the current low interest rates make buying such a home more palatable.
“We intend to live in it for the long term, and we’re also viewing it as an investment since property is always appreciating,” he said.
Mr Lim’s aspirations are shared by many in his demographic, according to a new survey by local property platform PropertyGuru.
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The company polled about 2,000 Singaporeans and permanent residents in November and December 2025 for its annual survey, which was published on April 20.
It found that higher-income working couples with no children — colloquially known as Dinks, which stands for “dual income, no kids” — are still keen to buy private property despite rising home prices.
A third of this group said they were planning to buy a property in the next 12 to 18 months. Of these, 44 per cent were looking to buy condo units.
In contrast, 73 per cent of those aged 55 and older said they had no plans to move.
Among DINK couples aged 30 and above with a monthly combined income of at least $10,000, four in 10 of those looking to buy a private home preferred new condo units.
For half of these couples with private property in mind, potential gains in value were a key consideration.
Dr Yao Lu, PropertyGuru’s managing director, said the findings show that such couples value lifestyle choices and long-term asset growth, as they have more disposable income.
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Mr Eugene Lim, key executive officer of property agency Era Singapore, said this option is especially appealing if a couple’s combined income has exceeded the ceiling for buying a new Housing Board flat. This threshold is currently $14,000.
“On the one hand, they would have a comfortable home of their own. On the other, they can accumulate wealth over time, so long as Singapore’s property market and wider economy maintain their steady growth,” he said.
The median per sq ft (psf) prices for new condo launches has surged over the years, from $1,694 psf in 2020 to $2,572 psf in 2025.
PropertyGuru’s survey found that private housing is also popular among younger, higher-income singles.
Four out of 10 singles aged 30 to 34, with incomes of at least $10,000 a month, said they were interested in such properties, especially two- and three-bedroom condo units.
Ms Christine Sun, chief researcher and strategist at property firm Realion (OrangeTee & ETC) Group, said these aspirations have been borne out by what the company’s agents have observed in recent years.
“(Such singles) could be drawing high salaries and are working in the financial, biomedical and tech-related fields. Others could be lawyers, doctors and bankers,” she said.
The PropertyGuru survey also showed that 54 per cent of singles aged 35 to 39 who earn at least $10,000 a month preferred to buy four-room HDB flats.
ERA’s Mr Lim said singles may gravitate towards larger units for a more flexible living space, “should there be any changes in their relationship status or household composition in the longer term”.
Between 2019 and 2024, the proportion of singles rose across almost all age groups for both men and women.
Among those aged 30 to 34, 37.5 per cent of women and 47 per cent of men remained single.
PropertyGuru said its latest survey showed that singles have started to re-enter the property market owing to lower interest rates.
Its survey in the second half of 2023 showed heightened caution among singles, especially those aged 35 and above.
“Many delayed purchases were due to high interest rates and inflation pressures. This was especially pronounced among singles, as (they are) more sensitive to financing costs and economic uncertainty,” the company said.
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Now, singles are weighing trade-offs more carefully and are considering price, timing and housing type with greater scrutiny, rather than “rushing in simply because rates have improved”.
Ms Esther Lam, 34, bought a 700 sq ft two-bedroom unit in Springleaf Residence at $1.4 million when it launched in 2025.
The finance manager said that at $2,000 psf, the price for the Upper Thomson condo was attractive compared with those of other newly launched condos.
In 2025, median psf prices for new condo launches stood at $2,254 psf in the suburban Outside Central Region.
“A two-bedroom unit is a good size — I have the flexibility to rent out a bedroom if I choose to. And if I were to sell, a two-bedder generally has better demand than a one-bedroom unit,” she said.
Added Ms Lam, who is living in an HDB flat with her parents: “The price was right and I like the location.
“I’m not in a rush to move in, so I would rather buy a brand-new place even if I have to wait four years for it to be ready.”
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This article was first published in The Straits Times. Permission required for reproduction.
