For years, landed owners who wanted to right-size into an HDB flat had to sell first and rent in between. That obstacle is gone, prices are at a record, and very few new landed homes are being built. Here's what that combination could mean for 2027.
Since 28 July 2026, private property owners can buy a non-subsidised HDB resale flat without first waiting out 15 months. Realion's Christine Sun expects this, together with record prices, to bring more landed homes to market in 2027, especially from retirees looking to right-size.
Plenty of landed owners in their sixties have wanted to sell for a while. The house is too big, the stairs are getting harder and most of their wealth is tied up in one asset. Many held off for a practical reason that had nothing to do with price.
Under the 15-month wait-out rule, a private owner who wanted to move into an HDB resale flat had to sell first and then wait 15 months before buying. That meant renting, or moving in with family, and moving house twice. For a retiree, that was enough reason to stay put.
Since 28 July, private property owners can buy a non-subsidised HDB resale flat without serving the 15-month wait-out. They can buy the flat first and move straight in. In a Straits Times commentary, Realion (OrangeTee and ETC) chief researcher Christine Sun argued that this is what could tip many landed owners into selling, and that the effect will show up mainly in 2027.
Two conditions still apply. You must sell your private property, including any overseas property, within six months of completing the HDB resale purchase. If you buy a BTO flat, take a CPF housing grant for the resale flat, or take an HDB housing loan, the 30-month wait-out still applies. I covered how this works for retirees in my rightsizing guide.
Yes. URA's landed price index reached a new high in Q2 2026 after rising 7% year on year. That beat condominium price growth in every region over the same period: 0.5% in the core central region, 0.6% in the city fringe and 3.9% in the suburbs. The Q3 flash estimate released on 1 October showed landed prices up another 2.8% in a single quarter, and Knight Frank's Leonard Tay put the rise for 2026 so far at 4.9%.
| Landed market, 2026 | Figure |
|---|---|
| Landed homes (ex-strata) sold for S$5m or more, Jan–Aug | 741 units (58.4%) |
| Landed homes sold for S$10m or more, Jan–Aug | 151 units |
| Median resale landed price, Jan–Aug | ~S$5.3m (+9.3% y-o-y) |
| Median new landed price, Jan–Aug | S$6.26m (+27.1% y-o-y) |
| Landed homes sold in Q2 2026 | 523 (vs 449 in Q1) |
| Share of landed sales in the secondary market, Jan–Aug | 94.1% (1,194 units) |
Demand has kept pace with prices. 523 landed homes sold in Q2 2026, up from 449 in the previous quarter and 452 a year earlier. 2025 saw 1,888 landed sales, the highest in four years. The busiest districts for resale landed homes from January to August were District 19 (Serangoon Garden, Hougang, Punggol, Sengkang) with 205 transactions, District 15 (Marine Parade, Katong, Joo Chiat, Siglap, Tanjong Rhu) with 161 and District 20 (Thomson, Sin Ming, Ang Mo Kio, Braddell, Bishan) with 107.
Very few are being built. Fewer than 100 brand-new landed homes have sold each year since 2019, less than 6% of all landed transactions over the past five years. Most supply comes from boutique developers who buy older houses for around S$3.5 million to S$4 million, demolish them and rebuild homes that sell for S$6.5 million or more. Master-planned enclaves from established developers, such as Bukit Sembawang Estates' Luxus Hills and Pollen Collection II, are rarer still.
Buyers pay a premium for skipping the work. Rebuilding a house yourself means architects, engineers, contractors and permits, and it takes years. That premium shows up in the numbers: the median new landed price rose 27.1% to S$6.26 million in the first eight months of 2026, against 9.3% for resale landed homes. I looked at the economics of rebuilding in more detail in this piece on landed rebuilds.
Sun identified three groups of buyers: HDB upgraders, mature families with high incomes, and cash-rich new citizens. She also noted that recent changes to collective sale rules, which lowered consent thresholds for older developments, could create a fresh group of owners with sale proceeds big enough to move up to landed. I covered that reform in this en bloc article.
The wave hasn't arrived yet. HDB said it has not seen a significant rise in prices or in the number of resale flats bought by private property downgraders since 28 July. Sun told The Straits Times separately that transactions take time to complete, even though buying interest from private owners has risen noticeably. That fits a 2027 timeline rather than an immediate surge.
Before you commit to an HDB flat with a six-month deadline to sell, work out your net proceeds: outstanding loan, CPF refund with accrued interest, agent fees and any seller's stamp duty. The private sale proceeds calculator does this in a couple of minutes.
Open the sale proceeds calculator →The rule change makes the order easier. Owners can now buy the flat first and sell the house afterwards. But it adds a deadline. Six months goes quickly for a landed home, because far fewer buyers can afford S$5 million than S$1.5 million. Each house is also different, which makes pricing it harder than pricing a condo unit with a dozen comparable sales in the same block.
If you own landed and are thinking of right-sizing, get a realistic valuation and have the house ready to list before you commit to a flat. Check your stamp duty position too. Depending on your profile, ABSD may be payable on the flat upfront and refunded only if you qualify for remission and sell in time. Selling in a rush because a deadline is approaching is the most expensive way to sell a landed home.
If you're buying landed, more supply in 2027 should give you more choice, especially in established estates where retirees own many of the houses. These sellers aren't usually distressed, though, and record prices aren't going to fall just because more homes are listed. Expect more choice rather than bargains.
Own a landed home and wondering whether 2027 is your window to right-size, or looking to buy landed? Let's look at your numbers and your timeline.
WhatsApp Bryan → More guides →Sources: The Straits Times, 4 October 2026, "Why more people may be selling and buying houses in 2027" by Christine Sun, chief researcher and strategist of Realion (OrangeTee and ETC) Group; The Straits Times, 2 October 2026, "HDB Q3 resale prices dip despite lifting of 15-month wait-out period" by Isabelle Liew (HDB comment, Q3 flash landed figure). Figures are as reported and based on URA data; the Q3 figures are flash estimates. See also the landed market in H1 2026. This article is for informational purposes only and does not constitute financial advice.
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