Singapore Property Affordability Report 2026: What Can You Actually Afford?
Last updated: September 2026
Buying a property in Singapore is not simply about asking, “Can I afford the monthly instalment?”
A buyer also needs to consider the required downpayment, available CPF, cash reserves, Buyer’s Stamp Duty, existing debt commitments and how much housing loan the bank is prepared to grant.
This guide provides an indicative picture of what buying a S$1 million, S$1.5 million, S$2 million, S$2.5 million or S$3 million private residential property could look like in 2026.
The 2026 financing rules buyers should understand
For a property loan, Singapore’s Total Debt Servicing Ratio, or TDSR, generally limits total monthly debt repayments to 55% of gross monthly income.
For a borrower with no outstanding housing loan, a bank housing loan can generally be up to 75% of the property’s value, subject to the borrower’s age, loan tenure, credit assessment and other lending requirements.
At a 75% loan-to-value ratio, at least 5% of the purchase price generally needs to be paid in cash. See MoneySense’s property affordability guide for the prevailing framework.
Singapore Citizen buying a first residential property; no existing housing, car or personal loan; 75% bank financing; 30-year loan tenure; 4% stress-test interest rate; no ABSD; purchase price equal to valuation.
What different property budgets could look like
| Property Price | 75% Loan | Minimum 5% Cash | Remaining 20% Cash/CPF | Estimated BSD | Approx. Initial Funds incl. BSD* |
|---|---|---|---|---|---|
| S$1.0M | S$750,000 | S$50,000 | S$200,000 | S$24,600 | S$274,600 |
| S$1.5M | S$1,125,000 | S$75,000 | S$300,000 | S$44,600 | S$419,600 |
| S$2.0M | S$1,500,000 | S$100,000 | S$400,000 | S$69,600 | S$569,600 |
| S$2.5M | S$1,875,000 | S$125,000 | S$500,000 | S$94,600 | S$719,600 |
| S$3.0M | S$2,250,000 | S$150,000 | S$600,000 | S$119,600 | S$869,600 |
*Before legal fees, valuation fees, renovation, moving costs and other transaction expenses.
Buyer’s Stamp Duty is calculated progressively. Check the latest rates with IRAS.
Which new-launch projects could fit each budget?
These are illustrative examples based on recent 2026 pricing. Developer prices, promotions and balance-unit availability can change quickly, so use the figures as a starting point rather than a live quotation.
Around S$1.0M
Narra Residences launched with one-bedroom-plus-study units from around S$998,000, making it one of the more relevant projects to investigate around the S$1 million mark.
What to check: whether entry-level units remain available and whether the smaller layout meets your own-stay or investment needs.
Around S$1.5M
Dunearn House launched from about S$1.475 million, while Hudson Place Residences has also had smaller configurations around the mid-S$1 million range.
What to compare: centrality, unit efficiency, tenure, nearby amenities and whether stretching slightly above S$1.5 million materially improves your options.
Around S$2.0M
River Modern has had two-bedroom units from around S$1.86 million, while eligible buyers comparing an Executive Condominium can also look at larger configurations at Coastal Cabana.
What to compare: central private-condo convenience versus the larger-space proposition of an EC, while accounting for EC eligibility requirements.
Around S$2.5M
Lentor Gardens Residences has three-bedroom premium configurations in the low-to-mid S$2 million range, while Vela Bay offers another comparison for buyers considering the East Coast and Bayshore growth story.
What to compare: family-sized layout, MRT connectivity, future supply, view orientation and total monthly carrying cost.
Around S$3.0M
At this level, buyers can compare three-bedroom options at River Modern with larger or higher-floor choices at Dunearn House and selected configurations at Vela Bay.
What to compare: prime-city location versus unit size, district transformation, future resale competition and how much liquidity you want to retain after purchase.
How much income might be needed?
For a simple illustration, assume the full 75% loan is assessed over 30 years at a 4% stress-test rate and the buyers have no other debt.
| Property Price | Illustrative Loan | Stress-Test Monthly Repayment | Approx. Gross Monthly Income at 55% TDSR |
|---|---|---|---|
| S$1.0M | S$750,000 | ~S$3,581 | ~S$6,510 |
| S$1.5M | S$1,125,000 | ~S$5,371 | ~S$9,765 |
| S$2.0M | S$1,500,000 | ~S$7,161 | ~S$13,020 |
| S$2.5M | S$1,875,000 | ~S$8,952 | ~S$16,276 |
| S$3.0M | S$2,250,000 | ~S$10,742 | ~S$19,531 |
These income figures are deliberately simplified. Existing debt consumes part of the 55% TDSR allowance and can reduce the housing loan available to you. Banks also perform their own credit and income assessment.
Example: buying a S$2 million condo
At 75% financing, the estimated housing loan is S$1.5 million and the 25% downpayment is S$500,000.
At least approximately S$100,000 represents the 5% minimum cash component under these assumptions. The remaining S$400,000 may potentially be funded using CPF Ordinary Account savings and/or additional cash, subject to CPF housing rules.
Estimated Buyer’s Stamp Duty is approximately S$69,600, bringing downpayment plus BSD to roughly S$569,600 before legal and other costs.
CPF does not mean “free money”
CPF Ordinary Account savings can generally be used for eligible property purchases, but the usable amount depends on the property, remaining lease, financing structure and CPF housing rules.
Ask two separate questions: How much CPF do I have? and How much CPF am I actually allowed to use for this property? Check the latest rules with CPF Board.
Don’t forget ABSD
The examples above assume a Singapore Citizen buying a first residential property, where ABSD is currently not applicable. Different rates apply to second and subsequent properties, Permanent Residents, foreigners and entities. Confirm the latest rates with IRAS.
The biggest affordability mistake I see
One of the most common mistakes is starting with the property: “I like this S$2.2 million condo. Can I buy it?”
I prefer to reverse the process:
Income → existing debt → loan → CPF → cash → purchase budget → suitable properties.
Maximum affordability is not always comfortable affordability
Being technically eligible for a property does not necessarily mean it is the right budget. Leave room for renovation, furniture, emergency savings, children’s expenses, insurance, investments, maintenance fees, property tax and possible interest-rate changes.
Before viewing your next property
A useful affordability assessment should consider household income, existing loans, available cash, CPF Ordinary Account balance, estimated housing loan, Buyer’s Stamp Duty, potential ABSD and monthly mortgage.
Once these numbers are clear, compare projects based on what genuinely fits your finances rather than simply looking at advertised starting prices.
Calculate your property affordability
Use the See Property with Sean See Property Affordability Calculator to estimate your property budget and receive a personalised affordability overview.
You can also browse Property Insights or compare Singapore new-launch condo projects.
About Sean See
Sean See is a Singapore property agent with SRI PTE. LTD. who works with buyers, homeowners and investors on property affordability, new-launch selection and residential property transactions.
CEA Registration: R001856F
Estate Agent: SRI PTE. LTD.
CEA Licence: L3010738A
Important: The figures in this article are general illustrations and should not be regarded as financial, mortgage, legal, tax or investment advice. Loan eligibility, CPF usage, project pricing and transaction costs vary according to individual circumstances. Buyers should reconfirm the latest project prices and availability and verify prevailing financing and regulatory rules before committing to a property purchase.