Written answer by Ministry of National Development on data on Transactions Related to and Composition of Owner-occupied and Investment Properties in Private Residential Market

Feb 4, 2025

Question No: 7158

Question by: Mr Louis Chua Kheng Wee

To ask the Minister for National Development (a) in each year over the last five years, what is the breakdown in the number and value of primary sale and secondary sale transactions in the private residential market that is for the purpose of owner-occupied property versus investment property; and (b) whether the Government has observed any changes in of owner-occupied and investment properties in the private residential market in the last five years.

Answer:

From 2020 to 2024, the increase in owner-occupied private residential properties was more than three times the increase in non-owner-occupied private residential properties. In 2020, the number of owner-occupied and non-owner-occupied private residential properties were around 236,000 units and 166,000 units respectively. This increased by around 27,000 units to 263,000 owner-occupied units, and by around 8,000 units to 174,000 non-owner-occupied units in 2024.

The larger increase in the number of owner-occupied private residential properties can be attributed to the measures we had introduced over the years to prioritise housing purchases for genuine owner-occupation, such as raising of Additional Buyer’s Stamp Duty for purchase of second and subsequent properties.

It is not meaningful to compare data on owner-occupied private residential properties between primary and secondary sales, given that a large proportion of primary sales involve uncompleted units that do not have owner-occupation status.