Should Foreign Owners Hold or Exit Singapore Property in 2025?

If you're a foreign property owner in Singapore, you've probably asked yourself lately: "Should I hold on, or is it time to exit?" For years, Singapore has been the "safe haven" of Asia — stable, strong, politically predictable. But the tone of the market has changed. The 60% Additional Buyer's Stamp Duty (ABSD) for foreign buyers has redrawn the playing field. CCR luxury condo transactions have dropped over 30% year-on-year since the 2023 cooling measures; prime rents have softened around 6–8%; and many foreign owners are quietly cashing out, because re-entry is simply too expensive.

The 60% ABSD — A Wall Too High for Re-Entry

In 2023, Singapore raised the ABSD for foreigners to 60% — the highest in the world for residential real estate.

The difference between 30% and 60% doesn't just double your tax — it destroys your yield calculation. Buying a S$3m condo now costs S$1.8m in tax alone. Even at 5% appreciation a year, it could take over a decade just to break even on that tax. That's why many owners now think: "If I sell now, I can redeploy my capital where I can actually grow it."

The Luxury Market Reality: Demand Is Cooling

If you own in Orchard, Tanglin, River Valley or Sentosa, you've probably noticed listings staying longer, quieter viewings and rents no longer surging. Overall private home prices rose only 2.8% year-on-year, the slowest since 2020. Foreign buyer share of new launches fell below 2%, down from 7% before the hike. Luxury CCR rents softened about 6–8% since their 2023 peak.

For a 1,000 sqft unit at S$8 psf, a 6% decline is roughly S$500 less per month — about S$6,000 a year in lost rental income. Still, globally, Singapore's rental market remains one of the most stable and sought-after. This is healthy normalisation, not a crash.

Resale Market Outlook — Limited Upside Ahead

Resale demand for foreign-owned luxury units has slowed, especially those bought 2017–2021: price growth is a modest ~3–4% for 2025; resale ABSD exposure deters new foreign buyers; locals and PRs prefer brand-new launches; and high interest rates (~3.5–3.8%) make holding costly. High entry tax + low yields + local buyer dominance = less upside for foreign-owned resale units.

So… Should You Hold or Exit?

There's no one-size-fits-all answer. Here's how I frame it with clients:

I'm not telling you to panic — I'm telling you to think strategically. Holding is fine; holding blindly is not.

Singapore Investors Are Quietly Moving Capital Abroad

Over the past year I've seen more Singapore-based investors shifting capital abroad than at any point in the last decade. Singapore's outbound real estate investment hit US$3.9 billion in the last 12 months, ranking among the top 5 global sources of cross-border capital in 2025 — and over 80% of that money stayed within Asia-Pacific. Per the 2025 HSBC Global Wealth Report, over 48% of affluent Singaporean investors plan to expand their property portfolios overseas in the next 12 months.

You don't have to "leave Singapore." You just have to think globally — letting your money work in more than one market. If you're unsure whether to keep, sell or reinvest abroad, let's talk. Timing matters more than ever.