Rising incomes, easy credit and new launches draw a wave of millennial and Gen Z property investors.

A growing number of Singaporeans under 35 are treating private homes as investment assets rather than just places to live, even as banks and agents warn them not to underestimate long-term risks and costs.

Data Shows Surge In Under-35 Home Loans
Singapore’s three local banks report brisk growth in home loans taken by borrowers under 35. DBS saw a 40 per cent jump in loans to this age group between 2024 and 2025. UOB says loan volumes for customers 35 and below have risen more than 15 per cent year on year since 2023, with the average loan amount for this cohort climbing about five per cent annually and surpassing S$1 million in the last two years. OCBC recorded a 36 per cent rise in singles buying private properties for investment in 2025, with singles making up one in three new private-home borrowers; about 20 per cent of these singles were investing, and roughly a quarter of that investor group was under 30.

Investment First, Own Stay Later
For 32-year-old former Wall Street banker Teri Tan, property is primarily an investment tool. At 28 she bought a one-bedroom unit at The Sail @ Marina Bay for about S$1.25 million, renting it out for S$4,800 a month while working in New York, then briefly living in it after returning to Singapore in 2022. She sold it four years later at roughly the same price and in January 2025 bought a larger two-bedroom-plus-study at Pinetree Hill in Ulu Pandan for S$2.1 million, scheduled for completion in 2026. Now renting an HDB flat in Boon Keng, she says the second purchase was shaped less by “ego” and more by fundamentals such as proximity to schools, tenant demand and long-term value, with no intention of moving in.

Rents Push Some Young Adults To Buy
Rising rentals have nudged other young professionals toward ownership. Business development manager Hilda Tan bought a 635 sq ft unit at Waterfront Isle in Bedok Reservoir for S$910,000 at age 29 in December 2023, after years of moving between rented rooms. She said rent “hit fever pitch” in 2023, making a mortgage look more sensible. After relocating to Hong Kong in 2025, she rented the condo out at S$3,200 a month, but notes that net returns are moderated by maintenance fees and sinking fund contributions. For her, the experience underscores that investors must account for ongoing ownership costs rather than just comparing rent to mortgage payments.

Joint Purchases Offer Leverage But Add Complexity
Some younger buyers pool resources to enter the private market sooner. A 32-year-old finance analyst, earning over S$120,000 a year, bought a resale executive condominium in Yishun with her partner for S$1.1 million in 2022 so they could afford their own place. After the relationship ended, she chose to buy over his share and now carries the mortgage alone, subject to a fresh four-year lock-in before selling. ERA Singapore’s Eugene Lim says such arrangements are becoming more common, often supported by parents helping with upfront costs, but warns that misaligned long-term goals and joint liability can create disputes and financial strain if one party wants out or defaults, especially when later life events, such as marriage, trigger additional stamp duties or waiting periods for HDB purchases.

Banks Urge Caution On Liquidity And Buffers
Market observers expect interest from young buyers to persist, driven by inter-generational wealth transfers and property’s perceived role as a store of value. Yet banks stress that property is illiquid and a long-term commitment. UOB’s Jacquelyn Tan advises buyers to factor in the full cost of ownership and how future interest rate changes could affect repayments. OCBC’s Tok Geok Peng says investors should not rely solely on rental income and recommends holding at least six months of mortgage payments in liquid assets as a buffer, while budgeting for maintenance, taxes and other “hidden” costs. For Indonesians and Singaporeans, these stories highlight both the opportunities and risks in using leverage to enter high-priced markets early, especially when career paths, relationships and interest rates can all shift over time.

The rise of under-35 investors in Singapore’s private property market reflects strong incomes, supportive loan conditions and faith in real estate as a long-term asset, but it also exposes young buyers to substantial leverage, liquidity constraints and life-stage uncertainties. For Indonesians and Singaporeans alike, sustainable investing in homes means aligning purchases with realistic cash flow, buffers and future plans, rather than simply chasing status or short-term gains in a competitive, high-cost market.

Sources: Asia One (2026) , Straits Times (2026)

Keywords: Under 35 Home Loans, Single Property Buyers, Investment Condos, Pinetree Hill Purchase, Waterfront Isle Case Study, Joint Purchase Risks