2 bedroom condo owners in Singapore made 21.7% on resale, 3 bedroom owners 33.7%

People searching for a two-bedroom condominium as an investment ask, more than any other question, whether a three-bedroom would have done better. Measured by what owners actually made when they sold, the three-bedroom did better. Of 27,663 three-bedrooms resold between January 2020 and August 2026, 95.4% sold above their purchase price, and the median gain was $450,000, 33.7% over 9.6 years, about 3.5% a year. Of 24,232 two-bedrooms, 92.9% sold above purchase, and the median gain was $230,000, 21.7% over 8.3 years, about 2.8% a year.

The two-bedroom's advantage is in rent, not price. Its gross rental yield in 2025 was 3.29% against 2.89% for a three-bedroom, because the smaller home rents for more per square foot than it costs per square foot. That edge is real, and it is 0.4 of a point a year, against a price advantage of 0.7 of a point a year for the three-bedroom.

Put the two together, gross and before every cost, and the three-bedroom's median owner earned about 6.4% a year in price and rent, the two-bedroom's about 6.1%. The three-bedroom also cost $237,000 more to buy, was held a year longer, and the losers lost more when they lost. What follows is where the gap sits and where it does not.

Key takeaways

• 95.4% of three-bedrooms resold since 2020 sold above their purchase price, against 92.9% of two-bedrooms; the median gain was 33.7% against 21.7%, 3.5% a year against 2.8%. What each made
• The two-bedroom's higher rental yield, 3.29% against 2.89%, does not close the gap: price and rent together, gross, the three-bedroom earned about 6.4% a year and the two-bedroom about 6.1%. Price plus rent
• The three-bedroom lost money less often in every region; in the CCR, 9.9% of three-bedroom resales lost against 18.4% of two-bedroom ones. By region
• The three-bedroom was ahead in every purchase window, and the 2010 to 2014 buyers did worst in both sizes, 7.7% losing against 12.4%. By when you bought

What each made

Every unit bought and later resold, matched on the unit itself, with the resale completing between January 2020 and August 2026. The construction is the same as the two-bedroom note, and the two-bedroom column repeats its figures.

	Two-bedroom	Three-bedroom
Units resold	24,232	27,663
Sold above purchase price	92.9%	95.4%
Sold at a loss	6.9%	4.5%
Median gain	$230,000 (21.7%)	$450,000 (33.7%)
A year (median)	2.8%	3.5%
Median hold	8.3 years	9.6 years
Middle half of gains	11.4% to 36.0%	17.8% to 61.9%
Median loss, among those that lost	$70,600 (5.4%)	$124,500 (6.5%)
Median purchase price	$1,007,000	$1,244,420
Median purchase size	850 sqft	1,227 sqft

The three-bedroom's median owner made almost twice the two-bedroom's in dollars and half as much again in percentage terms, on a purchase price 24% higher. Its middle half of outcomes sits entirely above the two-bedroom's median: a three-bedroom at the 25th percentile made 17.8%, and a two-bedroom at the median made 21.7%. When a three-bedroom lost, it lost more, $124,500 against $70,600, because more money was at stake; as a share of price the two losses are close, 6.5% and 5.4%.

Price plus rent

Rent is the two-bedroom's case, and it is worth putting beside the price outcome rather than leaving it in a separate note.

	Two-bedroom	Three-bedroom
Price, a year (median owner)	2.8%	3.5%
Gross rental yield, 2025	3.29%	2.89%
Price and rent, gross, a year	about 6.1%	about 6.4%

The rental yield is the 2025 figure from the rental yield note, applied as if it held over the hold, which it did not exactly; rents moved through the period and the note shows how. The comparison is gross, before stamp duties, interest, maintenance, vacancy and commission, all of which scale with price and so weigh more on the three-bedroom in dollars. It is a first-order answer, not a total return.

By region

• Two-bedroom resales sold at a loss
• Three-bedroom resales sold at a loss

Region	Units resold	Sold above	Sold at a loss	Median gain	A year
CCR, two-bedroom	3,491	81.1%	18.4%	$257,000 (15.7%)	1.8%
CCR, three-bedroom	3,707	90.1%	9.9%	$616,000 (27.6%)	2.7%
RCR, two-bedroom	8,517	94.4%	5.4%	$248,888 (21.2%)	3.0%
RCR, three-bedroom	8,893	95.0%	4.9%	$502,000 (33.5%)	3.8%
OCR, two-bedroom	12,224	95.1%	4.6%	$213,950 (23.3%)	2.9%
OCR, three-bedroom	15,063	96.9%	3.0%	$400,000 (35.2%)	3.6%

The three-bedroom is ahead in all three regions on every column, and the gap is widest where the two-bedroom does worst. In the CCR, nearly one two-bedroom resale in five lost money and one three-bedroom in ten did; the three-bedroom's median gain there was 27.6% against 15.7%. In the OCR the two are closest on losses, 3.0% against 4.6%, and still twelve points apart on median gain.

By when you bought

• Two-bedroom resales sold at a loss
• Three-bedroom resales sold at a loss

Bought	Units resold	Sold above	Sold at a loss	Median gain	A year
Before 2010, two-bedroom	3,568	96.5%	3.5%	$571,650 (79.0%)	3.5%
Before 2010, three-bedroom	7,612	97.0%	3.0%	$832,891 (97.7%)	3.9%
2010 to 2014, two-bedroom	9,004	87.2%	12.4%	$170,000 (17.0%)	1.6%
2010 to 2014, three-bedroom	9,558	92.1%	7.7%	$333,992 (25.8%)	2.3%
2015 to 2018, two-bedroom	6,402	94.9%	4.8%	$208,000 (20.0%)	3.2%
2015 to 2018, three-bedroom	6,254	96.6%	3.3%	$360,000 (26.0%)	4.0%
2019 to 2022, two-bedroom	5,169	98.0%	1.8%	$235,000 (20.7%)	4.6%
2019 to 2022, three-bedroom	4,155	98.2%	1.7%	$402,000 (26.5%)	6.1%

Timing hurt both sizes in the same window and helped both in the same window. The 2010 to 2014 buyers did worst in both, but the two-bedroom suffered more, 12.4% losing against 7.7%, and made less when it gained, 17.0% against 25.8%. The 2019 to 2022 buyers have done best in both, and there the gap is on rate, 6.1% a year against 4.6%, over holds of four years. The three-bedroom's lead is not a story about one cohort; it holds in each.

Crossing region and purchase window, the three-bedroom sold above purchase more often in nine of the twelve cells. The two-bedroom was ahead in the RCR before 2010, 96.7% against 95.2%, and in the RCR bought 2019 to 2022, 98.8% against 97.9%; in the OCR bought 2019 to 2022 the two are level at 99.0%. Even in the RCR before 2010, the three-bedroom's median gain, 104.1%, was larger than the two-bedroom's 84.3%. The cell that carried most of the two-bedroom's losses, the CCR bought in 2010 to 2014, is where the sizes diverge most: 30.7% of two-bedrooms lost money against 13.8% of three-bedrooms, and the median two-bedroom owner made 8.2% over eleven years while the median three-bedroom owner made 19.3%.

New launch or resale

Bought as	Units resold	Sold above	Median gain	A year	Median hold
New launch, two-bedroom	14,039	92.9%	$209,200 (20.0%)	2.6%	8.4 years
New launch, three-bedroom	13,266	95.2%	$403,962 (30.1%)	3.2%	9.7 years
Resale, two-bedroom	8,612	93.8%	$272,610 (25.2%)	3.3%	7.1 years
Resale, three-bedroom	12,850	95.9%	$482,000 (36.6%)	4.0%	9.0 years
Sub-sale, two-bedroom	1,581	87.5%	$250,000 (23.5%)	2.1%	11.2 years
Sub-sale, three-bedroom	1,547	92.8%	$550,000 (42.3%)	2.7%	12.8 years

The pattern inside each size is the same: buying as a resale beat buying at launch, by about 0.7 of a point a year, and sub-sales did worst. The three-bedroom's lead over the two-bedroom is about 0.6 to 0.7 of a point in every row, so a three-bedroom bought at launch, 3.2% a year, roughly matched a two-bedroom bought as a resale, 3.3%.

What this means for choosing

On price, the three-bedroom was the better investment in every cut this data allows, and the two-bedroom's rent advantage, real and consistent, was too small to reverse it. Two things stop that being a rule. The three-bedroom needed 24% more capital, and its losers lost 76% more in dollars, so the choice also depends on what a buyer can commit and can afford to lose. And the two populations are not the same buyers making the same decision: three-bedroom owners held a year longer and, before 2010, were twice as numerous, so part of what the three-bedroom's numbers show is who bought one and when.

What this does not tell you

• Total return. Price plus gross rent is not net return. Costs scale with price and fall harder on the three-bedroom in dollars; a worked example for each size is a separate note.
• The buyer. Nothing here says a three-bedroom buyer would have done as well in a two-bedroom, or the reverse; the two groups differ in when they bought, how long they held and what they could afford.
• Units that have not resold. Only completed resales are counted; owners still holding are not in the data.
• The 2023 buyers. 89 two-bedrooms and 84 three-bedrooms bought since 2023 have already resold, on holds of about two years; too few and too short, and kept out of every table.
• What happens next. These are completed resales; a buyer choosing between the two sizes in 2026 faces a different market.

Method and data notes

Repeat sales from URA caveat data for private condominiums and apartments, each pair a purchase and a later resale of the same unit, resale completing between January 2020 and August 2026, purchase in any earlier year back to 1995. Bedroom count is resolved from the unit record; the class of unit records with more than 1,000 sqft per claimed bedroom is excluded, as are two units corrected on floor-plan review. Region is the URA market segment on the purchase caveat. Gain is the resale price less the purchase price as a share of the purchase price; the annual figure compounds it over the owner's own hold, and is not computed for holds under six months. Medians are of units. Gross rental yields are the 2025 figures from the rental yield note; the price-plus-rent line adds the median annual price gain to the 2025 yield and is an approximation, stated as such. The two-bedroom figures are those published in the two-bedroom note; the three-bedroom figures were derived in the same run on the same construction. Latest two-bedroom resale in the data 19 May 2026, latest three-bedroom resale 19 June 2026, from one scan of 554,608 caveats across 335,948 unit identities.