In 2017 just over half of new-launch 2 bedroom buyers with a recorded address gave an HDB address, and by 2025 under two in five

In 2017, 53.6% of new-launch 2 bedroom buyers whose address type the caveat records as HDB or private gave an HDB address. In 2025 the share was 37.7%, a fall of 15.9 percentage points. The figures are national and come from URA caveat data.

Among 2 bedroom resale buyers the share fell from 40.3% in 2017 to 33.1% in 2025. Among new-launch 3 bedroom buyers it fell from 52.1% in 2017 to 28.9% in 2025, a fall of 23.2 points against 15.9 points for new-launch 2 bedroom buyers. The rest of what we found about 2 bedroom units is on the 2 bedroom condo guide.

What is in this note

• Did the share of buyers giving an HDB address fall between 2017 and 2025?: new launches and resales compared, across all 9 years.
• Did the share giving an HDB address fall in every region?: the same question asked separately of the core central region (CCR), the rest of central region (RCR) and outside central (OCR), and what happened to the gap between the region with the highest HDB share and the region with the lowest.
• Did the share giving an HDB address fall for freehold and leasehold buildings alike?: freehold buildings against leasehold buildings, with new launches and resales shown separately.
• Did the share giving an HDB address differ by the age of the building?: resales only, grouped by how old the building was when it sold.

Did the share of buyers giving an HDB address fall between 2017 and 2025?

Share of buyers giving an HDB address, of those whose address type is recorded.

• New launch
• Resale

Year	New launch	Resale
2017	53.6%	40.3%
2018	50.8%	39.3%
2019	51.6%	34.2%
2020	49.0%	39.4%
2021	41.5%	38.1%
2022	36.6%	39.3%
2023	35.8%	35.3%
2024	39.7%	34.7%
2025	37.7%	33.1%

The new-launch share was above the resale share in each year from 2017 to 2021 and in each year from 2023 to 2025. In 2022 it was 36.6% for new launches against 39.3% for resales. The new-launch share was 53.6% in 2017 and 37.7% in 2025; the resale share was 40.3% in 2017 and 33.1% in 2025.

Did the share giving an HDB address fall in every region?

The charts and tables group 2 bedroom buyers by the region of the purchase: the core central region (CCR), the rest of central region (RCR) and outside central (OCR).

New launch:

• CCR
• RCR
• OCR

Year	CCR	RCR	OCR
2017	29.2%	48.9%	68.0%
2018	17.4%	48.3%	61.9%
2019	24.1%	50.7%	62.8%
2020	21.0%	45.3%	59.4%
2021	21.4%	37.7%	57.1%
2022	24.9%	35.4%	47.3%
2023	26.5%	33.2%	42.2%
2024	20.8%	31.2%	45.0%
2025	26.1%	36.1%	47.5%

Resale:

Year	CCR	RCR	OCR
2017	24.6%	40.8%	49.7%
2018	19.6%	37.6%	48.4%
2019	17.6%	33.5%	43.8%
2020	20.5%	37.5%	48.5%
2021	19.0%	33.7%	47.3%
2022	21.1%	35.6%	47.1%
2023	21.6%	34.7%	40.6%
2024	20.4%	33.0%	41.2%
2025	16.7%	31.9%	39.8%

In every year from 2017 to 2025, among both new launches and resales, the CCR had the lowest share of 2 bedroom buyers giving an HDB address, the RCR the next and the OCR the highest. Among new launches the gap between the OCR and the CCR was 38.8 percentage points in 2017 and 21.4 points in 2025. The OCR share fell from 68.0% to 47.5%, the RCR share from 48.9% to 36.1% and the CCR share from 29.2% to 26.1%. Among resales the gap was 25.1 points in 2017 and 23.1 points in 2025; the OCR share fell from 49.7% to 39.8%, the RCR share from 40.8% to 31.9% and the CCR share from 24.6% to 16.7%.

Did the share giving an HDB address fall for freehold and leasehold buildings alike?

New launch:

Year	Freehold	Leasehold
2017	37.7%	55.1%
2018	33.4%	53.5%
2019	32.8%	55.2%
2020	30.9%	52.2%
2021	32.3%	44.3%
2022	31.6%	39.5%
2023	29.6%	38.2%
2024	32.7%	41.0%
2025	24.6%	38.7%

Resale:

Year	Freehold	Leasehold
2017	35.3%	45.1%
2018	33.1%	44.1%
2019	27.3%	39.0%
2020	31.7%	44.4%
2021	28.8%	43.4%
2022	30.2%	43.7%
2023	28.5%	38.6%
2024	27.1%	37.9%
2025	22.7%	37.6%

In every year from 2017 to 2025, among both new launches and resales, leasehold buildings had a higher share of 2 bedroom buyers giving an HDB address than freehold buildings. Among new launches the leasehold share fell from 55.1% to 38.7% and the freehold share from 37.7% to 24.6%, and the gap between them narrowed from 17.4 percentage points to 14.1 points. Among resales the leasehold share fell from 45.1% to 37.6% and the freehold share from 35.3% to 22.7%, and the gap between them widened from 9.8 points to 14.9 points.

Did the share giving an HDB address differ by the age of the building?

Resales only. A new launch is a sale of a building that has just completed or has not completed yet, so a new launch is never more than a few years old and there is nothing to compare.

Year	0 to 5	6 to 10	16 and older
2017	42.3%	37.1%	39.3%
2018	45.0%	33.2%	34.5%
2019	39.0%	29.6%	32.5%
2020	46.9%	39.6%	35.3%
2021	45.1%	39.8%	34.7%
2022	40.6%	44.6%	35.3%
2023	42.9%	37.6%	30.4%
2024	38.1%	38.8%	28.8%
2025	38.4%	39.8%	24.2%

Among resales, the share of 2 bedroom buyers giving an HDB address in buildings 16 years old and older was 39.3% in 2017. From 2018 through 2022 it ranged from 32.5% in 2019 to 35.3% in 2020 and 2022, and it fell in each of the last 3 years, to 30.4% in 2023, 28.8% in 2024 and 24.2% in 2025. In buildings up to 5 years old the share was 42.3% in 2017 and 38.4% in 2025, and in buildings 6 to 10 years old it was 37.1% in 2017 and 39.8% in 2025.

Buildings between 11 and 15 years old are left out of the table. That group clears our evidence floor in only 3 of the 9 years, 2021, 2024 and 2025, when the share was 28.9%, 31.1% and 29.8%, so we do not report a trend for it.

What this tells you

Among 2 bedroom buyers whose address type the caveat records as HDB or private, the national share giving an HDB address in 2025 was 37.7% for new launches and 33.1% for resales. In 2017 it was 53.6% for new launches and 40.3% for resales, a fall of 15.9 percentage points for new launches and 7.2 points for resales.

In every year from 2017 to 2025, among both new launches and resales, the share was highest in outside central (OCR), next in the rest of central region (RCR) and lowest in the core central region (CCR). Among new launches the OCR share fell from 68.0% in 2017 to 47.5% in 2025, a fall of 20.5 points, and the CCR share from 29.2% to 26.1%, a fall of 3.1 points.

In every year, among both new launches and resales, leasehold buildings had a higher share than freehold buildings. Among new launches the leasehold share fell from 55.1% in 2017 to 38.7% in 2025, a fall of 16.4 points, and the freehold share from 37.7% to 24.6%, a fall of 13.1 points. Among resales the freehold share fell from 35.3% to 22.7%, a fall of 12.6 points, and the leasehold share from 45.1% to 37.6%, a fall of 7.5 points.

Among resales, in 2017 the share was 39.3% in buildings 16 years old and older and 42.3% in buildings up to 5 years old; in 2025 it was 24.2% and 38.4%, a fall of 15.1 points and 3.9 points. In buildings 6 to 10 years old it was 37.1% in 2017 and 39.8% in 2025.

The comparisons do not all point the same way. In three of them the group with the higher share in 2017 had the larger fall by 2025: among new launches, the OCR against the CCR and leasehold against freehold buildings, and new launches against resales. In two of them, both among resales, it did not: freehold buildings, which had the lower share in 2017, fell more than leasehold buildings, and buildings up to 5 years old, which had the highest share of the three age groups in 2017, fell less than buildings 16 years old and older.

What this does not tell you

• What "N.A" means. The caveat records an address indicator with three values, HDB, private and N.A. Nothing in our sources documents what N.A denotes. The Method sets out what it looks like here.
• Whether the buyer was an upgrader. An HDB address at the time of purchase is not the same as selling a flat to fund the purchase.
• What happened in 2026. This note covers 9 complete calendar years, 2017 to 2025. Sale data runs to 23 August 2026, so a 2026 figure would cover under 8 months and would move as the year finishes. We will look at 2026 separately once the year is complete enough to compare.
• Why any of it happened. This note measures the patterns. It does not attribute them to policy, to price, or to anything else.
• Anything about a specific project. These are shares across hundreds of developments a year.

Method and data notes. Sale data to 23 August 2026.

Shares from URA caveat data for private condominiums and apartments, by the buyer's address type the caveat records (URA's 'purchaser address indicator'), split by whether the sale was a new launch or a resale. Bedroom counts are those resolved from the unit's own record.

The indicator takes three values: HDB, private, and N.A. This note reports the HDB share of those recorded as HDB or private, excluding N.A from the denominator, on the same basis as who buys a 3 bedroom. N.A is recorded almost entirely on new launches: it peaks at 24.5% of new-launch sales in 2018, falls to 7.3% in 2019, and is back at 22.8% by 2025, while resales never carry more than 1.5%, the highest year being 2019.

Tenure is classified from the project's own lease string rather than from the transaction record, which files a 999-year lease as leasehold. The boundary is 900 years, which is inside an empty gap in the recorded terms. Every 2 bedroom caveat in this window classified.

Age is the contract year less the building's completion year. The group of buildings over 16 years old gains newly eligible buildings each year, so the newest building in it moves from a 2001 completion to a 2009 completion across the window. Its median completion year moves only from 1997 to 1999 and its oldest building does not change at all, so the group is substantially the same buildings throughout.

Some figures rest on fewer than 600 caveats recorded HDB or private and are named rather than left to be found: nine of the eighteen figures for the core central region (CCR), one new-launch year for the rest of central region (RCR), six freehold new-launch years, and a single year in each of the three age groups printed above.

Sale data to 23 August 2026.

30 October 2026. This note placed homes in market segments by postal district. URA places them by planning area, which moves about one in seven private sales between regions. The figures by region here use the earlier segments and differ from what the same records give now. How regions are set: How we measure prices and sales.