From my personal experience navigating Singapore’s property market, I’ve noticed a distinct trend: although HDB prices have softened recently, private condominium prices keep climbing steadily. This interesting divergence is largely due to the changing profile of main buyers — new Permanent Residents (PRs) with high incomes and cash reserves who can’t purchase HDB flats or landed properties. Every year, around 40,000 new PRs enter the market, but only about 10,000 new private homes are launched annually, creating a significant supply-demand imbalance. This shortage in new private housing, combined with government policies reserving much land for BTO flats, intensifies competition for condominiums. Many locals prefer affordable BTOs over resale HDBs, reducing demand further in that segment. For homebuyers and investors, understanding these underlying forces is crucial. It’s not just about buying any property but knowing which segments have sustainable appreciation potential. Condominiums, especially those targeted by affluent new PRs, tend to retain value and may offer better long-term gains. Before purchasing, I recommend focusing on current market demographics, construction supply trends, and government policies on housing allocation. This approach helped me advise over 800 clients effectively, ensuring they choose homes aligned with evolving market logic rather than outdated assumptions. In such a dynamic market, doing your homework and seeking tailored guidance are key to making confident and rewarding real estate decisions.