Is there a lease decay calculator for HDB flats?

There is one on this page, and it is worth being clear about what it does. It divides a price by the months of lease remaining, and by the square feet and the years, which is what makes a dear flat with a long lease comparable with a cheap one with a short lease. It does not apply a decay percentage to an individual flat, because no published measurement supports doing that — instead it shows which measured band the lease falls in and what resales in that band actually sold for.

At what remaining lease does a Singapore flat start losing value?

In the core central region the first measurable step down is at 70 to 79 years, 7 per cent below 80 to 89 years. In the rest of central region the first measurable step down is at 70 to 79 years, 15 per cent below 80 to 89 years. In the outside central region the first measurable step down is at 70 to 79 years, 24 per cent below 80 to 89 years. The band above those — flats with ninety years or more left — is dearer still ($2,323 psf in the core central region, $2,097 psf in the rest of central region, $1,516 psf in the outside central region), and it is deliberately not the band the discounts are measured from: it is nearly-new stock, much of it recently built, so treating its premium as lease value would turn newness into lease decay.

Does lease decay stop below 60 years?

No — the measurement stops, which is not the same thing. In the outside central region the median rises again below 70 to 79 years: $1,126 psf at 60 to 69 years on 1,643 sales, against $1,067 psf on 5,903 sales in the band above it. That is the short-lease stock out there sitting in better locations, not lease decay reversing, so this site draws no curve past that point and quotes no figure for it.

How much does an HDB flat lose per year of lease?

This site publishes no such figure, because the HDB resale register holds only 99-year leases and nothing in it separates a flat’s lease from its age or its address. What it can do is divide: block 37 Teban Gardens Road has 39 years left and recently sold at a median $320,000, which is $684 for each month of lease. Block 152C Bedok South Road, with 95 years left, cost $1,421,444 — 4.4 times the price, and $1,247 a month of lease.

How much does a shorter lease reduce a Singapore flat’s price?

Measured rather than modelled: the steepest fall in the published window is in the rest of central region, where private flats with 50 to 59 years of lease left sold for 44 per cent less a square foot than those with 80 to 89 years — $1,044 psf against $1,871 psf, across 427 resales and 4,216. Region by region it reads differently, and that is the finding: in the core central region, 70 to 79 years of lease left reads 7 per cent below 80 to 89 years ($1,866 psf against $2,012 psf, on 847 and 2,352 resales); in the rest of central region, 50 to 59 years of lease left reads 44 per cent below 80 to 89 years ($1,044 psf against $1,871 psf, on 427 and 4,216 resales); in the outside central region, 70 to 79 years of lease left reads 24 per cent below 80 to 89 years ($1,067 psf against $1,400 psf, on 5,903 and 18,203 resales). There is deliberately no single national figure on this page.

Work it out for a particular flat

The figure a buyer can actually use is not a percentage, it is a rate: what this flat costs for each month of lease it still has, and what a square foot of it costs to hold for a year. Those two make a dear flat with a long lease comparable with a cheap one with a short lease, which is the comparison a headline price cannot make.

Per month of lease left

$1,883

$1,695,000 over 900 months.

Per sq ft, per year held

$23.06

$1,730 psf spread over 75 years.

Your price per sq ft

$1,730 psf

Resales on this much lease ran a median $1,866 psf.

Core central region, 70 to 79 years of lease left. Resales there ran a median $1,866 psf on 847 sales and a median price of $1,910,000.

That is 7 per cent below 80 to 89 years ($2,012 psf). That gap is a difference between groups of flats, not a discount this flat will take: a flat with less lease is usually an older flat in a different place, and nothing in the data separates the two.

The boxes open on the median private flat in this window — $1,695,000 over about 980 sq ft, across 120,376 sales. Price only: no stamp duty, no mortgage interest, no maintenance, and no discounting of a dollar paid in forty years’ time. The full cost of buying is here, and it is a larger number.

What the market actually paid, region by region

Of the 131,264 private transactions in the published window, 50,559 are leasehold resales of flats carrying a lease commencement year — enough to read the curve off the market rather than estimate it. Each band below is a median of real sales, banded on the lease each flat had the day it sold.

Core central region: what each remaining lease sold for

Districts 9, 10 and 11, the downtown core and Sentosa. Median price per square foot, resales of private flats.

80 to 89 years2,352 sales$2012
70 to 79 years847 sales$1866

A flat here with 70 to 79 years of lease left sold for 7 per cent less a square foot than one with 80 to 89 years — $1,866 psf against $2,012 psf, across 847 sales and 2,352.

Show the figures

Lease remaining	Median per sq ft	Median price	Sales	Against the base band
90 years or more	$2,323 psf	$2,475,500	1,118	—
80 to 89 years	$2,012 psf	$2,257,333	2,352	base
70 to 79 years	$1,866 psf	$1,910,000	847	−7.2%
60 to 69 years	$1,764 psf	$2,417,500	172	—
50 to 59 years	$1,275 psf	$3,180,000	134	—
Under 50 years	$1,258 psf	$1,409,000	100	—

Drawn as far as 70 to 79 years, below which the bands are too thinly traded to compare. Freehold flats in the same region ran $2,186 psf over 6,865 resales, for scale. Below the drawn range the bands read $1,764 psf at 60 to 69 years on 172 sales, $1,275 psf at 50 to 59 years on 134 sales, $1,258 psf at under 50 years on 100 sales. Those bands rest on too few sales for a discount to be published from them at all. Either way they belong in the table rather than in the chart.

Rest of central region: what each remaining lease sold for

The city fringe, inside the rest of the central area. Median price per square foot, resales of private flats.

80 to 89 years4,216 sales$1871
70 to 79 years2,088 sales$1588
60 to 69 years687 sales$1500
50 to 59 years427 sales$1044

A flat here with 50 to 59 years of lease left sold for 44 per cent less a square foot than one with 80 to 89 years — $1,044 psf against $1,871 psf, across 427 sales and 4,216.

Show the figures

Lease remaining	Median per sq ft	Median price	Sales	Against the base band
90 years or more	$2,097 psf	$1,501,888	3,275	—
80 to 89 years	$1,871 psf	$1,750,000	4,216	base
70 to 79 years	$1,588 psf	$1,850,000	2,088	−15.2%
60 to 69 years	$1,500 psf	$1,828,000	687	−19.8%
50 to 59 years	$1,044 psf	$1,630,000	427	−44.2%
Under 50 years	$1,163 psf	$938,444	136	—

Drawn as far as 50 to 59 years, below which the bands are too thinly traded to compare. Freehold flats in the same region ran $1,683 psf over 7,928 resales, for scale. Below the drawn range the bands read $1,163 psf at under 50 years on 136 sales. That band rests on too few sales for a discount to be published from it at all. Either way they belong in the table rather than in the chart.

Outside central region: what each remaining lease sold for

The suburbs, where most private housing is. Median price per square foot, resales of private flats.

80 to 89 years18,203 sales$1400
70 to 79 years5,903 sales$1067

A flat here with 70 to 79 years of lease left sold for 24 per cent less a square foot than one with 80 to 89 years — $1,067 psf against $1,400 psf, across 5,903 sales and 18,203.

Show the figures

Lease remaining	Median per sq ft	Median price	Sales	Against the base band
90 years or more	$1,516 psf	$1,310,000	8,599	—
80 to 89 years	$1,400 psf	$1,350,000	18,203	base
70 to 79 years	$1,067 psf	$1,315,000	5,903	−23.8%
60 to 69 years	$1,126 psf	$1,325,000	1,643	−19.6%
50 to 59 years	$1,153 psf	$1,700,000	627	−17.6%
Under 50 years	$1,068 psf	$1,710,000	32	—

Drawn as far as 70 to 79 years, where the medians stop falling. Freehold flats in the same region ran $1,479 psf over 6,146 resales, for scale. Below the drawn range the bands read $1,126 psf at 60 to 69 years on 1,643 sales, $1,153 psf at 50 to 59 years on 627 sales, $1,068 psf at under 50 years on 32 sales. Of those, 60 to 69 years and 50 to 59 years clear the sales floor and still fail to fall, which is this region’s short-lease stock sitting in better locations than its long-lease stock rather than lease decay stopping. And under 50 years rests on too few sales for a discount to be published from it at all. Either way they belong in the table rather than in the chart.

Why there is no single national curve here

Because the groups being compared differ in more than their leases. The flats with least lease remaining in Singapore are disproportionately 1980s blocks in prime districts; the ones with most are new launches in the suburbs. Pool them and the curve stops describing lease at all.

The clearest evidence is inside a single region, where pooling is not even the problem. In the outside central region the median turns back up below 70 to 79 years: $1,126 psf on 1,643 sales at 60 to 69 years, against $1,067 psf on 5,903 sales in the band above. Nobody pays more for less lease. What those sales record is which addresses still trade when the lease is short.

So each region’s curve is drawn only as far as the evidence runs, and the bands below it are published in the tables with their sale counts rather than smoothed into a line. A chart that ran to the bottom of the range would look more complete and say less.

HDB flats, where the question is usually asked

Every Housing Board flat is a 99-year lease, which is why the measured curve above comes from private transactions: the HDB register has no tenure variation to compare. It does have 9,767 blocks with leases running from one end of the range to the other, and the arithmetic needs no curve at all.

39 years left

$684

Block 37 Teban Gardens Road, Jurong East — median $320,000.

95 years left

$1,247

Block 152C Bedok South Road, Bedok — median $1,421,444.

The second flat costs 4.4 times the first and only 82 per cent more for each month of lease it comes with. That is the whole of what a shorter lease does to a price, stated in a unit somebody can act on. Both medians are based on just three sales, which is too few to call a market rate, so take the pair as an illustration of the arithmetic.

What this site does not publish is an HDB decay percentage per year. The register holds nothing that separates a flat’s remaining lease from its age, its model or its address, and a figure derived without that separation would be the same mistake this series exists to point out. A gap beats a guess.

There is a state answer to the problem this page measures, for owners who have reached 65: the Lease Buyback Scheme sells the tail end of the lease back to HDB and keeps the front end to live in. It is worth knowing before anyone reads the figures above as a reason to sell — and worth knowing what it pays, because most of the proceeds never arrive as cash.

The shortest leases on the HDB register

Blocks with the least lease remaining that traded recently, to Oct 2026

Block	Lease left	Recent median	Per month of lease	Sales
37 Teban Gardens RoadJurong East	39 years	$320,000	$684	three
110 Lorong 1 Toa PayohToa Payoh	40 years	$385,000	$802	four
112 Lorong 1 Toa PayohToa Payoh	40 years	$347,500	$724	four
114 Lorong 1 Toa PayohToa Payoh	40 years	$355,000	$740	three
115 Lorong 1 Toa PayohToa Payoh	40 years	$342,500	$714	four
19 Balam RoadGeylang	40 years	$328,000	$683	three
20 Balam RoadGeylang	40 years	$310,000	$646	seven
22 Balam RoadGeylang	40 years	$305,000	$635	three
23 Balam RoadGeylang	40 years	$313,000	$652	three
24 Balam RoadGeylang	40 years	$317,500	$661	four

Remaining lease is derived from the lease commencement year, not from the remaining lease string on a sale — that string describes the lease on the day of that sale, which for a 2017 transaction is nine years longer than the flat has today. No chart: every block here has the same remaining lease, so a bar would rank them by price and call it lease decay. Each block’s own page carries its sales in full.

How this is measured

The curves come from caveats lodged with the Urban Redevelopment Authority, read from its Data Service on Oct 2026 and refreshed nightly: 131,264 private residential transactions covering Oct 2021 to Oct 2026. The HDB figures come from the resale register published on data.gov.sg, read on Oct 2026.

Resales only, flats only, on floor area. New launches are excluded because they sell at a developer’s list price and are almost all long-lease, which would put the sale type into the curve. A house is measured by its plot rather than its floor, so landed sales are not in these medians at all.
The lease at the date of sale, not the lease today. A 2021 transaction is banded on the lease the flat had in 2021.
One curve per market segment. Never pooled, for the reason above.
The base is the longest ordinary band, not the 90-plus one. Flats with ninety years or more left are mostly recently built, and measuring every discount from them would turn newness into lease decay.
Each curve stops where the evidence does — either where the medians stop falling, or where the bands below stop carrying enough sales to compare. Which of the two it was is stated under each chart, and the bands below stay in the tables with their counts.
Medians, never means, with the sale count beside every one.

The confound that remains. A flat with fifty years left is also a flat built in the 1970s, in a neighbourhood that was built up then, with the fittings and the layout of that decade. Nothing in caveat data separates the lease from the building, so part of every step above is age and condition rather than tenure. It is the reason these figures are published as what a shorter lease sold for rather than as what a shorter lease costs. See the full method.

Questions people ask

How much does a shorter lease reduce a Singapore flat’s price?: It depends where the flat is, and the answer has to be given region by region: in the core central region, 70 to 79 years of lease left reads 7 per cent below 80 to 89 years ($1,866 psf against $2,012 psf, on 847 and 2,352 resales); in the rest of central region, 50 to 59 years of lease left reads 44 per cent below 80 to 89 years ($1,044 psf against $1,871 psf, on 427 and 4,216 resales); in the outside central region, 70 to 79 years of lease left reads 24 per cent below 80 to 89 years ($1,067 psf against $1,400 psf, on 5,903 and 18,203 resales). Each figure is a median price per square foot of private resales, measured on the lease each flat had on the day it sold. There is no single national figure on this page because pooling the island puts location into the curve: the stock with least lease left is disproportionately older blocks in better-placed districts.
Is there a lease decay calculator for HDB flats?: There is one on this page, and it is worth being clear about what it does. It divides a price by the months of lease remaining, and by the square feet and the years, which is what makes a dear flat with a long lease comparable with a cheap one with a short lease. It does not apply a decay percentage to an individual flat, because no published measurement supports doing that — instead it shows which measured band the lease falls in and what resales in that band actually sold for.
At what remaining lease does a Singapore flat start losing value?: In the core central region the first measurable step down is at 70 to 79 years, 7 per cent below 80 to 89 years. In the rest of central region the first measurable step down is at 70 to 79 years, 15 per cent below 80 to 89 years. In the outside central region the first measurable step down is at 70 to 79 years, 24 per cent below 80 to 89 years. The band above those — flats with ninety years or more left — is dearer still ($2,323 psf in the core central region, $2,097 psf in the rest of central region, $1,516 psf in the outside central region), and it is deliberately not the band the discounts are measured from: it is nearly-new stock, much of it recently built, so treating its premium as lease value would turn newness into lease decay.
Does lease decay stop below 60 years?: No — the measurement stops, which is not the same thing. In the outside central region the median rises again below 70 to 79 years: $1,126 psf at 60 to 69 years on 1,643 sales, against $1,067 psf on 5,903 sales in the band above it. That is the short-lease stock out there sitting in better locations, not lease decay reversing, so this site draws no curve past that point and quotes no figure for it.
How much does an HDB flat lose per year of lease?: This site publishes no such figure, because the HDB resale register holds only 99-year leases and nothing in it separates a flat’s lease from its age or its address. What it can do is divide: block 37 Teban Gardens Road has 39 years left and recently sold at a median $320,000, which is $684 for each month of lease. Block 152C Bedok South Road, with 95 years left, cost $1,421,444 — 4.4 times the price, and $1,247 a month of lease.

Citing this. The private figures were computed on Oct 2026 from 131,264 URA caveats covering Oct 2021 to Oct 2026; the HDB figures from the resale register to Oct 2026. Both are recomputed as the archive grows, so quote the date you read them. Permanent link: https://www.dailystudysg.com/lease-decay.