Rising Property Values Drive Singapore Insurance Growth

Singapore’s property insurance sector is poised for sustained growth over the coming years, driven primarily by rising residential property values, robust housing transactions, and evolving technological and regulatory frameworks, industry experts have said.

According to GlobalData, Singapore’s property insurance market is projected to expand by 6.3% in 2026. In 2025, the sector accounted for 19% of total general insurance premiums, making it the country’s third-largest insurance segment. Analysts anticipate that by 2030, total premiums could surpass USD 1.2 billion, further enhancing the market’s financial significance.

Residential property transactions are a central growth driver. The Housing & Development Board (HDB) has forecast that resale flats and private residential developments will continue to experience an upward trend through 2026. In 2025, 10,815 private residential units were sold—the highest in recent years. Although mid-year global economic uncertainties and changes in U.S. trade policies temporarily slowed transactions, lower interest rates towards year-end spurred a strong market recovery.

High-value residential properties have also contributed significantly to rising insurance demand. In Q3 2025, transactions exceeding USD 5 million grew by 20%, driving demand for customised insurance policies. Standard coverage is often insufficient for luxury homes, prompting homeowners to seek comprehensive protection.

Regulatory changes have further influenced insurance uptake. In July 2025, Singapore extended the minimum property holding period from three to four years and increased stamp duties for sellers at all levels. These measures are expected to encourage broader adoption of full home insurance policies over short-term fire-only coverage.

Digital distribution is emerging as another key factor. In 2026, online sales of home insurance are expected to accelerate, with several rental platforms already integrating basic home insurance into their packages, offering convenience and accessibility to consumers.

Key Singapore Property Insurance Indicators

Analysts believe that insurers expanding digital and embedded distribution channels while simplifying claims processes will be best positioned to capture a larger market share in Singapore’s property insurance sector over the next decade.