My Dream Home Survey 2025: What Do Boomer and Senior Homebuyers Want Today?

This article is part of a series based on findings from ERA Singapore's 2025 My Dream Home Survey, in collaboration with Ngee Ann Polytechnic's School of Design and Environment. The survey aims to uncover how Singaporeans’ housing aspirations are evolving amidst changing market conditions and lifestyle priorities.

Although they are in their golden years, older Singaporeans are not allowing their age to restrict their housing ambitions. Instead, both boomers and seniors stay active in the local property market, guided by clear goals and aspirations for their next move. But what exactly influences their housing choices? Here, we explore the thoughts of mature homebuyers – including their outlook on Singapore’s property scene, preferred neighbourhoods, and budget considerations.

Background

Figure 1: Occupational breakdown of baby boomer/senior respondents 

In our survey of over 1,100 Singaporeans, 156 respondents (13%), aged 60 and above, belong to the Baby Boomer/Senior cohort. Nearly half of these respondents (48%) are retirees, with a smaller proportion (31%) reporting a monthly household income of $6,000 or less. Despite this, Boomers maintain one of the highest ownership rates among all generations, with 92% indicating that they own their current homes. 

Figure 2: Living arrangements of baby boomer/senior respondents

While these findings suggest that Baby Boomers mainly focus on ageing comfortably in their ideal homes during the later years, this does not mark the end of their housing journey. To balance liveability with ease of maintenance, many seniors are choosing to downsize to smaller, more manageable properties. In other words, property remains an important priority for this group.

Seniors still have their dream homes in mind

While many might assume that the start of retirement marks the end of the property journey, the reality in Singapore is quite the opposite.

Figure 3: Where baby boomer/senior respondents see themselves on the property journey 

A closer examination of the data reveals that most seniors still have their dream homes in mind. Of this group, 35% remain eager to pursue their ideal property despite potential challenges, while 23% are actively working towards their desired dwelling. A smaller segment of just 3% also indicated that they are only one step away from achieving their dream home.

These findings correspond with seniors' responses regarding their planned timeframe for purchasing a new home. More than half (59%) showed interest in buying a property, but their timelines varied. Specifically, 11% intended to buy within six months to a year, 15% within one year, and another 15% within three to five years. The remaining 19% said they would consider buying a new home after five years.

Figure 4: Preferred funding methods for a new home among baby boomer/senior respondents

When it comes to funding their next home, most Boomers plan to rely on proceeds from selling their current property (68%), followed by cash savings from earned income (49%), and then by investment returns (29%). Only 18% indicated that they would finance their purchase with a mortgage – an expected outcome given age-related limitations on bank borrowing.

For seniors, dream homes are about convenience, affordability, and practicality

Like most other cohorts, Boomers define their ideal home as a mix of comfort, convenience, and affordability. A key part of this balance is having access to nearby amenities, with 78% considering this a desirable feature in a location. This supports the overall finding that 70% of all respondents prioritise being close to amenities.

Among specific neighbourhood amenities, public transport ranks highest, cited by 92% of Boomers, followed by supermarkets (70%). Market and hawker centres, as well as shopping centres, are also highly valued, with 67% and 66% of respondents respectively indicating them as priorities.

When considering home features, Boomers prioritise space, with larger unit sizes (76%) and bedrooms (74%) being the top concerns. This is followed by flexible layouts (65%) and balconies (48%). Among on-site facilities, swimming pools are the most valued (71%), followed by function rooms (64%) and gyms (50%).

Table 1: Budget preferences among baby boomer/senior respondents planning to purchase a home in the next three years

For Boomers aiming to purchase a condominium as their next home within the next three years, the $1 million to $2 million range is the most commonly cited budget for both a new condo (49%) and a resale condo (60%). Meanwhile, 60% of those interested in buying a resale HDB flat within the same period cited $500,000 to $1 million as their ideal budget.

These findings are consistent with last year’s results, where 56% of older condo seekers indicated a preference for the $1 million to $2 million range. However, among those targeting a resale HDB flat, a larger proportion were willing to spend between $500,000 and $1 million (58%), up from 38% last year. 

Ultimately, this consistency demonstrates how pragmatism is central to Boomer property choices, as they carefully weigh their housing needs against current market conditions. 

Explore the newest homebuying trends in Singapore

Want to learn more about what Singaporean homebuyers are looking for? 

Download the 2025 My Dream Home Survey Report below! Also, be sure to check out these spotlight pieces on young Singaporeans, millennials and Gen-Xers.