A lot of upgraders and investors who go for bigger homes probably have a similar thinking: a big home will always hold its value because there will always be families looking for one. After all, families need more space and more bedrooms for the kids.

But what happens if there are fewer families around to buy these homes when you're ready to sell?

Singapore's fertility rate has fallen again.

According to the latest Population in Brief 2026, our resident total fertility rate dropped from 0.97 in 2024 to just 0.87 in 2025. That's well below the replacement level of approximately 2.1 children per woman.

But what does that have to do with your property?

A baby born in 2025 will only be around 21 years old in 2046. Most people that age won't be shopping for a five-bedroom condo anytime soon.

So it's not quite accurate to say today's low fertility rate means there will be fewer buyers for your big home in exactly 20 years.

The buyers in 2046 will largely come from people who are already alive today, including younger Singaporeans who will eventually marry, start families or upgrade. Immigration, household formation and income growth will also influence how many of them can afford larger properties.

In fact, despite Singapore's falling fertility rate, the number of resident households has continued to grow. According to SingStat, resident households increased from 1.463 million in 2024 to 1.487 million in 2025. That's approximately 24,000 more households in just one year.

So while fewer babies are being born, that doesn't necessarily mean fewer homes are needed. People are still forming new households, and smaller household sizes can mean more homes are needed to accommodate the same number of people.

But here's the distinction: more households don't automatically mean more demand for bigger homes. A growing number of smaller households may support overall housing demand without necessarily creating the same demand for four- or five-bedroom properties.

If Singapore continues having fewer children over the coming decades, smaller generations will eventually enter the housing market. And if fewer of them form larger families, demand for certain types of spacious family homes could change.

We're already seeing shifts in the population's age profile.

In 2015, citizens aged 20 to 64 made up 64.5% of the citizen population. By 2025, their share had fallen to 59.8%, according to Population in Brief 2025.

Of course, that doesn't mean the actual number of working-age citizens has fallen. In fact, the estimated number remained broadly similar over that period.

What has changed is their proportion relative to an increasingly older population.

This doesn't tell us how many people will buy larger homes in 2046, but it does suggest that future housing demand may look different from what homeowners are familiar with today.

So if your plan is to buy a big family home and sell it in a few decades, you are betting on there being enough families who can, and want to, pay for them in the future.

While the pool of younger buyers is getting smaller, Singapore's population is getting older. As of June 2026, 21.4% of Singapore citizens were aged 65 and above, compared with 13.7% in 2016. By 2035, more than one in four citizens is projected to fall into this age group.

And as more homeowners enter their retirement years, some will eventually start thinking about downsizing or right-sizing. Once the kids have moved out, it doesn't make sense to keep a five-bedroom home. That means larger homes could gradually come back onto the market as older owners sell and right-size.

But just because Singapore has more older homeowners doesn't mean all of them will put their big homes up for sale.

In fact, HDB's 2023/2024 Sample Household Survey found that approximately 86% of senior households preferred to continue living in their existing flats. That leaves roughly one in seven who either plan to move or haven't ruled it out..

Still, over the longer term, some older owners may choose to sell, while others may retain their properties or pass them on to family members.

And if more larger homes eventually return to the resale market, the impact may not be the same across every property segment.

For example, a five-bedroom condo in a well-connected development may still appeal to affluent families, multigenerational households or buyers who simply want more space. But a similarly sized unit in a less convenient location, with plenty of competing supply, may have a harder time standing out.

The question isn't just whether there will be more large homes for sale. It's whether the next generation of buyers will want those particular homes, and at what price.

Of course, there is not much an individual buyer can do about Singapore's fertility rate. But you can decide how much you want your property investment to depend on it.

If you are buying a large family home today, consider the worst-case scenario.

What if there are fewer buyers yet more competition when you eventually sell?

Your home might not automatically lose its value, but you do need to take some things into consideration. For example, it might take longer to sell. Maybe, buyers become more price-sensitive. Or, you have to accept a lower price than you originally expected. It might be prudent to test the numbers with the worst-case scenario in mind, so you'll be better prepared.

And not all large homes face the same risks.

A four-bedroom condo that appeals to both families with children and multigenerational households may have a wider pool of potential buyers than a five-bedroom unit designed for a very specific lifestyle. Similarly, a large landed home may appeal to a smaller but wealthier buyer segment, where purchasing power and the scarcity of comparable properties could matter more than overall household size.

In other words, it's not just about how big your home is. It's about who would realistically want to buy it next.

Some questions you can ask yourself before committing to a large home:

• Who is likely to buy this home 15 or 20 years from now? And how big is that buyer pool in this particular location?
• Does the layout work for different types of households? A family with children is one possibility, but what about a smaller household, a multigenerational family or an owner who wants to rent out part of the home?
• If the market is slow when I need to sell, can I afford to wait? Or would financial pressure force me to accept whatever offer comes along?
• Would I be better off with slightly less space in a stronger location? A smaller home that is easier to afford and appeals to more buyers may ultimately give you more options.

In any case, the property market isn't shaped by demographics alone.

A large home with strong fundamentals may still have plenty going for it even in a slower demand environment. Think good connectivity, established amenities, desirable schools, a practical layout, limited competing supply or genuine scarcity.

Additionally, people's incomes and housing needs can also change. A smaller household does not always mean a smaller home, especially if buyers have more money to spend or simply value having more space. And as we've seen from the increase in resident households, Singapore can continue to experience housing demand even as fertility rates decline. The question is whether that demand will extend to the type of large home you're buying.

Not necessarily.

If you're planning a family, having enough space for your children, parents or changing lifestyle needs can be a perfectly sensible priority.

You shouldn't compromise your family's needs today just because Singapore's demographics might look different 20 or 30 years from now.

But there's a difference between buying a big home because you need the space and buying one because you assume someone will always pay more for it later.

Singapore's fertility rate of 0.87 doesn't tell us what large family homes will sell for in 2046. The buyers then will be shaped by many factors, including household formation, migration, incomes, housing supply and changing preferences.

What it does remind us is that the next generation of homebuyers may not look exactly like today's.

There may still be plenty of households looking for homes. But how many of them will be looking for a four-bedroom condo, a five-bedroom penthouse or a large landed property? And how many will be able to afford one?

And when you're ready to sell, it won't matter how many bedrooms your family once needed. What matters is whether someone else sees enough value in them to pay your asking price.

So buy the space you need. But if you're also counting on your home to fund your next move or retirement, think about how easily you can eventually sell it.

Because a good property investment isn't just about how much your home could be worth.

It's also about whether you can find a buyer when you need one.