By Parhelia Gold Research
Gold vs Real Estate : Which Was the Better Investment ?
From 2015 to 2025, two assets dominated the conversation in Singapore — gold and real estate. Both grew in value but very differently.
Here are what the numbers actually show.
PART ONE
Gold's Decade of Strength
Gold started 2015 at around US$1,200 per troy ounce (about 31.1 grams). By 2025, it had climbed to nearly US$2,400 — more than doubling in price.
In Singapore dollar terms, 1 kilogram of gold now costs roughly S$185,000. Even a small bar of 100 grams is worth around S$18,500 today.
What drove these gains? Three main forces: the declining value of paper money, global uncertainty pushing investors toward safe assets, and central banks around the world buying large amounts of gold as a reserve.
Crucially, gold is also easy to buy and sell. You can purchase as little as 1 gram, trade it from your phone, and hold it without needing a lawyer or agent.
"Gold more than doubled in 10 years — with no stamp duty, no
maintenance fees, and no tenants to manage."
PART TW0
Singapore property's steady climb
Private residential property prices rose around 40–50% over the same decade. That is a
meaningful gain — but significantly slower than gold.
Property also generates rental income — typically 2% – 3% per year before costs. Factor in property tax, maintenance, agent fees, and the occasional repair, and net rental yield is often closer to 1.5% – 2%.
The government's cooling measures — Additional Buyer's Stamp Duty (ABSD), loan limits, and
restrictions on foreign buyers — deliberately kept price growth in check. This was a policy choice to keep housing affordable, but it also capped investment returns.
The bigger challenge with property is the barriers to entry. To purchase a private condo in
Singapore, you typically need hundreds of thousands of dollars upfront. And once your money is in, it is not easy to take out because selling a property takes months and costs tens of thousands in fees.
"Property is stable and generates income — but it takes a large lump sum
to get started, and years to get your money back out."
SIDE BY SIDE
Comparing the two directly
Here is how gold and Singapore property stack up across the factors that matter most to everyday investors :
GOLD versus SINGAPORE PROPERTY
GOLD | SINGAPORE PROPERTY | |
|---|---|---|
Returns (10 years) | ~200% gain, 12% – 13% per year | ~40% – 50% gain, 4% – 6% per year |
Income | No rental — pure price gain | Rental yields of ~2% – 3% per year |
Liquidity | Instant — buy/sell anytime, globally | Slow — takes months to buy or sell |
Minimum buy-in | From S$240 (1g bar) upwards | Hundreds of thousands to millions |
Ongoing costs | Low — storage/vaulting fees | Stamp duty, tax, maintenance, agent fees |
Best for | Compounding & crisis protection | Steady income & long-term stability |
THE TAKE AWAY
What this means for you
Looking purely at investment returns over the last decade, gold was the clear winner.
It compounded faster, required less capital, and gave you more flexibility.
"Gold is attractive for wealth protection because it remains liquid and often holds value during economic uncertainty.
As a store of value, Gold can help preserve purchasing power when inflation rises or financial markets become volatile."
The key insight from the last decade is simple : gold rewards those who start early and stay
consistent. You do not need a large lump sum.
Parhelia’s monthly gold savings plan starting from S$200.
Start investing in Gold now. Start small, Grow big.