Condos in Singapore – or any home, for that matter – don’t come cheap.
But if you do some digging like we did, you’ll find that some condos in Singapore’s prime districts or city fringes were sold at HDB prices.
The URA website has a record of all past sale transactions, and these were the cheapest resale condos sold over the past year. If you’re a house hunter with a smaller budget, you’d be happy to know this!
Core Central Region
Districts 9-11: Central Singapore
Orchard, Bukit Timah, Holland, River Valley, Tanglin, Newton
Orchard, Tanglin, Newton… These are all districts we associate with being super expensive, so you’d probably expect any condo here in Singapore’s most prestigious address to be priced by the millions.
Would you have guessed that a unit at Suites @ Shrewsbury, a condo near Newton, was sold for only $550,000 (334 sqft, $1,648 psf)?
Districts 1, 2 and 6: Singapore’s Central Business District
Tanjong Pagar, Chinatown, CBD area
The cheapest unit sold here was in Chinatown’s iconic People’s Park Complex, for only $469,800 (409 sqft, $1,149 psf).
Apart from People’s Park Complex, there’s also Spottiswoode Park near Tanjong Pagar, where a unit sold for $750,000 (850 sqft, $882 psf). Seems a lot more expensive, but bear in mind this is also twice the size of the former, which means the unit price is much lower.
City fringe districts
Districts 7-8: Central fringe of Singapore
Beach Road, Bugis, Rochor, Little India, Farrer Park
In this district, the most affordable unit sold was in Suites @ Owen along Owen Road, a 5-minute walk from Farrer Park MRT, which went for $568,000 (366 sqft, $1,552 psf).
Like Suites @ Owen, many of the new condo projects in these neighborhoods are characterised by their compact unit sizes best suited for individuals or couples. (For reference, a 4-room HDB flat is about 970 sqft big.)
Other similarly affordable condos include Citigate Residence along Rangoon Road and Parc Somme along Somme Road, mostly concentrated around the Jalan Besar region.
Districts 14 -15: Central East Singapore
Eunos, Geylang, Kembangan, Paya Lebar, Katong, Marine Parade, Siglap, Tanjong Rhu
Shedding its reputation as a less-than-ideal district, Geylang is fast becoming a popular option for living along the city fringe. (There are even new BTO flats popping up here!)
As far as condos go, Geylang is home to some of the most affordable condos including Le Regal, a mixed development condo atop a shopping complex, which sold for as low as $495,000 (366 sqft, $1,353 psf).
Love the charm of heritage-rich Katong? Keep a lookout for units in Prestige Loft, Haig 162 or Suites @ Guillemard, sat along the adjacent streets, for $500,000-ish.
Districts 12, 13 and 20: Central North Singapore
Balestier, Moulmein, Novena, Toa Payoh, Braddell, Ang Mo Kio, Bishan, Thomson
A unit in Thomson V Two along Sin Ming Road sold for $480,000 (441 sqft, $1,088 psf) in March 2019.
That’s a great steal, and it gets even better: When the nearby Upper Thomson MRT Station opens in 2020, you’ll eventually get direct MRT connectivity to Orchard, Outram Park, Marina Bay and more via the Thomson-East Coast Line.
Pro tip: You’ll also find some Design, Build and Sell Scheme (DBSS) flats in these estates – private developer-built HDB flats with supposedly better designs – with a much lower psf price.
For instance, 3-roomers (721 sqft) in The Peak @ Toa Payoh go for an average of $447,500, working out to $620 psf. Half the price, double the space, if you do the math!
Districts 3-5: Southwest Singapore
Queenstown, Tiong Bahru, Keppel, Mount Faber, Harbourfront, Telok Blangah, Buona Vista, Pasir Panjang, West Coast
These well-loved city fringe neighborhoods are home to a good number of condos, and with a good location also comes a higher price point.
But more affordable ones include mixed development Viva Vista along South Buona Vista Road – in 2019, 6 units sold for $600,000 and below, the cheapest one having been sold for $550,000 (323 sqft, $1,703 psf).
A couple of F&B spots, a mini-mart, and services such as medical clinics and a laundromat are located within the condo, so the convenience is definitely a plus point.
District 16-18: East Singapore
Bedok, Tampines, Pasir Ris, Loyang, Changi
There’s this one street in the East Side that’s basically Affordable Condo Avenue: Along Flora Drive, the cheapest unit in The Inflora went for $490,000 (463 sqft, $1,059 psf). On the same street, the cheapest unit in Palm Isles went for $510,000 (506 sqft, $1,008 psf).
If you’re lucky enough to find an ideal unit in these condos, thank Lady Luck! These condos are in especially high demand – agents with ready buyers on hand are even putting out ads looking for sellers, instead of the other way round.
In new launch news, 1-bedroom units in The Jovell, along Flora Drive (surprise!), also starts from $5xxk.
You might also find that the financial responsibilities of buying a new launch condo is also relatively less taxing compared to buying a resale condo, since the payment schedule is staggered according to the building progress of the development, instead of having to be paid entirely upfront.
District 19: Northeast Singapore
Hougang, Punggol, Sengkang
The cheapest unit sold here was a 1-bedroom unit in Hougang’s Kovan Grandeur that costed $475,000 (366 sqft, $1,298 psf).
And if you’ve got your eyes on condos in the increasingly vibrant Punggol, Parc Centros might be a good pick – it’s right in the heart of Punggol Central, near Punggol MRT Station, Waterway Point, and Punggol Waterway Park. Units here sold for as low as $600,000.
HDBs are also hot picks here, so keep a lookout – with so many BTO projects popping up in these estates, plenty of homeowners will be looking to sell once their flat reaches the 5-year minimum occupation period (MOP).
Districts 26-28: North Singapore
Upper Thomson, Yio Chu Kang, Yishun, Seletar, Sembawang, Mandai
When High Park Residences in Seletar was first launched for sale in 2015, the showroom drew more than 8,000 interested buyers for its 1390 units on the opening weekend alone.
Surprising? We wouldn’t say so. It’s got a 3-metre high water slide, futsal court, an outdoor theatrette, F&B outlets within the condo and more. Yes please!
And it’s popular even amongst resale buyers – a unit here sold for $490,000 (388 sqft, $1,290 psf), while 4 others sold for $500,000 (388 sqft, $1,290 psf).
Districts 21-25: West Singapore
Upper Bukit Timah, Hillview, Dairy Farm, Bukit Panjang, Bukit Batok, Clementi, Jurong, Boon Lay, Choa Chu Kang, Lim Chu Kang, Tengah
The Hillford is a bit of a special one. While condos in Singapore are usually either freehold or 99-year leasehold, this condo was built with a 60-year lease. The shorter the remaining lease term, the lower the price point in general, which meant its indicative price was as low as $980 psf when it was first launched for sale.
Despite the 60-year lease, it’s still incredibly cheap for any condo, not to mention one in the upmarket Bukit Timah area.
Resale prices remain affordable. 16 units were sold for below $500,000 ($1,173 psf to $1,243 psf) in 2019 alone. The most affordable one transacted at $467,000 (398 sqft, $1,173 psf).
You’ll also find several units on the rental market – some homebuyers buy units at The Hillford specifically for the sake of renting out. Hello, passive income!
Affordable condos in Singapore
Hopefully, by now, you’re no longer thinking, “I’ll never be able to afford a condo in Singapore.”
There’s a catch, of course: Majority of these super cheap condo units are shoebox apartments that aren’t the most family-friendly if you’ve got, say, 3 kids and a dog.
But if price is your ultimate priority, these affordable condos are certainly looking quite attractive!
Time to start your condo shopping yet? A tip: The prices above are the final selling prices of each condo unit, which might have been negotiated down from the original asking price that you see on property listings. So if you find The One but it’s a little out of budget, it doesn’t hurt to chat on the condo for sale listing and ask – you’ll never know unless you ask! Good luck 🙂