$1.2 Million For A Freehold Landed Property? Here Are The Cheapest Freehold Landed Estates In Singapore

7 min read

Landed properties show the biggest divergence, when it comes to freehold versus leasehold. Indeed, some buyers will tell you a 99-year lease defeats the entire purpose of buying a landed home, as houses are often intended as multi-generational assets. Despite the demand, however, not all freehold landed properties are $10 million, super-luxury houses.

In the pandemic world, there definitely has been increased demand for landed homes due to the extra space and privacy it brings. For those who are looking for the absolute cheapest without as much concern for an exit, leasehold landed homes are surely the way to go. But for those looking for a better asset, here’s where we’ve spotted some of the lowest prices to date:

A quick glimpse at freehold landed housing in 2021

As of end-July 2021, freehold landed prices averaged $1,482 psf. This is up close to 11 per cent from the same time last year ($1,335 psf). 

Transaction volumes have been falling, since the peak in April this year – end-July saw only 59 transactions, whereas the previous low for the entire year was in October 2020 (84 transactions). 

Realtors attributed this to the return to Phase II (Heightened Alert), which has impeded home viewings. 

The cheapest freehold landed homes we’ve spotted in 2020/21:

Land	Price	Size (Sqft)	Date	Address	Tenure	Area
N.A.	$1,254,000	758	2-Jan-20	171 ONAN ROAD	Freehold	Geylang
N.A.	$1,300,000	1049	20-Jan-20	38 JALAN ISNIN	Freehold	Bishan
MACPHERSON GARDEN ESTATE	$1,360,000	885	30-Jul-20	25 JALAN MULIA	Freehold	Toa Payoh
N.A.	$1,500,000	1483	29-Dec-20	67 LORONG 14 GEYLANG	Freehold	Geylang
N.A.	$1,500,000	1483	29-Dec-20	67 LORONG 14 GEYLANG	Freehold	Geylang
N.A.	$1,600,000	1922	17-Sep-20	16 GUILLEMARD CRESCENT	Freehold	Geylang
N.A.	$1,605,560	1825	26-Jan-21	42 JALAN TARI PIRING	999 yrs from 01/01/1879	Sengkang
N.A.	$1,680,000	1277	13-Jan-20	4 HOW SUN AVENUE	Freehold	Serangoon
OPERA ESTATE	$1,700,000	1311	7-Dec-20	59 AIDA STREET	Freehold	Bedok
SERANGOON GARDEN ESTATE	$1,800,000	1840	9-Dec-19	25 CARDIFF GROVE	999 yrs from 01/01/1956	Serangoon

The following housing estates appear often in the list:

• Macpherson Garden Estate
• Sembawang Hills Estate
• Thomson Garden Estate
• Opera Estate
• Teacher’s Housing Estate 

Here’s a quick look at these:

1. Macpherson Garden Estate

Location: 1 Jalan Setia (District 13)

Completion date: Est. 1970 

Number of units: Unknown, but there are 332 blocks

Current prices indicates a price range of $1,339 to $2,604 psf, with an average of $1,913 psf.

The last five transactions this year were as follows:

Date	Type	Unit Size	Price PSF	Total Price
23 Jul 2021	Terrace	1,031 sq. ft.	$2,095	$2,160,000
30 Jun 2021	Terrace	884 sq. ft.	$2,354	$2,080,000
25 Jun 2021	Terrace	886 sq. ft.	$1,896	$1,680,000
17 Jun 2021	Terrace	883 sq. ft.	$2,400	$2,118,000
14 Jun 2021	Terrace	885 sq. ft.	$2,238	$1,980,000

There have been 184 profitable transactions, and 28 unprofitable transactions.

Notable details:

Macpherson Garden Estate is old, and the age shows on many of the units here. However, this is more than offset by its strong central location. Most homes here are only an 11-minute drive to Orchard, and an eight-minute drive to Paya Lebar Quarter (PLQ).

Macpherson Garden Estate has been making its way onto plenty of shortlists, over the past few years. This is due to the growing prominence of PLQ, which is a new commercial hub. Given the exorbitant prices we’re starting to see in Paya Lebar, it’s unsurprising that some buyers would rather fork out the same amount for a freehold, landed property.

You do have to accept that this is an old area, however, with squeezy roads and a somewhat dilapidated look. 

Keep an eye out for this one, as we don’t think it will be the cheapest freehold estate for much longer.

2. Sembawang Hills Estate

Location: Casuarina Road (District 20)

Completion date: Est. 1980 

Number of units: 1,063

Current prices indicates a price range of $931 to $2,050 psf, with an average of $1,535 psf.

The last five transactions this year were as follows:

Date	Type	Unit Size	Price PSF	Total Price
8 Jul 2021	Terrace	1,501 sq. ft.	$1,833	$2,750,000
8 Jul 2021	Terrace	2,633 sq. ft.	$1,629	$4,290,000
23 Jun 2021	Terrace	1,493 sq. ft.	$1,842	$2,750,000
21 Jun 2021	Terrace	1,527 sq. ft.	$1,473	$2,250,000
8 Jun 2021	Terrace	2,738 sq. ft.	$1,771	$4,850,000

There have been 112 profitable transactions, and one unprofitable transaction.

Notable details:

Sembawang Hills Estate exemplifies the quiet enclaves of Upper Thomson. The area is just row after row of landed homes, without a single tall development blocking the view. From here it’s just a six-minute drive to the start of the Lower Pierce Reservoir (formerly Kallang River Reservoir) nature trail. This trail is a hotspot for nature lovers, as it goes through Singapore’s last mature secondary forest.

There are few immediate amenities, as you’d expect from a landed enclave; but there’s a Giant supermarket at Jalan Kuras that’s a six-minute walk away. Ang Mo Kio Hub is only a six-minute drive away, for other retail needs.

This estate is very close to Teacher’s Housing Estate, which is a two-minute drive away (see below). 

 3. Thomson Garden Estate

Location: Jalan Pintau (District 20)

Completion date: 1998 

Number of units: 500

Current prices indicates a price range of $1,135 to $2,395 psf, with an average of $1,809 psf.

The last five transactions this year were as follows:

Date	Type	Unit Size	Price PSF	Total Price
15 Jun 2021	Terrace	960 sq. ft.	$2,395	$2,300,000
11 Jun 2021	Terrace	994 sq. ft.	$2,114	$2,100,000
10 May 2021	Terrace	2,414 sq. ft.	$1,633	$2,740,000
7 May 2021	Terrace	1,633 sq. ft.	$2,226	$2,950,000
3 May 2021	Semi-Detached	2,226 sq. ft.	$1,031	$3,200,000

There have been 184 profitable transactions, and 37 unprofitable transactions.

Notable details:

Thomson Garden Estate is a rarity, in being a landed enclave with MRT access. For now, it’s about a 10-minute walk to Marymount MRT on the Circle Line (CCL). Once the Upper Thomson MRT station is ready, it will be about six-minutes away, and also give access to the Thomson – East Coast Line (TEL). 

On top of this, Thomson Plaza (which has been refurbished a few years back) is within a 10-minute walk. This provides most of the retail for the neighbourhood, as well as an NTUC FairPrice. 

Those who want landed homes, but hate having to drive out for things, will like this project.

4. Opera Estate

Location: Fidelio Street (District 15)

Completion date: 1980 

Number of units: 182

Current prices indicates a price range of $800 to $2,472 psf, with an average of $1,680 psf.

The last five transactions this year were as follows:

Date	Type	Unit Size	Price PSF	Total Price
26 Jul 2021	Terrace	1,600 sq. ft.	$2,368	$3,788,000
16 Jul 2021	Terrace	1,633 sq. ft.	$1,977	$3,228,000
6 Jul 2021	Terrace	3,054 sq. ft.	$1,287	$3,930,000
2 Jul 2021	Terrace	2,877 sq. ft.	$1,223	$3,520,000
30 Jun 2021	Terrace	2,185 sq. ft.	$1,464	$3,200,000

There have been 119 profitable transactions, and nine unprofitable transactions.

Notable details:

Opera Estate is one of the most recognizable landed enclaves in the east, and most people just refer to it as part of the “Siglap landed area”. It’s especially known for its proximity to the venerable St. Stephen’s School (10 minute-walk from most parts of the estate); but Opera Estate Primary is also within the vicinity (three-minutes’ walk).

In terms of amenities, this estate is very close to Siglap Shopping Centre, which is 770 metres away, or about a four-minute drive. It’s 13-minutes on foot but be warned – there’s a steep uphill climb involved, depending on where you approach from. This area has a long stretch of eateries, ranging from steak houses to fast food. There’s also a Cold Storage in Siglap Shopping Centre.

It’s exclusive, quiet, and is self-contained; but watch out for Sundays. The local places of worship mean nasty jams along the narrow road, to the point where traffic wardens are sometimes needed (and sometimes, an inconsiderate sort will park and block your driveway). 

5. Teacher’s Housing Estate

Location: Tagore Avenue (District 26)

Completion date: 1967

Note: The lease is mixed for different units in this estate. Some are freehold, and some are on 999-year leases, from 1885.

Number of units: Unknown, 256 units recorded in 1968

Current prices indicates a price range of $1,146 to $1,958 psf, with an average of $1,407 psf.

The last five transactions this year were as follows:

Date	Type	Unit Size	Price PSF	Total Price
2 Jul 2021	Terrace	1,600 sq. ft.	$2,368	$3,788,000
3 Jun 2021	Terrace	1,633 sq. ft.	$1,977	$3,228,000
21 May 2021	Terrace	3,054 sq. ft.	$1,287	$3,930,000
20 May 2021	Terrace	2,877 sq. ft.	$1,223	$3,520,000
29 Apr 2021	Terrace	2,185 sq. ft.	$1,464	$3,200,000

There have been 63 profitable transactions, and 23 unprofitable transactions.

Notable details:

Teacher’s Housing Estate is unique because it wasn’t built by a property developer. It was built by the Singapore Teachers Union (STU) in 1967, and sold at subsidised rates to school teachers (Ironic, given most teachers would be priced out today). 

This area was given a facelift in 2004, under Nee Soon’s Estate Upgrading Program (EUP). So while the houses do have dated, the area still looks fresh.

Teacher’s Housing Estate is very close to Sembawang Hills Estate (see above) and shares most of the locational advantages. 

Incidentally, there are plenty of jokes about how there’s only one school within enrolment radius (CHIJ St. Nicholas’ Girls School, at 900 metres or a nine-minute drive). 

Older landed homes require careful inspection; take extra caution when buying

For homes that are 40 years or older, it’s advisable to have a contractor, or some other experienced eye, check out the place before buying. In cases of serious damage, renovation costs will far outweigh that of non-landed counterparts. Contact us on Stacked if you need help.

For more on the Singapore private property market, and updates on the cheapest freehold landed property, follow us on Stacked. We’ll keep you in touch with the latest trends, and provide you with the most in-depth reviews.

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