10 Cheapest Private Condos For First-Time Homebuyers (From $545,000)

Unless you’re in a high-income bracket or have help from parents, not many first-time buyers can start with a condo. This has been true for a long time, and it’s certainly true in the pricey 2024 market. However, we’ve put together some of the most affordable resale condo options we can find at the moment, with the priciest among seen to transact at $618,000. If you’re not too focused on certain niceties (e.g., needing it to be very new, or having lots of facilities), these might work out for you:

Most affordable private property options for first-timers

Interesting options from the list

We’re leaving out the first two options  – People’s Park Complex and The Hillford – from below because they are rather niche properties. People’s Park Complex is more of a rental option, largely for the people working in the shops downstairs; it’s not typically for own-stay use. The Hillford is a unique property that was initially meant to be for retirees, and has only a 60-year lease that started in 2013 – as such, we doubt it appeals to many – generally younger – first-time home buyers.

For prices of condos not in the list below, be sure to scroll down for the full table of prices!

1. The Inflora

The Inflora is a 396-unit, leasehold condo built in 2016. Whether or not this condo is for you can mostly be answered by one question: Do you like going to Changi Airport a lot, either for work or because places like Changi Jewel are a draw for you? 

If the answer is yes, this is one of the most affordable ways to live near the airport. Even the two-bedders at Inflora remain below $1 million (the most recent transaction, in September this year, was $958,000 for a 743 sq. ft. unit). The one-bedders can be as low as $660,000 or less (463 sq. ft.). 

For the more investment-minded, such as first-timers who want to live with parents while renting out their first property, Inflora may have some merit. You can get to Changi Airport in about five minutes by car, and it’s just a bit further to Changi Business Park. Flora Drive is also wholly given over to private residences, so it’s good for those who dislike living near loud malls or interchanges (and in case you’re wondering, the flight paths from the airport don’t roar over this condo.)

The main issue with Inflora is that you really need to drive or be willing to cab a lot. There’s no MRT nearby, and public transport access is quite limited. For those looking in the far future, there is some concern over en-bloc prospects: land parcels near the airport tend to have more height restrictions, which may be a drawback for collective sales. Also do note that the Inflora is one of the few leasehold condos in an area more well-known for affordable freehold condo options.

Recent 1 bedroom units

2. Kovan Grandeur

Kovan Grandeur is a boutique condo, with just 74 units. This is a leasehold development built in 2011, which provides an affordable entryway to District 19 (in particular Kovan). 

While Grandeur is situated along a row of landed homes, we unfortunately can’t say it feels very private. There’s a place of worship right next door, and it’s a little close to Tampines Road. What you’re really getting, for a reasonable price point, is access to the amenities of Serangoon. Grandeur is about a 9 to 10-minute walk to Kovan MRT (NEL), which is just one stop from Serangoon. There, you’ll also have access to the CCL, and to NEX Megamall. 

(It might be a little over 10 minutes though, so not everyone will be happy about the distance.)

If you don’t want to brave the crowds at NEXT, Heartland Mall Kovan is also next to the MRT, as is the neighbourhood’s Market & Food Centre. This is the centre of a mature enclave, so you can easily find an NTUC, coffee shops, minimarts, and other usual heartland amenities. 

While Grandeur isn’t going to rival the likes of Woodleigh Residences or Stars of Kovan, it’s cheaper by an impressive margin. In July this year, a 915 sq. ft. unit here transacted for just $970,000, whilst smaller one-bedders can go for as low as $730,000. If you don’t mind having to walk a bit longer to the MRT station, it might be well worth the savings. 

Recent 1 bedroom units

3. Grandview Suites

If you like living in the convenient heart of Geylang, and you don’t care too much about nice views, Grandview Suites might do the job for you. This boutique (52-unit) freehold condo is for those who prioritise convenience over aesthetics or facilities. 

Grandview Suites is next to the famous No Signboard seafood restaurant (Geylang branch) and is surrounded by some of Geylang’s most famous eateries. JB Ah Meng is just down the road, as is Mongkok Dim Sum in the other direction; and because many of the nearby eateries are open 24/7 or until early dawn, you’ll never lack for eating spots. There are also plenty of convenience stores and minimarts around here. Overall, excellent for anyone who works night shifts or odd hours.

Aljunied MRT station (EWL) is within walking distance, and this is just one stop from Paya Lebar Quarter (PLQ). If you need a cheaper alternative to staying in PLQ itself, this may do it for you.

These traits make Grandview a highly rentable property, and the existence of very small one-bedders (377 sq.ft.) attest to that. But there are also bigger-sized units of 1,300+ sq. ft., which have transacted for below $1.2 million. 

While the surroundings will never be aesthetically pleasing or quiet, Grandview might be one of the more affordable, freehold RCR properties close to PLQ. If you’re not a fan of the “concrete jungle” though, look somewhere else.

Recent 1 bedroom units

4. Suites @ Kovan

Suites is a 16-unit, freehold apartment built in 2010 (no facilities, just living spaces). It’s long been overshadowed by the fancier – and newer – Stars of Kovan across the road; but for those who want a more affordable option, Suites might do it.

Suites @ Kovan is within walking distance of Kovan MRT (NEL), which puts you just one stop away from Serangoon and the NEX Megamall. The surrounding areas mainly consist of eateries, some of which are also from the mixed-use Stars of Kovan across the road. Otherwise, Heartland Mall Kovan is next to the MRT station, which can fulfil most day-to-day needs. As a side benefit, Anderson Serangoon JC is within walking distance.

The surroundings of Suites @ Kovan is something of a self-contained enclave, where you don’t need to travel out much for food or day-to-day retail. But it is probably the oldest-looking private residence in the area, and it doesn’t show up well against surrounding condo and landed options (some people have told us it looks like a small hotel).

But with the family-sized units (1,044 sq. ft.) transacting at just $1.16 million, this may be one of the more affordable ways to live near Serangoon.

Recent 1 bedroom units

5. Parc Rosewood

If you like greenery and outdoor activities, Parc Rosewood is an affordable way to have all that. This is a leasehold, 689-unit condo with an excellent greenery view, in the Woodlands area. Note that Parc Rosewood is in the same general neighbourhood as top-seller Norwood Grand, although it’s much further from the Woodlands South MRT station (TEL).

Parc Rosewood was itself a top seller when it launched in 2012, on the basis of competitive pricing (allegedly, units started from as low as $400,000!) Also interesting was the developer’s choice to have 10 swimming pools for variety.

The nearby Woodgrove provides eateries as well as an NTUC, and the Woodlands HDB enclave has the usual slew of small convenience stores, coffee shops, etc. Unfortunately, the bigger retail hubs like Causeway Point will require you to travel out. 

Parc Rosewood also has a good range of schools nearby, including Innova JC. Innova Primary, Si Ling Primary, the Singapore Sports School, Woodgrove Primary, Christ Church Secondary, and Fuchun Secondary are all within a close distance (although do note that the Singapore Sports School will eventually move to Kallang). 

Prices here are highly affordable, with a 1,700+ sq. ft. unit recently transacting at just $1.61 million. This isn’t, however, a condo for those who want to be near big malls or hub areas. 

Recent 1 bedroom units

For more affordable property options around Singapore, reach out to us or follow us on Stacked. If you’d like to get in touch for a more in-depth consultation, you can do so here.