10 Most Affordable New Launch Condos With Available Units In 2023 (By Unit Type)
- Ryan J
- September 30, 2023
- < 1 min read
Due to the housing supply crunch in previous years, homes have been selling fast – and the affordable ones require you to move quickly. While the situation now is nowhere near as dire as before (new launches are not selling out as fast), homes that are well-priced and in desirable locations still move off the market relatively quickly.
So if you are in the market for a new condo, here’s a list of the most affordable new launch condos that still have units left (as of Q3 2023):
Most affordable new launches
|Projects||1BR Prices From|
|The LakeGarden Residences||$1,061,500|
|Lentor Hills Residences||$1,315,000|
|Projects||2BR Prices From|
|The LakeGarden Residences||$1,249,900|
|Pasir Ris 8||$1,504,000|
|Lentor Hills Residences||$1,589,000|
|Projects||3BR Prices From|
|The Botany at Dairy Farm||$1,898,000|
|Lentor Hills Residences||$1,938,000|
|Projects||4BR Prices From|
|The Botany at Dairy Farm||$2,462,000|
|Lentor Hills Residences||$2,561,000|
|Pasir Ris 8||$2,596,000|
|Projects||5BR Prices From|
|The Botany at Dairy Farm||$2,967,000|
|The LakeGarden Residences||$3,208,800|
Notable condos from the list:
Location: Yuan Ching Road (District 22)
Developer: Wing Tai
Possible TOP: 2028
Number of units: 306
The LakeGarden Residences is the new development that will be built off the site of the former Lakeside Apartments, which went en bloc for $273.89 million in May 2022.
LakeGarden Residences is an interesting counterpoint to J’den, which is another upcoming new launch in the Jurong area. The two seem to be complementary rather than competing: while J’den is within the more built-up area near Jurong East MRT, LakeGarden offers an alternative that’s closer to the greenery of Jurong Lake.
As the name implies, LakeGarden’s selling point is its proximity to Jurong Lake; this area is famous for the Chinese Garden and Japanese Garden, besides the lake itself. This is one of the most photographed areas in Singapore (it’s said the bridges in the gardens are the most common locations for wedding shoots in the country.)
The condo looks out over this greenery, as you would expect; and this is one of the most tranquil parts of Jurong (around 3/4 of the development will enjoy Jurong Lake view). There’s little in the way of traffic noise or crowds. The tradeoff is the distance to the MRT station – you’ll likely want to use a bus connection. Bus 49, just outside the condo, will take you to Ng Teng Fong hospital, which is just a few minutes walk from Jurong East MRT (EWL, NSL, JEL).
(Lakeside MRT is actually the closest station; but given the malls, offices, and major amenities are at Jurong East, most residents will probably head there directly.)
For those who like more urban settings and conveniences, we’d look closer to the Jurong East station; J’den is probably better for that crowd. But if you like big park spaces, you’ll like LakeGarden more.
2. North Gaia (EC)
Location: Yishun Close (District 22)
Developer: Sing Holdings Ltd
Possible TOP: 2027
Number of units: 616
North Gaia is an EC, so this is an affordable way to get a development with facilities with a waterfront view (some units look out over the Sungei Khatib and Johor Strait). Like LakeGarden above, this is a project designed for nature lovers; the main appeal is being in a quiet and green enclave, with good access to cycling and walking trails.
While North Gaia is not in a heavily developed area, it’s probably still convenient enough (at least, when it comes to amenities). Junction 9 mall is around a nine to 10-minute walk, and there’s a Sheng Siong here (along with the usual heartland conveniences like nail and hair salons, clinics, boutiques, etc.) Junction 9 is also next to the Yishun HDB enclave, which has coffee shops, minimarts, childcare services, and so forth.
The main highlight here is nature though; the Khatib Bongsu Park Connector is quite popular for its canopy walk, and for the scenery when you’re cycling; there’s a long stretch that runs alongside the Sungei Bongsu River.
Like many ECs however, the tradeoff for the lower price is proximity to the MRT station. There is a bus stop near the condo with service 801, which takes you to Yishun MRT (NSL) in just around three stops. That’s where you will also find Northpoint City and the bus interchange, which is the central hub for the area.
That said, Yishun clearly still isn’t a location that suits everyone. Even with the popularity of ECs and the more affordable pricing, it still hasn’t sold as well as the other ECs like Tenet and Copan Grand.
3. The Myst
Location: Upper Bukit Timah Road (District 23)
Possible TOP: 2029
Number of units: 408
The Myst was launched at a highly competitive time, which was the same day as Lentor Hills Residences, and just before Pinetree Hill and Grand Dunman. The lower cost of The Myst is likely an attempt to draw attention to an area that’s not the top of mind for most buyers. This condo is next to two older counterparts (Hazel Park and Cashew Heights) which have 999-year leases, but the Myst itself is a 99-year leasehold condo.
Being a leasehold condo next to more than one freehold (or 999-year) counterpart is generally considered a drawback; so the developer’s initial pricing was quite smart. We note that one specific layout (the one-bedders) was priced at $998,000 during the early launch, and units below $1 million were certainly enough to draw attention away from the lease.
(Remember that landlords usually care about quantum over lease, as it’s quantum that determines rental yield.)
As you’d expect from the Bukit Timah area, The Myst’s main highlight is greenery. It’s got a good view of the nearby Bukit Gombak Park; and developers have said that 75 per cent of the land area will be for common use. That’s quite generous, given the small unit count of 408 units.
Note that contrary to Google Maps, The Myst is not more than 10 minutes from Cashew MRT (DTL). You can cut across some of the buildings rather than follow the road, so it’s closer to around five or six minutes on foot.
That said, The Myst is a bit thin on “across-the-road” amenities, and you’ll likely have to head somewhere else (e.g., Hillion Mall or Junction 10) for more heavy-duty shopping. This isn’t so much a drawback though, given the intended demographic: this condo is meant for people who don’t want to be next to noisy malls or train stations
CommentaryThe Myst, A New Launch Condo With Prices Under $1 Million: A 5-Minute Overview Of Upper Bukit Timah’s Latest Launchby Sean
4. The Arden
Location: Phoenix Road (District 23)
Developer: Qingjian Realty Pte Ltd
Possible TOP: 2027
Number of units: 105
With just 105 units, some might consider The Arden to be not just small, but a boutique condo. These projects are known for their higher degree of privacy and exclusivity; and the developer definitely capitalised on that. You’ll see this in the loft-like layouts, which feature higher-end finishing and 3.2 metre ceiling heights (4.6 metres for penthouse units.)
The Arden is also built on elevated ground, to provide a buffer against traffic noise while enhancing the view.
But herein comes the surprise: despite having some quite differentiated features, Arden isn’t priced as you might imagine (but probably representative of its location). It averages $1,776 psf – and for the sake of comparison, most new launches in the past year have stood at over $2,000 psf.
The Arden also differs from many boutique condos, in that it’s not as out-of-the-way as you might think. The nearby Teck Whye HDB enclave is well-developed, and you can find amenities like coffee shops, a Sheng Siong, provision shops, etc.
That said, The Arden does require an LRT connection to get to the train station. Phoenix LRT is about an eight-minute walk, and connects to Choa Chu Kang MRT (NSL, JSL). Once you get to Choa Chu Kang though, you have access to Lot One Mall, the major retail hub of the neighbourhood.
5. Tembusu Grand
Location: Jalan Tembusu (District 15)
Developer: Tembusu Residential Pte Ltd (JV between CDL & MCL Land)
Possible TOP: 2028
Number of units: 638
Tembusu Grand stands out for being one of the few large condos, in an area saturated with boutique developments. The Marine Parade area has perhaps too many small condos with small land spaces; so Tembusus Grand breaks the trend by being an actual full-sized, full-suite condo.
Tembusu Grand is right next to the famous foodie stretch of Tanjong Katong Road, where you’ll find popular places like Eng’s Wanton Noodle. This also means Tembusus Grand is within walking distance of Tanjong Katong Girls’ School and Tanjong Katong Secondary. Chung Cheng and Haig Girls’ are also within one-kilometre, making this a good spot for school enrolment.
From the bus stop outside this condo, services like 31 will take you straight to the lifestyle stretch of East Coast Road, or the nearby Parkway Parade. This area has a lot of family-friendly pubs, restaurants, supermarkets, etc. Once Marine Parade MRT (TEL) is operational, this will also provide train access – this station is right in front of Parkway Parade.
This is a condo that will appeal to east siders, and also has some rental potential (the Katong area is a known expat enclave).
Nevertheless, those looking in this area are spoilt for choice at the moment. There’s still Grand Dunman and The Continuum to consider (if you rather a freehold condo), and a new upcoming development for another Tembusu plot which was bought by Sim Lian recently for $828.8 million.
For more information on new launches, or in-depth reviews of new and resale properties, follow us on Stacked; we’ll keep you updated.