7 Penthouse Units At $1.5 Million Or Under In 2020/21 For More Spacious Living
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Ryan J
- June 4, 2021
- 10 min read
10 min read
Waking up with a penthouse view is on many a bucket list; or just having a living room you could play tennis in. Unfortunately, most Singaporeans are priced out of these high-end properties. But as we’re fond of pointing out at Stacked, the Singapore private property market is full of outliers and exceptions.
As the pandemic situation continues to unfold, many people have realised how important their living space actually is. Whether it be because of reasons such as a bigger home, or one that you can enjoy because of its open rooftops – the difference is now you actually have the time to properly enjoy a penthouse unit. Over the past year, we’ve kept an eye out for developments with the most affordable penthouse units – and here’s where you might stand a chance of owning one:
How did we build this list?
We picked out the following units over a year of transaction data. The following are a mix of Executive Condominiums (ECs) and fully private condos. All of them are resale units, and we capped the total price at around $1.5 million (this is about average, for a larger condo unit in today’s market).
While we can’t guarantee a unit at the same price, past transactions suggest there’s at least a reasonable chance.
Do note to tamper your expectations when it comes to penthouse units at this price point. Unlike what you may see on TV these are really penthouse units purely because it is on the highest floor (even if there are only 3 stories). Some may come with an open roof terrace, while others may just be the biggest unit in the development.
If you’re new to penthouse living it’s worth knowing that these units usually come with more maintenance to worry about (what with more space open to the elements). If the penthouse is dual level you may want to keep watch if you have elderly folk – the bedrooms are usually located on the upper floor and the stairs may be a mobility issue.
1. Northoaks (Privatised EC)
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 15 May 2020 | 2,486 sq. ft. | 15 | $485 | $1,205,000 |
Square Foot Research shows a price range of $528 to $687 psf, with an average of $637 psf.
Location: Woodlands Crescent (District 25)
Developer: Hong Leong Holdings Ltd.
Lease: 99-years
TOP: 2000
Number of units: 720 units
Key highlights:
Most market veterans will remember Northoaks, as it was a headline development when it launched in 1998. This is one of the rare ECs that’s quite close to an MRT station (about 740 metres, or around 13 minutes from Admiralty MRT). Northoaks was also known for two other qualities:
First, it’s close to the industrial area along Gambas Avenue (where Seagate is located). It’s just 1.9 km, or less than a five-minute drive to this area; Northoaks is a favourite of home owners and tenants who work there.
Second, Northoaks has multiple schools within the 1km enrolment priority distance:
- Admiralty Secondary (420 metres)
- Greenwood Primary (570 metres)
- Admiralty Primary (710 metres)
- Spectra Secondary (960 metres)
You’ll also notice that Northoaks has seen a healthy transaction volume in 2020/21, despite being an older development. This is likely due to the ongoing development of Woodlands as a regional centre. Northoaks is just a 3.8 km (eight-minute) drive to the upcoming Woodlands North Coast.
Northoaks is just 400 metres, or a five-minute walk, from Woodsvale condo below.
Northoaks Penthouse Floorplan
It is a good overall size for a 3 bedroom unit, and adopts the older layout where the living and dining areas are quite clearly segregated. If you are getting on in years you might want to reconsider this as the master bedroom is located on the second floor up a spiral staircase – or you could take one of the smaller common bedrooms as it does come with an attached bathroom.
It does come with 2 open roof terraces and a high volume living though which will be something unique.
2. Woodsvale (Privatised EC)
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 6 Aug 2020 | 2,626 sq. ft. | 14 | $484 | $1,270,000 |
Square Foot Research shows a price range of $552 to $693 psf, with an average of $635 psf.
Location: Woodlands Drive 72 (District 25)
Developer: Woodsvale Land Pte. Ltd.
Lease: 99-years
TOP: 2000
Number of units: 696 units
Key highlights:
Woodsvale is comparable to Northoaks, in terms of location (see above, these condos are five minutes from each other). Like Northoaks, this older EC is also starting to benefit from the overhaul of Woodlands.
Comparing between the two is difficult, as they’re the same age and size. However, Woodsvale does have the advantage of being closer to Admiralty MRT (560 metres, or a nine-minute walk).
Beyond that, comparing between the two comes down to personal preferences over layout and facilities.
Woodsvale Penthouse Floorplan
The penthouse unit here is rather sizeable at 2,626 square feet. It is set on two levels, with 2 common bedrooms on the first floor, and the master bedroom and another common bedroom on the second. Like Northoaks, there is a an extended ceiling height over the living and dining area, which does add a touch of exclusivity to the unit.
3. Elias Green
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 30 Apr 2021 | 1,668 sq. ft. | 16 | $779 | $1,300,000 |
Square Foot Research shows a price range of $605 to $779 psf, with an average of $682 psf.
Location: Elias Green (District 18)
Developer: Elias Development Pte. Ltd.
Lease: 99-years
TOP: 1994
Number of units: 419 units
Key highlights:
Note that recent transactions could be related to the push for an en-bloc sale. Elias Green was targeting a reserve price of $780 million, back in 2018. The tender closed in January 2019, and further updates haven’t been provided.
That said, Elias Green will benefit from the Cross Island Line (CRL) station of Tampines North, if it’s still around in 2029. This station will be located just 330 metres from the development.
In the meantime, Elias Green is well priced for a condo in the hub of its neighbourhood. This development is only 2.1 km (about a five-minute drive) to Downtown East, which is a recreational and dining hub. It’s only slightly further (2.6 km) to IKEA Tampines and the Giant Hypermarket across from it.
For day-to-day amenities, an HDB mall (Elias Mall) is just a 12-minute walk away. All in, this is a very conveniently located family condo for the Pasir Ris area; especially for its price point. The only drawbacks are the worries regarding an impending en-bloc, and the simple fact that Elias Green shows its age; the facilities and façade are visibly dated.
Elias Green Penthouse Floorplan
Those looking for a “proper” penthouse may be disappointed at the one at Elias Green as it is basically just the top floor of the blocks. The unit size is slightly larger than the regular units, and the good thing here is each of the 3 bedrooms come with an attached bathroom. Like what you’d see in most older well-sized developments, the living and dining areas are kept separate.
4. The Canopy (EC)
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 13 Aug 2020 | 2,196 sq. ft. | 12 | $615 | $1,350,000 |
Square Foot Research shows a price range of $750 to $883 psf, with an average of $827 psf.
Location: Yishun Avenue 11 (District 27)
Developer: MCC Land (Singapore) Pte. Ltd.
Lease: 99-years
TOP: 2014
Number of units: 406 units
Key highlights:
The Canopy has appeared on bargain hunters’ radars lately. The reason is timing: it is just two years past its MOP period, and should be fully privatised by around 2024. Recent buyers are likely expecting prices to jump, once this 10-year mark is reached.
(Do note that, if you upgrade to an EC from an HDB flat, you don’t have to pay the ABSD if you buy the EC before selling your flat).
As with most ECs, there isn’t any MRT station nearby; but the Canopy has a lot to offer drivers. Junction Nine and Northpoint City, the two retail hubs of the area, are only a 1.25 and 1.5 km drive respectively. This comes to about a seven-minute drive.
For more day-to-day needs, an HDB mall (Yishun Mall) is just 550 metres away. This is about seven minutes on foot.
That said, you do have to be okay with living in a high-density area. The Canopy faces many nearby HDB blocks, and it’s alongside a busy road.
The Canopy Penthouse Floorplan
You may recognise the age of a development through its floor plan sometimes, and it’s easy to tell that this one is of a newer vintage due to its more regular shape and efficient layout. Here, you get the advantage of a dry and wet kitchen, and it comes with 4 bedrooms for bigger families.
The penthouse is set over 2 floors, with the master bedroom on the top with an open roof terrace. There is also double volume ceiling height over the living and dining which is always nice.
5. Euphony Gardens
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 24 Sep 2020 | 2,454 sq. ft. | 4 | $562 | $1,380,000 |
Square Foot Research shows a price range of $501 to $732 psf, with an average of $680 psf.
Location: Jalan Mata Ayer (District 27)
Developer: Frasers Centrepoint Homes
Lease: 99-years
TOP: 2001
Number of units: 304 units
Key highlights:
Euphony Gardens is one of the cheapest condos in a low-density area. This small development (only 304 units and four storeys) is nestled in a landed housing enclave. While the age shows in the façade and facilities, this may be the closest you can get to a landed-living experience for the price.
These areas are meant to be exclusive, so they’re usually light on amenities. But Euphony Gardens is a bit of an exception. The famous Chong Pang Nasi Lemak is just a 500-metre walk from this development, along a stretch which includes a McDonald’s and smaller eateries.
For retail, Northpoint City is just a 1.3 km or a six-minute drive away. Overall, you won’t feel the inconvenience despite Euphony Garden’s seclusion.
Get this for the living space and serenity though, as the facilities are ageing and nothing to shout about. This development is only 300 metres from Sembawang Cottage (see below).
6. Eastwood Centre
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 12 Nov 2020 | 3,197 sq. ft. | 4 | $469 | $1,500,000 |
Square Foot Research shows a price range of $528 to $819 psf, with an average of $719 psf.
Location: Eastwood Road (District 16)
Developer: Ho Bee (Eastwood Park) Pte. Ltd.
Lease: 99-years
TOP: 1998
Number of units: 48 units
Key highlights:
Eastwood Centre is for buyers who emphasise convenience and space, and don’t care about the façade or facilities.
This boutique development is better known for its Cold Storage and Subway than it is for residential units (in fact, most of the people living here don’t even realise it’s a condo. The name doesn’t help). We probably don’t need to explain the appeal of living on top of a Cold Storage!
Inside Eastwood Centre, the units are built in true 1990’s spirit (i.e., everything is upsized and humongous). The smallest units are two-bedders, which range from 926 to 1,012 sq. ft. And as you can see in the transaction above, a $1.5 million unit runs a jaw-dropping 3,197 sq. ft.
This is likely inspired by the landed properties that surround it, as Eastwood Centre is in a low-density enclave.
The main drawback is inaccessibility; there’s no MRT station nearby, and only three bus routes (10, 14, and 45). Facilities wise, there’s nothing. No pool, no gym, no BBQ, etc.
(It is across the street from Bedok Food Centre, but that’s only an amenity if you like overpaying for hawker food).
This is a niche option for those who prize seclusion and space, and don’t like to venture out of their area too much.
Eastwood Centre Penthouse Floorplan
The penthouse at Eastwood Centre is pretty massive, but it’s hard to tell from just the floor plan alone. It’s size is deceiving though, as most people would expect there to be at least 4 bedrooms. Instead, all the 3 bedrooms here are located on the lower floor, while the second floor contains the giant roof terrace and an outdoor jacuzzi.
If you are after indoor living space, this is definitely not one for you. But if you are one of those that love to entertain or revel in the outdoors, this could be interesting to look at.
Last penthouse transaction:
| Date | Unit size | Floor | Price psf | Total price |
| 13 Apr 21 | 2,282 sq. ft. | 3 | $642 | $1,465,000 |
Square Foot Research shows a price range of $528 to $819 psf, with an average of $719 psf.
Location: 369 Sembawang Road (District 27)
Developer: Management Development & Construction Pte. Ltd.
Lease: Freehold
TOP: 1997
Number of units: 20 units
Key highlights:
This development is only 300 metres from Euphony Gardens (see above). Sembawang Cottage is a love-it or hate-it type of development.
On the one hand, the building is pretty much a hub of the area. Canadian Pizza, McDonald’s, Domino’s Pizza, and more operate out of here (famed local ice-creamery The Daily Scoop is also here).
On the other hand, some buyers are immediately put off by this, as they might feel the point of living in a landed enclave is peace and quiet. Despite the name, Sembawang Cottage can feel more commercial than residential.
Besides this, the key differentiators from Euphony Gardens are that it’s freehold, and even smaller with just 20 units. Between the two though, we’d say Euphony Gardens has aged better, and had more of a family-home aura.
Still, to each their own – and we’d be hard pressed to find a $642 psf, freehold residence in a landed area.
In terms of location, Sembawang Cottage shares the same general qualities as Euphony Gardens.
For those who absolutely must have large units, you don’t always need to break the bank
Consider it a matter of prioritisation. If you’re willing to make trade-offs – such as accepting an older property, or dealing with the lack of MRT access – you can probably find something in your budget range.
So for an in-depth look and comparison of new and resale properties alike, follow us on Stacked. We’ll keep you abreast of the latest offerings in the Singapore private property market.
If you’d like to get in touch for a more in-depth consultation, you can do so here.
