10 Cheapest Condos in Singapore for 2018
- June 29, 2018
- 6 min read
As we all know, Singapore is a small country. Go to any heartland mall on a weekday night and you can see tons of people out and about. If you have to take public transport to work in the morning you will be fully aware of how packed Singapore can get. Just to illustrate the lack of space here, our average number of people per square kilometre is at 7,796, which is reportedly higher than Hong Kong at 6,729 people per square kilometre. Of course, Hong Kong has a lot of unusable land unlike Singapore’s relatively flat surface so perhaps that explains the lower numbers. However, if you have been to Hong Kong before and visited a friend’s apartment you might still get a shock at how small the living spaces there can be.
So as with all small countries, it is no surprise that recent condo and HDB developments in Singapore have started to get smaller and smaller. If you are on a look out for a condo, here are the cheapest condos in Singapore for 2018 (based on real transactions).
1. City Loft
City Loft is a small development of just 40 units in the Little India area of Singapore in District 8. It has the usual bell and whistles of any development such as a swimming pool, gym and security. It is located close to both Farrer Park and Bendemeer MRT station so transport links and convenience is good although that area can get quite crowded. The recent unit was sold at $506,500 at $1,470 PSF. This translates to only 344 sqft in size. One plus point is that it is a freehold development.
2. People’s Park Complex
People’s Park Complex is an old historic development in Singapore in District 1. It is iconic in its own right and has been featured in many photos and publications. It is located in the Chinatown area and is right next to Chinatown MRT so should you stay here, convenience would be the least of your concerns. It is however a 99 year leasehold property and as it was built in 1970, it would have just over 50 years lease remaining. The last unit was sold this year at $510,000 for a 409 sqft unit which is $1,259 PSF.
3. Cavan Suites
Cavan Suites is one of the newer developments featured here, having just received its TOP in 2013. Although it is featured on our list for one of the cheapest condos in Singapore, its PSF price is not exactly cheap. It is located at the Lavender area in District 8 and it is situated about 5 mins walk away from Lavender MRT station. It has only 36 units and condo facilities such as a swimming pool, BBQ pits and a gym. The last unit was sold in 2018 at $570,000 for a 334 sqft unit which translates to $1,708 PSF. Yes and this is freehold as well.
4. Suites @ Guillemard
One of the cheapest condos in Singapore, Suites @ Guillemard is a freehold development that is located in the Paya Lebar area in District 15. However, Paya Lebar MRT station is situated close by but not fantastically near at more than 600m away. It has 72 units and is still considered to be new as it was only completed a few years ago in 2014. The last unit was sold at $445,000 at a the highest PSF in this list at $1,723 PSF. Unfortunately, this unit also takes the title for the smallest sized in this list, coming in at a measly 248 sqft.
5. Suites @ East Coast
The word “suites” seems to be a favourite amongst developers nowadays for smaller developments and the Suites @ East Coast is no exception. This is a freehold condominium located in the Bedok area in District 15 and has 116 units. Transport links for this does not seem to be as great as Bedok MRT station is more than a kilometre away, although the upcoming Siglap MRT station will be nearer it is still quite a walk away. It is situated along the very long Upper East Coast Road so if you take the bus this should fare better. The last small unit that was sold in 2018 was at $520,000 at $1,464 PSF which is 355 sqft in size.
6. Suites @ Paya Lebar
Suites @ Paya Lebar is a relatively new condo that was built in 2014. Although it is along Upper Paya Lebar Road in District 19, it is closer to the Serangoon area although Serangoon MRT station is about 700m plus away. It has 99 units and has all the usual condo facilities. The last small unit that was sold in 2018 was at $508,000 at $1,348 PSF which is 377 sqft in size.
7. The Inflora
The Inflora is the third largest development in this list with a total of 396 units. It was only completed in 2017 and it is a 99 year leasehold development. This is considered to be one of the cheapest condos in Singapore, with prices at about the $1,000 PSF range for a newish development. It is located in the Tampines area along Flora Drive in District 17 where there are many other condo developments. The connectivity of the place is not fantastic as Upper Changi MRT station is almost 2km away. The last unit sold in 2018 was a 463 sqft $515,000 unit at $1,113 PSF.
8. The Hillford
The Hillford is a new development that was completed in 2017. It is a unique development because its lease is capped at 60 years and it also contains 20 commercial units along with 281 residential units. It is located in the Upper Bukit Timah region in District 21 and is less than 1km away from Beauty World MRT station. The last cheapest unit in 2018 was sold at $450,000 with a size of 398 sqft at $1,130 PSF.
9. The Nautical
The Nautical is the second largest development on this list with a total of 435 units. It was completed in 2016 and is a 99 year leasehold development located in Sembawang in District 27. With regards to transport, Sembawang MRT station is about 800m away. Although when Canberra MRT station is up, it will be located slightly closer. The last unit was sold in 2018 at $530,000 with a size of 441 sqft at $1,201 PSF.
10. Eight Courtyards
Eight Courtyards is the biggest development on this list with a total of 656 units. It was completed in 2014 and is a 99 year leasehold development located in the Yishun area in District 27. The last unit was sold in 2018 at $540,000 for a size of 452 sqft at $1,194 PSF.
So with that, here is the list of the cheapest condos in Singapore for 2018 so far. Bear in mind this was based on the total price of the unit, so if you are looking for condos based on the PSF there are still others that have been sold at cheaper prices.
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