Where To Find The Cheapest New Launch Condos In 2024 (From $1.15 Million)
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Ryan J
- February 19, 2024
- 7 min read
7 min read
“Cheap” is a relative term, especially as of 2024; but while even some HDB upgraders may struggle right now, we can at least look for the cheapest among existing options. The good news is that, with the supply crunch seemingly at an end, and some 40+ new developments in the coming year, we may be looking at prices that can’t go much higher (keep your fingers crossed). Here’s where to find the cheapest options for now:
Cheapest one-bedder units
Core Central Region (CCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Orchard Sophia | 1,356,000 | 1,377,000 | 1,395,000 | 3 | Core Central Region |
| Hill House | 1,382,000 | 1,453,500 | 1,557,000 | 29 | Core Central Region |
| 10 Evelyn | 1,406,590 | 1,619,650 | 1,826,680 | 11 | Core Central Region |
| Midtown Bay | 1,545,000 | 1,774,000 | 2,101,000 | 39 | Core Central Region |
| One Bernam | 1,548,000 | 1,610,000 | 1,714,000 | 16 | Core Central Region |
| Midtown Modern | 1,611,000 | 1,638,000 | 1,668,000 | 3 | Core Central Region |
| Irwell Hill Residences | 1,647,000 | 1,647,000 | 1,647,000 | 1 | Core Central Region |
| Pullman Residences Newton | 1,676,000 | 1,676,000 | 1,676,000 | 1 | Core Central Region |
| Grange 1866 | 1,685,000 | 1,724,500 | 1,980,000 | 6 | Core Central Region |
| Leedon Green | 1,692,000 | 1,704,000 | 1,715,000 | 4 | Core Central Region |
| Cuscaden Reserve | 2,352,000 | 2,352,000 | 2,352,000 | 22 | Core Central Region |
Rest of Central Region (RCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Tembusu Grand | 1,344,000 | 1,417,000 | 1,608,000 | 31 | Rest of Central Region |
| Pinetree Hill | 1,369,000 | 1,415,500 | 1,437,000 | 8 | Rest of Central Region |
| Grand Dunman | 1,390,000 | 1,513,000 | 1,706,000 | 72 | Rest of Central Region |
| Claydence | 1,442,900 | 1,442,900 | 1,442,900 | 3 | Rest of Central Region |
| The Landmark | 1,454,030 | 1,507,380 | 1,564,610 | 13 | Rest of Central Region |
| TMW Maxwell | 1,482,000 | 1,546,000 | 1,798,000 | 265 | Rest of Central Region |
| The Continuum | 1,486,000 | 1,601,000 | 1,703,000 | 63 | Rest of Central Region |
| Canninghill Piers | 1,712,000 | 1,728,000 | 1,808,000 | 5 | Rest of Central Region |
Outside Central Region (OCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| The LakeGarden Residences | 1,153,300 | 1,212,000 | 1,331,800 | 9 | Outside Central Region |
| The Myst | 1,214,000 | 1,228,000 | 1,328,000 | 7 | Outside Central Region |
| Lentor Hills Residences | 1,329,000 | 1,390,500 | 1,416,000 | 8 | Outside Central Region |
| Lentor Modern | 1,358,000 | 1,358,000 | 1,358,000 | 1 | Outside Central Region |
It isn’t looking good for new investors in 2024, who are the most typical buyers in this category. Condo rental rates are already starting to level off, so investors may find the current prices unpalatable – it used to be a norm that one-bedder condos would be in the range of $1 million or lower, but the lowest we’re seeing today is about $1.2 million.
Consider, for instance, a one-bedder renting for around $2,500 per month in an OCR area. At $1.2 million; this would come to a gross rental yield of about 2.5 per cent, whereas most investors would be looking for gross yields of around four per cent for a small one-bedder.
We’ve also noted the decline of sell-one, buy two strategies in the property market, and the high prices of new launch shoebox units can only make that worse. Using this strategy, the aim is usually to buy a bigger unit and a smaller unit (often a one or two-bedder) under a different spouse’s name. But with the new launches all climbing past $1.2 million, it can be tough to put an entire separate mortgage under the other partner’s name.
As for pure home buyers, they may struggle to accept a $1.2 million+ price tag for a one-bedder, when they could possibly buy a resale two-bedder at around the same price.
That said, LakeGarden Residences is an interesting option here: it’s at the foot of the scenic Jurong Lake Gardens (hence the name) and has bus connections to Jurong East MRT, which is a major hub with malls like IMM, JEM, and the upcoming J’den (which is a condo with a strong commercial component). This could make it one of the more rentable west-side condos, or quite convenient for singles.
Orchard Sophia is also interesting, as it’s within walking distance of Dhoby Ghaut MRT, and $1.37 million – despite being a tiny 460+ sq. ft. unit – might be an affordable quantum for a single who wants to live in Orchard. It might also be viable from a rental perspective. We’re not calling it cheap, mind you, just that the quantum is as affordable as you might find in an Orchard-area residence.
Cheapest two-bedder condos
Core Central Region (CCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Orchard Sophia | 1,643,000 | 1,869,000 | 2,021,000 | 39 | Core Central Region |
| Hill House | 1,937,000 | 2,021,500 | 2,145,000 | 18 | Core Central Region |
| One Bernam | 1,994,000 | 2,349,000 | 2,853,000 | 100 | Core Central Region |
| 10 Evelyn | 2,093,800 | 2,152,300 | 2,277,850 | 5 | Core Central Region |
| Grange 1866 | 2,241,000 | 2,591,000 | 3,024,000 | 19 | Core Central Region |
| Midtown Bay | 2,468,000 | 3,163,000 | 4,108,000 | 41 | Core Central Region |
| Ikigai | 2,560,740 | 2,566,770 | 2,572,800 | 2 | Core Central Region |
| One Draycott | 2,640,000 | 2,685,000 | 3,639,000 | 37 | Core Central Region |
| Klimt Cairnhill | 2,650,000 | 3,080,000 | 3,528,000 | 23 | Core Central Region |
| Perfect Ten | 2,681,480 | 2,700,400 | 2,755,280 | 3 | Core Central Region |
| Cuscaden Reserve | 2,774,000 | 3,379,000 | 3,420,000 | 134 | Core Central Region |
| Boulevard 88 | 4,785,000 | 5,202,600 | 5,385,300 | 14 | Core Central Region |
Rest of Central Region (RCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Atlassia | 2,969,260 | 2,994,978 | 2,994,978 | 3 | Rest of Central Region |
| Bartley Vue | 1,649,000 | 1,742,000 | 1,754,000 | 3 | Rest of Central Region |
| The Arcady | 1,702,000 | 1,963,000 | 2,091,000 | 51 | Rest of Central Region |
| Claydence | 1,847,100 | 2,049,200 | 2,303,000 | 12 | Rest of Central Region |
| Grand Dunman | 1,819,000 | 2,047,000 | 2,251,000 | 39 | Rest of Central Region |
| Mori | 1,705,000 | 1,705,000 | 1,705,000 | 1 | Rest of Central Region |
| Pinetree Hill | 1,702,000 | 1,958,000 | 2,123,000 | 113 | Rest of Central Region |
| Tembusu Grand | 1,930,000 | 1,975,000 | 2,161,000 | 27 | Rest of Central Region |
| Terra Hill | 1,865,000 | 2,146,500 | 2,272,000 | 18 | Rest of Central Region |
| The Continuum | 1,756,000 | 1,933,000 | 2,180,000 | 100 | Rest of Central Region |
| The Landmark | 1,968,130 | 2,092,775 | 2,195,110 | 28 | Rest of Central Region |
| TMW Maxwell | 2,404,000 | 2,638,000 | 2,685,000 | 49 | Rest of Central Region |
Outside Central Region (OCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| The Arden | 1,250,000 | 1,296,000 | 1,296,000 | 5 | Outside Central Region |
| The LakeGarden Residences | 1,326,800 | 1,563,700 | 1,904,800 | 51 | Outside Central Region |
| Hillhaven | 1,379,096 | 1,540,346 | 1,740,038 | 64 | Outside Central Region |
| The Shorefront | 1,450,000 | 1,488,000 | 1,545,000 | 8 | Outside Central Region |
| The Myst | 1,494,000 | 1,563,000 | 1,762,000 | 40 | Outside Central Region |
| Lentor Hills Residences | 1,622,000 | 1,666,000 | 1,804,000 | 11 | Outside Central Region |
| The Botany at Dairy Farm | 1,766,000 | 1,766,000 | 1,766,000 | 1 | Outside Central Region |
The CCR did bear the brunt of recent cooling measures, and this has resulted in a narrowing price gap between the RCR and CCR (full details in this article). This has resulted in some RCR two-bedders matching or even exceeding the prices of CCR counterparts.
Atlassia, for instance, is pricier than many CCR counterparts on the list, and Claydence, Grand Dunman, and Terra Hill are pricier than Orchard Sophia or Hill House. As the size differences between two-bedders may not be too significant (e.g Grand Dunman’s 775 sq. ft. two-bedders versus Orchard Sophia’s 710 sq. ft. counterparts), buyers might want to seriously contemplate the advantages of a more central location, versus a little bit of extra space.
Another interesting consideration here is the lower price of The Continuum and Tembusu Grand’s two-bedders ($1.933 million and $1.975 million respectively) versus nearby competitor Grand Dunman ($2.047 million). All of these new launches are very close by, but Grand Dunman’s higher price is despite being mere minutes closer to Dakota MRT. Given the broadly similar locational advantages, the price point could be a tiebreaker in buyers’ decision-making.
Cheapest three-bedder condos
Core Central Region (CCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Orchard Sophia | 2,166,000 | 2,323,000 | 2,367,000 | 3 | Core Central Region |
| Hill House | 2,210,000 | 2,330,000 | 2,391,000 | 7 | Core Central Region |
| Enchante | 2,743,900 | 2,965,350 | 3,274,000 | 6 | Core Central Region |
| 10 Evelyn | 3,363,175 | 3,404,883 | 3,446,590 | 2 | Core Central Region |
| Ikigai | 3,465,280 | 3,635,800 | 4,429,600 | 3 | Core Central Region |
| One Bernam | 3,632,000 | 3,992,000 | 7,538,000 | 19 | Core Central Region |
| Cuscaden Reserve | 4,289,000 | 4,289,000 | 4,289,000 | 22 | Core Central Region |
| Midtown Bay | 4,714,000 | 5,241,500 | 5,452,000 | 5 | Core Central Region |
| Perfect Ten | 4,759,920 | 4,759,920 | 4,759,920 | 1 | Core Central Region |
| Klimt Cairnhill | 4,880,000 | 5,360,000 | 5,766,000 | 21 | Core Central Region |
| The Giverny Residences | 5,497,000 | 5,975,000 | 5,982,000 | 3 | Core Central Region |
Rest of Central Region (RCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Bartley Vue | 2,046,000 | 2,073,000 | 2,418,000 | 9 | Rest of Central Region |
| Royal Hallmark | 2,063,000 | 2,063,000 | 2,063,000 | 1 | Rest of Central Region |
| Mori | 2,213,000 | 2,234,000 | 2,356,000 | 5 | Rest of Central Region |
| Tembusu Grand | 2,324,000 | 2,792,000 | 3,126,000 | 106 | Rest of Central Region |
| The Continuum | 2,341,000 | 3,042,000 | 4,228,000 | 222 | Rest of Central Region |
| Terra Hill | 2,352,000 | 2,895,000 | 3,157,000 | 83 | Rest of Central Region |
| The Arcady | 2,364,000 | 2,970,500 | 3,481,000 | 62 | Rest of Central Region |
| Pinetree Hill | 2,401,000 | 3,008,500 | 3,291,000 | 112 | Rest of Central Region |
| Atlassia | 2,402,424 | 2,506,516 | 2,610,608 | 2 | Rest of Central Region |
| Grand Dunman | 2,409,000 | 2,893,000 | 4,080,000 | 113 | Rest of Central Region |
| Blossoms By The Park | 2,410,000 | 2,441,000 | 2,843,000 | 12 | Rest of Central Region |
| Claydence | 2,528,600 | 2,834,100 | 3,466,250 | 11 | Rest of Central Region |
| The Reef At King’s Dock | 2,822,312 | 2,951,112 | 3,902,392 | 6 | Rest of Central Region |
| The Landmark | 2,937,160 | 3,143,285 | 3,391,120 | 13 | Rest of Central Region |
Outside Central Region (OCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| North Gaia | 1,183,000 | 1,292,000 | 1,505,000 | 180 | Outside Central Region |
| Altura | 1,389,000 | 1,389,000 | 1,389,000 | 1 | Outside Central Region |
| The Shorefront | 1,715,000 | 1,832,500 | 2,958,000 | 10 | Outside Central Region |
| The Arden | 1,812,000 | 1,933,000 | 2,134,000 | 22 | Outside Central Region |
| The Myst | 1,846,000 | 2,192,000 | 2,604,000 | 85 | Outside Central Region |
| Hillhaven | 1,852,612 | 2,001,908 | 2,158,084 | 44 | Outside Central Region |
| Sceneca Residence | 1,888,000 | 2,438,000 | 2,708,000 | 59 | Outside Central Region |
| The Botany at Dairy Farm | 1,898,000 | 2,157,000 | 2,582,000 | 104 | Outside Central Region |
| The LakeGarden Residences | 1,942,800 | 2,295,800 | 2,697,100 | 102 | Outside Central Region |
| Lentor Hills Residences | 1,958,000 | 2,287,000 | 2,979,000 | 63 | Outside Central Region |
| Lentor Modern | 2,211,000 | 2,462,000 | 2,701,000 | 11 | Outside Central Region |
| Lentor Mansion | 2,222,900 | 2,280,000 | 2,351,000 | 28 | Outside Central Region |
| Sky Eden@Bedok | 2,232,000 | 2,273,000 | 2,513,000 | 5 | Outside Central Region |
| Ki Residences At Brookvale | 2,320,000 | 2,320,000 | 2,320,000 | 1 | Outside Central Region |
This is arguably the most important category to the average home buyer, as most HDB upgraders are families who need at least a three-bedder (roughly on par with a 4-room flat in size).
We can see the OCR is now the only location with new launches below the $2 million mark: Altura and North Gaia are both Executive Condominiums (ECs). The locations would not be at the top of mind for most buyers: Altura is in Tengah, which is the newest town in Singapore: it will take many more years to develop, and the project is certainly not comparable to a mature estate in amenities or accessibility until then.
Likewise, North Gaia is too far from Yishun MRT to stand out, although some may think that it’s in a better spot than Altura (at least it has walking access to Junction 9, and some existing HDB enclaves that are quite developed).
The Shorefront is a boutique (23-unit) development with a rather inaccessible location along Jalan Loyang Besar, which explains the price. Homeowners who enjoy a high level of privacy, and who have access to private transport, might enjoy this project; but it’s of niche appeal.
This leaves many homeowners choosing between the two ECs (if they are eligible), or The Arden, which relies on LRT access to Bukit Panjang or Choa Chu Kang MRT station. Whether this is good is subjective; some buyers don’t mind, some buyers abhor needing an added LRT connection – but we’re inclined to say amenities are not bad, since it’s LRT access to Lot One/Hillion Mall, and the nearby HDB enclave is reasonably well developed.
For the other options, we feel that many buyers are going to be priced out. A quantum of over $2 million is a stretch for the average Singaporean, unless you’re lucky enough to be selling a particularly high-value flat.
Cheapest four-bedder condos
Core Central Region (CCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Enchante | 3,608,300 | 3,610,950 | 3,613,600 | 2 | Core Central Region |
| Midtown Modern | 6,327,000 | 6,654,000 | 6,894,000 | 9 | Core Central Region |
| Irwell Hill Residences | 9,452,000 | 9,452,000 | 9,452,000 | 1 | Core Central Region |
| The Giverny Residences | 9,566,000 | 9,920,000 | 9,979,000 | 3 | Core Central Region |
Rest of Central Region (RCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Mori | 2,359,000 | 2,359,000 | 2,359,000 | 1 | Rest of Central Region |
| Grand Dunman | 3,053,000 | 3,579,000 | 4,803,000 | 91 | Rest of Central Region |
| Pinetree Hill | 3,270,000 | 3,552,000 | 3,874,000 | 73 | Rest of Central Region |
| The Continuum | 3,273,000 | 3,695,500 | 5,733,000 | 82 | Rest of Central Region |
| Tembusu Grand | 3,288,000 | 3,454,000 | 3,743,000 | 56 | Rest of Central Region |
| Blossoms By The Park | 3,380,000 | 3,610,000 | 4,135,000 | 26 | Rest of Central Region |
| Terra Hill | 3,451,000 | 4,638,000 | 5,585,000 | 48 | Rest of Central Region |
| The Arcady | 3,588,000 | 3,672,000 | 7,587,000 | 10 | Rest of Central Region |
| Claydence | 5,085,400 | 5,110,075 | 5,134,750 | 2 | Rest of Central Region |
| Canninghill Piers | 5,544,000 | 5,544,000 | 5,544,000 | 1 | Rest of Central Region |
Outside Central Region (OCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| North Gaia | 1,643,000 | 1,693,500 | 1,916,000 | 30 | Outside Central Region |
| Altura | 1,702,000 | 1,728,000 | 1,746,000 | 7 | Outside Central Region |
| The Arden | 2,148,000 | 2,442,000 | 2,662,000 | 23 | Outside Central Region |
| The Botany at Dairy Farm | 2,462,000 | 2,650,000 | 2,946,000 | 29 | Outside Central Region |
| Hillhaven | 2,466,910 | 2,691,886 | 2,935,785 | 32 | Outside Central Region |
| Lentor Hills Residences | 2,596,000 | 2,825,000 | 2,979,000 | 53 | Outside Central Region |
| Pasir Ris 8 | 2,596,000 | 2,596,000 | 2,596,000 | 3 | Outside Central Region |
| Sky Eden@Bedok | 2,647,000 | 2,655,500 | 2,664,000 | 2 | Outside Central Region |
| Lentor Mansion | 2,648,000 | 2,715,500 | 2,891,000 | 60 | Outside Central Region |
| The Myst | 2,746,000 | 3,065,000 | 3,395,000 | 47 | Outside Central Region |
| The LakeGarden Residences | 2,797,400 | 2,871,850 | 4,939,100 | 31 | Outside Central Region |
| Sceneca Residence | 3,048,000 | 3,168,000 | 5,931,000 | 15 | Outside Central Region |
| AMO Residence | 5,588,000 | 5,588,000 | 5,588,000 | 1 | Outside Central Region |
We have nothing much to say here, beyond the above; the quantum is generally out of range for many Singaporeans. However, note that if you want a four-bedder, the two ECs (Altura and North Gaia) still have these at around $1.7 million; and they are the only options on the list at that price point.
It seems clear that, for the typical Singaporean buyer, those needing a four-bedder have been relegated to the resale segment.
Cheapest five-bedder condos
Core Central Region (CCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Enchante | 5,523,900 | 5,523,900 | 5,523,900 | 1 | Core Central Region |
| Irwell Hill Residences | 11,080,000 | 11,080,000 | 11,080,000 | 1 | Core Central Region |
| One Bernam | 17,149,000 | 17,149,000 | 17,149,000 | 1 | Core Central Region |
Rest of Central Region (RCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Grand Dunman | 3,954,000 | 5,140,000 | 8,193,000 | 70 | Rest of Central Region |
| Tembusu Grand | 4,028,000 | 4,136,000 | 4,244,000 | 37 | Rest of Central Region |
| Pinetree Hill | 4,402,000 | 4,494,500 | 4,650,000 | 19 | Rest of Central Region |
| The Continuum | 5,456,000 | 5,695,000 | 6,536,000 | 30 | Rest of Central Region |
| Terra Hill | 5,483,000 | 5,522,000 | 5,580,000 | 9 | Rest of Central Region |
| Canninghill Piers | 8,904,000 | 9,216,000 | 13,000,000 | 9 | Rest of Central Region |
Outside Central Region (OCR)
| Project Name | Min ($) | Median ($) | Max ($) | Units Remaining | Market Segment |
| Altura | 2,210,000 | 2,234,000 | 2,295,000 | 20 | Outside Central Region |
| The Botany at Dairy Farm | 2,967,000 | 3,092,000 | 3,281,000 | 8 | Outside Central Region |
| The Myst | 3,180,000 | 3,404,000 | 3,784,000 | 22 | Outside Central Region |
| Lentor Mansion | 3,191,000 | 3,269,000 | 3,544,000 | 39 | Outside Central Region |
| The LakeGarden Residences | 3,208,800 | 3,362,100 | 3,596,900 | 15 | Outside Central Region |
Anyone looking for a new launch of this size is probably not worried about finding the cheapest project. But in the off-chance someone is happy to part with $2.2 million+, Altura does have five-bedroom units, and it’s probably the cheapest option you’ll find among new launch five-bedders today. But still, it is certainly a niche market that would find such a quantum palatable for an EC in Tengah, given the options in the resale market.
Overall, the new launch market is still tough right now, for those who need family-sized units. We’d expect demand to continue mainly in the OCR given the high quantum; but on the flip side, we do see possibilities for more affluent investors to seize on the narrowing gap between RCR and CCR condo prices.
For more on the Singapore property market, as well as reviews of the projects above, follow us on Stacked. If you’d like to get in touch for a more in-depth consultation, you can do so here.
