If you assumed a private home in Singapore now starts from a million dollars, the transaction records say otherwise. Over the past 12 months, buyers managed to buy condo units for as little as $570,000. That's less than the prices that over 5,500 resale HDB flats fetched over the same period.
But these affordable condo units are still pretty rare, and almost each of them comes with a catch. But they exist, they get sold each month, and for some buyers these properties are an appealing option.
So we went through each private residential caveat lodged between September 2025 and August 2026 to find out where the cheapest private homes are actually selling, what you get for the money, and what to check before you buy one.
Only about 1 in 22 condo resale transactions were priced at $800K or less
Of the 11,993 condo and apartment resales recorded in those 12 months, 535 went for $800,000 or less. That is about 4.5% or roughly one in every 22 transactions - and we left out executive condos (ECs), which come with their own rules on who can buy.
It wasn't always this rare to find resale condo units at that price point. In the 12 months to August 2009, almost half of all condo resales (48%) fetched prices that were $800,000 or less.
But that share of deals fell to 3.6% in 2013 as private property prices peaked, then climbed back to about 13% in 2020 and 2021, when the wave of shoebox units launched in the early 2010s started reaching the resale market.
Since then, it has shrunk every year and is now back to the levels last seen in 2013 and 2014.
| 12 months to August | Condo resales at $800K or less | Share of all condo resales |
|---|---|---|
| 2009 | 4,132 | 48.4% |
| 2013 | 290 | 3.6% |
| 2017 | 961 | 10.3% |
| 2021 | 2,044 | 13.3% |
| 2024 | 675 | 6.0% |
| 2025 | 638 | 5.0% |
| 2026 | 535 | 4.5% |
Two things are worth knowing about this. First, $800,000 isn't adjusted for price inflation, so part of the decline is simply private home prices rising around a fixed line.
Second, there is no new supply coming in at this price point: of the 8,098 new launch units sold in the same 12 months, not a single one of those projects included a unit that was priced at $800,000 or less. Moreover, only five new projects had units that were going for less than $1 million.
The cheapest new sale was a 484 sq ft unit at Tengah Garden Residences for $980,000. So the cheapest private homes in Singapore today are, without exception, resale units.
For comparison, 5,548 HDB flats changed hands for $800,000 or more over the same 12 months, and 1,807 resale flats were sold for at least $1 million. The average 5-room resale flat went for about $790,000. If you've been told a condo is out of reach because a resale flat already costs $800,000, it is worth knowing that the two markets now overlap.
Two "cheapest condo" prices you may have seen, and why we're not counting them
If you search URA's records for the lowest price, two sales come up that are excluded from our list. And we think that neither is what most people would call buying a condo.
$408,888 at Mayfair Park (September 2025). This 915 sq ft unit at 3A Jalan Bingka is recorded as an "apartment", but Mayfair Park is a landed estate off Rifle Range Road. URA has recorded about 100 sales there and only seven apartments.
The apartments have "A" addresses (1A, 3A and 5A Jalan Bingka) and no unit numbers, because they sit above shophouses: 1 Jalan Bingka, for instance, is a shophouse that last changed hands in 2020. It's a flat over a shop, with no condo facilities, and the lease began in 1952.
We wrote about Mayfair Park as one of the cheapest landed estates last year, and the same short lease explains this price. With about 25 years left, it will drop below 20 years in 2031, and after that no buyer can use their CPF to support a purchase.
$500,000 at The Serennia (May 2026). This is a 646 sq ft freehold unit on Pulasan Road, so on paper it is the cheapest condo resale of the year. But an identical 646 sq ft unit in the same block sold for $1,035,000 in January 2025, and this particular unit was bought new in 2009 for $687,990.
At $774 psf, the sale was about half the going rate. Some market watchers we consulted reckon that this was likely not an open-market sale: transfers between family members, partial shares and some distressed sales can be lodged at prices like this. So it's not a fair assessment of the resale value there.
Setting those two transactions aside, the cheapest condo resales of the past year start at $570,000.
Where the cheapest condos actually sold
These are the projects with resale transactions at the very bottom of the market over the past 12 months, with the most affordable options first. The rents are averages of one-bedroom leases in each project over the same period, from URA's rental records.
| Project | Area | Sold for | Size | Tenure | 1-bedroom rent |
|---|---|---|---|---|---|
| The Hillford | Jalan Jurong Kechil | $570K to $680K (11 sales) | 398 sq ft | 60 years from 2013 | $2,827 |
| Le Regal | Geylang Road | $570K to $775K (7) | 366 to 689 sq ft | Freehold | $2,589 |
| People's Park Complex | Chinatown | $600K to $688K (3) | 409 to 463 sq ft | 99 years from 1968 | $2,669 |
| Prime Residence | Lorong 22 Geylang | $600K (1) | 398 sq ft | Freehold | $2,668 |
| Airstream | St Michael's Road | $605K to $740K (4) | 334 to 495 sq ft | Freehold | $2,750 |
| Glasgow Residence | Glasgow Road | $610K to $635K (2) | 409 to 431 sq ft | 999 years | Too few leases |
| Pavilion Square | Geylang Road | $618K (2) | 398 sq ft | Freehold | $2,728 |
| High Park Residences | Fernvale | $625K to $785K (11) | 388 to 452 sq ft | 99 years from 2014 | $2,636 |
| The Inflora | Pasir Ris | $630K to $690K (11) | 463 to 484 sq ft | 99 years from 2012 | $2,507 |
| Parc Rosewood | Woodlands | $640K to $800K (17) | 431 to 581 sq ft | 99 years from 2011 | $2,454 |
| Kingsford Waterbay | Upper Serangoon View | $650K to $732K (13) | 474 to 484 sq ft | 99 years from 2014 | $2,612 |
| Palm Isles | Pasir Ris | $650K to $748K (8) | 506 to 560 sq ft | 99 years from 2011 | $2,593 |
| euHabitat | Jalan Eunos | $705K to $800K (29) | 506 to 624 sq ft | 99 years from 2010 | $2,974 |
The resale prices recorded are transactions dated between September 2025 and August 2026, thus it's possible that some of these projects also had sales that fetched less than $800,000.
Broadly, the cheapest condos fall into four groups.
1. The 60-year lease: The Hillford
The cheapest resale transactions - in condos with a reasonably full set of facilities - were at The Hillford. The development sits off Jalan Jurong Kechil, and is about an 11-minute walk from Beauty World MRT on the Downtown Line.
According to transaction records, 11 of its 398 sq ft units were sold for $570,000 to $680,000, with most of the resale units going for around $600,000.
The reason for the uncommonly low price is the land tenure. The Hillford was built on a 60-year lease that began in 2013, which is unusual for a private condo. That means it has about 47 years left on its tenure today, and the lease runs out in 2073.
We looked at whether the 60-year lease made sense a few years ago. So far, sellers haven't done badly: units of this size had an average price of about $441,000 when the project launched in 2014, and the owners who resold in the past year made an average capital gain of 29%, before costs, after holding on to the property for almost nine years.
The rent is one of the most attractive figures on this list. One-bedroom units here are leased for an average of $2,827 a month, which works out to a gross yield of about 5.6% on a $600,000 unit. An appealing rate given that most private residential landlords typically rake in yields of 2-3%.
2. Freehold 'shoebox' units in Geylang and Kallang
If you want a freehold property for less than $650,000, the answer is almost always a small unit in a boutique block in District 12 or 14. Geylang (District 14) alone accounted for 104 of the 535 resales that had prices of $800,000 or less, more than any other district.
Le Regal on Geylang Road had the cheapest of these: a 366 sq ft unit sold for $570,000 in August 2026, and another 420 sq ft unit went for $590,000 this year too. Le Regal is an 88-unit freehold development that was completed in 2015, and the project is about an 8-minute walk from Aljunied MRT.
A few doors away at Pavilion Square (345 Geylang Road), the 398 sq ft units there sold for $618,000; meanwhile, Prime Residence on Lorong 22 Geylang had a 398 sq ft unit that sold for $600,000.
Airstream, a 70-unit freehold project on St Michael's Road, recorded the sale of a 334 sq ft unit for $605,000, while Glasgow Residence, a 41-unit 999-year leasehold development off Upper Serangoon Road (about a 10-minute walk from Kovan MRT), recorded some of its resale units changing hands for $610,000 and $635,000.
These are small developments with a limited number of condo facilities, and with units that range from 334 to 420 sq ft, they are effectively studios. But they are still freehold apartments in attractive city fringe neighbourhoods, and rents here hold up: one-bedroom units in these projects typically lease for $2,600 to $2,750 a month.
3. The 1970s icon: People's Park Complex
People's Park Complex in Chinatown is the only project on this list that is right on top of an MRT station: Chinatown MRT is about a two-minute walk away.
The smallest residential units at People's Park Complex, which are only 409 sq ft, fetched $600,000 and $650,000. Meanwhile, a 463 sq ft unit transacted for $688,000.
The trade-offs are the building's age and the lease. The development was completed in 1972, on a 99-year lease that started in 1968 and has about 41 years left. It's also a mixed-use building, with the residential block sitting above a busy shopping centre, which is part of its charm and part of why it's priced this way.
(It's not to be confused with nearby People's Park Centre, which is making a third en bloc attempt.)
4. One-bedders in big suburban condos
The largest group by far is the one-bedroom units in large suburban developments built during the shoebox boom of the early 2010s. Parc Rosewood in Woodlands, The Inflora and Palm Isles in Pasir Ris, High Park Residences in Fernvale and Kingsford Waterbay in Upper Serangoon View all had units sell for $625,000 to $650,000.
The appeal here is that you get the full condo package: several hundred households that share the pools, gyms and the rest of the amenities. Parc Rosewood has 10 swimming pools. In exchange, you're further away from the city centre. Some of these condos are a long walk from the nearest station: Parc Rosewood is about 17 minutes on foot from Woodlands South MRT, while High Park Residences is about 8 minutes from Thanggam LRT.
The development with the highest resale volume is euHabitat on Jalan Eunos, with 29 resale transactions that attracted prices of $800,000 or less, with prices starting from $705,000. Its one-bedders are also among the most sizeable ones on this list, spanning 506 to 624 sq ft, and they leased for an average of $2,974 a month.
What the cheapest condos have in common
When we consider all 535 resale transactions that had prices at $800,000 or less, a clear picture emerges:
- They are small. The typical unit was 463 sq ft, less than half the 1,023 sq ft size that is typical of most resale condo units. About a third of the units on our list were 430 sq ft or smaller.
- They are almost all one-bedders. 96% were one-bedroom units.
- They are mostly from the 2010s. 86% were in condos completed between 2010 and 2019, when there was a surge in the number of so-called 'shoebox' apartment projects. URA has since tightened the rules on how many units a developer can fit on a site, which is one reason so few new projects are built like this today.
- Two-thirds are outside the city centre and fringe. Also known as the Outside Central Region (OCR).
- Cheap mostly doesn't mean a short lease. 42% were freehold units, and only about 3% had under 60 years left on their lease. In most cases, these homes are cheap because they're small, not because the lease is running out.
If you need more than one bedroom
This is where the bargain largely ends. Of the 3,825 two-bedroom condo resales over the past 12 months, only six went for $800,000 or less. The cheapest was a 452 sq ft two-bedder at Qube Suites, a 21-unit freehold development on Jalan Punai, which sold for $720,000.
Likewise, Central Imperial on Lorong 14 Geylang saw the sale of a 549 sq ft two-bedder for $765,000, and Millage on Changi Road had two-bedroom sales that ranged from $780,000 to $800,000.
Ten years ago, the affordability landscape in the private residential market was different. In the 12 months to August 2015, more than 100 two-bedders and a dozen three-bedders resold for $800,000 or less.
Three-bedders under $1 million are much rarer: just eight out of 4,501 three-bedroom resales fell in this price category. The cheapest was a 1,141 sq ft unit at Orchid Park Condominium in Yishun for $905,000, though other units of the same size there sold for about $1.16 million, so that one was well below the norm.
Others under $1 million included Floraview in Ang Mo Kio (a 753 sq ft unit that fetched $965,000), The Woodgrove in Woodlands (a 1,033 sq ft unit that fetched $968,000) and Parkview Apartments in Bukit Batok (a 1,119 sq ft unit that fetched $985,000).
If you need the space, our list of the cheapest 3-bedroom condos under $1.2 million covers the units on the market now.
The trade-off you should know before buying one
Cheap units have made smaller gains
We matched 515 of these sales to the price the seller originally paid. On average, those owners sold their units at prices that were 19% more than what they paid for them, over about nine years. Across all condo resales in the same period, the average capital gain was 46%.
But very few of these sellers lost money outright: 19 of the 515 sales, or under 4%, compared to about 5% across all resale transactions. However, nearly a quarter of these sellers made less than 10% in capital gains before factoring in costs. Once you add the buyer's stamp duty (about $12,600 on a $600,000 purchase) and agent's fees, many of those sales would have roughly broken even.
If you're buying one of these to grow your wealth, the track record so far is modest. If you're buying it to live in, that might not matter as much.
The lease affects how much CPF you can use
For the short-lease options on this list, CPF rules matter. You can use your CPF in full only if the remaining lease covers the youngest buyer to age 95. If it doesn't, the amount you can use is pro-rated, and once a property has fewer than 20 years left, you can't use CPF for it at all.
In practice, The Hillford's lease (to 2073) lets buyers aged about 49 and above use their CPF in full; younger buyers get a reduced amount. At People's Park Complex, with about 41 years left, the cut-off is about 55. Either way, plan for more cash. For older buyers, though, this cuts the other way: a shorter lease matters much less if you only need the home to last your lifetime, which is the argument we made about lease decay and older condos.
As a second property, the financial calculation changes
A $600,000 unit renting at $2,700 a month looks like a decent investment. But if it's your second home, a Singapore citizen pays 20 per cent Additional Buyer's Stamp Duty, or $120,000 on a $600,000 unit. That is almost four years of rent. Permanent Residents pay 5% on a first property, and foreigners pay 60% on any purchase.
The gross yields here (about 4.4 - 5.6%, before maintenance fees, property tax and unleased months) are decent when it comes to the private residential leasing market in Singapore. But they work best for a buyer who isn't paying ABSD.
Who will find these homes most suitable?
Singles under 35. Unmarried singles must be at least 35 to buy an HDB flat on their own. Until then, a resale condo is the main way to own a home, and these are the cheapest you can get. Stacked readers have asked us about exactly this, as in whether to buy a one-bedder at Parc Rosewood as a single.
Older buyers right-sizing. If your children have moved out and you want to unlock cash from a bigger home, a one-bedder with facilities, or a short-lease unit near the city like People's Park Complex, can make sense. The shorter lease matters far less when the home only has to last your lifetime.
First-time buyers testing private property. With no ABSD on a first home, a citizen buying at $600,000 to $700,000 pays a price close to a resale 5-room flat for a smaller unit, with private-property rules and condo facilities.
What these homes don't suit is a growing family. Two-bedders at this price have all but disappeared, and you'd likely need to sell and move again within a few years.
What this means for you
The cheapest private homes in Singapore cost about $570,000 to $650,000 today. In almost every case, you're buying a one-bedroom unit of about 400 to 500 sq ft, and it's very likely to be a 'shoe-box' unit from a development in the early 2010s.
Affordable condo units are still out there, and in some cases they cost less than a resale 5-room flat.
But they're getting rarer each year with no new units at this price point being added, and the gains so far have been modest. If you're intent on buying, go in for the right reason: a home you'll live in, or a first property that lets you own something private before HDB is an option.
Finally, check how the remaining lease affects your CPF before you commit, and if a unit is listed far below its neighbours, it would be prudent to find out why.
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