Top 10 Cheapest Condo Projects in Singapore for Sale 2019

The lowest priced condo unit starts from only $588,000!

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With more than 60 new condo launches expected to be released for sale in 2019, property buyers will likely be overwhelmed by the number of new homes flooding the market.

Buying a property has always been about location, location, and location. More often or not, it will be the determining factor for its selling price.

However, there will always be a group of buyers who are out there looking for the best deals or the cheapest condo in Singapore.

Price has always been the number one concern for this group of buyers and they usually want that private residential lifestyle yet not wanting to overstretch their budget.

In this article, we will cover only new launch projects and based their average psf price for the last 6 months, here are the top 10 cheapest condos in Singapore which were launched in 2018 (to date).


1. The Jovell

Launched back in September 2018, The Jovell condo by Hong Leong Holdings has proven to be one of the most popular condominium projects in Singapore due to its extremely low quantum and psf price.

Cheapest condo in Singapore The Jovell

Moving into 2019, it’s almost certain that no other new launch condos released this year are able to match its price.

This 428-unit condo at Flora Drive is one of the most conventional, comprehensive and typical private residential developments which you can find in Singapore these days. If the condo lifestyle is all you want, The Jovell certainly ticks that box.

Looking at the map, The Jovell is located at the extreme end of the Eastern region and may seem a little remote to most buyers. But for frequent travelers/flyers, its close proximity to Changi Airport would be a major plus point.

Just judging from the price alone, The Jovell has to be ranked number 1 on our list.

Condo name The Jovell
Developer Tripartite Developers Pte Ltd (Hong Leong Holdings)
Tenure 99-Year Leasehold, from 08 March 2018
Planning area Pasir Ris
Land size 330,226 sqft
Estimated TOP August 2023
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
2-Bedroom + Study
3-Bedroom
3-Bedroom + Yard
4-Bedroom
Price Guide 1-Bedroom from $588,000
2-Bedroom from $785,000
3-Bedroom from $1.018 mil
4-Bedroom from $1.524 mil
Average PSF (last 6 months) $1,290
No of units sold (as of 31 Jan 2019) 58/428

2. Riverfront Residences

Being located within Hougang, a well-established and mature housing estate in Singapore, Riverfront Residences by Oxley Holdings has certainly drawn plenty of attention since it was first launched back in early July 2018.

Riverfront Residences Hougang Cheapest Condo Singapore

This was one of the few new condo projects to be launched just one day before the latest property cooling measures took effect on 06 July 2018.

Panicky buyers were queuing at the Riverfront Residences showflat on the night before to secure a unit, so that that they will avoid paying more stamp duty under the new set of measures.

Judging from the psf price, Riverfront Residences does look like an ‘absolute steal’ as compared to The Jovell – mainly due to its location within a matured estate where you will find a wide range of amenities and the fact that it’s much closer to an MRT station.

The only downside we can think is the number of residential units within Riverfront Residences – almost 3.5 times more than the total number of The Jovell condo.

The environment and lifestyle within this new Hougang condo may be a little too rowdy and crowded for those who are seeking more privacy and exclusivity. So much for living in a ‘private’ condominium, sigh.

However, just looking at the price alone, it’s seriously attractive in relation to the condo’s location. From the number of transactions concluded to-date, you can see why.

Condo name Riverfront Residences
Developer A joint venture between Oxley Holdings, KSH Holdings, SLB Development Ltd and Apricot Capital
Tenure 99-Year Leasehold, from 31 May 2018
Planning area Hougang
Land size 396,235 sqft
Estimated TOP December 2024
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
3-Bedroom
4-Bedroom
5-Bedroom
4-Bedroom Strata House
Price Guide 1-Bedroom from $598,000
1-Bedroom + Study from $668,000
2-Bedroom from $823,000
3-Bedroom from $1.092 mil
4-Bedroom from 1.715 mil
5-Bedroom from $2.023 mil
4-Bedroom Strata House from $2.396 mil
Average PSF (last 6 months) $1,319
No of units sold (as of 31 Jan 2019) 839/1472

3. Whistler Grand

In January 2018, City Developments Ltd (or CDL) acquired the Whistler Grand’s site for a whopping $472.4 million ($800 psf ppr) via the government land sales tender.

During then, market watchers were doubting the bullish bid placed by CDL and foresee that it will a challenge for the developer to sell off all units within a 5-year timeframe.

Whistler Grand Condo West Coast Vale

As a matter of fact, CDL is no stranger to this precinct of Singapore – having already built other condos in West Coast, such as Hundred Trees and Monterey Park condo.

By seeing how well-received Parc Riviera and Twin Vew (both condos were launched back in 2016 and 2018 respectively), CDL somehow believed that Whistler Grand will do equally well.

On the first day of launch, Whistler Grand got off to a flying start by selling around 150 units in a single day and as of end January 2019, they have sold an estimate of 223 units in total.

To-date, there isn’t much supply of new homes being sold in the area as Parc Riviera has already been fully sold and only slightly more than 60 units left at Twin Vew condo.

As you can see, the demand for new private homes is still relatively strong in the West Coast are. Thus, despite being ranked third in terms of price point, we believe it’s just a matter of time before sales pick up rapidly at Whistler Grand as move into the next 9 to 10 months of 2019 – when other new launch projects in suburbs look relatively more pricey.

Condo name Whistler Grand
Developer City Developments Ltd
Tenure 99-Year Leasehold, from 07 May 2018
Planning area Clementi
Land size 210,883 sqft
Estimated TOP October 2022
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
2 + Bedroom + Study
3-Bedroom
3-Bedroom Dual-Key
4-Bedroom
4-Bedroom Dual-Key
5-Bedroom
Price Guide 1-Bedroom from $635,000
2-Bedroom from $795,200
3-Bedroom from $1.233 mil
3-Bedroom Dual-Key from $1.405 mil
4-Bedroom from $1.568 mil
4-Bedroom Dual-Key from $1.564 mil
5-Bedroom $1.788 mil
Average PSF (last 6 months) $1,359
No of units sold (as of 31 Jan 2019) 223/716

4. The Tapestry

Possibly the last condo launch along Tampines Avenue 10, The Tapestry condo by CDL has set up itself as being the highest priced project in the area.

The Tapestry Condo at Tampines

But if you were comparing it with the rest of the new launch condo projects on this list, it is still the 4th cheapest condo project in Singapore at this point of time.

With that fact in mind, it is no surprise to see 569 out of 861 units (accounting for 66% of the entire development) already being snapped up at The Tapestry condo since March 2018.

Like Riverfront Residences, it does seem like projects located within a matured estate are proven to be more popular among property buyers.

Condo name The Tapestry
Developer City Developments Ltd
Tenure 99-Year Leasehold
Planning area Tampines
Land size 233,769 sqft
Estimated TOP October 2021
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
2 + Bedroom + Study
3-Bedroom
4-Bedroom
5-Bedroom
Price Guide 1-Bedroom from $618,000
1-Bedroom + Study from $722,100
2-Bedroom from $798.660
2 + Bedroom + Study from $995,480
3-Bedroom from $1.149 mil
4-Bedroom from $1.726 mil
5-Bedroom $2.152 mil
Average PSF (last 6 months) $1,371
No of units sold (as of 31 Jan 2019) 569/861

5. Twin Vew

You may find this to be a surprise, seeing Twin Vew coming behind Whistler Grand as the 5th cheapest condo launch in Singapore for 2018 – despite being the earlier one that was released for sale.

Twin Vew Condo at West Coast Vale

However, do remember that we are using data from the last 6 months. Hence, it is likely that the remaining units at Twin Vew are selling at a higher price point as compared to most units at Whistler Grand.

With only 520 units up for grabs, Twin Vew is only left with slightly more than 10 percent of the total number of units left for sale since May 2018.

Based on all 454 transactions recorded at Twin Vew so far, the average psf works out to be $1,400. It is a clear indication of how strong the demand is for private homes in the West Coast area despite the relatively higher price point as compared to Whistler Grand (253 units sold at an average of $1,359 psf).

Condo name Twin Vew
Developer China Construction Developments
Tenure 99-Year Leasehold from 15 May 2017
Planning area Clementi
Land size 176,293 sqft
Estimated TOP June 2022
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
3-Bedroom
3-Bedroom + Study
4-Bedroom
Price Guide 1-Bedroom (Fully Sold)
1-Bedroom + Study (Fully Sold)
2-Bedroom from $1.08 mil
3-Bedroom from $1.4 mil
3-Bedroom + Study from $1.626 mil
4-Bedroom from $1.85 mil
Average PSF (last 6 months) $1,456
No of units sold (as of 31 Jan 2019) 454/520

6. Affinity at Serangoon

The 1,012-unit Affinity at Serangoon condo has been under the radar for the longest time, since it was launched back in June 2018. The main reason was because of the price, which is unjustifiable in many aspects.

Affinity at Serangoon Condo Cross Island Line

Despite located in a relatively well-known housing estate in Singapore, buyers just couldn’t accept the price point as there are much better options out there.

But ever since plans for the Cross Island MRT line was announced back in January 2019, almost 90 over units has been sold within weeks  – accounting for almost a quarter of the total sales recorded from June 2018 onwards.

Being the 6th cheapest condo project, Affinity at Serangoon has already crossed an average psf price point of $1,500 psf. However, its already looking like a value buy with the prospect of having an MRT station nearby (which is likely to bring up property prices in future).

Condo name Affinity at Serangoon
Developer Oxley Holdings
Tenure 99-Year Leasehold
Planning area Serangoon
Land size 296,913 sqft
Estimated TOP December 2024
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
2-Bedroom + Study
3-Bedroom
4-Bedroom + Study
4-Bedroom Strata House
5-Bedroom Strata House
Price Guide 1-Bedroom from $704,000
1-Bedroom + Study from $776,000
2-Bedroom from $991,000
2-Bedroom + Study from $981,000
3-Bedroom from $1.228 mil
4-Bedroom + Study from $2.081 mil
4-Bedroom Strata House from $2.318 mil
5-Bedroom Strata House from $2.447 mil
Average PSF (last 6 months) $1,502
No of units sold (as of 31 Jan 2019) 341/1012

7. The Garden Residences

Co-developed by Keppel Land and Wing Tai, the Garden Residences condo is direct ‘competitor’ to Affinity at Serangoon by Oxley Holdings as they are both situated just a few hundred meters apart.

In terms of physical aspects, there isn’t really much to compare significantly between these 2 condos at Serangoon North except for the price.

The Garden Residences Condo at Serangoon North

The reason why Affinity at Serangoon has a slight price advantage over the 613-unit The Garden Residences is due to the land cost which the developers paid. Back in July 2018, KepLand and Wing Tai paid $964.80 psf ppr for the Garden Residences plot while Oxley Holdings paid only $835 psf ppr for theirs.

To maintain competitiveness, it’s likely that The Garden Residences has been priced at a lower profit margin by the developer.

Based on transactions record during the last 6 months, the psf difference between both projects is just a mere 1%. But if you were to compare the unit types at The Garden Residences straight up against Affinity at Serangoon, you will see that the overall price difference for each unit type can easily be at least $100,000.

Still, The Garden Residences condo comes in at being the 7th cheapest condo project in Singapore for 2018 – just behind Affinity at Serangoon.

Condo name The Garden Residences
Developer A joint venture between Keppel Land and Wing Tai Asia
Tenure 99-Year Leasehold
Planning area Serangoon
Land size 185,023 sqft
Estimated TOP August 2021
Unit Types available 1-Bedroom
1-Bedroom + Study
2-Bedroom
2-Bedroom + Study
3-Bedroom
3-Bedroom + Study
4-Bedroom + Study
Premium 4-Bedroom
Premium 5-Bedroom
Price Guide 1-Bedroom from $788,000
1-Bedroom + Study from $898,000
2-Bedroom from $1.08 mil
2-Bedroom + Study from $1.18 mil
3-Bedroom from $1.38 mil
3-Bedroom + Study from $1.58 mil
4-Bedroom + Study from $1.928 mil
Premium 4-Bedroom from $2.18 mil
Premium 5-Bedroom from $2.58 mil
Average PSF (last 6 months) $1,528
No of units sold (as of 31 Jan 2019) 76/613

 

8. The Tre Ver

Moving on to the 8th cheapest condo project, we have The Tre Ver (the former HUDC, Raintree Gardens) – a 729-unit condo at Potong Pasir by UOL Group & United Industrial Corporation (UIC).

The Tre Ver Condo at Potong Pasir

Despite being in 8th place, The Tre Ver is, in fact, the cheapest condo project in the city fringe, unlike some of the earlier ones which are located in the suburbs or mass market regions.

The Tre Ver has often been compared with the other nearby new launch condos at Potong Pasir which literally next to Woodleigh MRT station, such as Park Colonial and The Woodleigh Residences.

In terms of price, The Tre Ver is around $150 to $200 psf cheaper on average. For this reason, some buyers would probably feel that The Tre Ver is a much better deal, resulting in more than 35% of the development being sold.

Condo name The Tre Ver
Developer A joint venture between UOL Group and United Industrial Corporation (UIC)
Tenure 99-Year Leasehold
Planning area Toa Payoh
Land size 185,023 sqft
Estimated TOP February 2021
Unit Types available 1-Bedroom
2-Bedroom
3-Bedroom
4-Bedroom
Price Guide 1-Bedroom from $738,000
2-Bedroom from $941,000
3-Bedroom from $1.546 mil
4-Bedroom from $2.08 mil
Average PSF (last 6 months) $1,572
No of units sold (as of 31 Jan 2019) 261/729

9. JadeScape

It’s been a while since there was a new launch in the Marymount/Thomson/Bishan and property developer Qingjian Realty has been sparking some joy for homebuyers in the area with the introduction of JadeScape.

Qingjian Realty unveils JadeScape Condo

As a matter of fact, this is Qingjian Realty’s first private residential project in Singapore – after years of developing executive condominiums (ECs).

So far, a total of 368 units has been sold at JadeScape, which makes up about 30.5% of the total number of units in the condominium which is located near Marymount MRT station.

One of the key features of this condo is that it will be integrated with smart home and high-tech security capabilities. Facial recognition systems will also be built at the lift lobby area.

Condo name JadeScape
Developer Qingjian Realty
Tenure 99-Year Leasehold from 19 June 2018
Planning area Bishan
Land size 398,114 sqft
Estimated TOP January 2023
Unit Types available 1-Bedroom
2-Bedroom
3-Bedroom
4-Bedroom
5-Bedroom
Price Guide 1-Bedroom from $867,000
2-Bedroom from $1.149 mil
3-Bedroom from $1.585 mil
4-Bedroom from $2.034 mil
5-Bedroom from $3.157 mil
Average PSF (last 6 months) $1,670
No of units sold (as of 31 Jan 2019) 368/1206

10. Daintree Residence

Completing the list would be Daintree Residence at Toh Tuck Road. It is a 327-unit condominium near Beauty World MRT station, by SP Setia.

Daintree Residence Condo at Toh Tuck Road

The site was acquired via the government land sales programme and it was so popular back in April 2017 that it drew a total of 24 bids from different property developers.

According to the most recent transaction data, only 46 units have been sold at Daintree Residence; making up only a mere 14% of the entire project. Apparently, it’s not so popular among property seekers.

Despite the low take-up rate, this Toh Tuck Road condo still made it into our top 10 list as being one of the cheapest condo projects in 2018.

Condo name Daintree Residence
Developer Setia
Tenure 99-Year Leasehold from 17 July 2017
Planning area Bukit Timah
Land size 201,517 sqft
Estimated TOP June 2022
Unit Types available 1-Bedroom
2-Bedroom
3-Bedroom
4-Bedroom
Price Guide 1-Bedroom from $929,100
2-Bedroom from $1.082 mil
3-Bedroom from $1.638 mil
4-Bedroom from $2.549 mil
Average PSF (last 6 months) $1,681
No of units sold (as of 31 Jan 2019) 46/327

As you can see, the selling price of the condos is usually determined by its location and accessibility. It’s without a question that homebuyers are generally less driven by price as compared to value.

Hence in general, the more ‘remote’ the condominium is, the ‘cheaper’ it is going to be – but that doesn’t mean that it’s a good product overall. You can check out the list of unsold condo units in Singapore which we’ve prepared.

Hope you’ve found some value in this article and please do not hesitate to contact us using the form below or give us a call at (+65) 6631-8384 if you require more information for the above projects – or any others you have in mind.

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