In the current economic backdrop, all investments feel like a risk.
Property in Singapore, on the other hand, always seems to weather market turbulence well.
So instead of allocating a large sum into bonds or other safe haven assets, you might wonder, “what’s the cheapest freehold condo I can buy?”
At the very least, it’s a way to protect your initial capital: there’s no risk of expiring leases, although you’ll have maintenance costs along the way. Ideally, it would provide you with rental income as a safety net during these uncertain times.
We’ll highlight 11 freehold condos under the $800k price range, along with:
For our 11 picks, we used ongoing tenancy listings of similar-sized units within the same development for the rental yield estimates.
While we saw price jumps just before the 2018 property measures kicked in, prices for these developments have largely been stable – that is to say, they’re best positioned as rentals or for your own stay rather than for capital appreciation.
25 Lorong 25 Geylang 388302 Eunos / Geylang / Paya Lebar (D14)
Centra Studios consists solely of 1-bedroom units of varying sizes. Studio layouts are rectangular with minimal wasted space, fitting a Queen bed, kitchenette, and living area with ease.
Larger studios within the same property are being listed for S$760,000 (S$1,442 psf) with a maintenance fee of S$190/month – an even more attractive investment if within your budget. The development is just a short walk to Aljunied MRT, which makes it ideal for working professionals or young couples who don’t own a car.
3 Petain Road 208108 Farrer Park / Serangoon Rd (D08)
Residences @ Somme has studio, 1-bedroom, and 2-bedroom units, though they’re on the small end (the 2-bedroom units top out at 678 sqft). As it’s a smaller development, there are fewer transactions on record – the most recent sale was a 1-bedroom in November 2021.
The development sits conveniently in between Farrer Park and Bendemeer MRT, giving users easy access to public transport across Singapore. Food options and boutique cafes are plentiful in the area.
11 Cavan Road 209848 Farrer Park / Serangoon Rd (D08)
Not far from Residences @ Somme is Cavan Suites, another development comprising solely 1-bedroom units. Layouts include a household shelter and kitchenette that’s partially separated from the bedroom/living area.
Bendemeer is the closest MRT at a 5-min walk (450m), but residents also have access to the East-West and North-East lines through Lavender and Farrer Park MRT.
There’s no lack of food options here, with famed local names like Chye Seng Huat and Beach Road Scissor-Cut Curry Rice nearby.
348 Balestier Road 329778 Balestier / Toa Payoh (D12)
This area is known for its food, which will be the main draw for those who choose to stay at Prestige Heights. A stroll along Balestier Road will take you past places like Founder Bak Kut Teh, Boon Tong Kee, and Loy Kee Chicken Rice.
That said, it’s also accessible by bus to almost every part of Singapore. The routes run to every major district, and the apartment’s central location means it won’t take too long to get where you need to go.
Prestige Heights is tucked in the corner of a side street along Balestier Road, so residents get the convenience of nearby amenities while staying a good distance from the hustle and bustle of the main street.
226 Changi Road 419740 Eunos / Geylang / Paya Lebar (D14)
Walking distance from Eunos MRT is Suites @ Changi, a boutique development with studio, 1-bedroom, and 2-bedroom units. Studio layouts come with a balcony as well as a household shelter while still fitting a good-sized kitchenette.
This location blends convenience with the East’s foodie culture, as it’s close to the ECP and Eunos Market. With Paya Lebar also one MRT station away, this development is well suited to those working in the major offices there.
171 Telok Kurau Road 423824 East Coast / Marine Parade (D15)
Situated between both Kembangan MRT (EW6) and Marine Terrace MRT (TE27), The Cotz is a 10 year-old development with simple but modern amenities. Walking distance from Joo Chiat Avenue, the nearby amenities include popular eateries, pubs, cafes, and other boutique F&B outlets.
The area does not have many tall buildings, so bear in mind when selecting your unit that higher floors may demand a premium for unblocked views. At the time of writing, there were more than 5 units listed, including a 1,195 sqft penthouse at only S$1,163 psf.
451 East Coast Road 429024 East Coast / Marine Parade (D15)
One of our personal favourites, Heritage East’s studio layout has an especially high ceiling with a loft for the bedroom area. As one of the few walk-up apartments left in Singapore, this development is unique and will definitely be top-of-mind for young professionals who want a stylish and unique space.
This East Coast Road development boasts a rooftop pool and BBQ area: great for those who like to entertain guests with a poolside gathering. It’s also walking distance from the Joo Chiat Road food haven for those looking for local treats.
420 Upper Paya Lebar Road 534049 Hougang / Punggol / Sengkang (D19)
Suites @ Paya Lebar has a great layout for those who prefer a larger washroom for their studio. There are plenty of amenities in the neighbourhood, from eateries to supermarkets.
Quiet, clean, and well-maintained, the development’s location seems most popular with executives working between Serangoon and City Hall. With the condo being only 8 years old, the almost new facilities include a modern pool and covered car park.
253 Pasir Panjang Road 118618 Buona Vista / West Coast / Clementi New Town (D05)
The Pasir Panjang / Haw Par Villa area is quite popular, so do take note that the current rental listing is quite an optimistic 18% jump from the last transaction in May earlier this year. If you’ve read our piece on property market trends in the second half of 2022, you’ll know that we expect rental prices to remain high but also pare down a bit as the borders open up. S$3,000 might be a more likely rental amount when this listing closes.
The Parc Imperial studio comes with a generous balcony, big enough to accommodate a small seating area with a table and a few chairs. The development is only a 3-min walk (280m) from Haw Par Villa MRT (CC25).
175 Upper East Coast Road 455277 East Coast / Marine Parade (D15)
At the time of writing there were 13 units listed in this popular development. Just 380m away from the upcoming Siglap MRT (TE28), the layouts make the units feel more like 1-bedroom apartments than studios. A well-placed pocket door separates the sleeping area from the rest of the unit.
Facilities include a gym, pool, jacuzzi, and BBQ area.
831 Upper Serangoon Road 534679 Hougang / Punggol / Sengkang (D19)
One of the more affordable units on our list, this Kovan Central development has a nice layout that separates the bedroom from the rest of the unit. The water closet and shower are situated opposite one another, while the living area and kitchenette come with a balcony.
A key selling point for this development is its proximity to Kovan MRT (NE13), just 380m down the road.