Photo: Lake Grande / Christopher Chitty
If property were like novels, then its proliferation in Singapore rivals the productions of authors like Stephen King. They pop up around the island more so than trees and though all are faced with varying degrees of success, they without a doubt, offer singles more options.
Here are just a few 1BR units that are on the lower cost spectrum:
This project is located along Sturdee Road in District 8, and about a five-minute walk to Farrer Park MRT station. For singles, a 420 sqft 1BR units transacts around $670K. That’s not bad at all for a development that is within walking distance to many amenities, including popular, Mustafa Centre. The area might be a little crowded and hard to navigate, but for singles without children to consider, it makes for a good beginning.
While Geylang is far from the minds of buyers looking for a home to suit their family (and with quantifiable reasons), for singles however, Geylang properties are a blessing. Most are freehold and since Geylang has a quota on how many more residential properties can be built there, those that are available are rare. In addition, it is a well-connected, central area with no shortage of amenities and most importantly, have some of the most affordably priced units on the island. Units at #1 Suites start at $600K with an average psf of $1,143. In comparison, a competitor of theirs, Rezi 3Two also located in Geylang has an average starting psf of $1,541, for a freehold development.
Although West Coast Vale is a developing area with an eye toward the future, Parc Riviera’s slightly out of the way location may not appeal to parents now.
A 2BR unit in Parc Riviera
For singles, however, the lower quantums of $550K on average (due to its limited one-tier pricing scheme) presents an attractive bargain.
A big scale project by a reputable developer like MCL Land in a growing area like Lakeside comes with a higher quantum expectation. However, 409 sqft 1BR units here average at about $560K which, for an area that has amenities within walking distance, including schools and two train stations a few bus-stops away, is a bargain.
1+1 living room
Add the upcoming Jurong Lakeside district development and Lake Grande is more than just a good first step for a single and first time property buyer – it is an investment for the future.
Joo Chiat properties are not expected to be within the affordable spectrum because of the location. Well connected, mature, plenty of amenities and now, the Marine Parade MRT station gives it just one more reason to be priced at a premium.
Source: Developer brochure
However, 1BR units at The Red House have been transacted at a modest $700K. At 474 sqft, it’s fine for a single. Its location is certainly more of a perk and given the new MRT station and new developments in the area, The Red House may very well appreciate a bit more in the future.
There are many more options out there for singles looking to invest or buy their first property. Typically condos and even ECs in less mature or developing areas like Sengkang, Woodlands North have more affordable options than say somewhere in Jurong Central or Marine Parade. However, location is also key when deciding on a property and sometimes, while prices may seem higher, they are justified for where the property is situated.
To read more project reviews, visit the New Launches Project Reviews page.
