We were on a mission to find affordable, centrally located new private condos in Singapore, and yes – they still exist. Check out our finds in some of Singapore’s most colourful streets around town!
We started our journey in Geylang.
Yes – this district is infamous for its red light activities, but it is also slated to become one of the more promising areas for savvy investors looking for bigger capital returns. For one, the value of properties in Geylang is sure to rise with URA’s rezoning initiatives that aim to clean out illegal and ‘shady’ activities, and introduce more legitimate commercial operations. New condominiums start at $500,000 or $1,000 psf.
Farrer Park and Balestier Road are also hot property locations which we visited, featuring more up-market but still affordable condominiums with prices ranging from $1,250 to $1,700 psf.
Interestingly, Farrer Park and Balestier Road have evolved from their red light yesteryears to now – the eccentric cultural hubs of Singapore, home to diverse food choices and hobbyist establishments. If anything, it serves as a testament to how Geylang may look in a few years’ time.
Another food for thought – the rental yields for Geylang, Farrer Park and Balestier range from 3% to 5%, making it around 1% higher than the market average!
Below is our list of hidden gems of affordable, centrally-located new condominiums in Singapore. Enjoy!
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1. Grandview Suites, Geylang
Tenure: Freehold | Starting Price: $500,000 ($1,000 psf) | TOP: 2016
Grandview Suites is located in Lorong 22 Geylang and is a boutique mixed-development with 52 residential and 8 commercial units. There is convenient access to the city, Aljuneid MRT is 400m away, and Orchard Road and Shenton Way are a 10-minutes drive away each.
Amenities are located on the 2nd floor of the development, Grandview Suites’ recreation area includes a sky pool, changing rooms, pool deck and an indoor gym. The development also features 63 mechanised parking lots.
2. Sims Edge, Geylang
Tenure: Freehold | Starting Price: $530,000 ($1,100 psf) | TOP: 2014
Located in 1 Geylang East Avenue, Sims Edge is a private development a mere 2-3 minutes walk away from Aljunied MRT. It scales 15 storeys high and houses 78 residential units. Residents can enjoy its wide-ranging amenities, which include a swimming pool, Jacuzzi, wet deck, landscape and garden area, yoga area, indoor gym, and a BBQ area.
3. #1 Suites, Geylang
Tenure: Freehold | Starting Price: $690,000 ($1,200 psf) | TOP: 2015
#1 Suites in Lorong 20 Geylang stands out in the crowd of new developments in the area because of its vibrant visage. Nestled in the heart of Singapore’s food district, the boutique development comprises of 8 storeys and 112 units of apartments.
Facilities include a Pool Deck, Swimming Pool, Outdoor Exercise Station, Communal Planters and a Barbecue Area. #1 Suites is available at resale value.
4. Le Somme, Farrer Park
Tenure: Freehold | Starting Price: $700,000 ($1,250 psf) | TOP: 201
Designed for functionality, Le Somme comprises of 6 floors of 25 private one-bedroom apartments and penthouses. There are also 3 shop units on the 1st floor, and a mechanical carpark with 26 lots. Facilities include a Jacuzzi, rooftop pool garden and a wading pool.
Le Somme is conveniently close to Farrer Part MRT and a short walk away from Connexion shopping mall. Also surrounding Le Somme are popular artisanal coffee houses and famous local food establishments.
5. Forte Suites, Mergui Road
Tenure: Freehold | Starting Price: $700,000 ($1,5o0 psf) | TOP: 2018
Located in Mergui Road, in between Balestier Road and Rangoon Road, Forte Suites is a 25 storeys development with 106 units which include a mix of 1 to 3-bedroom penthouses. Unique to this development is its units’ high ceilings (at least 3.2m high).
Forte Suites also offers a full suite of facilities including a clubhouse, function room, indoor gym, indoor tennis court, 50m Freeform pool, family & splash pool, Jacuzzi & Hydro Spa, BBQ area, Fitness Alcove and a children’s playground.
6. Neem Tree, Jalan Kemaman (Balestier)
Tenure: Freehold | Starting Price: $720,000 ($1,7o0 psf) | TOP: 2020
Located at the heart of Balestier, Neem Tree is situated in a prime location, just minutes walk away from Novena MRT, Wampoa Drive, Curtin University and Shaw Plaza. The development is 17 storeys-high and houses 84 residential units including 1-3 bedroom units and 2-3 bedroom penthouses.
Amenities at Neem Tree have been built to fulfill the necessities of a comfortable lifestyle – including a swimming pool, BBQ and outdoor dining area, and an outdoor gym.
7. VA Residences, Boon Teck Road (Balestier)
Tenure: Freehold | Starting Price: $720,000 ($1,700 psf) | TOP: 2020
VA Residences is a boutique condomium with 52 residential units. It offers more spacious 1 and 2-bedroom choices than the other properties we’ve featured, with the units being at least 500sqft in size.
Built to cater to the luxury market, VA Residences offers personalised concierge services to residences, as well as a full suite of amenities including a Gymnasium, Swimming Pool, Pool Deck, BBQ Area, and a Jacuzzi.
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