Where to find the cheapest new condo launches in 2023
PHOTO: Stackedhomes
PUBLISHED ONJanuary 24, 2023 3:00 AMByRyan J
We’ll start off with a warning: As of January 2023, prices are at an all-time high. We’d hesitate to call any new launch condo “cheap” at the moment; so what we’ve detailed below are not so much bargains, just the cheapest new launches we could find right now (you could always just use our new launch portal too).
Some of these may still be within the reach of upgraders, but first-time home buyers may have to settle for one or two bedders wherever they look (prices and availability accurate as of Jan 11, 2023):
Most affordable one-bedder units
Core Central Region
Rest of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Mori | $1,310,000 | $1,310,000 | $1,310,000 | 6 |
| The Landmark | $1,325,760 | $1,389,484 | $1,441,920 | 1 |
| Canninghill Piers | $1,712,000 | $1,724,000 | $1,808,000 | 6 |
| Riviere | $1,758,000 | $1,788,000 | $1,855,000 | 20 |
Outside of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Lentor Modern | $1,344,000 | $1,344,000 | $1,344,000 | 1 |
Note: the above reflects on units for which pricing is available; there may be the odd unit or two where prices are unknown, but these are unlikely to be enough to skew results by a significant margin.
We have included some new launch condos that have received their TOP, as they are still new and purchases are from the developer.
Notable project details:
1. Prices at 10 Evelyn can be a little misleading.
This boutique project (56 units) has only one and two-bedders, and penthouse units.
However, the one-bedders vary significantly in size, from 495 sq. ft. all the way up to 785 sq. ft. The largest one-bedders may thus have a price that is much higher than the median.
In addition, the 785 sq. ft. units are still categorised as one-bedders, even though they are larger than some of the project’s smallest two-bedders, which start from 732 sq. ft.
This project has obtained TOP, so you are able to move in almost immediately!
2. Ikigai is a very small project, but with generously sized one-bedders for the price
Ikigai is one of the smallest launches we’ve seen to date – there are only 16 units in this whole project. However, the median price of $1.4 million is competitive given the generously sized units. The “one bedders” at Ikigai are actually 1+1 units, which range between 589 to 646 sq. ft.
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If you want a one-bedder for own-stay purposes, this could give you a bit more room for your budget.
While small boutique condos aren’t for everyone (unless you are a stickler for privacy), for 16 units the facilities on offer are actually not bad at all. There’s a decent-sized pool, and a gym – you’d hardly even see anyone else anyway.
3. Lentor Modern is the star of this list, despite its OCR location
Don’t be fooled by Lentor Modern’s non-central location. It’s true that Lentor Modern is in the OCR – but Lentor Modern is an integrated development, and it’s connected to Lentor MRT (Thomson-East Coast Line).
Granted, the trip from Lentor to Orchard is a bit long (eight stops), but it’s still a direct train ride to Singapore’s main shopping belt.
Being an integrated development, there are also shops, eateries, and other commercial spaces located within the project. All of this at a median price of $1.34 million, which may be one of the lowest-priced new launch units as of January 2023.
We suggest viewing this project at least once for consideration, even if you’re not usually a fan of OCR condos.
Most affordable two-bedder units
Core Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Hyll On Holland | $1,716,700 | $2,001,100 | $2,101,500 | 6 |
| Haus On Handy | $1,762,000 | $1,985,500 | $2,415,000 | 5 |
| Kopar At Newton | $1,773,000 | $1,792,000 | $1,811,000 | 1 |
| Irwell Hill Residences | $1,806,000 | $1,991,000 | $2,040,000 | 20 |
| Juniper Hill | $1,814,850 | $1,985,850 | $2,176,800 | 9 |
| Neu At Novena | $1,822,000 | $1,906,000 | $1,990,000 | 8 |
| Royalgreen | $1,827,800 | $2,022,075 | $2,419,650 | 36 |
| Leedon Green | $1,837,000 | $2,088,500 | $2,703,000 | 18 |
| 35 Gilstead | $1,838,000 | $1,838,000 | $1,838,000 | 50 |
| One Bernam | $1,851,000 | $2,171,500 | $2,715,000 | 5 |
| Peak Residence | $1,854,700 | $1,972,800 | $2,173,600 | 22 |
| The M | $1,882,000 | $2,022,000 | $2,664,000 | 14 |
| Van Holland | $1,942,580 | $2,376,210 | $2,963,310 | 4 |
| Wilshire Residences | $1,955,000 | $2,081,000 | $2,203,000 | 4 |
| 10 Evelyn | $1,965,000 | $2,020,000 | $2,052,000 | 72 |
| Cairnhill 16 | $1,999,500 | $2,237,600 | $2,285,300 | 61 |
| Grange 1866 | $2,051,000 | $2,519,500 | $3,407,000 | 2 |
| Pullman Residences Newton | $2,059,000 | $2,098,000 | $2,140,000 | 156 |
| Ikigai | $2,196,780 | $2,200,000 | $2,438,800 | 8 |
| Midtown Bay | $2,219,360 | $2,708,320 | $4,006,960 | 18 |
| The Atelier | $2,324,000 | $2,544,000 | $2,704,000 | 13 |
| Perfect Ten | $2,425,500 | $2,562,300 | $2,612,700 | 13 |
| Klimt Cairnhill | $2,650,000 | $2,830,000 | $3,050,000 | 30 |
| Cuscaden Reserve | $2,762,000 | $2,845,000 | $3,402,000 | 37 |
| Wallich Residence | $3,758,000 | $3,758,000 | $3,758,000 | 23 |
| 15 Holland Hill | $3,919,770 | $3,958,570 | $4,039,080 | 19 |
| Boulevard 88 | $4,785,000 | $5,111,250 | $5,411,400 | 1 |
| Park Nova | $5,868,000 | $6,115,500 | $6,646,000 | 11 |
Rest of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Forett At Bukit Timah | $1,707,000 | $1,736,000 | $1,808,000 | 1 |
| Mori | $1,719,000 | $1,726,000 | $1,733,000 | 4 |
| The Landmark | $1,770,240 | $1,940,160 | $1,993,920 | 1 |
| LIV @ MB | $1,816,000 | $1,928,500 | $2,041,000 | 5 |
| One Pearl Bank | $2,048,000 | $2,084,000 | $2,369,000 | 2 |
| Meyer Mansion | $2,144,600 | $2,144,600 | $2,144,600 | 1 |
| 1953 | $2,251,000 | $2,251,000 | $2,251,000 | 2 |
| The Reef At King’s Dock | $2,297,000 | $2,331,500 | $2,366,000 | 19 |
| Canninghill Piers | $2,488,000 | $2,488,000 | $2,488,000 | 1 |
| Atlassia | $2,585,427 | $2,596,886 | $2,608,345 | 35 |
| Riviere | $2,678,000 | $2,678,000 | $2,678,000 | 2 |
Outside of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Pasir Ris 8 | $1,474,000 | $1,504,000 | $1,505,000 | 3 |
| The Gazania | $1,492,000 | $1,549,000 | $1,637,000 | 22 |
| The Lilium | $1,564,300 | $1,674,800 | $1,694,800 | 7 |
Notable project details:
1. Kopar at Newton may be underrated due to its leasehold status
As you can see, Kopar at Newton is one of the lowest-priced projects for two-bedders at the moment; and we’d have to say $1.79 million is rather attractive right now, in light of its high rentability (it’s only a four-minute walk from Newton MRT station).
We have a detailed review here, but in summary, we’d attribute the pricing to its leasehold status. This stands out a little more than usual, as many of Kopar’s neighbours are freehold condos. But for those willing to look past this drawback, Kopar could still be an attractive proposition for landlords.
2. For all the outrage and panic, Pasir Ris 8 ended up being quite cheap
Pasir Ris 8 had a brief bout of notoriety, when its two-bedders underwent multiple rounds of upward price revisions; all in a matter of hours. In spite of this, we can see that Pasir Ris 8 has the cheapest two-bedders on the list; even compared to its OCR counterparts.
If anyone is kicking themselves right now, it’s probably the developers for pricing it so low initially; and the first batch of buyers have had a real windfall.
You can see our full review of Pasir Ris 8 here. While we do think this condo may have some noise issues, the trade-off will be immediate access to Pasir Ris MRT station, and a sizeable commercial component.
3. Many current RCR new launches are pricey, and on par with CCR counterparts
The RCR condos on the list tend to feature a lot of luxury projects, such as LIV@MB and Meyer Mansion. In terms of quantum, there isn’t actually much difference between the CCR and RCR projects.
However, many of the luxury district 15 projects, such as Meyer Mansion, are more of an indulgence for homeowners than investments as they tend to feature things like private elevators and concierge services (read: unhealthy for maintenance fees).
Those who want rental yields may be better off looking at CCR projects like Irwell Hill Residences or One Bernam, where prices are comparable or in some cases lower than RCR counterparts.
Most affordable three-bedder units
Core Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Peak Residence | $2,547,800 | $2,855,500 | $2,912,600 | 2 |
| Haus On Handy | $2,607,000 | $2,688,000 | $3,077,000 | 15 |
| Enchante | $2,695,000 | $3,008,950 | $3,195,900 | 2 |
| Hyll On Holland | $2,696,100 | $2,914,900 | $3,259,900 | 16 |
| The Atelier | $2,724,000 | $3,487,000 | $3,711,000 | 8 |
| Midtown Modern | $2,739,000 | $2,892,000 | $3,012,000 | 13 |
| Cairnhill 16 | $2,781,600 | $3,203,000 | $3,796,300 | 3 |
| Ikigai | $3,147,040 | $3,301,900 | $3,932,400 | 3 |
| Pullman Residences Newton | $3,258,000 | $3,564,000 | $4,067,000 | 1 |
| Van Holland | $3,269,220 | $3,391,275 | $3,513,330 | 6 |
| 10 Evelyn | $3,276,000 | $3,318,000 | $3,360,000 | 5 |
| One Bernam | $3,347,000 | $3,731,000 | $7,318,000 | 29 |
| Perfect Ten | $3,609,760 | $3,886,960 | $4,100,800 | 13 |
| Kopar At Newton | $3,918,000 | $3,918,000 | $3,918,000 | 9 |
| Cuscaden Reserve | $4,255,000 | $4,307,500 | $4,360,000 | 20 |
| Midtown Bay | $4,437,200 | $4,841,600 | $5,318,640 | 27 |
| Klimt Cairnhill | $4,850,000 | $5,080,000 | $5,250,000 | 2 |
| Wallich Residence | $5,198,000 | $5,348,000 | $5,668,000 | 6 |
Rest of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Zyanya | $1,728,900 | $1,875,900 | $2,039,700 | 2 |
| Royal Hallmark | $1,740,000 | $1,975,000 | $1,999,000 | 23 |
| Bartley Vue | $1,887,000 | $1,994,000 | $2,067,000 | 38 |
| Mori | $2,073,000 | $2,122,000 | $2,238,000 | 1 |
| Atlassia | $2,257,955 | $2,319,414 | $2,380,873 | 5 |
| Piccadilly Grand | $2,524,000 | $2,524,000 | $2,524,000 | 1 |
| The Landmark | $2,615,888 | $2,868,480 | $3,087,360 | 7 |
| The Reef At King’s Dock | $2,717,620 | $3,014,000 | $3,657,000 | 41 |
| LIV @ MB | $2,863,000 | $3,216,500 | $3,408,000 | 1 |
| One Pearl Bank | $2,988,000 | $3,203,000 | $3,434,000 | 22 |
| Meyer Mansion | $3,205,400 | $4,078,300 | $4,174,400 | 10 |
| Riviere | $3,238,000 | $3,816,500 | $5,060,000 | 23 |
| Mayfair Gardens | $3,261,000 | $3,261,000 | $3,261,000 | 29 |
| Meyerhouse | $5,869,000 | $5,869,000 | $5,869,000 | 8 |
Outside of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| North Gaia | $1,140,000 | $1,252,000 | $1,501,000 | 6 |
| Pasir Ris 8 | $1,934,000 | $2,302,000 | $2,353,000 | 21 |
| Baywind Residences | $2,016,000 | $2,042,000 | $2,226,000 | 59 |
| Ki Residences At Brookvale | $2,081,000 | $2,428,000 | $2,821,000 | 354 |
| Lentor Modern | $2,130,100 | $2,313,800 | $2,647,600 | 15 |
| Sky Eden@Bedok | $2,199,000 | $2,277,000 | $2,512,000 | 24 |
| The Lilium | $2,528,800 | $2,550,300 | $2,581,800 | 4 |
1. North Gaia EC is affordable in today’s context, but lacks accessibility
At a median of $1.25 million, we doubt any new launches apart from another EC will be cheaper this year.
North Gaia is one of the few properties where some first-time home buyers may still have a shot: at $1.25 million, we’d expect a minimum cash down of around $62,500, and a total down payment of $312,500 – possible with the combined CPF balances of two working adults.
For HDB upgraders, however, North Gaia should be an easy step up given the high resale flat prices.
North Gaia has the usual problem with ECs however, in that it lacks any nearby MRT station, and its location between Yishun Avenues 6 and 8 is not a particularly central or convenient spot. Other than Junction Nine mall, there are few major amenities.
Its location is obviously its biggest hindrance, when you look at the better performance of later EC launches like Tenet and Copan Grand (fully sold after a month)
2. Surprisingly, there are still RCR units with a median price below $2 million
Zyanya’s low price point is likely due to its Geylang location. Note that Zyanya is not in the red light areas proper; but it is within walking distance, which may put off some family buyers. Investors may also worry a bit about resale value, so this is mainly an asset for landlords (Geylang is something of a rental gold mine, due to the low vacancy rates and large numbers of foreign worker tenants).
Royal Hallmark may be one of the more under-the-radar freehold condos. This boutique project has just 32 units, and is practically next to Tanjong Katong Girls School. It’s even within a 10+ minute walk to East Coast Road, the lifestyle hub of the Katong area. If there’s one thing that may be keeping the price low, it’s the abundance of freehold boutique projects that have saturated this area.
For Bartley Vue, we happen to have a very comprehensive review of its comparison to some other three-bedders here. The lower price point may be due to the lack of immediate, “across the road” amenities, like a coffee shop you can stroll to (although Bartley Vue is within walking distance to Bartley MRT).
Most affordable four-bedder units
Core Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Peak Residence | $3,319,800 | $3,629,700 | $3,869,600 | 1 |
| Neu At Novena | $3,339,000 | $3,553,000 | $3,585,000 | 4 |
| Enchante | $3,460,000 | $3,508,050 | $3,535,800 | 1 |
| Wilshire Residences | $3,521,000 | $3,550,000 | $3,573,000 | 1 |
| Midtown Modern | $3,781,000 | $4,430,000 | $5,939,000 | 1 |
| Van Holland | $3,865,590 | $4,143,690 | $4,421,790 | 8 |
| Kopar At Newton | $3,967,000 | $4,013,000 | $4,097,000 | 2 |
| The Atelier | $4,371,000 | $4,446,000 | $4,769,000 | 51 |
| Pullman Residences Newton | $4,411,000 | $4,424,000 | $4,437,000 | 5 |
| Leedon Green | $4,529,000 | $4,588,500 | $4,648,000 | 6 |
| Cairnhill 16 | $5,574,000 | $5,574,000 | $5,574,000 | 2 |
| Juniper Hill | $6,068,600 | $6,068,600 | $6,068,600 | 6 |
| The Avenir | $6,708,000 | $6,722,000 | $6,736,000 | 2 |
| Klimt Cairnhill | $6,950,000 | $6,950,000 | $6,950,000 | 2 |
| Irwell Hill Residences | $9,452,000 | $9,452,000 | $9,452,000 | 4 |
Rest of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| North Gaia | $1,608,000 | $1,671,000 | $1,837,000 | 2 |
| The Watergardens At Canberra | $1,941,000 | $1,951,000 | $1,967,000 | 24 |
| Pasir Ris 8 | $2,596,000 | $2,602,000 | $2,608,000 | 59 |
| Sky Eden@Bedok | $2,608,000 | $2,679,000 | $2,796,000 | 1 |
| The Lilium | $2,620,300 | $3,110,800 | $3,771,300 | 6 |
| The Gazania | $2,866,000 | $3,445,500 | $3,970,000 | 11 |
| Lentor Modern | $3,011,900 | $3,092,600 | $3,362,800 | 12 |
| Parc Clematis | $4,530,000 | $4,530,000 | $4,530,000 | 8 |
| AMO Residence | $5,588,000 | $5,728,000 | $5,868,000 | 5 |
Outside of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Zyanya | $2,125,900 | $2,222,200 | $2,321,700 | 4 |
| Royal Hallmark | $2,240,000 | $2,285,920 | $2,328,900 | 6 |
| Mori | $2,355,000 | $2,366,000 | $2,377,000 | 2 |
| Bartley Vue | $2,422,000 | $2,453,500 | $2,584,000 | 6 |
| Atlassia | $2,512,186 | $2,612,713 | $2,786,533 | 2 |
| Piccadilly Grand | $2,823,000 | $2,901,500 | $3,229,000 | 2 |
| One Pearl Bank | $3,821,000 | $4,039,000 | $9,096,000 | 9 |
| LIV @ MB | $3,896,000 | $4,117,000 | $4,368,000 | 36 |
| Meyer Mansion | $4,713,300 | $4,740,500 | $4,767,700 | 3 |
| Canninghill Piers | $5,544,000 | $5,560,000 | $5,576,000 | 5 |
There isn’t too much to note here, as you’ll notice the names are relatively similar to the three-bedders (see above). The only painful thing to spot, we suppose, is the dearth of new launch four-bedders that are under $2.2 million.
At this point, we feel most first-time buyers are priced out of new four-bedders completely; and even HDB upgraders may struggle (unless you have sizeable proceeds from a high-demand 5-room flat, EA, DBSS flat, etc.)
The Watergardens at Canberra is the only one to fall below $2 million, but this comes at the cost of a rather inconvenient location. We previously highlighted the trade-offs, when we identified it as one of the most competitively priced condos to date.
Even if you want a unit at Watergardens at Canberra, however, it may be tough as it’s almost all sold out, such is the demand for homes today.
About five-bedder units
Core Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Kopar At Newton | $4,411,000 | $4,421,500 | $4,432,000 | 1 |
| Enchante | $5,220,000 | $5,220,000 | $5,220,000 | 1 |
| Irwell Hill Residences | $11,080,000 | $11,080,000 | $11,080,000 | 2 |
| One Bernam | $16,649,000 | $16,649,000 | $16,649,000 | 1 |
Rest of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| Piccadilly Grand | $3,046,000 | $3,291,000 | $3,684,000 | 10 |
| Amber Park | $5,082,000 | $5,359,500 | $5,838,000 | 1 |
| Atlassia | $5,110,889 | $5,110,889 | $5,110,889 | 14 |
| Sky Everton | $5,868,000 | $5,868,000 | $5,868,000 | 26 |
| Canninghill Piers | $8,616,000 | $9,140,000 | $13,000,000 | 1 |
Outside of Central Region
| Project | Min ($) | Median ($) | Max ($) | No. of Units Remaining |
| North Gaia | $1,974,000 | $1,984,000 | $1,994,000 | 3 |
| Parc Clematis | $3,080,000 | $5,500,000 | $5,500,000 | 4 |
| AMO Residence | $3,171,000 | $3,348,000 | $3,378,000 | 3 |
At this point, it feels wrong to use the word “affordable”, as you can see from the prices above. North Gaia is, again, an exception due to its EC status and location issues; but even so, we feel buyers will baulk at paying $1.98+ million for a less accessible EC.
If there’s a unit we would highlight here, it’s the five-bedders at AMO Residence. We do feel this is well-priced given the strong location. We explained in our review that this condo is one of the better full-featured condos to date, with MRT connectivity (it’s within walking distance of Mayflower MRT).
It’s also right next to the Ang Mo Kio hub, so just about every amenity you need – from haircuts to supermarkets – is a short walk away. A median of $3.348 million is beyond the average Singaporean, but in this market, you still don’t have too many options anyway.
This article was first published in Stackedhomes.