The Most Expensive and the Cheapest Residences in Singapore by Neighborhood – March 2018

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The Most Expensive and the Cheapest Residences in Singapore by Neighborhood – March 2018

In 2018, Singapore was ranked as the most important property market in ASEAN by Morgan Stanley’s research. Given this, it is not surprising that Singapore is also home to some of the most expensive properties in the world. But just how nice and expensive can homes in Singapore be? Also, how do they compare to the cheapest residences in their neighborhoods? In classic ValuePenguin fashion, we’ve collected the data on the most expensive and the cheapest homes currently listed in Singapore by neighborhood as of March 2018. If you are looking to purchase a home in Singapore, our study below might be of value.

Key Findings

Overall, we found that the most expensive homes in each of the 28 neighborhoods generally ranged from S$1.4 million to S$110 million, a wider range than what we observed in 2017 (S$4.4mn to S$106mn). These are ultra-fancy residences that tend to be either landed properties or penthouses of fancy new buildings.

Neighborhood Price (SGD) SQFT $/SQFT
1 Tanglin/Holland/Bukit Timah 110,000,000 52,000 2,115
2 Chinatown/Tanjong Pagar 108,000,000 21,108 5,117
3 Alexandra/Commonwealth 88,000,000 19,000 4,632
4 Harbourfront/Telok Blangah 88,000,000 19,869 4,429
5 Newton/Novena 70,000,000 5,950 11,765
6 Boat Quay/Raffles Place/Marina 60,000,000 11,012 5,449
7 Orchard/River Valley 55,000,000 9,494 5,793
8 East Coast/Marine Parade 46,999,999 31,000 1,516
9 Clementi Park/Upper Bukit Timah/Bt. Timah 46,000,000 27,000 1,704
10 Ang Mo Kio/Bishan/Thomson 35,000,000 25,400 1,378
11 Hougang/Punggol/Sengkang 29,000,000 20,000 1,450
12 Beach Road/Bugis/Rochor 27,000,000 11,130 2,426
13 Macpherson/Potong Pasir 23,000,000 20,715 1,110
14 Balestier/Toa Payoh 22,205,680 1,033 21,496
15 Eunos/Geylang/Paya Lebar 22,000,000 9,000 2,444
16 Buona Vista/West Coast/Clementi 16,988,000 13,900 1,222
17 Dairy Farm/Bukit Panjang/Choa Chu Kang 15,980,000 14,500 1,102
18 Bedok/Upper East Coast 15,000,000 14,376 1,043
19 Seletar/Yio Chu Kang 15,000,000 14,446 1,038
20 Admiralty/Woodlands 10,320,000 12,900 800
21 Changi Airport/Changi Village 9,200,000 9,000 1,022
22 Pasir Ris/Tampines 8,600,000 7,670 1,121
23 Mandai/Upper Thomson 7,800,000 9,900 788
24 City Hall/Clarke Quay 7,200,000 2,121 3,395
25 Farrer Park/Serangoon Rd 6,988,888 6,000 1,165
26 Sembawang/Yishun 6,880,000 6,522 1,055
27 Boon Lay/Jurong/Tuas 5,800,000 8,000 725
28 Lim Chu Kang/Tengah 1,365,000 1,133 1,205

In contrast, the cheapest residences typically cost around S$200,000 to S$1.2mn. In terms of price per square foot, expensive homes cost anywhere between S$700/sqft and S$20,000/sqft, with a median of S$1,414/sqft. This was significantly higher than S$350/sqft to S$2,210/sqft we observed for the cheapest properties, whose median was S$477/sqft.

Neighborhood Price (SGD) SQFT $/SQFT
1 Harbourfront/Telok Blangah 188,000 334 563
2 Admiralty/Woodlands 199,000 460 433
3 Boon Lay/Jurong/Tuas 200,000 474 422
4 Alexandra/Commonwealth 210,000 495 424
5 Macpherson/Potong Pasir 210,000 484 434
6 Bedok/Upper East Coast 210,000 484 434
7 Balestier/Toa Payoh 210,000 463 454
8 East Coast/Marine Parade 210,000 452 465
9 Sembawang/Yishun 210,000 430 488
10 Ang Mo Kio/Bishan/Thomson 218,000 473 461
11 Dairy Farm/Bukit Panjang/Choa Chu Kang 240,000 688 349
12 Eunos/Geylang/Paya Lebar 245,000 485 505
13 Buona Vista/West Coast/Clementi 248,000 474 523
14 Beach Road/Bugis/Rochor 248,000 452 549
15 Hougang/Punggol/Sengkang 250,000 689 363
16 Seletar/Yio Chu Kang 250,000 538 465
17 Pasir Ris/Tampines 270,000 484 558
18 Boat Quay/Raffles Place/Marina 288,000 786 366
19 Tanglin/Holland/Bukit Timah 290,000 645 450
20 Changi Airport/Changi Village 300,000 730 411
21 Farrer Park/Serangoon Rd 330,000 635 520
22 Chinatown/Tanjong Pagar 430,000 635 677
23 Newton/Novena 499,998 904 553
24 Clementi Park/Upper Bukit Timah/Bt. Timah 509,999 398 1,281
25 Orchard/River Valley 738,000 334 2,210
26 Mandai/Upper Thomson 748,000 517 1,447
27 Lim Chu Kang/Tengah 761,000 1,012 752
28 City Hall/Clarke Quay 1,200,000 806 1,489

Whether you are buying a property that costs S$20mn or one that costs $300,000, you are going to need to take out a loan from a bank to finance your purchase. To find the best deal, you could simply use our study to compare the best home loan rates available in Singapore.

Where Most Expensive vs Cheapest Properties Are

On PropertyGuru, the most expensive property currently on sale in Singapore is actually a piece of land in Tanglin/Holland/Bukit Timah area, with listing price of S$11mn and area of 52,000 sqft. In terms of an actual residential unit, the runner up was located at Wallich Residence in Chinatown/Tanjong Pagar area, with a price tag of S$108mn and a floor size of 21,108 sqft. As you can see, it’s a gigantic apartment in a newly built, high-end condo building.

Photo of the Wallich Residence Listing. Source: PropertyGuru

In contrast, two of the cheapest properties were located in Harbourfront/Telok Blangah and Admiralty/Woodlands areas. They were both relatively old and modest HDB flats with price per sqft of around S$500.

Photo of the Woodlands Listing’s Floor Plan. Source: PropertyGuru

The Highest & Lowest Cost Per Square Foot

In terms of price per square foot, we found a property located in Balestier/Toa Payoh area with a listed pricing of S$22 million. This unit in Kallang Riverside had a listed land size of 1,033 square foot, resulting in S$21,496 per square foot of unit cost. In contrast, the lowest cost per square foot we found was just S$350, located in Dairy Farm/Bukit Panjang/Choa Chu Kang area. Of course, given the difference in prices, their qualities were vastly different, with one being one of the fanciest properties in the world and the other being a very small, aged and modest HDB flat.

Neighborhood Price (SGD) SQFT $/SQFT
1 Balestier/Toa Payoh 22,205,680 1,033 21,496
2 Newton/Novena 70,000,000 5,950 11,765
3 Orchard/River Valley 55,000,000 9,494 5,793
4 Boat Quay/Raffles Place/Marina 60,000,000 11,012 5,449
5 Chinatown/Tanjong Pagar 108,000,000 21,108 5,117
6 Alexandra/Commonwealth 88,000,000 19,000 4,632
7 Harbourfront/Telok Blangah 88,000,000 19,869 4,429
8 City Hall/Clarke Quay 7,200,000 2,121 3,395
9 Eunos/Geylang/Paya Lebar 22,000,000 9,000 2,444
10 Beach Road/Bugis/Rochor 27,000,000 11,130 2,426
11 Tanglin/Holland/Bukit Timah 110,000,000 52,000 2,115
12 Clementi Park/Upper Bukit Timah/Bt. Timah 46,000,000 27,000 1,704
13 East Coast/Marine Parade 46,999,999 31,000 1,516
14 Hougang/Punggol/Sengkang 29,000,000 20,000 1,450
15 Ang Mo Kio/Bishan/Thomson 35,000,000 25,400 1,378
16 Buona Vista/West Coast/Clementi 16,988,000 13,900 1,222
17 Lim Chu Kang/Tengah 1,365,000 1,133 1,205
18 Farrer Park/Serangoon Rd 6,988,888 6,000 1,165
19 Pasir Ris/Tampines 8,600,000 7,670 1,121
20 Macpherson/Potong Pasir 23,000,000 20,715 1,110
21 Dairy Farm/Bukit Panjang/Choa Chu Kang 15,980,000 14,500 1,102
22 Sembawang/Yishun 6,880,000 6,522 1,055
23 Bedok/Upper East Coast 15,000,000 14,376 1,043
24 Seletar/Yio Chu Kang 15,000,000 14,446 1,038
25 Changi Airport/Changi Village 9,200,000 9,000 1,022
26 Admiralty/Woodlands 10,320,000 12,900 800
27 Mandai/Upper Thomson 7,800,000 9,900 788
28 Boon Lay/Jurong/Tuas 5,800,000 8,000 725

Comparison to 2017

We ran a similar study in February of 2017, where we collected prices for the most expensive residences listed in Singapore. In general, there were very little change in which neighborhoods had the most expensive and the most affordable properties. For instance, 4 of the top 5 neighborhoods that had the most expensive properties on sale in 2017 still ranked as top 5 in 2018. Similarly, 3 of the bottom 5 in 2017 were still ranked as bottom 5 in 2018. We observed the biggest rise in Alexandra/Commonwealth area, who ranked #3 in 2018 compared to ranking #23 in 2017. Conversely, we observed the biggest drop in Seletar/Yio Chu Kang area, which ranked #19 in 2018 compared to #10 in 2017.

Most Expensive Property by Neighborhood 2017 2018
1 Orchard/River Valley Tanglin/Holland/Bukit Timah
2 Clementi Park/Upper Bukit Timah/Bt. Timah Chinatown/Tanjong Pagar
3 Harbourfront/Telok Blangah Alexandra/Commonwealth
4 Tanglin/Holland/Bukit Timah Harbourfront/Telok Blangah
5 Chinatown/Tanjong Pagar Orchard/River Valley
6 Boat Quay/Raffles Place/Marina Newton/Novena
7 Newton/Novena Boat Quay/Raffles Place/Marina
8 East Coast/Marine Parade East Coast/Marine Parade
9 Ang Mo Kio/Bishan/Thomson Clementi Park/Upper Bukit Timah/Bt. Timah
10 Seletar/Yio Chu Kang Ang Mo Kio/Bishan/Thomson
11 Beach Road/Bugis/Rochor Hougang/Punggol/Sengkang
12 Bedok/Upper East Coast Beach Road/Bugis/Rochor
13 Eunos/Geylang/Paya Lebar Macpherson/Potong Pasir
14 Hougang/Punggol/Sengkang Balestier/Toa Payoh
15 Buona Vista/West Coast/Clementi Eunos/Geylang/Paya Lebar
16 Mandai/Upper Thomson Buona Vista/West Coast/Clementi
17 Macpherson/Potong Pasir Dairy Farm/Bukit Panjang/Choa Chu Kang
18 Dairy Farm/Bukit Panjang/Choa Chu Kang Bedok/Upper East Coast
19 Sembawang/Yishun Seletar/Yio Chu Kang
20 Farrer Park/Serangoon Rd Admiralty/Woodlands
21 Changi Airport/Changi Village Changi Airport/Changi Village
22 Pasir Ris/Tampines Pasir Ris/Tampines
23 Alexandra/Commonwealth Mandai/Upper Thomson
24 Admiralty/Woodlands City Hall/Clarke Quay
25 Balestier/Toa Payoh Farrer Park/Serangoon Rd
26 Boon Lay/Jurong/Tuas Sembawang/Yishun
27 City Hall/Clarke Quay Boon Lay/Jurong/Tuas
28 Lim Chu Kang/Tengah Lim Chu Kang/Tengah

Methodology

To look for the priciest homes in Singapore, we searched on PropertyGuru for the most expensive and the most affordable homes by neighborhood. We collected data for all 28 districts, and rank ordered properties by 1) total price and 2) by price per square foot. In order to calculate each property’s price per square foot, we divided the total price by either total land size or total property size, whichever was bigger. This was done in order to measure how much surface area an individual ends up owning by purchasing the property. In case of private residences with front and backyards, this would be the total land size. For town homes or villas with multiple floors, on the other hand, this would be the total property size.

The article The Most Expensive and the Cheapest Residences in Singapore by Neighborhood – March 2018 originally appeared on ValuePenguin.

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Source: ValuePen