Cheapest Landed Property Singapore 2024 – Under $2million in Singapore?

Last updated: March 2024

Key Takeaways:

  • Landed properties in Singapore are a luxury investment due to their scarcity and high demand.
  • The Teacher’s Housing Estate and MacPherson Garden Estate are among the top cheapest landed properties.
  • Factors influencing high prices include limited land availability and the premium on space and privacy.
  • While foreigners face restrictions, there are exceptions like Sentosa Cove or obtaining approval from the Land Dealings Approval Unit.

Introduction:
Navigating the exclusive market of Singapore’s landed property can be daunting, yet opportunities for value exist. This concise guide demystifies the process, highlighting the cheapest landed properties and providing insights into making this aspirational purchase a reality.

Featured Snippet:
Where can you find the cheapest landed property in Singapore? The cheapest landed properties in Singapore can be found in areas like Teacher’s Housing Estate and MacPherson Garden Estate, offering a blend of affordability and lifestyle. Despite the high barrier to entry, these estates present potential for both living and investment, with prices starting from $1,168 PSF, making them attractive options for those seeking the benefits of landed living without the typical price tag.

Here are our top picks on:

Top 5 Cheapest Landed Properties in Singapore

1. Teacher’s Housing Estate

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Teacher’s Housing Estate – Cheapest Landed Property Singapore

Specifically created to meet the housing needs of teachers in the city-state of Singapore, the Teacher’s Housing Estate is a residential neighborhood in Singapore.

This estate, which has locations around Singapore, gives teachers a variety of housing choices and conveniences to ensure their comfort and convenience.

A well-designed and well planned complex that caters to the special requirements of teachers, The Teacher’s Housing Estate in Singapore.

It provides educators with a convenient living environment that supports them in their essential task of forming young minds. This is made possible by its numerous housing options, accessible location, and extensive list of facilities.

This housing development really puts the welfare of teachers first, whether it’s through the proximity to schools or the accessibility of recreational amenities.

Estimated Unit Price Per Square Foot (PSF): $1,933

Average Transacted Price: $1,650,000

Address: 15 Munshi Abdullah Ave, Singapore 788627

2. MacPherson Garden Estate

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MacPherson Garden Estate – Cheapest Landed Property Singapore

The enticing residential community of MacPherson Garden Estate in Singapore provides a wide range of facilities and a really exceptional way of life.

This estate, which is situated in the eastern region of Singapore, has a tranquil and pleasant atmosphere, making it the perfect area to start a family.

Its lush and verdant surroundings are one of MacPherson Garden Estate’s most notable attractions.

The estate is decorated with exquisitely planted gardens, energizing parks, and immaculate paths, offering inhabitants a calm respite from the hectic city life.

A wide selection of contemporary amenities are also available at MacPherson Garden Estate. There are many options for a healthy and active lifestyle available to residents thanks to the availability of well-equipped fitness facilities, swimming pools, and sports fields.

Residents may conveniently fulfill their daily requirements without having to drive far thanks to the estate’s inclusion of a variety of stores, supermarkets, and restaurants.

Therefore, MacPherson Garden Estate will certainly fascinate and enchant you whether you are a lover of nature, an avid exerciser, or someone looking for a thriving community.

Estimated Unit Price Per Square Foot (PSF): $2,204

Average Transacted Price: $1,950,000

Address: 72 Jln Gembira, Singapore 369162

3. Opera Estate

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Opera Estate – Cheapest Landed Property Singapore

The attractive and vibrant neighborhood of Opera Estate is situated in Singapore’s eastern region.

It is not surprising that this residential community is much sought after by both residents and foreigners given its well-kept surroundings and abundance of services.

The neighboring East Coast Park is a well-liked destination for folks who enjoy being outside. This huge park is not far away and provides a variety of activities for people of all ages.

There is something for everyone to enjoy, from bicycling along the picturesque coastline road to picnicking by the water.

Opera Estate is a great spot for families because it is bordered by excellent institutions in terms of education.

Parents have a choice of educational alternatives for their children, ranging from elementary schools to international institutions.

Therefore, this area provides everything you might want, whether you’re seeking outdoor activities, food and retail opportunities, or outstanding schools for your kids.

Estimated Unit Price Per Square Foot (PSF): $1,604

Average Transacted Price: $2,100,000

Address: 48 Fidelio St, Singapore 458436

4. Sennett Estate

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Sennett Estate – Cheapest Landed Property Singapore

Sennett Estate offers some genuinely exceptional real estate choices. There is a vast selection of homes available to suit a variety of interests and budgets, from roomy bungalows to opulent complexes.

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Exceptional workmanship and attention to detail are evident in the dwellings’ top-notch architecture and design.

Living spaces that are roomy, contemporary conveniences, and stunning views of the surroundings are all available to residents.

These apartments provide a lavish lifestyle that is difficult to refuse because of the top-notch amenities offered.

Sennett Estate offers more than just its architectural features; it also fosters a sense of belonging and security. A friendly and inviting atmosphere is produced by the close-knit relationships that the locals frequently develop.

Residents may feel secure knowing that their safety is well-cared for because there are effective security measures in place.

Estimated Unit Price Per Square Foot (PSF): $1,365

Average Transacted Price: $2,050,000

Address: 48 Kee Choe Ave, Singapore 348983

5. Sembawang Straits Estate

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Sembawang Straits Estate – Cheapest Landed Property Singapore

The alluring residential community of Sembawang Straits Estate in Singapore provides a unique mix of contemporary amenities, historical relevance, and natural beauty.

Nestled along Singapore’s northern shore, this estate is renowned for its stunning waterfront vistas, lush landscaping, and elegant colonial-style homes.

The Sembawang Straits Estate provides a lot of amenities for its inhabitants. The estate is bordered by a variety of stores, restaurants, and shopping centers, making it simple to access everyday needs and recreational pursuits.

It is a wonderful option for people looking for a pleasant and well-connected neighborhood to call home because of its breathtaking waterfront views, tranquil parklands, and handy location.

Estimated Unit Price Per Square Foot (PSF): $1,168

Average Transacted Price: $2,450,000

Address: Sembawang Rd, Singapore 752106

Related: How Much is the Cheapest Condo Singapore?

What is the average price of a landed property in Singapore?

A typical landed property in Singapore currently costs somewhere in the multi-million dollar range.

A semi-detached home in a prestigious area like Bukit Timah may easily earn a price tag of $5 million or more, with some luxury houses commanding upwards of $10 million.

Even more cheap landed homes, such terraced homes or bungalows, are out of reach for the majority of Singaporeans.

Prices for terraced homes in typical neighborhoods may easily reach $2 million, while a bungalow in a posh neighborhood like Sentosa Cove might cost purchasers between $10 million and $20 million.

Numerous reasons are responsible for the skyrocketing prices of landed properties in Singapore.

Exorbitant pricing are a result of a lack of available land and high building expenses.

The high demand from both domestic and international purchasers as well as Singapore’s stable economy, favorable investment climate, and increased demand all add to the upward pressure on prices.

Despite the fact that the cost of a landed property in Singapore at the moment could appear excessive for the typical buyer, it’s vital to remember that the real estate market is prone to changes. Prices may change in response to fluctuations in demand.

However, careful financial preparation and analysis of available possibilities will be of the highest significance for individuals hoping to get their own piece of landed property in the Lion City.

What is the price trend in landed properties in Singapore?

Over the past few years, there has been a steady rise in the price of landed properties in Singapore.

Prices have consistently increased as a result of the escalating demand for homes in this category.

The scarce supply of Singaporean landed properties is one reason driving up prices.

The number of landed dwellings is much smaller than other types of residential properties in the city-state due to the lack of accessible land.

The appeal of owning a landed property in Singapore is yet another element driving the price trend.

Owners of landed properties enjoy a sense of exclusivity, seclusion, and roomy living. For these qualities, many purchasers are prepared to pay more.

The excellent overall performance of the Singapore real estate market is another factor driving up prices.

The market as a whole has proven resilient, steadily increasing in value over time.

Additionally, purchasers are more inclined to invest in real estate, especially landed houses, due to the cheap interest rate environment in recent years.

Buyers are more prepared to test the limits of their affordability when there are cost-effective financing options, which results in higher pricing.

Which area is best for landed property in Singapore?

Your tastes, financial situation, lifestyle, and investment objectives all play a role in determining the ideal location for landed property in Singapore.

Landed residences may be found in a number of upscale residential districts in Singapore. These include, among others:

Bukit Timah

Bukit Timah, a district in Singapore known for its affluent communities, provides a combination of roomy landed houses, top-notch schools, and close access to natural areas.

East Coast

In addition to being close to the beach, parks, and a variety of restaurants, this neighborhood provides a mix of modern and historic landed homes.

Holland Road

A reputable residential neighborhood with a selection of landed homes and access to eating and retail options.

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Nassim Road

The area has upscale landed homes and is close to Orchard Road and the Singapore Botanic Gardens.

Tanglin

Tanglin, which is well-known for its embassies and diplomatic mansions, contains both old and new landed villas.

Consider your individual wants and interests, keep in mind that property values and tastes might vary over time, and even seek the advice of real estate experts to choose the ideal place for your particular circumstances.

Considering factors like accessibility, closeness to facilities, schools, and potential future developments in the region is also crucial.

Is it worth buying landed property in Singapore?

Most definitely! For several reasons, buying landed property in Singapore might be a wise investment for those who can afford.

Compared to other housing alternatives, landed houses provide more privacy and space, making for a more elegant and pleasant living environment.

Additionally, the lack of available land in Singapore raises the value of landed homes, which makes them a potentially profitable investment.

The value of these assets has often increased over time, providing significant returns on investment.

The danger of investing is further decreased by Singapore’s stable economy and robust real estate market.

The advantages of owning landed property in Singapore outweigh any initial costs, making the purchase profitable.

Therefore, investing in Singapore’s cheapest landed property, if you can afford it, might be an excellent decision for both personal fulfillment and monetary benefit.

Can a foreigner buy landed property in Singapore?

Singapore usually prohibits foreigners from purchasing landed property.

Only Singapore citizens and permanent residents are permitted to purchase landed properties, which include bungalows, semi-detached homes, and terrace homes. Landed properties are also subject to tight rules.

The goal of this policy is to limit the amount of land that can be developed in Singapore while ensuring that residents have access to reasonably priced homes.

There are a few exceptions, though:

  • Sentosa Cove: Sentosa Cove is a designated residential enclave for foreign purchasers and is open to foreigners buying landed properties there.
  • Approval from Land Dealings (Approval) Unit: Foreigners may occasionally request authorisation from the Singapore Land Authority’s Land Dealings (Approval) Unit to buy a landed property for owner-occupation. This is often taken into account for professionals who are living and working in Singapore for an extended period of time.
  • Permanent Residents:When it comes to acquiring residential properties, including some types of landed properties, foreigners who become Permanent Residents (PRs) of Singapore are subject to fewer limitations.

Why is landed property so expensive in Singapore?

There are several factors that contribute to the high cost of landed property in Singapore, which are the following:

Land availability

The demand for landed properties far outstrips the supply due to a limited amount of available land and a rising population.

Due to the high cost and rarity, landed property is now considered a luxury and elite investment.

Land characteristic

When compared to alternative housing options, landed estates provide more privacy, space, and distinction.

The demand for large mansions on generous lots is a trait frequently linked to the wealthy class in society, which drives up price tags.

Economy and property market

The strong real estate market and steady economy of Singapore also add to the pricey character of landed property.

Investors are drawn to the prospect for strong returns on their investments while property values are rising.

Lastly, the pricey nature of landed property in the nation is a result of a mix of the country’s limited supply, strong demand, attractive qualities, and the general positive real estate market in Singapore.

How to afford landed property in Singapore?

You can use a variety of tactics to afford landed property in Singapore.

Here are five particular suggestions to make buying a landed property in Singapore more affordable:

Financial planning and budgeting

Create a thorough financial plan that details your income, spending, and savings objectives as well as your present financial condition. Make a budget that makes it apparent how much money you have available for a home purchase.

This will assist you in determining what you can reasonably afford and serve as a financial decision-making tool.

Save aggressively for down payment

A substantial down payment is frequently necessary for landed properties. Concentrate on actively saving to amass a big down payment.

Your progress may be accelerated by eliminating wasteful spending and putting that money into your savings.

Explore financing options

Study the various mortgage products and interest rates provided by various banks and financial institutions. Pick the strategy that best suits your financial condition and level of risk tolerance.

The affordability of your house may be considerably impacted by obtaining a competitive interest rate, so keep that in mind.

Invest wisely

Consider whether you can use your current investments to obtain money for the home acquisition if you have any.

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Make sure, though, that your investing choices are well-informed and in line with your financial objectives.

Consider co-ownership or joint purchase

Consider the option of buying the home with a relative, partner, or friend, if appropriate.

Co-ownership can ease the financial strain and increase the likelihood that a landed property can be afforded.

Is there private land ownership in Singapore?

Singapore allows for private land ownership, but it’s crucial to realize that this idea is handled differently here than it is in other nations.

In Singapore, the government is heavily involved in deciding how to utilize and distribute land. In Singapore, the government owns the vast majority of the land, which is then leased to people or other companies on a long-term basis under a system called a leasehold.

In other words, although the actual buildings and other improvements on the site can be bought and owned by individuals, the actual land is leased from the government.

The majority of leasehold properties have terms of 99 or 999 years.

The advantages of owning a leasehold property outweigh the peculiarities of land ownership in Singapore.

It enables people to take advantage of the conveniences and advantages of house ownership, including more room, privacy, and the possibility for investment growth.

Private land ownership in Singapore is stable and reliable due to the government’s tight restrictions as well as the city-state’s robust real estate industry.

How to invest in Singapore property with little money?

With limited resources, investing in real estate may be difficult, particularly in a market like Singapore where there is competition.

However, the following advice should be taken into account if you’re wanting to buy in Singapore real estate with a limited budget:

Set Clear Goals and Budget

Establish your investing objectives and determine your realistic investment capacity.

Set a budget for the purchase of the home, taking into account the down payment, closing expenses, and any improvements that could be necessary.

Consider Joint Ownership

You may improve your purchasing power and pool resources by forming a partnership with family, friends, or co-investors.

Explore Government Schemes

To assist first-time buyers and investors, Singapore offers a number of government programs.

For purchasers who qualify, look into possibilities like the Central Provident Fund (CPF) Housing Grant.

Focus on Location

Select a site with strong development potential, close proximity to commercial or educational hubs, amenities, and easy access to transportation.

Consider Older Properties

Older homes or those that require remodeling may be less expensive.

However, while determining their feasibility, make careful to take into account remodeling expenses and prospective rental revenue.

While these pointers might serve as a starting point, keep in mind that real estate investing is always risky.

Staying updated is essential for successful real estate investing since laws and market circumstances can change.

How to buy land in Singapore?

First and foremost, it’s crucial to undertake in-depth research on the local real estate market and pricing.

You will have a better knowledge of Singapore’s land availability and cost thanks to this.

Next, hire a trustworthy real estate agent that focuses on landed properties in Singapore.

Throughout the purchasing process, they may offer advice and support, including assisting you in locating acceptable solutions within your price range.

You must approach the seller or their agent to discuss the conditions of the acquisition once you have found a possible plot of property.

It is recommended to work with a property law specialist attorney to analyze the contract and make sure all legal requirements are met.

Lastly, arrange the funding needed for the acquisition. A bank or other financial institution’s mortgage loan might be used for this.

Find the most cost-effective choice for you by comparing terms and interest rates.

Cheapest Landed Property Singapore

Despite the high prices, investing in landed property in Singapore may be financially rewarding.

Although Singapore’s average price for landed property is high, the price trend has increased favorably over time.

Due to the strong demand and limited land supply in Singapore, landed property is quite expensive.

However, there are methods to finance land, including looking into financing choices and looking into government programs.

Overall, Singapore landed property is a good asset that long-term investors should take into account.

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