Choosing the right location is the most important part of buying property anywhere in the world. Singapore’s real estate market certain isn’t an exception to this rule!
Property values in Singapore vary significantly from one area to the next. The investment potential of owning a condo in Orchard, for example, is completely different compared to Serangoon.
Let’s explore some of the best places to buy property in Singapore, taking into account factors such as price, rental yields, connectivity, and lifestyle.
Central Singapore
The Central Area is the heart of Singapore. Buying property here puts you in the center of the action with easy access to Singapore’s world-class amenities.
Districts in the Central Area include Downtown Core, Orchard, Newton, River Valley, and Tanjong Pagar.
Meanwhile, Central Area is well-connected via MRT and major expressways. Condos in this area tend to be popular with expats and have strong rental demand.
However, all these perks come at a steep price. The Central Area has some of the highest property prices in Singapore, and in fact the entire world, often exceeding S$20,000 per square meter.
Most properties in central Singapore are also leasehold rather than freehold. While it’s still possible to find leasehold property, it’s increasingly harder and very expensive.
If you’re an investor looking for value, the Central Area may not be the best bet. But if you prioritize location and don’t mind paying a premium, it could be a great choice.
Some notable condos in Singapore’s central core include Wallich Residence (Tanjong Pagar), an ultra-luxurious project integrated with Tanjong Pagar MRT, and Marina One Residences (Marina Bay), an integrated development with office and retail components.
New condos in Singapore like The Avenir (River Valley) and Kopar at Newton are also garnering interest from well-heeled buyers.
The Central Area is the heart of Singapore and home to the central business district, shopping belts, and entertainment zones. Condominiums situated in this area can cost up to SGD$20,000 per sqm.
North Region
For investors seeking relatively affordable housing, Singapore’s northern suburbs are all worth considering.
These neighborhoods, including Woodlands, Sembawang, Yishun, Ang Mo Kio, and several other places have seen significant development in recent years, with new amenities and improved transport connectivity.
Woodlands, in particular, is shaping up to be a regional center with several major projects in the pipeline. These include the Woodlands Regional Centre, a new retail and business hub, and the Rapid Transit System (RTS) Link connecting to Johor Bahru in Malaysia.
The upcoming Woodlands North Coast, a waterfront residential district with generous green spaces, also presents an exciting opportunity for buyers.
Sembawang is another up-and-coming area with a laid-back, suburban vibe. The 4.2km-long Sembawang Park Connector links the town to the scenic Sembawang Park and Beach.
Condos like The Waterlily and Skypark Residences offer resort-style living away from the hustle and bustle.
Yishun has seen a surge in new launches in recent years, with projects like Signature at Yishun, The Wisteria and Symphony Suites proving popular with HDB upgraders.
Yishun’s relative affordability, convenient amenities and improving connectivity make it an attractive option for budget-conscious investors.
Meanwhile, Ang Mo Kio is considered the most affordable neighborhood in Singapore to live!
Average prices for new condos in the North Region hover around $13,000 to S$15,000 per square meter, which is significantly lower than the Central Area.
While rental yields in Singapore suburbs generally aren’t as high, the entry price is more palatable as an investor. The potential upside from the area’s transformation is another reason to invest outside the CBD.
Yishun’s relative affordability, convenient amenities and improving connectivity make it an attractive option. The Symphony Suites project is also among one of the projects investors are interested in.
East Coast
Singapore’s eastern coast, which includes districts like Marine Parade, Bedok and Siglap, is known for its laid-back charm and seafront living.
While further from the city center, the East Coast offers a more relaxed pace of life with plenty of recreational options.
One major highlight is the East Coast Park, a scenic 15km stretch of beach and parkland that’s popular for cycling, rollerblading, and picnics.
The park is accessible from several East Coast condos, including Seaside Residences (Siglap) and Mandarin Gardens (Marine Parade).
Amenities in the East Coast area are plentiful, with major malls like Parkway Parade, i12 Katong, and Bedok Mall offering a good range of retail and dining options.
Singapore’s East Coast is also known for its excellent local food, with hotspots like East Coast Lagoon Food Village and Old Airport Road Food Centre.
In terms of connectivity, the East Coast area is served by the East-West MRT Line and major expressways like the ECP and PIE. Changi Airport is a short drive away, making the East Coast a popular choice for frequent flyers and aviation industry professionals.
Condos in the East Coast tend to be more spacious compared to those in the Central Area, with many offering a good range of facilities like swimming pools, gyms and tennis courts.
Some notable projects include the upcoming Amber Park, a freehold development with a stunning rooftop recreational deck, and Seaside Residences, which overlooks the East Coast beach.
Average prices for new condos in East Singapore are around S$17,000 per square meter with premium projects crossing the S$20,000 mark.
While not as cheap compared to other suburbs, the East Singapore offers a good balance of lifestyle and investment potential.
The upcoming Bayshore precinct, a new waterfront district with residential, commercial, and recreational spaces, could also boost property values in the neighborhood.
The East Coast Park is a scenic 15km stretch of beach and parkland that’s popular for cycling, rollerblading, and picnics. The park sees a high number of visitors weekly, especially during the weekends and long holidays.
West Region
The West Region of Singapore, which includes areas like Jurong, Clementi and Bukit Batok, has traditionally been seen as a more affordable alternative to the central and eastern parts of the island.
But with the government’s decentralization efforts and the development of new growth areas, the West is fast becoming a property hotspot.
The key game-changer is the Jurong Lake District (JLD), a 360-hectare development set to transform the West Region. Envisioned as Singapore’s second CBD, the JLD will comprise business and leisure developments centered around the scenic Jurong Lake.
Within the JLD, the upcoming Jurong Gateway precinct will be a vibrant mixed-use district with office towers, retail malls, hotels, and residential developments.
The precinct will be seamlessly integrated with the surrounding greenery and waterways, creating a unique live-work-play environment.
Another major development is the Jurong Lake Gardens, Singapore’s new national gardens in the heartlands.
Spanning 90 hectares, this lush recreational space will feature a 40-hectare central water body, a 53-hectare nature area, and a 7-hectare gateway garden. Several new condos, such as Parc Canberra and Clavon, are located close to the gardens.
The West Region is well-connected via the East-West and North-South MRT Lines, as well as major expressways like the PIE and AYE. The upcoming Jurong Region Line, a 24km MRT line serving the district, will further enhance connectivity.
In terms of property options, the West Region offers a good mix of HDB flats, condos, and landed homes.
Condos like Whistler Grand (West Coast Vale) and Parc Clematis (Clementi) have seen strong take-up rates, with buyers drawn to their convenient location and extensive facilities.
Average per square meter prices for new condos in the West Region range from S$14,000 to S$18,000, offering good value for money compared to more central locations.
As the JLD and other developments take shape, property values in the West are expected to rise, making it an attractive option for investors with a long-term view.
Envisioned as Singapore’s second CBD, the Jurong Lake District will comprise business and leisure developments centered around the scenic Jurong Lake.
Where Should You Buy Property in Singapore?
Singapore’s property market offers a diverse range of options for investors, each with its own strengths and trade-offs.
Central Singapore is ideal for those who prioritize location and don’t mind paying a premium, while the North and West Regions offer more affordable entry points with good potential upside.
The East Coast provides a laid-back seafront lifestyle that’s popular with families and expats. All across the island, the government’s decentralization efforts and the rise of regional centers are creating new property hotspots with strong growth prospects.
When deciding where to invest, consider factors like your budget, investment goals, and lifestyle preferences.
Especially, look for properties in Singapore with good connectivity, nearby amenities, and potential for capital appreciation.
It’s also important to work with reputable developers and real estate agents to ensure a smooth buying process.
While Singapore’s property market is generally well-regulated, doing your due diligence is key to making a sound investment.
Overall, Singapore remains an attractive destination as a foreign property investor thanks to its robust legal system and economic resilience.
The only main issue, besides Singapore’s notorious cost, is picking exactly where to buy!
Locations in Singapore: FAQs
How Much Does Real Estate in Singapore Cost?
The cost of real estate in Singapore varies widely based on location and other factors. With that said, you should expect to spend about S$20,000 per square meter on average for a luxury condo in the city center. Prices can reach as low as $10,000 further out into the suburbs though.
Where is the Most Expensive Place in Singapore?
If you're looking at condos, the penthouse units located around Orchard and Singapore's central business district often cost well-above S$50 million.
For houses, GCBs, and other types of landed property in Singapore, any part of the city center or Sentosa are equally expensive.
Where is the Cheapest Area to Live Singapore?
The most affordable neighborhood in Singapore is Ang Mo Kio. On average, residents only spend 23% of their income to live here.
