Updated: Oct 18
Owing a landed home in Singapore is often seen as a symbol of prestige, given their scarcity and the unique blend of privacy and space they offer.
Indeed, we can consider them to be the “blue chips” of the Singapore real estate market. Landed properties in Singapore have high price tags, but have continued to outperform other residential asset classes, and have also held up better during downtowns.
After having risen by 13.3% in 2021 and 9.6% in 2022, the URA price index for landed homes is up just around 1.8% for 2023 up to the end of the third quarter, based on URA’s latest flash estimates. In the third quarter, landed home prices broke an eight-quarter streak of increasing prices, and slipped 4.9% compared to the second quarter of 2023.
This slowdown in the market likely reflected the cooling effect from April 2023’s increase in Additional Buyer’s Stamp Duty (ABSD) rates, which affected not just foreigners but also local investors. Investors likely held back, adopting a wait-and-see approach, particularly given the degree of outperformance by the landed market in the past few years.
In this temporary lull, we review the landed property market in Singapore. What are the cheapest landed properties that have been sold in Singapore in 2023? Are there still affordable landed properties in the market? Where can you buy the cheapest landed properties in Singapore today? Let’s dive in!
Cheapest Landed Properties Sold in 2023
Based on transactions with caveats lodged and updated as of 9 October, the three cheapest landed homes sold in Singapore for 2023 year-to-date are:
Land Area (SQFT)
Transacted Price ($)
Transacted Price ($ PSF)
114 Jln Chempaka Kuning
70 YRS FR 19/08/1964
81 Jln Asas
99 YRS FR 18/03/1947
244 Bedok Rd
70 YRS FR 19/08/1964
All three are leasehold properties, with very short leases left. 81 Jln Asas has around 23 years left on its lease, and was likely hence able to fetch a premium on a $ PSF basis compared to the other two homes, which have just under 11 years left on their leases.
If we consider just freehold properties and landed homes with very long lease titles of over 800 years (typically, 999 years, which is often considered to be almost as "good" as freehold), the three lowest priced landed homes sold year-to-date are:
Land Area (SQFT)
Transacted Price ($)
Transacted Land Price ($ PSF)
29 Brighton Ave
17 How Sun Ave
67 Jln Mulia
29 Brighton Ave is a cluster landed home, and hence no land area data is available as that does not apply for cluster landed homes. With a cluster home, buyers get a strata title, much like with a condominium unit. They do not own the land directly. However, cluster homes offer home buyers a housing option that combines landed housing living with communal facilities and greenery, similar to a private condominium. With lower price tags, they can be a good option for buyers who value the space, but have more constraints in terms of their budgets.
17 How Sun Ave and 67 Jln Mulia are older homes, which will likely see major renovation, additions & alterations, or even be re-developed by the new owners. (Click on links to see them in Google Maps Streetview.)
In terms of absolute quantum, it appears that the base for a landed home was around $2m in Singapore, in 2023. This excludes the cost of renovation, additions & alterations, or redevelopment for these properties. We will examine the cost of such works in greater detail in a subsequent article; of course, they can range widely depending on the works you require. However, generally additions & alternations would start from $600,000, while a new build would cost in excess of $1,300,000.
Where are the Cheapest Landed Homes for Sale in Singapore Today?
If you were looking to buy a landed home today, many buyers would start their search on one of the major Singapore property portals, such as PropertyGuru. A search on PropertyGuru will show you most of the currently available properties in the market today. You can easily filter or sort by price as one of your primary parameters, to find the lowest priced properties.
Many landed listings tend to be somewhat scant on information, due to a multitude of reasons. For example, some owners may not want it publicly known that they are selling. You can reach out to each agent to enquire more. Some listings may be duplicated.
A quick search on PropertyGuru for landed properties under $2.5m gives shows 161 results (as of 9 October), located all over the island. The more centrally located units are likely to be smaller homes, and/or with short leases left only.
The cheapest unit is a 2,526sqft terrace at Jalan Chempaka Kuning, which has approximately 11 years left on its lease, asking $590,000.
Next is a corner terrace, also in the Jalan Chempaka Kuning vicinity and also with around 11 years left on its lease. It appears to be listed by a number of agents, with listing prices varying at around $680,000 to $820,000. (Such duplicated listings can appear when an owner works with multiple agents to list their property. At times, an agent may also work with other agents or create multiple listings to increase the potential exposure of the property.)
Leasehold homes make up the majority of the cheapest landed properties in the market under $2.5m. Not all of them have such short leases however, thankfully. For buyers whose top priority is space for their families, there are younger leasehold landed properties that can be a good choice.
For example, this home at Villa Verde, asking $2,400,000, has 5 bedrooms spread over 2,900sqft and 3 storeys! It has well over 70-years left on its lease.
In fact, in the same district 23, there are just 5 condo listings with at least 5 bedrooms and at least 2,000sqft in size. All 5 are leasehold properties as well. Pricing ranges from $2,988,888 to $3,784,000.
For our original landed property search, filtering for 999-year leasehold to freehold properties, there were just 13 results. Be aware, some of these are strata-landed titles, such as cluster houses. In some cases, the property may be on the upper floor/s of a terrace house or shophouse, and you may literally not own any ‘land’. Depending on your specific intent and criteria, these may or may not be the right property for you.
Reach Out to Us at Realvestor to Discuss
Price is often an important consideration, but rarely the sole deciding factor in any purchase. In truth, while it may have been interesting to know what the cheapest landed properties in Singapore are, it was likely not particularly useful information.
Landed homes, even in the same area, can vary significantly in terms of many factors such as size, age, and condition. Hence, their prices can vary quite a bit as well.
Singapore is a well-regulated market with good transparency, and it is not difficult for anyone to obtain data such as precise transaction information - this can be easily done by subscribing to URA's paid data service URA Realis. However, given how different each landed property can be, a higher or lower price tag does not necessarily translate into worse or better value. It is quite different from purchasing a condominium unit, for example, where there are more direct comparables.
Furthermore, in the case of purchasing a landed property, investors looking to buy such a property are rarely looking for the cheapest property per se. Often times, the property is a home for generations, forming part of his or her legacy.
There are many considerations in purchasing a landed property, and potential pitfalls that you can avoid with proper due diligence. For example, checking of the Road Line Plan from the Land Transport Authority (LTA) for any road reserves affecting a landed property you are planning to acquire is a must. If a property is intersected by a road reserve line, the government can acquire the affected land when it constructs or improves a road. If you, as the owner, decide to redevelop the land, the affected portion will also have to be surrendered, free of encumbrances to the government.
The below shows a landed property that is affected by a road reserve intersecting it. If there had been no check done, the buyer may not have known about the road reserve until after the deal was sealed. He would likely have overpaid for the land.
It is important to do your due diligence, and/or work with someone who can help you make an informed decision. Reach out to us to discuss.
About the Author
In her former life as an equity analyst, Evon analyzed companies and stocks to find the best ones for her investors to put their money in, with over a decade of consistent outperformance. Now as a realtor, she enjoys using her analytical skills to help her client secure the best properties to invest in, and finds the greatest joy in journeying with clients towards their dream homes and ideal units.
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