What properties can you buy on a $1 million budget?
What can you get for a million dollars these days? Well, it depends on where you’re buying.
If you’re looking at properties in the suburbs, such as those in the north-east region, you can typically score a bigger abode, complete with spare bedrooms for the price tag. Incidentally, north-east properties have also become the most highly sought-after among foreign property investors.
But if you have your sights set on more expensive neighbourhoods such as those located in the prime districts, you may find yourself with a cosy one-bedder. Check out how far you can stretch your million-dollar budget here.
1) In the prime districts
In 2017, sales of new properties in Singapore’s prime districts or the Core Central Region (CCR) transacted at an average of $2,176 psf, while resale properties sold at an average of $1,893 psf. CCR includes Singapore’s more prestigious areas such as Bukit Timah, Holland Road, Novena, Orchard and River Valley.
If you would like to live right in the heart of the city-state, here’s what you can expect for a $1 million budget :
A one-bedroom unit at Loft@Nathan
Price: $950,000 ($1,837.50 psf)
Tenure: Freehold
Location: D10 – 31 Nathan Road
One-bedder units ranging 377 sq ft to 517 sq ft at the 121-unit project are currently listed for sale on EdgeProp.sg for between $720,000 ($1,909.80 psf) and $950,000 ($1,837.50 psf). Find units at Loft@Nathan here.
A one-bedroom unit at Parc Sophia
Price: $980,000 ($$2,067.50 psf)
Tenure: Freehold
Location: D9 – Adis Road
The 152-unit development is located just 308m away from Dhoby Gaut MRT station. One-bedder units ranging 474 sq ft to 506 sq ft are currently listed for sale on EdgeProp.sg for between $950,000 ($1,877 psf) to $980,000 ($2,067.50 psf). Browse units at Parc Sophia here.
2) In the city fringes
City fringe properties refer to projects in Rest of Central Region (RCR), which puts you far enough from the hustle and bustle of the central business district (CBD) but still close enough to the city centre in locations such as Geylang, Kallang, Serangoon, Toa Payoh and Tiong Bahru.
In 2017, new projects in RCR sold at an average of $1,656 psf, while resale condos sold at $1,240 psf. What would $1 million get you in the city fringes?
A two-bedroom unit at The Interweave
Price: $1 million ($1,451.40 psf)
Tenure: Freehold
Location: D12 – 21 Kim Keat Road
The 169-unit project is located just 270m away from Shaw Plaza. Two-bedroom units at The Interweave are currently listed for sale on EdgeProp.sg for between $938,000 ($1,361.40 psf) and $1.1 million ($,1440 psf). Find units at The interweave here.
A two-bedroom unit at One Eighties Residences
Price: $910,000 ($1,482.08 psf)
Tenure: Freehold
Location: D15 – Joo Chiat Terrace
The 52-unit project is located less than 400m away from hawker centres at Whampoa Drive. Two-bedder units at One Eighties Residences are currently listed for $910,000 ($1,482.08 psf). Find similar units here.
3) In the suburbs
Properties located within outside central region (OCR) are also commonly referred to as suburb properties. They are typically mass market condos situated in densely populated estates such as Sengkang, Punggol, Tampines, Bedok and Jurong.
In 2017, new private properties in the OCR transacted at an average of 1,314 psf, while resale condos sold at 929 psf. Here’s what you can buy for $1 million in the suburbs:
A three-bedroom unit at Rio Vista
Price: $950,000 ($761.22 psf)
Tenure: 99-year leasehold
D19 – Upper Serangoon View
Three-bedroom units from 1,249 sq ft at the 716-unit development are currently listed for sale between $970,000 ($776.60 psf) and $1.05 million ($840.67 psf) on EdgeProp.sg. Browse units at Rio Vista here.
A three-bedroom unit at Castle Green
Price: $960,000 ($834.06 psf)
Tenure: 99-year leasehold
D26 – Yio Chu Kang Road
Castle Green comprises 664 units. Three-bedroom units from 1,151 sq ft to 1,216 sq ft at the development are currently listed for sale on EdgeProp.sg for between $958,000 ($787.80 psf) to $960,000 ($834 psf). Find similar units at Castle Green here.
Considering buying a HDB instead? Check out these million-dollar HDB hotspots.
Related Articles From EdgeProp.sg
Your Property Agent Says: When is the best time to sell your home?
Older freehold apartments below $1,000 psf are value-for-money buys
Singapore’s million-dollar HDB hotspots
Prime district condos with the highest demand in 2017
