New Launches Housing Market

11 Most Affordable New Condos To Invest In This 2023, Ranked By Lowest PSF 

12 July 2023 | BY

It’s hard to buy a quality condo at low cost; yet, these affordable new condos manage just that – with potentially huge returns to boot.

8 Most Affordable New Condos To Invest In This 2023, Ranked By Lowest PSF

For most of us, buying a property is one of the most expensive endeavours in our lives. If you’re thinking of investing in one, here are 11 of the most affordable new condos to get your hands on this year based on the price PSF. Secure the best deal on any of these homes by contacting the developer team directly to schedule your viewing here.

1. Lentor Modern

2023 affordable new condos - Lentor ModernImage credit: Lentor Modern

District: 26
TOP date: 2026
Psf price: $2,034-$2,576

One of our top picks for the most affordable new condos is Lentor Modern. Launched in September 2022 and set to TOP in 2026, Lentor Modern is a 99-year leasehold condo located at the new Lentor estate next to the Yio Chu Kang/Ang Mo Kio/Thomson area.

It is part of a mixed development with commercial spaces on the lower floors and residential units on the upper levels, and has direct access to the Lentor MRT station. Residents will be able to easily take a train to places like Woodlands, Orchard, Marina Bay, Siglap and Bedok when the TEL expands to stage 4 and 5 from next year onwards. 

Despite being in the Outside of Central Region (OCR), Lentor Modern was so popular that it sold over 84% of its units during its launch weekend. The selling prices at launch ranged from $1,856-$2,538, which is more affordable than other condos that were launched within the same period. 

Based on some checks online, units now hover between $2,034-$2,576 psf, with some outliers. For example, a 527sqft 1-bedder unit on the top floor was listed for $1.36M ($2,576 psf).

Contact the Lentor Modern developer team directly here for more info or to arrange a viewing.

2. Pasir Ris 8

2023 affordable new condos - Pasir Ris 8Image credit: Pasir Ris 8

District: 18
TOP date: 2025
Psf price: $1,680-$2,025

Just like Lentor Modern, Pasir Ris 8 is a 99-year leasehold condo that will be part of a mixed-use development. Though it doesn’t have direct underground access to the nearest station, Pasir Ris 8 is just 1-2 minutes walk away from Pasir Ris MRT on foot. The condo was launched in July 2021 and is set to TOP in 2025.

The relatively low prices of the condo is because it’s in Pasir Ris, which is at the extreme end of the East of Singapore. Travelling to other parts of Singapore can be a bit tiring – even if you do have an MRT station next to you – and not everyone wants to deal with long commutes.

Nonetheless, if you are able and willing to live further away in Pasir Ris, here are some prices of units we found listed online:

  • 775 sqft 2-bedder unit for $1.7M ($2,193 psf)
  • 1,464 sqft 4-bedder unit for $2.6M ($1,773 psf)
  • 1,023 sqft 3-bedder unit for $1.93M ($1,890 psf)

Contact the Pasir Ris 8 developer team directly here for more info or to arrange a viewing.

3. The Myst

2023 affordable new condos - The MystImage credit: The Myst

District: 23
TOP date: 2029
Psf price: From $1,862 psf (Current estimation)

The Myst is a 99-year leasehold condo located along Upper Bukit Timah Road, and it was launched on 8th July. There are a total of 408 apartments for sale, ranging from 1-bedder + study to 5-bedder units. 

What’s unique about The Myst is that its units follow two different colour schemes. 1 and 2-bedroom units use warm soft tones of browns, greens and golds, while 3, 4, and 5-bedroom units are adorned in tones of warm yellow, dark brown, black, red, and white.

The Myst isn’t directly connected to an MRT station – the closest stations are Bukit Panjang and Cashew, both of which are 8-10 minutes away on foot. However, its general locale is a lot more accessible than Pasir Ris, and spots such as Bukit Timah and the downtown area are just a short drive away.

Because the development is so new, there aren’t many data points to refer to for a sense of the prices. Nonetheless, based on speculation online, early bird launch prices for The Myst were pegged at upwards of $1,862 psf. This makes it one of the more affordable new launches for 2023.

Contact The Myst’s developer team directly here for more info or to arrange a viewing.

4. Gems Ville

Gems Ville Condo SingaporeImage credit: Gems Ville Project

District: 14
TOP date: 2025
Psf price: From $1,764

One of the more boutique a.k.a. “smaller” developments on this list is Gems Ville. Located on the fringe of the Geylang enclave, it benefits from being in a central location that’s also minutes away from Kallang MRT. There are only 24 units in this condo across 7 floors, so you’ll only have a handful of neighbours, which is perfect for those who love their privacy.

Of the 24 units available, there are 6 units each of the following room types:

  • 1-bedroom (517sqft)
  • 2-bedroom (797sqft)
  • 3-bedroom (1,130sqft)
  • 3-bedroom dual key (1,216sqft)

The most value-for-money option for Gems Ville is the 3-bedroom configuration that’s going from $1,993,100, which averages out to $1,763 psf. All units are still up for grabs, so if you get in quick you’ll be able to have your pick of the litter. The condo is also a freehold development.

Contact Gems Ville’s developer team directly here for more info or to arrange a viewing.

5. Zyanya

Zyanya affordable condoImage credit: Zyanya

District: 14
TOP date: End-2024
Psf price: From $1,832

Another development in the Geylang neighbourhood is Zyanya, although this condo is right by Aljunied MRT instead. The freehold development has just 34 residential units ranging from 1- to 4-bedrooms. And despite it being a smaller condo compared to others on this list, it also boasts amenities like a lap pool, outdoor gym, and a sun deck.

At the time of writing, all of the 1- and 2-room units have already been sold, leaving only the 3- and 4-room units – including a penthouse – left on the market. Prices at Zyanya start from $1.78M for a 893sqft 3-room condo ($1,994 psf) to $2.18M for a 1,195sqft 4-room unit ($1,832 psf). 

Contact Zyanya’s developer team directly here for more info or to arrange a viewing.

6. Lentor Hills Residences

2023 affordable new condos - Lentor Hills ResidencesImage credit: Lentor Hills Residences

District: 18
TOP date: 2028
Psf price: From $1,834 psf

Not to be confused with Lentor Modern, Lentor Hills Residences is another 99-year leasehold condo that will be sprouting up in the newly formed Lentor estate. It is around the same size as Lentor Modern, albeit marginally smaller with 598 units. Also launched just last week on 8th July, Lentor Hills Residences is set to TOP in 2028. 

Lentor Hills Residences has numerous selling points. For one, it’s nestled amidst a private housing enclave and there won’t be any HDBs built in this area. Hence, this creates the perception that the Lentor estate is positioned to be more atas and private, which helps in raising the ceiling for long-term price appreciation.

As it is not directly connected to the Lentor MRT station, you can expect prices here to be slightly cheaper than Lentor Modern. Based on information we found online, estimates hover around upwards of $1,826 psf, which is affordable considering that it’s just across the road from an MRT station.

Contact the Lentor Hills Residences developer team directly here for more info or to arrange a viewing.

7. The Botany

2023 affordable new condos - The BotanyImage credit: New Condo Launch

District: 23
TOP date: 2027
Psf price: From $1,871 psf

Earlier this year, The Botany at Dairy Farm was launched at an average selling price of $2,070 psf. This makes it one of the more affordable condos in Bukit Timah, though there are trade-offs.

The Botany sold about 48% of its units on its launch weekend. All 36 1-bedder units and 93% of its 104 2-bedder units were sold, and some property watchers attributed this to the fact that The Botany is just next to the German European School, and buyers could be banking on the high rental demand by expats.

Admittedly, The Botany is a little out of the way, and the nearest MRT station, Hillview, is a considerable 10 to 15-minute walk away. Similarly, the nearest shopping centre, Hillion Mall, is a 15-minute trip via bus or 7 minutes via car. 

Overall, while some might find The Botany to be secluded, it has strong potential for a good rate of return if you plan to rent it out. 

Contact The Botany’s developer team directly here for more info or to arrange a viewing.

8. Sceneca Residence

2023 affordable new condos - Sceneca ResidenceImage credit: Singapore Real Estate

District: 16
TOP date: 2026
Psf price: From $1,952

Sceneca Residence, the first condo launched in 2023, is one of the most affordable new condos this year. A 99-year leasehold condo set to TOP in late-2026 or early-2027, Sceneca Residence is yet another mixed-use development located in the East, along New Upper Changi Road.

As it’s just across the road from Tanah Merah MRT, making journeys to places such as Jewel Changi Airport and Paya Lebar via the East-West Line a breeze.

About 60% of units were sold at an average transacted price of $2,072 psf on launch weekend. Of course, that number has changed now. We managed to find a sample of units being listed for sale:

  • A 786 sqft 2-bedder unit being listed for $1.63M ($2,067 psf)
  • A 904 sqft 3-bedder unit being listed for $1.85M ($2,061 psf)

It seems that prices of units so far have stabilised around $2,0xx – $2,1xx psf, which isn’t too far from its original launch price. This is on the higher side for a property located in the Outside of Central Region (OCR). However, property watchers believe that this is simply the new market trend moving forward as more and more homebuyers gravitate away from the city and central region.

Thus, this makes properties like Sceneca Residence quite affordable, and worth considering either for investment purposes or just to live in.
Contact the Sceneca Residence developer team directly here for more info or to arrange a viewing.

9. Mori

Mori affordable condosImage credit: Mori Condominium

District: 14
TOP date: 2026
Psf price: From $1,887

With 85% of the 137 units already snapped up, Mori is shaping up to be one of the most in-demand new condos in District 14. That’s not surprising, considering that the condo was inspired by the idea of wabi-sabi. And we all know how much Singaporeans are obsessed with the concept.

There are myriad bedroom configurations that are available, from 1- to 4-rooms and even ones including a spare guest room or a study room. Of the remaining units available, the most affordable one is the 3-bedroom-and-guestroom configuration that’s priced from $2.21M at a size ranging from 1,023sqft to 1,184sqft (from $1,887).

For that price, you’ll get a sunken social lounge surrounded by 2 pools, a projector lounge on the 2nd floor, an onsen hideaway, and a 23m-long lap pool facing the Singapore Sports Hub.

Contact Mori’s developer team directly here for more info or to arrange a viewing.

10. Sky Eden@Bedok

2023 affordable new condos - Sky Eden@BedokImage credit: Sky Eden

District: 16
TOP date: 2027
Psf price: From $1,937

Another relatively affordable new condo in the East is Sky Eden@Bedok, a 99-year leasehold condo that was launched in September 2022 and set to TOP in 2027.

It is a smaller development compared to the others on this list, with only 158 units up for sale. Over 82% of units have been sold, leaving only a small handful available for purchase. These consist of the larger 4-bedroom units and apartments located on the lower floors.

Sky Eden is located within walking distance of Bedok MRT station – just  3 to 5 minutes on foot. The site sits where the former Bedok Point was located before it got bought over by developers. Fun fact: Sky Eden is the first new condo to be launched in Bedok in over 10 years.

Bedok is well-loved because it is relatively close to many hot spots such as East Coast Park, Marine Parade, and Joo Chiat. It is also set to be a mixed-use development just like many others on this list, with commercial spaces on the ground floor.

Here are the prices of some units listed for sale online:

  • A 592sqft 1-bedder unit listed for $1.25M ($2,111 psf)
  • A 1,087sqft 3-bedder unit listed for $2.22M ($2,043 psf)
  • A 1,302sqft 4-bedder unit listed for $2.63M ($2,023 psf)

Given that its average listed selling prices seem to mirror that of Sceneca Residence quite closely, it reinforces speculations of the growing popularity of living away from central Singapore.

Contact the Sky Eden@Bedok developer team directly here for more info or to arrange a viewing.

11. J’den 

2023 affordable new condos - J'denImage credit: J’den

District: 22
TOP date: 2027
Psf price: TBC

Rounding up our list of the 10 most affordable condos to invest in 2023 is J’den.  This new condo has yet to be launched. J’den will be located exactly where JCube once was; the mall will close in early-August to make way for the condo, which is scheduled to TOP in 2027.

Connectivity will be one of the main highlights of J’den – it will likely be directly linked to the existing Jurong East MRT station, which is an interchange that connects the North-South and East-West lines. Post-2027, there will also be the Jurong Region Line. This will lead to other parts of the West such as Tengah and Choa Chu Kang. 

In addition, there will be a new Jurong East Integrated Transport Hub featuring a bus interchange, commercial spaces, and even a regional library. There are plenty of existing retail and F&B options in the area: JEM, Westgate, and IMM. 

The entire area is set to undergo a massive transformation to become the Jurong Lake District, which the government has dubbed the second CBD in Singapore. Thus, the potential for higher rental yield in the future looks good.

Contact the J’den developer team directly here for more info or to arrange a viewing.

Most affordable new condos to invest in for 2023

When it comes to purchasing a property for investment, most property agents will say that it boils down to a combination of a good location – which is a given – and your entry price. After all, even if you do snag a fantastic location, a high entry price will limit your profit potential or ability to break even.

As such, affordability is still the way to go when assessing whether a property is worth it. In the case of our pick of the top 11 affordable new condos picks, the properties are highly likely to turn a fair profit for buyers.

Read our other condo articles here: 

Cover image adapted from: Lentor Modern, Pasir Ris 8,  New Condo Launch, Singapore Real Estate

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