With around 10,000 private residential units expected to be completed by this year, and the private rental market continuing to remain weak, it is definitely a renter’s market right now.
If you are on the market for a 2- or 3-bedroom unit, there are bargains to be had.
A search on this site yielded more than 1,300 2- and 3-room apartments going for $2,500 or less.
Narrowing down our search, we focused on newer developments that received their TOPs within the last five years. The properties are also close to public transport and lifestyle amenities.
Given the prevalence of shoebox units, we also took into consideration the amount of living space. None of the apartments featured here are less than 70 sqm (750 sq. ft.) – a comfortable size for two or three persons.
The Gale – District 17 (Loyang)
The Gale is a 329-unit condominium that received its TOP in 2013.
The property is a boon for those working in the vicinity, which is home to many aviation, engineering, logistics, and technology companies.
Nearby Changi Village, Tampines Central and the soon-to-open Jewel Changi Airport offer a host of dining, entertainment and shopping options.
According to the latest rental transactions, 2-bedders can go for as low as $1,900, reaching a maximum of $2,400 per month.
Ripple Bay – District 18 (Pasir Ris)
At between 700 and 800 sq. ft., the 2-bedders in this development are fairly generously-sized. The amenities, too, are more than decent.
The property offers a resort lifestyle, with two pools, a beach volleyball court and a hammock area to relax in. Two streets away is Pasir Ris Park, with its BBQ pits, campsites, mangrove boardwalks and even a bird-watching tower.
Pasir Ris MRT is a five-minute drive away. There are plenty of entertainment and dining options in the adjacent mall – White Sands – as well as nearby Downtown East.
A quick check on the property’s latest rental transactions shows that rents range from $1,800 to $2,000 per month.
Spazio @ Kovan – District 19 (Hougang)
Located between Kovan and Serangoon MRTs, along the major thoroughfare of Upper Serangoon Road, Spazio @ Kovan was completed in 2016.
Nearby are schools (DPS International School; Paya Lebar Methodist Girls’ Secondary), supermarkets (ColdStorage; FairPrice; Prime) and malls (Heartland Mall; Nex).
Analysis of the property’s most recent rentals reveal monthly figures of between $1,800 and $2,300, depending on the size of the unit.
Boathouse Residences – District 19 (Hougang)
Further along Upper Serangoon Road, we find Boathouse Residences, a massive 493-unit development that overlooks the Serangoon River.
If you like the outdoors, the Serangoon Park Connector is virtually at your doorstep, while Punggol Park is a three-minute stroll away.
A free shuttle bus transports you to Hougang MRT. If you drive, the nearby KPE and TPE provide connectivity to the rest of the island.
Looking at the property’s latest rental figures, we find rents for 3-bedroom apartments to be close to or just on the $2,500 mark.
Riversound Residence – District 19 (Sengkang)
A short distance from Boathouse Residences is Riversound Residence, another mega-development with 590 units that was completed in 2015.
The property has the same conveniences as Boathouse Residences, with the added advantage of being a three-minute walk from Kangkar LRT station.
Average monthly rentals for 3-bedders here span from $2,250 to just over $2,500 – $2,550 – according to the latest rental transactions.
Palm Isles – District 17 (Loyang)
If you work in Changi Airport, Changi Business Park or Tampines, chances are you are already familiar with the Flora precinct of Loyang.
This area, bounded by the TPE, Upper Changi Road North and Old Tampines Road, is home to a cluster of condominiums, including new builds like Palm Isles.
The property was completed in 2015. A 3-bedder here costs around $2,000 to $2,200 to rent per month, based on the most recent transactions.