Condos In Central Singapore You Can Purchase At Under $1,000 psf

Prices of private homes in the Central Region have risen exponentially over the past 10 years.
Based on our previous research, prices of new launches in the area have increased by about 55% between 2008 and 2018. Meanwhile, resale condos in the region rose by roughly 68% between 2008 and 2018.
The rise in home prices will no doubt impact housing affordability for some, especially with the latest round of property cooling measures
Last year, the government acted to cool the red hot residential property market by introducing higher Additional Buyer’s Stamp Duty (ABSD) rates for some categories of residential property purchases. Meanwhile, Loan-to-Value (LTV) limits were lowered, all with effect from 6 July 2018.
Singaporeans buying their second property will now have to pay 12% ABSD, up from the previous 7%. Meanwhile, Singapore permanent residents will now have to pay an ABSD of 15%, up from the previous 10%, when they purchase a second residential property.
Unfortunately, the confluence of these factors will make owning a home in SIngapore increasingly challenging for some. The good news is, we managed to sift out a number of properties that you may still be able to purchase for under $1,000 psf. Even better, they are located within the Central Region and many of these projects are located near MRT stations.
Based on sales transactions that occurred between January 2018 and February 2019, below are some of our top picks:
Most Affordable Condos in Central Singapore In 2019
=======>>>>>>> 0097434a87f6329e5cebbffbcc39f5150d6102ec
Source: EdgeProp.sg, URA
Older condos’ size and lower psf price becoming increasingly attractive to homebuyers
Based on our observation, the latest property cooling measures could have sparked interest in older, more affordable homes in the resale market.
One reason for this is because older condos tend to have larger unit sizes and a more spacious living area, Jacqueline Wong, Savills Singapore head of residential services and private office, told EdgeProp in a previous interview.
=======>>>>>>> 0097434a87f6329e5cebbffbcc39f5150d6102ec
The Arcadia, one of the residential projects on our list, is located close to educational facilities such as Raffles Girls Primary School, Nanyang Girls High School and Hwa Chong Institution.