The average cost to buy a house in Singapore is $1.2 million dollars, but that doesn’t mean you can’t afford one. In fact, there are many houses for sale at prices below the average! All it takes is some research and creativity to find your dream home without breaking the bank. Here’s what to do:
The cost of buying a house in Singapore depends on the type of property you’re looking for:
– If you want a condominium, it’ll cost at least $2 million dollars for a decent one. But if you have a smaller budget, focus on buying a resale unit. You can find quite a few bargains in the market right now.
– A landed house will be about $1.6 million dollars – at least $1 million if you want to buy a decent one. But again, there are some bargains out there.
– Rowhouse will cost at least $1 million dollars, maybe, even more, depending on the location and size of the unit.
Few Points to keep in mind before buying a house
- The larger the budget you have for buying your home in Singapore, the wider your choices will be.
- Asking your friends and family for recommendations is the best way to get started. Chances are they know someone who’s selling his or her property at a bargain price, or maybe even knows of some real estate agents like parc clematis with good deals in their listings! But make sure to check out any potential properties yourself before making an offer.
- The resale market is the best place to find a property for less than $1 million dollars in Singapore. However, you have to keep your eyes open because some resale units advertised at very low prices are not such good deals and could cost more than the original asking price later on.
- You can also get a good deal if you’re willing to move out of the city center. For example, in Sengkang, the average resale flat costs about $400 thousand dollars or less – that’s less than half the price of other properties located closer to town.
- Buying a condo unit is an option too. First-hand condos are cheaper than resale condos, so if you find a good deal, go for it. The only downside is that buying the first-hand condo means getting less financial help from the government.
- Finally, remember that the price of your property in Singapore has less to do with its size or location and more to do with how much people are willing to pay for it.
Additional Pricing Tips
- If you want to buy an apartment, expect to spend at least $500k-$750k
- For a terrace house, expect to spend at least $700k-$1 million
- And if you want to buy a bungalow, plan on spending upwards of $1 million and up
- For the most value, consider staying in central Singapore where prices are higher
- According to experts, you can buy a home in an outer-ring suburb for $400k-$800k
- To get the lowest price for your new property in Singapore, look at Sengkang or Punggol. These suburbs are close to downtown and provide pretty good value for money.
- For a better chance of getting the property, you love at a more affordable price, decide on your budget before you even begin your search.
For example, if you’re looking for a condo and have a budget of $500k-$750k, focus on buying a resale unit instead of an apartment or a terrace house. In this case, shopping around is the best way to get the most space for your money.
Planning to buy a house in Singapore? Put some time and effort into your search, and you can find a great property for $1 million dollars or less. Just follow the tips we’ve given you, and soon enough it’ll be your turn to say: “This is my home!”
There are still many affordable flats in Singapore. But they are usually smaller and located further away from the city center. Properties that can be found at prices lower than $1 million dollars tend to go quickly, so do your research and you should find something that suits your needs and budget soon enough.
You can also choose to buy a first-hand condo in Singapore. Just make sure you do your research. There are some really good deals available, but there are also scammers out there who will try to take advantage of you.