How Much Does a Small Condo Cost in Singapore?

Owning a condo in Singapore is a big dream. But, the high price can scare first-time buyers. The latest info shows a condo there costs around S$1,450,000. This price includes a property tax called Buyer’s Stamp Duty (BSD). Total expenses for a S$1,450,000 condo reach S$1,492,600.

This article will explain the costs of buying a condo in Singapore. It covers downpayment needs, loan rules, and extra fees. Knowing about the Singapore condo market helps make a smart choice for your real estate investment in Singapore.

Understanding the Cost of Condos in Singapore

Location and Regionality

Condo prices in Singapore greatly depend on where they are. In the Outside Central Region (OCR), you can find them for S$900,000 to S$1,500,000. In the Rest of Central Region (RCR), prices go up to S$3,000,000 for a 3-bedroom unit. The Core Central Region (CCR) has luxury condos that can cost over S$2,500,000.

Size and Unit Type

For this talk, let’s look at 3-bedroom condos. They’re great for young couples and families who are HDB upgraders.

Freehold vs. Leasehold

In the OCR and RCR, older condos are more affordable. But, freehold condos around the Central Business District (CBD) cost more.

Key Takeaways

  • The median cost of buying a condominium in Singapore is S$1,450,000, including the Buyer’s Stamp Duty (BSD).
  • Condo prices in Singapore vary widely based on location, with the Outside Central Region (OCR) being the most affordable.
  • The size and unit type of a condo, as well as whether it is freehold or leasehold, can also significantly impact the price.
  • First-time condo buyers in Singapore need to carefully consider their budget and financing options to make an informed purchase decision.
  • Tools like the DBS MyHome planning tool can help buyers navigate the home-buying process and understand their financial capabilities.

Understanding the Cost of Condos in Singapore

The singapore condo market is very alive and full of variety. Prices for condos across Singapore differ a lot. This is due to many factors like the area and type of condo. Knowing more about singapore property prices and singapore real estate trends helps understand these differences.

Location and Regionality

Where a condo is matters a lot in its price in Singapore. Condos in the Outside Central Region (OCR) are usually the cheapest. A 3-bedroom unit can cost between S$900,000 and S$1,500,000 there. In the Rest of Central Region (RCR), these condos are pricier, ranging from S$1,500,000 to S$3,000,000. The Core Central Region (CCR) is known for luxury. Here, 3-bedroom units start at S$2,500,000.

Size and Unit Type

The condo’s size and type affect its price a lot. We’re looking at 3-bedroom units which are great for families or couples buying their first home.

Freehold vs. Leasehold

In the OCR and RCR, older leasehold units are cheaper. But if they are freehold or closer to the Central Business District (CBD), they’re more expensive.

How much does a small condo cost in Singapore?

In Singapore, the price of a condo can vary a lot by location. The cost depends on where the building is. Prices across different parts of Singapore vary widely.

Outside Central Region (OCR) Prices

In the Outside Central Region (OCR), you’ll find the most affordable condos in Singapore. A 3-bedroom unit here can be bought for between S$900,000 to S$1.5 million. The older and leasehold condo choices are the cheapest.

Rest of Central Region (RCR) Prices

Moving to the Rest of Central Region (RCR), prices for a 3-bedroom condo in Singapore go up. They range from S$1.5 million to S$3 million. Areas like Aljunied, Paya Lebar, and Geylang are more affordable.

City fringe condos are near the Central Business District (CBD). They can cost over S$2 million.

Core Central Region (CCR) Prices

The Core Central Region (CCR) features Singapore’s luxury real estate and high-end property. Here, a smaller 3-bedroom condo might start below S$3 million. But most are even more expensive. The quote “when it comes to premium living, the sky’s the limit!” rings true here.

Factors Affecting Condo Affordability

Buying a condo in Singapore involves several important factors. These influence how affordable the investment is. This is important for both first-time condo buyers and those with more experience.

Down Payment Requirements

When buying a condo in Singapore, the down payment is key. People can use a bank loan, but they must pay 25% upfront. This includes 5% in cash and 20% through their CPF or with cash.

Loan Eligibility and Interest Rates

Buyers can get a loan for up to 75% of the condo’s value. The loan amount they can get depends on their credit. For a S$1,450,000 condo, this could mean a loan of S$1,087,500. They would then pay about S$5,444 each month for 25 years, with a 3.50% interest rate.

Additional Costs and Fees

Besides the condo price and down payment, there are other costs. For instance, the Buyer’s Stamp Duty (BSD) must be paid. This property tax can be from 1% to 4% of the property’s value, depending on the cost.

Cost FactorDetails
Down Payment25% of property value (5% cash, 20% CPF/cash)
Loan Amount75% of property value
Buyer’s Stamp Duty (BSD)1% to 4% of property value
Mortgage Interest Rates3.50% per annum (example)
Loan Tenure25 years (example)

Planning and Budgeting for a Condo Purchase

Buying a condo in Singapore means serious planning and budgeting. You have to figure out the most you can borrow, how much your mortgage will be, and ensure you have the down payment and extra costs covered.

The DBS MyHome planning tool is very useful for this. It helps you understand what you can afford and plan your Singapore real estate purchase.

Key ConsiderationsDetails
Loan EligibilityFigure out what loan amount you can get. This is based on your income, credit score, and more.
Monthly RepaymentsKnow your monthly mortgage payments. You’ll calculate this based on the loan, interest rate, and how long the loan lasts.
Down PaymentMake sure you have the down payment ready. You need 25%, 5% must be cash, and the other 20% can come from CPF or cash.
Additional CostsDon’t forget extra expenses like the Buyer’s Stamp Duty, legal fees, and maybe renovation costs.

The DBS MyHome tool and careful financial planning can turn your dream of owning a condo in Singapore into a real goal. It’s all about a solid strategy.


Owning a condo in Singapore might feel scary for first-timers. Yet, many dream of it. The DBS Property Marketplace helps folks through the condo market. They offer tools for planning, budgeting, and financial help. These make buying a condo more real for many.

The Singapore market keeps changing. It’s smart for buyers and investors to keep up. Things like where the condo is, its size, and ownership type really matter. First-time buyers need to know the details. They can then make choices that fit their budget and lifestyle.

To own a condo in Singapore, do your homework. Plan your money well. And have a smart real estate strategy. With these steps, buying your first condo can be smoother. Take advantage of help and be diligent. This can make your home dream come true.


How much does a small condo cost in Singapore?

Condominiums in Singapore typically cost around S$1,450,000. This price includes the Buyer’s Stamp Duty. In total, buying a condo at this price will be about S$1,492,600 after other fees.

How do condo prices vary in different regions of Singapore?

Prices for condos in Singapore change based on where they are. In the outside areas (OCR), you might find a 3-bedroom place for S$900,000 to S$1,500,000. For the rest of the central area (RCR), they could be between S$1,500,000 and S$3,000,000.

In the Core Central Region (CCR), luxury condos are more common. Here, 3-bedroom units start at S$2,500,000.

What factors affect the affordability of condos in Singapore?

The size and type of condo, along with loan rules and down payment requirements, impact the price. Other fees like the Buyer’s Stamp Duty add to the cost too.

What are the down payment requirements for purchasing a condo in Singapore?

In Singapore, to buy a condo, you must make a down payment. A bank loan can cover 75% of the cost. Buyers must pay the remaining 25% themselves.

Five percent of this down payment must be in cash. The other 20% can come from CPF funds or more cash.

How can buyers plan and budget for a condo purchase in Singapore?

To buy a condo, it’s key to plan your finances carefully. First, figure out your loan and monthly repayment amounts. Make sure you have enough for the down payment and other costs too.

Using the DBS MyHome planning tool can help. It guides buyers through the home-buying process and shows what they can afford.