Dear readers, in today’s challenging real estate market, finding condominiums priced below $1 million can seem like an uphill battle. With soaring property prices and high demand in many urban areas, the search for affordable housing options has become increasingly daunting. However, it is still possible to uncover hidden gems in the resale condominium market, where units are occasionally sold for under a million dollars. In early March 2025, I came across six noteworthy condominium units that were sold for less than $1 million each, which I would like to share with you.
Two of the featured condominiums are particularly compact, showcasing the trend of smaller living spaces that cater to a variety of buyers, from young professionals to investors seeking rental opportunities. Here are the details of these properties:
- Parc Imperial (District 5): A snug 398 square foot unit sold on March 7, 2025, for $788,000. This transaction resulted in an impressive selling price of $1,979 per square foot, highlighting the premium that buyers are willing to pay for smaller, well-located units in desirable districts.
- Jool Suites (District 8): Another petite offering, this 409 square foot unit was also sold on March 7, 2025, for a price of $735,000. This sale translates into a selling price of $1,797 per square foot, indicating a strong demand for small condominiums in the central areas of the city.
Moving on to slightly larger condominiums, we have three units sold in the vibrant Geylang area, each boasting more than 500 square feet of living space. These properties demonstrate a growing interest in the Geylang district, which is known for its diverse cultural offerings and convenient transportation options. Here are the details of these larger units:
- The Octlet (District 14): This 506 square foot unit was sold on March 6, 2025, for $720,000, resulting in a selling price of $1,423 per square foot. The Octlet, located in Geylang Lorong 24, presents an affordable option for buyers who want to enjoy the amenities of city living without breaking the bank.
- Guillemard Edge (District 14): In contrast, a 538 square foot unit in the same district was sold on March 6, 2025, for $962,000, translating to a higher selling price of $1,787 per square foot. The premium price could be attributed to its modern amenities and attractive design, making it a desirable choice for buyers looking for contemporary living spaces.
- Pavillion Square (District 14): Another unit in Geylang, this 657 square foot condominium sold on March 7, 2025, for $970,000, equating to a selling price of $1,477 per square foot. This unit offers a slightly larger living area while still maintaining an appealing price point for potential buyers.
Among these six condominiums, one stands out for its impressive size and affordability relative to its price per square foot.
- Prestige Heights (District 12): This 1,023 square foot unit was sold on March 10, 2025, for $988,000, resulting in a modest selling price of $966 per square foot. This property offers a spacious living environment that appeals to families and individuals looking for comfort without the premium costs typically associated with larger units in prime locations.
The variation in prices per square foot across these condominiums underscores the market dynamics at play in different districts, as well as the importance of location, amenities, and overall demand. For instance, the Guillemard Edge unit achieved a higher per square foot price compared to The Octlet, despite being in the same area. This disparity can be attributed to factors such as the quality of the build, the reputation of the developer, and the specific amenities offered.
In conclusion, while the search for affordable condominiums under $1 million can be challenging, the sales reported in early March 2025 reveal that opportunities still exist. Whether you are a first-time buyer, an investor, or someone looking to downsize, these six freehold condominiums provide a glimpse into the potential for finding value in today’s real estate market.