Yes, the analysis of Singapore's property market is included in our pack
The question of 'the best neighborhood to buy a property in Singapore' does not have a one-size-fits-all answer.
Some of you are buying to live there, while others want to make the best investment possible. Individual preferences and circumstances matter.
That’s why the article below is covering every intent.
At BambooRoutes, when we write a blog post or when we update our our property pack for Singapore, we want to bring solutions and cover different aims in a clear and organized way.
Enjoy the read, and please remember that we are not financial or investment experts. This article is for informational purposes only.
To improve the readability and user-friendliness of this article, we will categorize neighborhoods in Singapore into various groups, including budget-friendly options, emerging hotspots, and areas with high rental demand, among others. Consequently, some neighborhoods may appear in multiple categories and be mentioned several times throughout the article.
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How is the real estate market in Singapore?
The real estate market in Singapore is both dynamic and unique, attracting a diverse range of buyers, including many foreigners.
One of the key strengths of Singapore's real estate market lies in its strategic location and robust economy. Singapore is a global financial hub, providing vast opportunities for business and investment. This aspect alone makes the city highly attractive to professionals and investors seeking to capitalize on its economic vitality.
Singapore is known for its exceptional urban planning and development. The city-state boasts world-class infrastructure, from efficient public transportation to cutting-edge technology, making it an ideal place to live and work. This level of development is unparalleled and contributes significantly to the allure of owning property here.
The types of people looking to buy in Singapore are varied. They range from expatriates and international business people to local professionals and investors. The city's safe environment, high quality of life, and multicultural society make it particularly appealing to expatriates.
Additionally, the education system in Singapore is highly regarded, drawing families who prioritize top-tier schooling for their children.
Foreign interest in Singapore's real estate is high due to the city-state's political stability, transparent legal system, and favorable tax policies. These factors create a conducive environment for investment, reassuring foreign buyers of the security and potential returns on their investments.
Speaking of the market's dynamism, one notable data point is the consistent rise in property prices over the years, despite various global economic fluctuations. This trend indicates a resilient and growing market, bolstered by strong demand and limited land availability.
A unique and positive aspect specific to Singapore's properties is the concept of integrated developments.
These are multi-use complexes that combine residential living with amenities like shopping malls, offices, and public transport hubs, all in one location. This innovative approach to urban living is not commonly found elsewhere and adds immense value to properties in Singapore.
Looking to the future, properties in Singapore are expected to gain value due to several factors. The government's continuous investment in infrastructure and public amenities ensures that the city remains cutting-edge and livable.
Moreover, Singapore's ongoing efforts to position itself as a green and sustainable city are likely to enhance its global appeal further. The city's strategic initiatives in sectors like technology and finance promise sustained economic growth, which, in turn, will continue to drive demand in the real estate market.
Top neighborhoods in Singapore to consider for living
Areas in Singapore that are budget-friendly
If you're looking to buy property in Singapore on a budget, there are a few neighborhoods you might want to consider.
Here is a summary table. Below, we will give more details.
| Neighborhood | Average Price per sqm | Property Types | Resident Demographics | Strengths | Weaknesses |
|---|---|---|---|---|---|
| Woodlands | S$3,500 - S$4,500 | HDB flats, private condos | Families, commuters to Malaysia | Upcoming RTS link, affordable | Far from CBD, longer commutes |
| Punggol | S$4,000 - S$5,000 | BTO flats, executive condominiums | Young couples, families | New developments, waterfront living | Still under development |
| Choa Chu Kang | S$3,500 - S$4,500 | HDB flats, private condos | Mixed resident demographics | Suburban environment, Jurong Region Line | Less central, fewer amenities |
Woodlands
This is located in the northern part of Singapore, right next to Malaysia.
It's known for being affordable because it's quite a distance from the central business district, making it less in demand compared to central areas. But, the property values here might see a rise due to the upcoming developments like the Rapid Transit System link to Johor Bahru, Malaysia.
You can find a mix of HDB flats and private condos in Woodlands, and the average price per square meter tends to be significantly lower than in the central regions, perhaps around S$3,500 to S$4,500 per square meter.
The area is popular among families and individuals who appreciate the lower cost of living and don't mind a longer commute.
Punggol
Once a sleepy area, Punggol is becoming increasingly popular for its new HDB developments and waterfront living.
Prices here are reasonable because it's still under development and not fully matured as a residential estate. However, with the government's plans to transform Punggol into a Digital District, along with new public transport links and amenities, property values are expected to go up.
You'll find a lot of new BTO (Build-To-Order) flats and some executive condominiums in Punggol, with prices averaging between S$4,000 to S$5,000 per square meter.
The residents are usually young couples and families, drawn by the newness of the buildings and the promise of future growth.
Choa Chu Kang
This neighborhood, found in the West, is known for its more affordable properties, many of which are HDB flats with some private condominiums.
It's cheaper due to its relative distance from the city center and fewer immediate amenities compared to more central areas. The region could see property values rise with the completion of the Jurong Region Line, enhancing connectivity.
Prices in Choa Chu Kang also hover in the S$3,500 to S$4,500 per square meter range.
Choa Chu Kang is a diverse area, home to a mix of residents, including many families who appreciate the suburban environment.
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Areas in Singapore that are popular and upscale
When looking to buy property in Singapore, three neighborhoods stand out as upscale and popular choices. These neighborhoods each have their unique character and draw different types of residents.
| Neighborhood | Average Price/Sqm | Resident Profile | Strengths | Weaknesses |
|---|---|---|---|---|
| Orchard Road | SGD 30,000 | Affluent locals and expats | Vibrant lifestyle, shopping | High costs, crowds |
| Sentosa Cove | SGD 25,000 | Business tycoons, celebrities | Privacy, scenic views | Isolation, maintenance costs |
| Tanglin | SGD 28,000 | Wealthy families, expatriates | Greenery, exclusivity | Limited nightlife/dining |
Orchard Road
Orchard Road is synonymous with luxury in Singapore.
This area is costly due to its prime location, high-end shopping malls, and accessibility to central business districts. The properties in Orchard Road are predominantly high-rise apartments and condominiums, with an average price per square meter around SGD 30,000. Residents are typically affluent, including both local and expatriate professionals.
The area's strengths lie in its vibrant lifestyle, shopping, and entertainment options. However, its weaknesses include high living costs and potentially overwhelming crowds, especially during peak shopping seasons.
While it remains a coveted area, the high prices may limit its long-term hype to those who can afford the luxury.
Sentosa Cove
Located on the exclusive Sentosa Island, Sentosa Cove is a haven for the wealthy, offering luxury waterfront living.
Properties in Sentosa Cove range from high-end condos to opulent bungalows, with prices averaging SGD 25,000 per square meter. This area attracts affluent individuals, including business tycoons and celebrities, drawn by its privacy, security, and scenic views.
Strengths include its tranquil environment, exclusive facilities, and unique status as the only place in Singapore where foreigners can buy landed property.
However, the isolation from the mainland and high maintenance costs are potential drawbacks. Its appeal is expected to remain high, catering to a niche market of luxury seekers.
Tanglin
Tanglin, a prestigious residential area, offers a mix of old and modern properties, including colonial houses and contemporary condos, with an average price of SGD 28,000 per square meter.
It's popular among well-to-do families and expatriates, offering a quieter lifestyle while still being close to the city center.
The area's strengths are its greenery, exclusivity, and proximity to top international schools. Weaknesses include limited nightlife and dining options, and high property prices.
Tanglin's appeal as an upscale neighborhood is likely to persist, appealing to those seeking a balance between city life and serene living.
Make sure you understand the real estate market in Singapore
Don't rush into buying the wrong property in Singapore. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
Areas in Singapore that emerge as new hotspots
Let's explore these emerging neighborhoods in Singapore that, according to our local partners and our customers, are getting quite a bit of buzz lately.
| Neighborhood | Average Price/Sqm | Resident Profile | Strengths | Weaknesses |
|---|---|---|---|---|
| Tiong Bahru | SGD 18,000 | Young, creative crowd | Heritage charm, community | Limited space, older infrastructure |
| Geylang | SGD 15,000 | Young professionals, investors | Cultural diversity, food scene | Reputation, busy environment |
| Punggol | SGD 12,000 | Families, eco-conscious individuals | Green living, modern amenities | Distance from city, fewer entertainment options |
Tiong Bahru
Initially a residential area with old Art Deco-style apartments, Tiong Bahru has transformed into a trendy hotspot, blending heritage with modernity.
Its recent evolution includes chic cafes, boutique stores, and an artsy vibe, attracting a younger, creative crowd. Prices in Tiong Bahru are more affordable compared to traditional upscale areas, with an average of around SGD 18,000 per square meter.
The area's strengths lie in its unique blend of old-world charm and contemporary lifestyle, along with a strong sense of community. However, the limited space and older infrastructure can be drawbacks.
Tiong Bahru's popularity is expected to grow as it becomes an increasingly desirable alternative to mainstream luxury areas, appealing to those who appreciate its blend of history and modernity.
Geylang
Geylang, once known for its colorful nightlife, is emerging as a residential favorite due to its affordability and proximity to the city center.
The area has evolved with the introduction of new residential developments and a growing food scene. Properties in Geylang are relatively more affordable, averaging SGD 15,000 per square meter.
Geylang's appeal lies in its cultural diversity, vibrant food scene, and connectivity. However, its reputation and bustling environment might not appeal to everyone.
The area is likely to continue gaining popularity among those looking for value-for-money properties close to the city, especially among young professionals and investors.
Punggol
Punggol, a newer residential town in Singapore, is becoming popular for its waterfront living and eco-friendly developments.
Initially a rural area, it has seen significant development with modern public housing, shopping malls, and green spaces. Properties are priced lower in Punggol, around SGD 12,000 per square meter.
Its strengths include modern amenities, green living, and family-friendly environments. Weaknesses might be its distance from the city center and fewer entertainment options.
Punggol's popularity is set to rise, especially among young families and those who prioritize sustainable living.
Make a profitable investment in Singapore
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Top neighborhoods in Singapore to invest in property
Areas in Singapore with a strong rental demand
If you're considering buying real estate in Singapore for renting it out, these neighborhoods with high demand for rentals should be considered.
| Neighborhood | Target Tenants | Property Type | Average Rent (S$) | Rental Yield (%) | Tips | Weaknesses |
|---|---|---|---|---|---|---|
| Orchard | High-income expats, senior management | High-end condos, serviced apartments | 4,000 - 6,000 | 2 - 3 | Modern amenities, maintenance | High property prices, competition |
| Tanjong Pagar | Young professionals | One or two-bedroom condos | 3,500 - 5,000 | 2 - 3.5 | Unique features, near MRT | Oversupply, nightlife noise |
| Jurong East | Families, expatriates | Three-bedroom condos | 2,500 - 4,000 | 3 - 4 | Near schools or malls | Distance from center, oversupply risk |
Orchard
Orchard is a prime spot for high-income expatriates, especially those in senior management roles or the finance sector.
The area's appeal lies in its proximity to the central business district and luxury shopping malls, making it a hub for affluent tenants. Properties in Orchard are predominantly high-end condos and serviced apartments.
Rental incomes for a two-bedroom condo in Orchard can average around S$4,000 to S$6,000 per month, with a rental yield of approximately 2-3%. To maximize rental income, focus on well-maintained properties with modern amenities.
However, be aware that high property prices can impact overall yield and there’s stiff competition among landlords.
Tanjong Pagar
This area attracts young professionals due to its blend of modern living and cultural heritage.
Close to the central business district, it offers convenience for those working there. The demand is mainly for one or two-bedroom condos in Tanjong Pagar, with monthly rents ranging from S$3,500 to S$5,000, yielding about 2-3.5%.
Properties in Tanjong Pagar with unique features or proximity to MRT stations are particularly attractive.
The downsides include potential oversupply of condos and noise from nightlife activities.
Jurong East
Jurong East is popular among families and expatriates working in the nearby business parks and educational institutions.
It offers more spacious and affordable housing options compared to the city center. A three-bedroom condo in Jurong East can fetch about S$2,500 to S$4,000 per month, with a rental yield of around 3-4%.
Properties near schools or malls in Jurong East are particularly desirable.
However, the distance from the city center might be a drawback for some tenants, and there's a risk of oversupply due to ongoing developments.
Don't lose money on your property in Singapore
100% of people who have lost money in Singapore have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Areas in Singapore where property prices might increase in the future
In these areas in in Singapore you can still find properties at a reasonable price, with room for appreciation as the neighborhoods develop.
| Neighborhood | Target Tenants | Property Type | Average Price/Night (S$) | Tips | Weaknesses |
|---|---|---|---|---|---|
| Marina Bay | Tourists, business travelers | Serviced apartments, condos | 250 - 400 | Unique views, exclusive facilities | High investment, competition from hotels |
| Clarke Quay | Younger travelers | Studio or one-bedroom apartments | 150 - 250 | Access to nightlife, transport | Noise, seasonal demand fluctuation |
| Sentosa | Tourists, families | Luxury villas, high-end condos | 350 - 600 | Sea views, near attractions | Limited audience, high maintenance |
Marina Bay
Marina Bay is a top choice for tourists and business travelers seeking short-term stays.
Its appeal lies in its stunning cityscape views, luxury accommodation, and proximity to key attractions and business areas. Properties in demand are high-end serviced apartments or condos in Marina Bay, with amenities like swimming pools and gyms.
The average price per night in Marina Bay can range from S$250 to S$400. To attract more guests, focus on properties with unique views or exclusive facilities.
The challenge in Marina Bay is the high initial investment and competition from luxury hotels.
Clarke Quay
Popular among younger travelers and those seeking vibrant nightlife, Clarke Quay is ideal for short-term rentals due to its lively atmosphere and central location.
Demand is for studio or one-bedroom apartments in Clarke Quay, with average nightly rates of S$150 to S$250.
Properties with easy access to nightlife spots and public transportation in Clarke Quay are preferable.
However, the area can be noisy at night, which might not appeal to all tenants, and there's a seasonal fluctuation in demand.
Sentosa
Sentosa is a haven for tourists looking for a resort experience.
Rental properties in Sentosa are mostly luxury villas or high-end condos, catering to families or groups. The average nightly rate is around S$350 to S$600.
Properties with sea views or proximity to attractions like Universal Studios in Sentosa are highly sought after.
The drawback is the limited audience (mostly tourists) and higher maintenance costs due to the luxurious nature of properties.
Make sure you understand the real estate market in Singapore
Don't rush into buying the wrong property in Singapore. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.