An upgrade doesn’t really feel like one, if you end up having to squeeze into a smaller home than your previous flat.

So it’s not surprising that HDB upgraders almost always want at least a three-bedder; and it may even be a wiser choice, when it comes to future gains. But with new launch three-bedders breaking the $2 million mark, it’s definitely worth taking a look at resale options. Here, we rounded up the most affordable ones:

Most affordable resale three-bedders in 2023:

Source: URA

*We're including Changi Rise as a special mention. For Changi Rise, the size of the study is quite large, and comparable to that of a full bedroom.

1. Central Imperial

Location: 3 Lorong 14 Geylang (District 14) 

Developer: G28 Development Pte. Ltd.

TOP: 2014

Lease: Freehold

Number of units: 63

For those who don't mind an extremely urban condo, Central Imperial is in an accessible and convenient location: it's within the heart of the Geylang area, near foodie outlets like Mongkok Dim Sum and 333 Kitchen. Most of these eateries are open around the clock, so you have no end of supper places to choose from.

From this condo, it's a long-ish but still manageable walk to Aljunied MRT (EWL). This is one stop away from Paya Lebar Quarter (PLQ), which is a major commercial hub with multiple malls, Grade A offices, and other entertainment. We'd peg this as one of the key advantages of living in the Geylang area.

The downside is that, aesthetically, Central Imperial will never come out on top. It's smack in the middle of a busy area with almost no greenery; and traffic noise and congestion are unavoidable. And while it's outside of the red light area, some buyers will never be comfortable with the proximity. 

As such, this is a project for those who value no-frills convenience over a nice view, or park spaces. It's also viable as a rental asset, as proximity to PLQ makes it convenient for tenants (and we last wrote about it as a positive cash flow rental property in 2021). What particularly stands out are the 24/7 convenience stores, minimarts, and food joints, which are perfect for night owls and night-shift workers. 

In a twist, we wouldn't recommend this project for drivers, as manoeuvring your car around the Geylang Lorong's is a major pain. Take advantage of the excellent train and bus connections in the area; with this part of Geylang, it's often easier to walk around the neighbourhood.

Disclaimer: This is officially titled as a 2+guest room, but depending on the buyer's profile, this could still be considered a three-bedroom given it has windows and the layout is still functional.

Transactions

Project Name	Transacted Price ($)	Area (SQFT)	Unit Price ($ PSF)	Sale Date
CENTRAL IMPERIAL	$830,000	603	$1,377	22-May-23
CENTRAL IMPERIAL	$720,000	603	$1,194	13-Jan-22
CENTRAL IMPERIAL	$560,790	603	$930	18-Aug-21
CENTRAL IMPERIAL	$755,000	603	$1,253	24-Jan-13
CENTRAL IMPERIAL	$716,967	603	$1,189	14-Dec-12
CENTRAL IMPERIAL	$735,100	603	$1,220	7-Dec-12
CENTRAL IMPERIAL	$638,000	603	$1,058	11-Jun-12
CENTRAL IMPERIAL	$634,959	603	$1,053	23-Dec-11
CENTRAL IMPERIAL	$633,150	603	$1,050	22-Nov-11

Source: URA

2. Spottiswoode Park

Location: 101 Spottiswoode Park Road (District 2) 

Developer: Unknown

TOP: 1970

Lease: Mixed

Number of units: 340

A frequent appearance on these lists, Spottiswoode Park is one of the oldest projects in Singapore (it dates back to 1970). It is also widely known as one of the most affordable places to live and rent in the Chinatown area — if People’s Park Complex finally manages to go en-bloc, Spottiswoode will likely be the next most popular accommodation (for the price sensitive.)

There is a well-developed HDB estate next to Spottiswoode, which provides most day-to-day amenities like coffee shops, minimarts, salons, etc. This project is also adjacent to the Tanjong Pagar area, where you’ll find malls like 100 AM or Tanjong Pagar Plaza. 

Outram Park MRT (EWL, NEL, TEL) is a bit far but still within walking distance; from here it’s quite easy to get to Orchard or Raffles, so this is a very central location. Alternatively, Cantonment MRT — which will be up in 2026 — will provide much quicker access to the CCL. 

Barring some exceptions – such as families where most members work in the CBD – Spottiswoode tends to be of more interest to landlords. The proximity to both Singapore General Hospital, plus Tanjong Pagar, makes this one of the most rentable properties on the list. That’s not to say it’s out of the question for families though, as the 850 to 1,300 sq ft units are spacious, and will appeal to those looking at own-stay use. 

Transactions

Project Name	Transacted Price ($)	Area (SQFT)	Unit Price ($ PSF)	Sale Date
SPOTTISWOODE PARK	$938,888	850	$1,104	21-Jul-23
SPOTTISWOODE PARK	$880,000	850	$1,035	21-Jul-23
SPOTTISWOODE PARK	$918,000	850	$1,080	31-May-23
SPOTTISWOODE PARK	$938,888	850	$1,104	24-Apr-23
SPOTTISWOODE PARK	$955,000	850	$1,123	31-Mar-23

Source: URA. Last five transactions

3. Floraview

Location: 1 Ang Mo Kio Street 66 (District 20)

Developer: Oxley YCK Pte. Ltd.

TOP: 2017

Lease: Freehold

Number of units: 90

If you want to live within a low-density (landed) area, without the crazy prices that usually entails, Floraview may be your best bet. This is a small freehold project (just 90 units) with a lot of privacy, and it's mainly surrounded by landed housing around the Cactus Road area.

This is one of the quieter parts of Singapore; even the amenities feel quite exclusive and private: a bakery, a cafe, a small supermarket, etc. that's mostly just frequented by Floraville residents, and the nearby landed homes. 

The natural downside to this privacy is the isolation that comes with it. Like most landed areas, there is no MRT station or mall nearby (Yio Chu Kang is the nearest); nor would most residents here want such things. It's largely expected that those living here will drive. 

As an aside, ST Engineering, along with other tech firms, have a substantial presence nearby (across from Ang Mo Kio Street 65), so those who work there might find Floraview an alternative to pricey landed homes.

Transactions

Project Name	Transacted Price ($)	Area (SQFT)	Unit Price ($ PSF)	Sale Date
FLORAVIEW	$888,000	732	1,213	31-Mar-23
FLORAVIEW	$896,200	732	1,224	29-Oct-16

Source: URA. These were the only two recorded transactions for this size since 1995.

4. Hougang Green

Location: 5 Buangkok Green (District 19)

Developer: Hiap Hoe Group

TOP: 1998

Lease: 99-years 

Number of units: 90

Hougang Green is located next to the mall of the same name; this isn't a very big mall, but it's a favourite for its food court, and eateries like Arnold's Fried Chicken (be warned, it can get quite crowded as people from Serangoon also come here for dinner or supper). There's also a Giant located here, so residents of Hougang Green have all their key amenities right on their doorstep.

It's also surprising that, despite its nondescript appearance, Hougang Green was built by the same developer behind the ritzy Skyline 360 at St Thomas Walk and Waterscape at Cavenagh, in the CCR.  

Public transport access is better than it looks on paper. Buangkok MRT (NEL) is the closest station, accessible through bus 43; but in practice, most residents will probably ride bus 43 all the way to NEX Megamall, where Serangoon MRT is located (although Sengkang Grand Mall is probably no shoddy alternative). This means residents can get to a major shopping centre quite easily, even though NEX and Buangkok station are technically too far to walk. 

Overall, this is a very underrated and convenient project, if you can look past the age (built 1998) and leasehold factor. One other issue some buyers may have is the proximity to IMH; we think it's a silly taboo, but some buyers can be a bit old-fashioned.

Transactions

Project Name	Transacted Price ($)	Area (SQFT)	Unit Price ($ PSF)	Sale Date
HOUGANG GREEN	$900,000	1,163	$774	3-Jan-23
HOUGANG GREEN	$800,000	1,163	$688	12-Dec-12
HOUGANG GREEN	$640,000	1,163	$551	4-Aug-10
HOUGANG GREEN	$510,000	1,163	$439	19-Jun-09
HOUGANG GREEN	$518,000	1,163	$446	19-Mar-08

Source: URA. Last five transactions for this size.

5. Natura @ Hillview

Location: 18 Hillview Terrace (District 23)

Developer: Mequity (Hillview) Pte. Ltd. 

TOP: 2015

Lease: Mixed 

Number of units: 193

Natura is next to the Hillview Crescent area, which is a landed enclave. While there are some other small condo projects around Natura, we’d say it generally preserves the feel of low-density living. While it’s quiet and private, this area is quite sparse — there are few amenities (barring an occasional cafe), and Hillview MRT is probably not at a distance that you would want to walk daily.

One quirk of Natura, which results in the low overall pricing, is the number of small units. One and two-bedders make up around half of the 193 available units, and we covered some of the details in this article. This is a problem for some family buyers, as most units may just be too small (the three bedder here is lowly priced but at just 635 sq ft)

The closest major retail option is West Mall (a six-minute drive), which also has a cinema and supermarket; as an alternative, there’s the closer and smaller HillV2 (a three-minute drive), which will do for groceries and eateries. The nearby HDB enclave at Bukit Batok also has the usual slew of coffee shops, minimarts, and heartland amenities; and this is roughly a five-minute drive under most road conditions. 

That aside, the main appeal of Natura is in its name: this project is meant to take advantage of the greenery of Hillview Terrace, and the proximity to nature zones like The Rail Corridor, Dairy Farm, and Bukit Timah. This makes the developers’ decision to focus on small units even stranger, as these qualities typically appeal to family buyers. 

Transactions

Project Name	Transacted Price ($)	Area (SQFT)	Unit Price ($ PSF)	Sale Date
NATURA@HILLVIEW	$935,000	657	$1,424	11-May-23
NATURA@HILLVIEW	$910,000	657	$1,386	27-Jan-23
NATURA@HILLVIEW	$874,900	657	$1,332	27-Jul-12
NATURA@HILLVIEW	$862,500	657	$1,314	19-Jun-12
NATURA@HILLVIEW	$850,500	657	$1,295	14-Jun-12

Source: URA. Last five transactions for this size.

ALSO READ: 11 leasehold condos with a secret - they're actually on freehold land. Here's where to find them

This article was first published in Stackedhomes.