The property market in Singapore is red hot right now, despite a worldwide pandemic that has been going on for over a year, and with our country going through the worst recession since our independence in 1965.

We have been hearing whispers and rumors of impending further cooling measures, which in turn has been driving more buyers to take the plunge before these potential measures kick in.

It may be difficult for bargain seekers to suss out the best buys in the market right now, so we have compiled a list a the Top 10 Cheapest 3 Bedroom Condos, ranked by overall recent transacted prices.

(We excluded Executive Condominiums (ECs) because they are not consider private condominiums until after 10 years).

 

The Jovell

Average PSF $1197

Size 904 sqft

Average Quantum $1,082,337

Monthly mortgage: $3000

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Treasure At Tampines

Average PSF $1301

Size 883 sqft

Average Quantum $1,148,542

Monthly mortgage $3184

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Riverfront Residences

Average PSF $1341

Size 872 sqft

Average Quantum $1,169,509

Monthly mortgage $3242

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

The Garden Residences

Average PSF $1583

Size 786 sqft

Average quantum $1,244,418

Monthly mortgage $3450

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Affinity At Serangoon

Average PSF $1509

Size 850 sqft

Average quantum $1,282,495

Monthly mortgage $3555

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Twin Vew

Average PSF $1430

Size 904 sqft

Average quantum $1,293,092

Monthly quantum $3585

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Uptown @ Farrer

Average PSF $1890

Size 700 sqft

Average quantum $1,323,311

Monthly quantum $3668

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Whistler Grand

Average PSF $1387

Size 958 sqft

Average quantum $1,328,774

Monthly quantum $3684

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

Parc Clematis

Average PSF $1628

Size 829 sqft

Average quantum $1,349,951

Monthly quantum $3742

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

View At Kismis

Average PSF $1683

Size 807 sqft

Average quantum $1,357,858

Monthly quantum $3764

(Based on 2% bank interest rate, 30 years loan tenure and 75% LTV)

 

 

For usage of CPF OA to pay the monthly mortgage:

Age 35 or under- $1380

Age 35-40 $1260

Above 45 $1140

The limit for CPF OA is capped at 23% of max $6000.

So for example if both husband and wife are aged 30 and 33, both can each use $1380 from their CPF OA to pay for the mortgage. Therefore if the monthly mortgage is $3000, they would only need to top up $240 in cash.

 

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