Six cheapest neighborhoods in Singapore

Buy a condo unit at below $1M.

The following is the counterpart of the six most expensive neighborhoods in the city list which Singapore Business Review has been running over the last two weeks.

The ranking is based on median sale price for the non-landed 99-year condo in 4Q12.

District 17 tops the list after it posted an average sale price of $918,508 for 231 contracts of new condos starting from 400sft. The bulk of condos sold range from 900-1000 sft, constituting around 19% of the total sales.

4Q12 price rise of 1.8% was the strongest quarterly growth in 2012 against the backdrop of tightened immigration measures and the six concerted efforts by the government to cool the residential market.

The relatively resilient property market was mostly attributed to the overwhelming popularity of homes in the Outside Central Region (OCR) which helped to boost prices of mass-market homes.

Prices of non-landed private homes in the OCR increased the most – rising 6.4% overall in 2012 compared to 0.7% (CCR) and 1.5 (RCR).