Affordable Luxury: Cheapest Executive Condos in Singapore
It is no secret that the recent pandemic brought devastating consequences in many aspects of the economy. One such aspect is the delay incurred on many BTO projects, extending the usual waiting time from five years to six or seven years. Thus, many homeowners eyeing these properties have changed their minds and are instead considering resale condos and executive condominiums (EC) just to secure a home quickly. Note that if you are considering an HDB upgrade to EC, you will not have to worry about any upfront ABSD payable for the new property; you can buy the EC first and sell your current flat within six months.
With all that said, if you are interested in these affordable yet luxurious housing options, here are the best choices to consider.
1. Lilydale
Behind Lilydale’s low prices hides impressive housing that many owners do not regret buying. When developer sales began for this EC back in December 2001, units averaged at around just $353 psf. Apart from being affordable, Lilyvale also benefits from being a stone’s throw away from the Yishun HDB blocks and being in a well-developed area. For one, the nearby Yishun Ring Road houses a Giant, an NTUC FairPrice, and Yishun Mall HDB shopping center, while towards Block 428A lies the Yishun Park Hawker Center.
All these places are situated close to the EC, and the neighbouring Nee Soon East Park makes it easy to find some much-needed green respite. Upon exiting the condo, you can catch buses connecting to the Yishun Interchange, which houses the NSL train station and the highly popular Northpoint Mall. This bus-to-train connection is the only convenient way of getting to an MRT station, making it the main drawback of Lilyvale.
Regardless, as a smaller EC with only a total of 319 units, Lilydale is a great option if you like living somewhere less crowded.
Location: 550 Yishun Avenue 6 (D27)
Number of units: 319
TOP: 2003
Lease: 99 years
Developer: CapitaLand
2. Summerdale
Summerdale is surrounded by many amenities within arm’s reach, starting with the Boon Lay Shopping Center and an assortment of HDB facilities like minimarts, laundromats, convenience stores, repair shops, and more. You can also find the Boon Lay Market and Food Center and a Mookata outlet near the Boon Lay Shopping Center.
In addition, several schools are also a short walk away from the EC, namely Boon Lay Garden Primary, Dunearn Secondary, and River Valley High. Regarding train access, a 10-12 minute walk gets you to Boon Lay MRT station from Summerdale, where you can find the East-West line and the future Jurong Regional line. Other notable places within the station area include Jurong Point, Jurong Central Park, and Jurong Lake Gardens.
Location: 2 Boon Lay Drive (D22)
Number of units: 432
TOP: 2000
Lease: 99 years
Developer: Boon Lay Executive Condominium
3. The Floravale
The accessibility issues at The Floralvale lend to its current low prices, but the opening of the Jurong Region Line in 2026 should resolve this issue. According to available plans, this expansion will include the Gek Poh MRT station (within walking distance of Floravale) that connects to Jurong East and provides access to the “second CDB” west of Singapore.
Until then, taking buses 181 and 185 is the best way to get around, which may not be convenient for some. Thankfully, the abundance of amenities in the surrounding HDB area offsets this. For starters, there is the HDB-run Gek Poh Shopping Center that has a food court and many other eateries, the usual convenience stores and minimarts lining the HDB blocks, and a Sheng Siong should you walk further out towards Jalan Bahar.
Location: 218 Westwood Avenue (D22)
Number of units: 754
TOP: 2000
Lease: 99 years
Developer: CapitaLand/Pidemco Land
4. NorthOaks
Completed back in 2000, NorthOaks is now a fully privatized and low-cost EC. This affordability likely stems from being in close proximity to other comparable projects like Woodsvale and Northwave and the distance to the nearest MRT station, which is the Admiralty MRT station (NSL). Although it remains within walking distance, it is not as close as some listings say, and you can expect the journey to take around 12 minutes on foot. Should that be too far for your liking, you can quicken the travel time by taking the bus 969, which is just a short walk away from the condo. Despite this, NorthOaks is still in a good location compared to other ECs, which are farther from the MRT.
NorthOaks is not just some ways away from the train station but also major retail centers. However, it shares several day-to-day amenities with the other nearby HDB flats, like the preschool at Woodlands Block 688C and a Sheng Siong around Woodlands Pasture II, both within walking distance.
Overall, for those who prefer living in serene HDB areas and away from the hustle and bustle of MRT stations and shopping malls, NorthOaks is certainly a good project worth looking into.
Location: Woodlands Crescent, 738081, Admiralty / Woodlands (D25)
Number of units: 720
TOP: 2000
Lease: 99 years
Developer: Hong Leong Holdings Pte. Ltd.
5. Woodsvale
As mentioned, Woodsvale is located right next to NorthOaks and is comparable in many other aspects besides location, including unit sizes, pricing, and facilities. That said, Woodsvale does not have squash courts, unlike the latter. However, it does have a couple of distinct advantages: having better unblocked views and being closer to the Admiralty MRT station, saving three to four minutes of walking time. For some buyers, these small upsides may suffice to make it an overall better location.
Location: 1 - 19, Woodlands Drive 72 (S)738089 (D25)
Number of units: 696
TOP: 2000
Lease: 99 years
Developer: CapitaLand
Conclusion
Landing a good home does not always have to break the bank, as seen by the executive condos above that blend affordability and luxury. If you want to make your home in any of these developments or others like it, NeezaNizam is the trusted housing agent in Singapore who can help you find what you’re looking for, especially if you’re wanting to upgrade from HDB to EC.
As veteran property agents, we can help simplify the process of securing the home of your dreams, be it resale flats, private condos, executive condominiums, and more. Book an appointment today to learn more about our services, such as home valuation, securing loans, wealth planning, and more!
