Freehold below $1,400 psf. 22 projects left.
New freehold launches ask $2,000–$3,300 psf. But go by what buyers actually paid — not what showflats ask — and 22 projects with real transaction volume still trade under $1,400. Here is the entire list.
- Of 1,474 tracked resale projects, only 22 freehold projects with 10+ recent transactions still trade below $1,400 psf.
- The cheapest — Wing Fong Mansions, $1,047 psf — sits in the city fringe, not the boondocks.
- Ten of the 22 carry 95–100% profitable five-year exit records.
- The list is one-directional: projects leave it (en bloc, re-rating) and nothing new ever joins.
URA caveat data to 15 Jul 2026. Last-done PSF, minimum 10 transactions in 24 months. Exit records from POV's matched-pair five-year model.
The full list — every freehold project under $1,400 psf
Screenshot this. It gets shorter every year.
| Project | Last-done PSF | 5y exits profitable | Yield | Median price |
|---|---|---|---|---|
| Wing Fong Mansions D14 · Geylang | $1,047 | 79% / 19 | 4.4% | $1.20M |
| Ballota Park D17 · Flora Dr | $1,144 | 97% / 38 | 3.1% | $1.60M |
| Edelweiss Park D17 · Flora Dr | $1,144 | 96% / 54 | 3.5% | $1.18M |
| Avila Gardens D17 · Flora Dr | $1,181 | 76% / 17 | 3.5% | $1.50M |
| Estella Gardens D17 · Flora Dr | $1,191 | 92% / 26 | 3.4% | $1.19M |
| Azalea Park D17 · Flora Dr | $1,194 | 66% / 29 | 3.3% | $1.56M |
| Dahlia Park D17 · Flora Dr | $1,211 | 100% / 25 | 3.2% | $1.45M |
| Northwood D27 · Sembawang | $1,238 | 84% / 19 | 2.7% | $1.64M |
| Carissa Park D17 · Flora Dr | $1,254 | 98% / 53 | 3.0% | $1.20M |
| Montrosa D23 · Hillview | $1,263 | 100% / 12 | 3.1% | $1.49M |
| Ferraria Park D17 · Flora Dr | $1,289 | 95% / 59 | 3.2% | $1.52M |
| # 1 Suites D14 · Geylang | $1,293 | 95% / 19 | 5.2% | $0.73M |
| Seletaris D27 · Springleaf | $1,314 | 100% / 24 | 2.6% | $2.13M |
| Changi Green D16 · Upper Changi | $1,315 | 100% / 21 | 3.0% | $1.30M |
| Ris Grandeur D18 · Pasir Ris | $1,317 | 100% / 26 | 2.9% | $1.74M |
| Mimosa Park D28 · Seletar Hills | $1,320 | 79% / 14 | 2.2% | $2.50M |
| NEWest D05 · West Coast | $1,336 | 100% / 19 | 5.9% | $2.65M |
| The Gale D17 · Flora Dr | $1,352 | 100% / 24 | 3.1% | $1.41M |
| Windy Heights D14 · Kembangan | $1,353 | 47% / 17 | 2.2% | $3.26M |
| Guillemard Suites D14 · Geylang | $1,366 | 96% / 23 | 4.9% | $0.82M |
| Sunhaven D16 · Upper Changi | $1,376 | 100% / 18 | 3.1% | $1.74M |
| Starville D14 · Geylang | $1,398 | 95% / 20 | 3.0% | $1.70M |
Highlighted rows = perfect five-year exit records outside the Flora Drive enclave (covered in our Kassia review). Median price = recent transacted, all unit sizes.
Read the geography first. Seven of the 22 sit in one place — the Flora Drive enclave in D17, which we dissected in the Kassia review. Strip those out and the cheap-freehold map is really four pockets: the Geylang–Kembangan belt in D14, the Upper Changi–Pasir Ris corridor in D16/D18, the Sembawang–Springleaf stretch in D27, and a lone Hillview boutique. That clustering is not an accident: these are the districts where freehold land was still cheap when the estates went up, and where no MRT-driven re-rating has yet repriced the old stock.
What the exit records separate
Same price bracket, very different risk.
Ten of the 22 have never let a five-year seller down — 100% profitable exit records at Dahlia Park, Montrosa, Seletaris, Changi Green, Ris Grandeur, NEWest, The Gale, Sunhaven and near-perfect records at Carissa and Ferraria Park. These are the boring compounders: unglamorous addresses where everyone who held five years left with a gain.
Then read the two warnings in the same table. Windy Heights at $1,353 psf looks like the same deal — but only 47% of its 17 exits were profitable, the worst record on the list. Big old units in Kembangan bought dear in earlier cycles have taken a decade to work back. And Azalea Park (66%) shows the oldest Flora Drive phase carrying the enclave's early-buyer scars. Cheap PSF is not the same thing as a safe entry — the exit column is what separates a value find from a value trap.
The Geylang cluster needs its own honesty note. Wing Fong Mansions, # 1 Suites, Guillemard Suites and Starville deliver the best yields on the list (4.4–5.2%) precisely because the address discount never fully closes. Banks are selective by lorong, exit liquidity is thinner, and you should buy there for the rent, not the flip.
The three we'd view first
Quantum, record, and a reason the discount exists.
Changi Green (D16, $1,315 psf, 21-for-21 exits). A quiet freehold condo near Upper Changi MRT with a perfect record and a $1.3M median quantum — the cheapest clean entry into freehold-plus-MRT on this list. The discount exists because Upper Changi reads as "far" to west-siders; the SUTD-and-Changi workforce renting there disagrees.
Ris Grandeur (D18, $1,317 psf, 26-for-26). Pasir Ris's only large freehold condo estate, one road from the Cross Island Line interchange works. When CRL opens around 2030, the "far east" discount this project trades on starts looking like the mispricing of the decade. Full-facility, family-sized stock.
Seletaris (D27, $1,314 psf, 24-for-24). Regular readers know this one from Issue 001 — freehold at the Springleaf end of Sembawang Road, in the district with Singapore's sharpest 12-month PSF move (+16.5%) and a brand-new 99-year launch up the road that printed $2,175 psf, 941 units, 98% sold. The re-rating benchmark is now sitting two bus stops away.
This list only ever gets shorter.
- No new supply, ever: state land is 99-year by definition, so no new freehold project will ever launch at these prices. Every en bloc and every re-rating removes a name and nothing replaces it.
- Buy the record, not just the PSF: ten projects here have perfect five-year exit records. Two others (Windy Heights 47%, Azalea 66%) prove cheap can still hurt.
- Our first viewings: Changi Green for quantum, Ris Grandeur for the CRL story, Seletaris for the district momentum.
Want the full workings on any of these 22?
Every project here has a deeper file — unit-level transactions, rental record, exit-window timing. Tell me your budget and I'll tell you which three fit it. No pressure, no spam.
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Methodology & honesty notes. Last-done PSF, medians, yields and momentum computed from URA caveat data as at 15 Jul 2026; projects shown require at least 10 transactions in 24 months so thin, unrepresentative prints don't make the list. "Exits profitable" = POV's matched-pair model over a five-year window (same unit bought and later sold; profit before interest, taxes and fees). Freehold includes 999-year estates. Median price spans all unit sizes in a project — use PSF for like-for-like comparison. POV Realty and Farhan Adenan are not the marketing agents for any project or listing referenced, and nothing here is financial advice — it's a starting point for your own due diligence, which is exactly how we'd use it.
Farhan Adenan · CEA Registration R068636D · Senior Associate Division Director, Huttons Asia Pte Ltd (Estate Agent Licence L3008899K).