1-Bedroom vs 2-Bedroom Condos in Singapore (Comparison)
When it comes to choosing a condominium in Singapore, the decision between a 1-bedroom and a 2-bedroom unit can be quite perplexing. Each option has advantages and considerations that prospective buyers must consider. In this article, we will compare and contrast the key aspects of 1-bedroom and 2-bedroom condos in Singapore, helping you make an informed decision based on your needs and preferences.
1-Bedroom Condo (Check out 1 room condo for sale)
1 bedroom condo size singapore is ranging 420sqft to 604sqft. (Studios can be around 344sqft to 409sqft)
Condos for sale 1 bedroom in Singapore are popular among young professionals, couples, and individuals seeking a compact and cozy living space. These condos typically consist of a bedroom, a living area, a kitchenette, and a bathroom. They are designed to maximize space utilization while offering modern amenities and convenience.
The benefits of owning a 1-bedroom condo include affordability, lower maintenance costs, and easier management(Smaller space to clean). They are an excellent choice for those who prioritize location and prefer a minimalist lifestyle. Furthermore, 1-bedroom condo often provide excellent rental potential due to their suitability for singles or couples working in the city. While BUYCONDO team is sourcing for a resale condos 1 bedroom for sale, for the resale condos average rental yield is around 3.8%.
How much is a one bedroom apartment in Singapore?
Small development (Below 50units)
Below $1m. Averagely $900k. There is very few or almost no more apartments ar $600k like we experienced in 2015-2020.
Bigger development(Min 100units) with good facilities
$1.2m-$1.4m (Example Spottiswoode Residences (freehold) is around $1.4m)
2-Bedroom Condo (How big is 2-bedroom condo?)
2 bedroom condo size Singapore is ranging 657sqft to 797sqft. (resale Condos can be around 800sqft to 1216sqft)
How much is a two-bedroom apartment in Singapore?
For Resale Condo, $1.2m- $2m Wider range depends of the age and location of the condo.
For New Launch, can consider Cairnhill 16 2br $2.155m onwards 775sf ($2781psf).
-2 Bedroom with 2 Bath (Expect to be pay around $100k or more)
-2 Bedroom with 1 Bath (Designed to be more affordable)
We do see some families who convert then 2nd bath room into a store or walk in closet because they dont not want to clean 2 bathrooms in the apartment.
You have to decide whether you are good with either one.
On the other hand, 2-bedroom condo offer more space and versatility, making them suitable for families or individuals who desire additional room for guests, a home office, or storage. These condos typically feature two bedrooms, a living area, a kitchen, and one or two bathrooms.
The advantages of 2-bedroom condo include the flexibility to accommodate changing needs and the potential for higher resale value. They offer a comfortable living space for families with children or individuals who require extra room for various purposes.
We will not cover so much on the 3 bedroom condo below just a guide.
3 bedroom condo size Singapore is ranging 904sqft to 1302sqft. (Resale Condos can be around 1100sqft to 1507sqft)
Average Condo Size (What is the average size of an apartment in Singapore?)
TOP in Year 1995 is around 1500sft.
TOP in Year 2000 is around 1300sft.
TOP in Year 2010 is around 1100sft.
TOP in Year 2020 is around 900sft.
Factors to Consider
When deciding between a 1-bedroom and a 2-bedroom condo, there are several factors to consider:
- Budget: Evaluate your financial situation and determine the affordability of the condo, including upfront costs, monthly mortgage payments, and maintenance fees.
- Lifestyle: Consider your lifestyle preferences and the space required to meet your needs. Think about whether you frequently entertain guests, work from home, or plan to expand your family in the future.
- Location: Consider the condo location and its proximity to amenities, transportation, schools, and workplaces. Choose a location that suits your lifestyle and offers convenience.
- Investment Potential: Analyze the potential return on investment by considering rental demand, capital appreciation, and market trends for the area’s 1-bedroom and 2-bedroom condos.
Space and Layout
One of the primary differences between 1-bedroom and 2-bedroom condos is the amount of space they offer. A 1-bedroom unit typically has a smaller floor area, making it more suitable for individuals or couples seeking a cozy living space. On the other hand, a 2-bedroom condo provides additional rooms, allowing for more flexibility and accommodating small families or individuals who require extra space for a home office or guests.
Price and Affordability
Regarding pricing, 1-bedroom condo are generally more affordable than their 2-bedroom counterparts. The cost difference can be attributed to factors such as unit size, location, and demand. If budget is a significant consideration for you, opting for a 1-bedroom condo might be a more suitable choice. However, it’s important to note that prices can vary based on the specific development and its amenities.
Rental Yield and Investment Potential
Regarding rental yield and investment potential, 2-bedroom condos tend to have an advantage. The additional bedroom provides an opportunity for higher rental income, as there is a larger pool of potential tenants. Moreover, the demand for 2-bedroom units remains relatively stable, making them a popular choice for both long-term and short-term rentals. If you are considering investing in a condominium for rental purposes, a 2-bedroom unit might offer better returns.
Lifestyle Considerations
Your lifestyle and personal preferences should also significantly influence your decision-making process. If you value privacy and prefer a minimalist living style, a 1-bedroom condo might be more suitable. It allows for easier maintenance and encourages a streamlined lifestyle. On the other hand, if you often host guests, work from home, or require an additional room for hobbies or storage, a 2-bedroom condo can provide the versatility and space you need.
Neighbourhood Ambience and Lifestyle Fit: Creating a Harmonious Living Environment
Lastly, but certainly not least, evaluate the overall ambience and lifestyle fit of the neighbourhood. Take the time to explore the surroundings, visit local establishments, and interact with the residents. Does the neighbourhood align with your preferences and lifestyle? Consider factors such as noise levels, green spaces, recreational facilities, and the overall atmosphere. Choosing a resale condo in a neighbourhood that resonates with your desired lifestyle will contribute to a harmonious and enjoyable living environment.
By considering these five commonly overlooked factors when purchasing a resale condo, you can make a more well-rounded and informed decision. Remember to evaluate location accessibility, building maintenance and management, future development potential, building age and structural integrity, as well as neighbourhood ambience and lifestyle fit. With thorough consideration of these factors, you can find a resale condo that meets your needs, and preferences, and provides a sound investment opportunity.
Resale Value (The Key Question)
Considering the long-term prospects of your investment, resale value is an important factor to consider. While both 1-bedroom condo and 2-bedroom condo can appreciate in value over time, 2-bedroom units generally have a broader market appeal. This broader appeal can translate into a potentially higher resale value when you decide to sell your property.
Not all 1 bedroom can buy. Suggest you to work the BUYCONDO team to do the shortlisting.
Conclusion 1-Bedroom vs. 2-Bedroom Condos in Singapore (Comparison)
In conclusion, the decision between a 1-bedroom and a 2-bedroom condo in Singapore depends on various factors such as your space requirements, budget, investment goals, and lifestyle preferences. Assessing these factors and weighing the pros and cons of each option will help you make an informed decision that aligns with your needs and preferences. Remember to consider your current situation and long-term plans to ensure you choose the right condominium that suits your lifestyle and offers the best value for your investment.
Work with us today to get your desired Condo. Below list is for one of our esteem client.
Frequently Asked Questions (FAQs)
- Q: Is it hard to sell a one-bedroom condo?
- A: We have sold 1 bedroom units in Foresque, Prestige Heights, EIS Residences, Coralis @ Katong, Spottiswoode Residences, Sky Everton and the list goes on. It may takes longer than selling a 3 bedroom Condo but there will be a suitable buyer that fit in the requirements.
- Q: Are 1 bedroom condo a good investment?
- A:Currently in 2023, the market is not favouring the 1 bedroom units because there are less investors due to the ABSD. However keeping it solely for rental yield it is still decent because high interest rates are not here to last.
- Q: What are some popular locations in Singapore for 1-bedroom and 2-bedroom condos?
- A: Popular locations for condo in Singapore include areas like the Central Business District (CBD), Orchard Road, Marina Bay, River Valley, Sophia Road and the list goes not.
4. Q: Can I find CONDO FOR SALE for 1 bedroom or 2 bedroom that is Brand new and TOP without waiting so long?
5. Q: How much do you need to earn to buy a condo in Singapore?
- A: Loan Eligibility: In Singapore, the maximum loan-to-value (LTV) ratio for residential properties is typically 75% for the first mortgage and 45% for the second mortgage. This means you must make a down payment of at least 25% of the property’s purchase price (including the buyer’s stamp duty and other fees). The remaining 75% can be financed through a housing loan.
