Your search results

Beyond Tenure: Why These Buyers Chose Older Leasehold Condos in Singapore

Posted by Jayson Ang on February 14, 2026

| 0

TLDR

Older leasehold condos in Singapore may face skepticism but offer key benefits such as affordability, location, and flexibility. Three homeowners shared their experiences: CH and his wife, both self-employed, chose an older leasehold condo for its sea view and price under $1.2M, preserving future purchase options. SY bought Pearl Bank Apartment near Chinatown for convenience and profited significantly from its 2018 en bloc sale. GT needed space for a home-based business and found a leasehold unit near Jurong East that fit his budget and lifestyle. These stories show that older leasehold condos can be smart choices for affordability, en bloc potential, and unique needs. Whether to buy, sell, or wait depends on personal circumstances, and expert advice can help tailor a strategic plan based on market data and individual goals.

In the Singapore property market, older leasehold condos often face skepticism, with many buyers preferring the perceived permanence of freehold properties. However, for some, the practical advantages and unique opportunities offered by older leasehold developments outweigh the concerns about tenure. Here are the stories of three homeowners who chose this path and have no regrets:

1. Affordability and Flexibility for Self-Employed Couples

For CH, a Malaysian working in Singapore, and his self-employed Singaporean wife, affordability was a primary concern. As both are self-employed, their variable income is subject to a 30% reduction for Total Debt Servicing Ratio (TDSR) calculations, limiting their maximum loan amount and requiring a larger down payment. The inherent uncertainty of self-employment, including the fear of dry spells, added to their financial considerations.

After exploring various options, including properties in Malaysia, they found a unit in an older leasehold condo on the East Coast that met their size and budget requirements. Despite the condo’s age (dating back to 1986) and large size (over 1,000 units), the sea view and privacy won them over. The attractive price per square foot ($1,279 psf for a 937 sq. ft. unit) was a significant factor, as their agent highlighted the rarity of finding such a large unit with a sea view at that price, even for a leasehold property.

The total cost of under $1.2 million allowed them to purchase the condo entirely under CH’s wife’s name, preserving his eligibility to purchase another property in the future. With a remaining lease of 60 years, the couple, in their early forties, is not concerned about the long term and may hold the condo until the end of its lease.

2. Location, Convenience, and En Bloc Potential

SY’s experience with Pearl Bank Apartment (now redeveloped as One Pearl Bank) in Chinatown highlights the potential for older leasehold properties to offer both desirable locations and en bloc windfalls. Despite warnings from family and friends about the condo’s age (built in 1976) and reputation, SY and his spouse chose it for its proximity to their frequented temple and the vibrant Chinatown area, offering convenient access to amenities and public transport.

SY’s decision proved to be a wise one when CapitaLand acquired Pearl Bank Apartment in 2018 for $728 million. The en bloc sale resulted in significant gains for the owners, with units receiving between $1.8 million and $4.9 million. SY’s gains surpassed those of his siblings who had purchased newer properties. While he didn’t purchase a unit in the redeveloped One Pearl Bank due to changing living circumstances, he considers his decision to buy at Pearl Bank Apartment one of his best, with the sale proceeds covering the cost of his current resale condo.

3. Space and Versatility for Home-Based Business

GT, a product design and prototyping professional, sought a home that could also serve as his office and showroom. His need for ample space within a fixed budget led him to consider leasehold properties. When his agent showed him a 1,180+ sq. ft. unit in Lakeshore (lease from 2002), he immediately envisioned how he could adapt the space to his needs.

GT planned to merge two bedrooms to create a combined bedroom/office space and utilize the study area as a separate gallery. The unit’s price, approximately $1.6 million, was within his budget, making it a feasible option after selling his previous two-bedroom unit. GT does not consider the leasehold tenure of Lakeshore to be particularly old and is open to upgrading in the future. For now, he enjoys the convenience of living near Jurong East.

These stories demonstrate that while “old and leasehold” may not be the preferred combination for many, older leasehold condos can offer compelling advantages, including affordability, desirable locations, en bloc potential, and the flexibility to accommodate unique needs and lifestyles.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Opinion

Unseen Dangers of Putting Your Money in Upscale Freehold Properties in Singapore

Jayson Ang – February 17, 2024 –

TLDR Luxury freehold properties in Singapore may not always be the lucrative investment opportunities they appear to be. High-end properties...

All Opinion

Is Housing Policy an Unintended Factor in Singapore’s Birth Rate?

Jayson Ang – April 29, 2026 –

TLDR Singapore’s housing policies contribute to its declining birth rate through a complex mix of factors beyond just price. Flat...

All Buying Tips Opinion Selling Tips

8 Untold “Savings” Hacks You Need To Know As Soon As Possible

Jayson Ang – August 22, 2025 –

TLDR Undervalued properties in Singapore are those priced at least 10% below market value, often due to urgent sellers, developer...

Mandarin Top 5

Top 5 Best Alternative Music Venues in Singapore

Jayson Ang – September 20, 2024 –

Singapore, a vibrant and bustling city-state, is known for its diverse culture and thriving arts scene. The city's love for...

All Buying Tips

What’s Next for HDB Owners?

Jayson Ang – December 7, 2022 –

Buying a home always seems daunting especially such it is a big-ticket item and the prices for private homes can easily...

All Reports

21 Condominiums with Landed Properties Available for Foreign Purchase in Singapore

Jayson Ang – November 17, 2025 –

TLDR Foreigners who want landed living in Singapore but cannot buy traditional landed homes (except in Sentosa Cove) can consider...

Mandarin Top 5

Singapore’s Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors

Jayson Ang – May 29, 2023 –

Singapore's Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors Here are 5 insider tips for those looking...

Mandarin Top 5

Top 5 Rooftop Bars in Singapore with Amazing Views

Jayson Ang – July 27, 2023 –

Top 5 Rooftop Bars in Singapore with Amazing Views Singapore, the Lion City, is known for its stunning skyline and...

All Buying Tips Opinion Selling Tips

Why Older Freehold Condominiums Are Losing Their Edge in En‑Bloc Deals (2025)

Jayson Ang – April 14, 2026 –

TLDR Older freehold condominiums in Singapore are losing their edge in en‑bloc deals due to several structural shifts. Developers increasingly...

All Buying Tips

What Are The Key Factors That Contribute To Property Valuations And Why Are They So Crucial?

Jayson Ang – October 23, 2023 –

TLDR Understanding property valuations is crucial for both buyers and sellers in the real estate market. Property valuations involve two...

All Buying Tips

Crucial Facts : All First Time Buyers Need to Know

Jayson Ang – December 7, 2022 –

TLDR When it comes to property investment for first-time buyers in Singapore, careful planning and early action are key. Consider...

All Buying Tips Opinion

Increased Seller’s Stamp Duty (SSD) Rates in Singapore: Implications for Buyers and Sellers

Jayson Ang – May 18, 2026 –

TLDR From July 4, 2025, Singapore reinstates Seller’s Stamp Duty (SSD) rates to 2017 levels, with rates of 16%, 12%,...

Mandarin Top 5

Top 5 : Regret Buying An Old Condo in Singapore

Jayson Ang – February 25, 2025 –

In the bustling city-state of Singapore, the real estate market is a dynamic and ever-evolving landscape. As of 2023, new...

All Buying Tips Opinion Selling Tips

The Paradox: Why New Launch Condos in Singapore Are Flying Off the Shelves Despite Affordability Concerns

Jayson Ang – August 28, 2026 –

TLDR Despite widespread online complaints about housing affordability, new launch condos in Singapore continue to sell rapidly. HDB resale prices...

All Buying Tips Opinion

How CPF Adjustments in 2025 May Influence Your Homebuying Decisions in Singapore

Jayson Ang – June 17, 2026 –

TLDR In 2025, significant CPF changes in Singapore impact homebuying decisions, especially for older homeowners. The Special Account (SA) for...

Mandarin Top 5

Singapore Sights & Sounds: 5 Must-Know Facts From the Little Red Dot

Jayson Ang – March 7, 2025 –

Singapore, affectionately known as the Little Red Dot, is a vibrant city-state in Southeast Asia that boasts a unique blend...

Mandarin Top 5

Top 5 : Advantages of Owning a Luxury Condominium in Singapore for Long-Term Investment

Jayson Ang – February 23, 2025 –

Singapore, a thriving global city-state, has become an attractive destination for real estate investors. Among the various property types available,...