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 Blog Posts Buying Tips

Should I Buy In A Newly MOP HDB Or An Older Resale HDB?

Jayson Ang – March 18, 2023 –

TLDR When deciding between a recently MOP-ed HDB property and an older resale HDB property in Singapore, various factors come...

All Buying Tips Opinion Selling Tips

The 15-Month Wait-Out Period: An Unnecessary Burden in a Challenging Economy

Jayson Ang – February 6, 2026 –

TLDR The 15-month wait-out period introduced in September 2022 requires private property owners to wait before buying a resale or...

All Buying Tips

When to Strike Gold: The Ultimate Guide to Selling Your House in Singapore!

Jayson Ang – June 28, 2024 –

TLDR When deciding the best time to sell your property, consider various factors such as market trends, financial goals, and...

All Blog Posts Buying Tips Opinion

UNCOVERING the Secret to Profitable Small Boutique Condos!

Jayson Ang – November 30, 2024 –

TLDR Boutique condos, with fewer than 100 units, are known for price fluctuations due to infrequent transactions and higher upkeep...

All Opinion Selling Tips

Why Selling Your Own HDB Flat May Be More Challenging Than You Anticipate: 7 Hidden Challenges to Prepare For

Jayson Ang – January 29, 2025 –

TLDR Selling your flat can be a daunting task, not because of the paperwork but due to challenges in marketing...

All Buying Tips Opinion Selling Tips

The Unforeseen Impact on Your Home Loan in Singapore if Your Spouse Passes Away

Jayson Ang – September 25, 2026 –

TLDR The death of a co-borrower in Singapore can trigger complex home loan challenges beyond simply taking over repayments. Banks...

All Buying Tips

Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)

Jayson Ang – August 15, 2023 –

TLDR When it comes to navigating the Additional Buyers Stamp Duty (ABSD) in Singapore, there are legal strategies available to...

Mandarin Top 5

Top 5 : Tips To Plan Your Retirement in Property Investments in Singapore

Jayson Ang – February 17, 2025 –

Planning for retirement is a crucial aspect of financial management, and property investment has emerged as a popular strategy for...

All Buying Tips

The Lifecycle of an HDB Flat: Essential Stages for Owners and Buyers

Jayson Ang – July 4, 2026 –

TLDR HDB flats in Singapore, home to 80% of residents, begin as state land acquired at fair market value. The...

All Blog Posts Buying Tips

Step-By-Step Guide To Buy Resale HDB (Updated March 2023)

Jayson Ang – July 13, 2023 –

TLDR The process of purchasing a resale HDB flat involves steps such as checking eligibility, calculating affordability, registering intent to...

All Buying Tips Opinion

Larger Living Spaces: The New Demand Surge Post-Pandemic

Jayson Ang – January 13, 2025 –

TLDR We explore the significant impact of digital marketing strategies on business growth in today's competitive landscape. It highlights the...

All Blog Posts Buying Tips

6 Secrets Foreign Investors Are Rarely Told About Singapore’s Real Estate Market

Jayson Ang – January 6, 2023 –

TLDR The Singapore property market presents unique characteristics that foreign buyers should consider. From the high rate of homeownership to...

All Buying Tips

Want To Buy A Property? Read Me First!

Jayson Ang – December 7, 2022 –

TLDR Understanding the key factors involved in buying property in Singapore is crucial for making informed decisions. Consider your investment...

Mandarin Top 5

The Top 5 Renovation Tips For Increasing The Value Of Your Singapore Property Investment

Jayson Ang – July 28, 2024 –

When it comes to increasing the value of your Singapore property investment, strategic renovations can make a significant difference. Here...

Mandarin Top 5

Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market

Jayson Ang – December 23, 2024 –

Singapore's real estate market is a dynamic and attractive investment landscape for both local and international investors. Known for its...

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 Opinion Selling Tips

The Rise of New Launch 2-Bedroom Condos: Why Homebuyers are Prioritizing Them Over Resale Options in 2025

Jayson Ang – May 27, 2026 –

TLDR Two-bedroom condominiums are shifting from primarily rental investments to popular family homes, especially among small families and HDB upgraders,...