For years, private condominiums have been a go-to investment in Singapore. They were seen as safe, steady, and almost guaranteed to appreciate over time, with developments such as Pinery Residences often cited as examples of well-positioned projects. But the market today looks very different from a decade ago. Prices are higher, rules are tighter, and buyers are more selective. So the question is fair: are modern condos still a good investment in Singapore? The short answer is yes, but not in the way they used to be.

The price reality today

Modern condos are expensive. Launch prices for new developments often cross levels that would have seemed unrealistic not long ago. Land costs have risen, construction costs remain elevated, and developers are cautious about margins. All of this feeds into higher entry prices for investors.
At the same time, cooling measures have changed the math. Additional Buyer’s Stamp Duty makes buying a second or third property costly, especially for locals. For foreign buyers, the tax is even steeper. These measures have done what they were designed to do: slow speculative buying and reduce rapid price spikes.
As a result, investors can no longer rely on quick flips. Capital appreciation is still possible, but it tends to play out over a longer holding period.

Supply is no longer the main risk.

One common fear is oversupply. In reality, Singapore’s pipeline is tightly managed. Government land sales are controlled, and developers face strict deadlines to complete and sell projects. This keeps the unchecked oversupply in check.
What has changed is the type of supply. Many new condos are smaller, with greater emphasis on shared facilities. This suits some buyers, especially tenants and young professionals, but it limits appeal for families looking for long-term homes. From an investment perspective, this means demand depends heavily on location and tenant profile.
Condos near MRT stations, business hubs, or growth corridors continue to attract strong interest. Those in less connected areas may struggle, even if they are new and well-designed.

Rental demand remains a key support.

One reason condos still make sense is rental demand. Singapore remains a regional business hub, and expatriate demand has not disappeared. While rental prices fluctuate, well-located condos continue to attract tenants who prefer privacy, facilities, and flexible lease terms.
Smaller units, especially one- and two-bedders, tend to perform better on yield. Investors should be realistic, though. Net yields are not high by global standards. After factoring in taxes, maintenance fees, and financing costs, condos are more about long-term wealth preservation than strong cash flow.

Location matters more than ever.

In the past, rising tides lifted most boats. Today, location does much of the heavy lifting. Proximity to MRT lines, employment centres, and amenities directly impacts both resale value and rental demand.
Areas tied to long-term planning initiatives also deserve attention. Infrastructure upgrades, decentralised business hubs, and transport improvements can support gradual appreciation. Data and planning direction from the Urban Redevelopment Authority give useful clues about where growth is likely to concentrate over the next decade.
That said, buying purely on future promises is risky. Execution takes time, and not every plan translates into immediate value.

New launches vs resale condos

Modern condos often mean new launches, but resale units should not be overlooked. New projects come with higher prices, smaller layouts, and limited room for negotiation. Resale condos may offer larger spaces, established communities, and more transparent rental histories.
From an investment perspective, resale properties sometimes offer better value, especially if they are well-maintained and close to transport. New launches can still work, but only if the entry price leaves room for future growth.
The idea that “new is always better” no longer holds across the board.

Condos as a defensive asset

Condos today function more as defensive investments than high-growth ones. Singapore’s political stability, strong legal system, and controlled housing market continue to attract long-term capital. For investors looking to park wealth in a tangible asset, private property still ticks many boxes.
This is especially true for buyers who do not rely on short-term gains. Holding power matters. Those who can ride out market cycles without pressure to sell tend to benefit the most.

Who should still consider a condo investment?

Modern condos still make sense for certain profiles. Long-term investors who value stability over speed. Buyers who understand financing and are comfortable with lower yields. And those who can be selective about location and entry price.
They are less suitable for speculative buyers hoping for quick profits. The market simply no longer rewards that strategy.
Investors also need to be honest about opportunity cost. Capital tied up in a condo could be deployed elsewhere. Comparing expected returns, liquidity, and risk across asset classes is more important than ever.

So, are they still worth it?

Modern condos in Singapore are no longer a shortcut to easy gains. But they are far from obsolete as an investment. The fundamentals remain solid, even if the upside is more measured.
The key difference today is intention. Condos reward patience, discipline, and careful selection. Buy well, hold sensibly, and manage expectations. Do that, and modern condos can still play a useful role in a balanced investment portfolio.
They are not the same bet they once were. But for the right investor, they are still rational.