More than one Singaporean (or expatriate) has been ambushed with a walk-up apartment. You’re told a particular property is spacious, it’s got a great location, low price, etc. but then you arrive and find out the one problem: no elevator.

We find it impossible to predict how you’ll react at that point.

Some people immediately feel faint, seeing visions of them staggering up the 40+ steps with groceries. Others like the place even more – some people secretly feel satisfaction at not being one of the lembeh people, who are too soft to handle stairs.

But are walk-up apartments really hidden gems in the Singapore private property market? Or are they just a dead-end of property investments? Let’s find out:

What is a walk-up apartment?

In the context of this article, we’re referring to apartments in which there’s no elevator. These tend to be small, older developments, which don’t usually go beyond the fifth floor