DB, there's no-one stopping you buying an apartment if you have the $$$ and it is certainly a great long-term investment, but you'd need $1million or so to start off. If you don't have that sort of money and can handle the lifestyle (and the heat) then you are on the right track..
Keppel Bay?? No, no, no you don't want to go there. Yes, it's nice and yes it's close, but it's waayyy too expensive!! ..and, yes, there are extras.
If you don't like Changi, try SAFYC Sembawang: http://www.safyc.org.sg/
. Give them a call. They're friendly, out of the way, and the MRT will get you into the city whenever you want.