Looking for proerty in Singapore where you don't need to spend too much money is difficult, and we ended up the the New 7th Storey Hotel.

We stayed in a separate room rather than dorm and found it a good size for two of us. The shower left something to be desired in both rooms (we stayed their twice with a trip to KL between) and the water pressure in both was a little lacking.
Other than that the hotel was great, clean, simple, AWESOME location close to Suntech City, the DHL balloon, Sim Lim and Orchard road, not to mention the friendly staff.
Definitley worth a look if you don't want to spend to much money

This is the oldest hotel in Singapore and very clean, friendly staff. The only hotel I have seen with an elevator operator. Good location close to shopping and MRT. Lots of backpackers stay here. Every floor has a lounge area in the middle for hanging out. It even has a hot air balloon ride right next door.

This is a brilliant budget hotel. Clean, comfortable, staff helpful and pleasant, very affordable. I arrived at 3am exhausted, was in bed in minutes with no fuss at all. Also in a very convenient location.

Paid $116 for two nights in the "New" 7th Storey Hotel which sits in the middle of parkland like the proverbial. It is easy to get to on the $1.50SD train from the airport.
The New 7th Storey is not new but it is in a great position to walk anywhere you want to. The rooms are fine. Great views over the park to a truly stunning art deco building.
The old elevator has a bonus in the retired blokes who are the elevator jockeys. They can tell you everything about Singapore and where to go for your touring besides up and down.The front desk staff are also helpful with early book-ins if possible and tips on where to go while in their city.
A top place to stay, handy to everything with helpful, friendly staff.