Landed property to remain preserve of S'poreans: minister [Archive] - Condo Forum Singapore Property Review Mortgage Loan Buy Rent Sell Real Estate

proper-t

21-07-11, 09:40

News for yr consumption. FYI, my friend just became a Singapore citizen and informed me that the ceremony was pretty crowded with new citizens. I don't think there is any report or info on how many landed are bought by newly minted citizens....

Business Times - 21 Jul 2011

Landed property to remain preserve of S'poreans: minister
Law Minister Shanmugam tells BT that PRs own just 3.5% of landed homes, including those at Sentosa Cove, and this approach will stay

By MICHELLE QUAH
(SINGAPORE) The Singapore government has come out to say that landed property in Singapore will remain the primary preserve of Singaporeans.
In response to queries on the matter, Law Minister K Shanmugam told The Business Times that 'the government takes a strict approach towards ownership of landed property in Singapore by PRs (permanent residents)'.
He said that PRs today own only 3.5 per cent of landed residential properties in Singapore - and this includes the Sentosa Cove properties, for which the government had taken a decision to liberally allow purchase by foreigners.

Mr Shanmugam also said the ministry regularly reviews the rules to ensure that they are current and relevant.

The issue came under the spotlight after reports in this paper and in The Straits Times said that a high proportion of private homes are being snapped up by foreigners.

Citing a DTZ Research report, both papers said that foreign home buyers snapped up 16 per cent of all private homes sold in the first quarter, the highest quarterly percentage since data became available in 1995. The reports added that foreigners were also active in the last quarter of last year when they bought 13 per cent of all homes sold.

The report in The Straits Times prompted a response from a member of the public, Koh Chin Chin, who wrote to ST, saying she was shocked at the number of private homes sold to foreigners. She said 'it is high time the government stepped in to address this issue ... (and) limit the percentage of homes sold to foreigners'.

Mr Shanmugam's stand was unequivocal. 'The government believes that landed residential properties must remain the primary preserve of Singapore citizens, given their scarcity in Singapore,' he said.
He reiterated that only foreigners who are PRs can purchase landed residential properties in Singapore - and those who wish to purchase such properties must seek the approval of the Law Minister.

He said approvals are only given to applicants who are making a significant
economic contribution to Singapore. Even then, each approved foreigner can only purchase one property.

The treatment is slightly different for the Sentosa Cove properties, where foreigners who are not PRs are allowed to purchase homes - but are restricted to landed property. He explained that the Sentosa Cove properties belong to the high-end segment of the property market, and are deliberately marketed as a unique, world-class development to attract famous, wealthy and influential persons to come to Singapore.
The minister went on to say that stringent conditions are imposed on approved PR purchasers of landed properties. For example, the property must be for owner-occupation, and cannot be sold within three years. This is to deter purchases for speculative purposes, he said.
Singapore citizens and PRs who renounce or lose their citizenship or permanent residency are also required to dispose of any interests they have in landed residential properties.

There are also severe penalties for those who breach these conditions. For example, a PR owner who rents out his landed residential property without approval now faces a financial penalty of up to three times the rental income earned over the period of breach, or $10,000, whichever is higher. A PR owner who disposes of a restricted property without approval during the non-disposal period now faces a maximum fine of $200,000.
These are enhanced penalties, which came into effect in January this year. The previous penalty for both offences was a maximum fine of $5,000 and/or a three-year jail term on conviction.

The DTZ Research report also said that Chinese buyers overtook Malaysians as the top buyers by accounting for 24 per cent of purchases made by non-Singaporeans in the first quarter of the year.
It went on to say that homes in District 16 - comprising Bedok and Upper East Coast - saw greater buying interest from foreigners compared with last year. And that District 18, including Tampines and Pasir Ris, and District 23 with Hillview and Choa Chu Kang were also increasingly popular.
The report said that foreigners bought more into the high-end market. They accounted for 21 per cent of all the homes sold for $1.5 million and above in the first quarter, up from a 17 per cent share in the previous three months.

hopeful

21-07-11, 10:17

Funny right.
in one sentence,
Mr Shanmugam's stand was unequivocal. 'The government believes that landed residential properties must remain the primary preserve of Singapore citizens, given their scarcity in Singapore,' he said.
the next sentence,
He reiterated that only foreigners who are PRs can purchase landed residential properties in Singapore - and those who wish to purchase such properties must seek the approval of the Law Minister.

better learn english
the key word is:
must remain the primary preserve of Singapore citizens.

different meaning if
must remain the preserve of Singapore citizens.

Fisherman

21-07-11, 11:09

xebay11

21-07-11, 11:43

Localite

22-07-11, 20:08

So landed property is under valued just like HDB used to be before it was raided by foreigners.

BUY LANDED PROPERTY NOW!!!!

buttercarp

22-07-11, 22:27

So landed property is under valued just like HDB used to be before it was raided by foreigners.

BUY LANDED PROPERTY NOW!!!!

I just bought!
Some of my frens think i am crazy to buy now.
Since I have bought, I must not look back.
I am looking forward from now on......

Rysk

22-07-11, 22:42

I just bought!
Some of my frens think i am crazy to buy now.
Since I have bought, I must not look back.
I am looking forward from now on......

Gd luck!
I also thought of buying.. but buy one for rebuild or do major AA to my taste.

land118

22-07-11, 22:48

I just bought!
Some of my frens think i am crazy to buy now.
Since I have bought, I must not look back.
I am looking forward from now on......
No worries if u buy to stay.....

buttercarp

22-07-11, 22:49

Gd luck!
I also thought of buying.. but buy one for rebuild or do major AA to my taste.

I can't take the stress of A&A.
I will shrivel and age with the stress.

Btw, does anyone know whether we can construct a floor across the void space in the floors above where there is supposed to be an optional lift?

Thanks for the well wishes, Rysk.
Good luck in your house hunting.

buttercarp

22-07-11, 22:53

No worries if u buy to stay.....

Yup.... going to stay for at least 10 years.
But the TOP is 3 years later.....
Which i good too cos I love my present place and don't wish to move yet.
Since FH land is so scarce, and the place is a new development, I just could not resist........

land118

22-07-11, 23:46

Yup.... going to stay for at least 10 years.
But the TOP is 3 years later.....
Which i good too cos I love my present place and don't wish to move yet.
Since FH land is so scarce, and the place is a new development, I just could not resist........

See latest URA figures..., landed increase outpace non landed...:

http://www.ura.gov.sg/pr/graphics/2011/pr11-95a1.pdf

DC33_2008

23-07-11, 09:39

That is great!:cheers1:
See latest URA figures..., landed increase outpace non landed...:

http://www.ura.gov.sg/pr/graphics/2011/pr11-95a1.pdf

land118

23-07-11, 10:35

That is great!:cheers1:
"Preserved of S'porean", :cheers1: :cheers6:

doraemon1

23-07-11, 14:04

I also bought a 2 storey corner terrace 300m from potong pasir mrt in D13, Senette estate :cheers1:

buttercarp

23-07-11, 14:08

I also bought a 2 storey corner terrace 300m from potong pasir mrt in D13, Senette estate :cheers1:

You just bought?
So A&A yourself?
Wow.... so convenient.

DC33_2008

23-07-11, 14:55

Hope u have not bought the house along wan tho avenue.
I also bought a 2 storey corner terrace 300m from potong pasir mrt in D13, Senette estate :cheers1:

wind30

23-07-11, 15:41

Yup.... going to stay for at least 10 years.
But the TOP is 3 years later.....
Which i good too cos I love my present place and don't wish to move yet.
Since FH land is so scarce, and the place is a new development, I just could not resist........

where did you get??

FH new development... Luxus hills?

land118

23-07-11, 17:05

Yup.... going to stay for at least 10 years.
But the TOP is 3 years later.....
Which i good too cos I love my present place and don't wish to move yet.
Since FH land is so scarce, and the place is a new development, I just could not resist........
U bought those new terrace houses at Pavilion Park at Bukit Batok / Bukit Panjang area?

buttercarp

23-07-11, 19:07

where did you get??

FH new development... Luxus hills?
How I wished I did.
I almost did 2 years ago...... Sigh.
Btw, Luxus Hill is 999y.

U bought those new terrace houses at Pavilion Park at Bukit Batok / Bukit Panjang area?

You are spot on, land 118!
Where else have new FH, ya?

land118

23-07-11, 22:02

How I wished I did.
I almost did 2 years ago...... Sigh.
Btw, Luxus Hill is 999y.

You are spot on, land 118!
Where else have new FH, ya?Ya, quite low key project by Allgreen compared to other launches..., earlier phases I believed all sold out, now launched Phase 2G

Reasonably priced in today's market...

http://www.allgreen.com.sg/index2.php?option=com_content&view=article&id=37

DC33_2008

24-07-11, 13:08

What is the land area, built up area and $psf?
Ya, quite low key project by Allgreen compared to other launches..., earlier phases I believed all sold out, now launched Phase 2G

Reasonably priced in today's market...

http://www.allgreen.com.sg/index2.php?option=com_content&view=article&id=37

buttercarp

24-07-11, 13:39

What is the land area, built up area and $psf?
You can check out Pavilion Park at this website
http://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/transaction/TransactionController.jpf

I agree with land 118 that it is reasonably priced.

doraemon1

24-07-11, 14:10

You just bought?
So A&A yourself?
Wow.... so convenient.

Yes, buttercarp, I had just bought. Going to do some minor renovations only as I like the present design and the house is very well-kept. Congrats on your buy! It looks good and new!

DC33_2008

24-07-11, 16:10

It is not cheap given the location and only a terrace house.
You can check out Pavilion Park at this website
http://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/transaction/TransactionController.jpf

I agree with land 118 that it is reasonably priced.

buttercarp

24-07-11, 17:48

It is not cheap given the location and only a terrace house.

The price of this project matches the price in a matured estate, save the trouble of A&A and old houses surrounding you.

The built up is close to 3000sq ft for most units, so it is still relatively cheaper compared to condos.

Yup, the location is not great, but it makes the place exclusive and quiet.
I could not resist this cos in this phase, the units are built on elevated ground and the front looks down into the neighbourhood.

land118

24-07-11, 19:23

Anything new is not cheap in current market, whether landed or condo, LH or FH. For FH landed, new, less not than $2m, almost cannot find anymore. Therefore in terms of quantum, landed FH or 999LH, new, one need to look at min. $2mil+ already. It's all about quantum now, even for condo, affordability is quantum, that's why developers pushing for MM at small quantum.

For terrace, psf is normally higher than semi-d and detached, similarly MM condos psf is also higher than bigger 2 or more bedders...

Butterecarp, not sure which Phase u bought yours, but I think should be about $2.5m if u bought yours recently. At quantum of $2.5m FH, new, landed, not cheap...., but i maintained Allgreen price to sell, not much choice at that quantum for new, FH landed. For own stay, no worries.

In today's market, I do believe threshold on affordability for people aspire to own FH landed is $3m...., once come to $4mil, I believe a much smaller chunk of people can afford. My :2cents:

xebay11

28-07-11, 18:08

Dun be taken in by the flowery language...if PAP can sell FH landed property to foreigners to make money, you bet the PAP would.

But physically it is not possible....or else huge parts of Singapore would be owned by foreigners in perpetuity without even firing a shot...ie. they simply "bought" Singapore.

So now they just butter the ppl by saying it is the "preserve of the ppl" yeah right...shouldn't jobs be too?

He added that the bungalow offers “the opportunity for Singapore permanent residents (PR) to buy for own stay — as the government is prepared to consider allowing PRs to acquire bungalows with land areas below 15,000 sq ft, provided they are purchasing it for their own stay.”

So much for preserve of Singaporeans.

howgozit

28-07-11, 18:49

Dun be taken in by the flowery language...if PAP can sell FH landed property to foreigners to make money, you bet the PAP would.

But physically it is not possible....or else huge parts of Singapore would be owned by foreigners in perpetuity without even firing a shot...ie. they simply "bought" Singapore.

So now they just butter the ppl by saying it is the "preserve of the ppl" yeah right...shouldn't jobs be too?

----------------------------------------------------------------------
He added that the bungalow offers “the opportunity for Singapore permanent residents (PR) to buy for own stay — as the government is prepared to consider allowing PRs to acquire bungalows with land areas below 15,000 sq ft, provided they are purchasing it for their own stay.”

So much for preserve of Singaporeans.

This has always been the case lah, there are so many Malaysians owning landed all over Singapore since way back.

Duku

29-07-11, 06:36

Interesting view on the home quantum threshold of 3 m . Assuming a house is at 3 m . Cash upfront is at abt 700 k (with stamp duty) and loan of 2.4 m approximate 8 k a month For payment over 30 years. Should be ok for combine income of 18 k plus ( assuming 40%Dsr)
If home price is 4 m . Cash upfront is about 950k , loan 3.2 m and payment of 10k per month over 30 years . Again should be afforable for combine income of 25k plus
The question is how many spore household earns 25 k a month ?
How many can afford a 5 m property ?
How many landed buyers are pr and newly minted citizen ?

Anyone has these statistics ?

Duku

29-07-11, 06:53

FRANKEL ESTATE COLDSTREAM AVENUESemi-Detached House13,568,8882,523Land1,414Jul-11
FRANKEL ESTATE HARTLEY GROVEDetached House15,280,0004,500Land1,173Jul-11 FRANKEL ESTATE SIGLAP BANKDetached House16,500,0004,585Land1,418Jul-11 LANDED HOUSING DEVELOPMENT LORONG N TELOK KURAUSemi-Detached House15,000,0004,835Land1,034Jul-11 LANDED HOUSING DEVELOPMENT TELOK KURAU ROADTerrace House11,980,0001,646Land1,203Jul-11 LANDED HOUSING DEVELOPMENT LORONG N TELOK KURAUSemi-Detached House14,700,0004,809Land977Jul-11 OPERA ESTATE JALAN BANGSAWANTerrace House11,860,0001,700Land1,094Jul-11 LANDED HOUSING DEVELOPMENT LORONG STANGEETerrace House11,720,0001,575Land1,092Jul-11 LANDED HOUSING DEVELOPMENT JOO CHIAT AVENUETerrace House12,120,0001,622Land1,307Jul-11 SIGLAP PARK WOO MON CHEW ROADTerrace House13,760,0004,094Land919Jul-11 LANDED HOUSING DEVELOPMENT JOO CHIAT PLACETerrace House13,160,0001,548Land2,042Jul-11 LANDED HOUSING DEVELOPMENT MEYER ROADSemi-Detached House14,220,0002,959Land1,426Jul-11 LANDED HOUSING DEVELOPMENT LORONG H TELOK KURAUSemi-Detached House14,608,0004,770Land966Jul-11
The 'new' price range for houses in the East
Terrace - 2 to 3 M
Semi D - Starting from 4 M
Detach -Min 5 M

Of course land size do matter, but I guess there are those that are only focus on quantum and type of houses it is base on

land118

29-07-11, 09:23

The 'new' price range for houses in the East
Terrace - 2 to 3 M
Semi D - Starting from 4 M
Detach -Min 5 M

Of course land size do matter, but I guess there are those that are only focus on quantum and type of houses it is base on
Not only in the east, it's the same for many other OCR landed estates as well. Important factor for any buyers us quantum...need to have about $3m for decent one. These are probably those who wants to upgrade /switch to landed from their current place.

Those that are $2m may not be new, after A&A, end up still in mid $2m+

Fisherman

29-07-11, 11:33

Originally Posted by Duku
The 'new' price range for houses in the East
Terrace - 2 to 3 M
Semi D - Starting from 4 M
Detach -Min 5 M

Of course land size do matter, but I guess there are those that are only focus on quantum and type of houses it is base on

Looks like the huddle is getting higher and higher. The effect of ASSET INFLATION?:scared-3:

xebay11

29-07-11, 11:41

This has always been the case lah, there are so many Malaysians owning landed all over Singapore since way back.

The key word you used was "way back".....when land was not so scarce. But this is still to continue to this day...acceptable?

howgozit

29-07-11, 11:52

The key word you used was "way back".....when land was not so scarce. But this is still to continue to this day...acceptable?

To me it has never been aceptable, whether the land was scarce or not.

xebay11

29-07-11, 12:26

To me it has never been aceptable, whether the land was scarce or not.

Me too. That is why I was cynical about the whole "preserve" thing.

chho

29-07-11, 13:08

To me it has never been aceptable, whether the land was scarce or not.

Don't think we need to worry as the policy of restricting landed to mostly Singaporeans is here to stay for a long time. Landed properties are widely perceived as the preserve of not only Singaporeans but also the wealthy. It is considered by most to be at the top of the residential housing hierarchy and the notion of having foreigners residing in landed properties while Singaporeans live in HDBs or even condos is unthinkable to the PAP government. Can you imagine wealthy foreigners buying up precious land in this little island and thus "landlording" over Singaporeans?

buttercarp

29-07-11, 13:15

Don't think we need to worry as the policy of restricting landed to mostly Singaporeans is here to stay for a long time. Landed properties are widely perceived as the preserve of not only Singaporeans but also the wealthy. It is considered by most to be at the top of the residential housing hierarchy and the notion of having foreigners residing in landed properties while Singaporeans live in HDBs or even condos is unthinkable to the PAP government. Can you imagine wealthy foreigners buying up precious land in this little island and thus "landlording" over Singaporeans?

But some PR can buy landed, so landed is not exclusive to Singaporeans.

chho

29-07-11, 13:23

Me too. That is why I was cynical about the whole "preserve" thing.

To my knowledge, all our ministers live in prime landed properties and our dear Shanmugam himself stays in a beautiful Black and White GCB on Astrid Hill. Good luck to Singaporeans who bought $10m super luxury condominiums.

chho

29-07-11, 13:32

But some PR can buy landed, so landed is not exclusive to Singaporeans.

"Primary preserve" means mostly reserved for Singaporeans but it is of course not exclusive to Singaporeans. You need a bait to entice high value PRs to stay and contribute to Singapore. How else are we going to compete with our tiny population? I think the policy is very sound.

land118

29-07-11, 15:05

"Primary preserve" means mostly reserved for Singaporeans but it is of course not exclusive to Singaporeans. You need a bait to entice high value PRs to stay and contribute to Singapore. How else are we going to compete with our tiny population? I think the policy is very sound.Heard from my friend who know someone that is President's neighbor, every year get tickets to NDP...

proper-t

29-07-11, 15:09

Heard from my friend who know someone that is President's neighbor, every year get tickets to NDP...

Plus a Gurkha to guard your street as well....

land118

29-07-11, 15:26

Heard from my friend who know someone that is President's neighbor, every year get tickets to NDP...For sure, no flood and maybe no mosquitoes..:D

wind30

29-07-11, 21:42

To my knowledge, all our ministers live in prime landed properties and our dear Shanmugam himself stays in a beautiful Black and White GCB on Astrid Hill. Good luck to Singaporeans who bought $10m super luxury condominiums.

what do you consider "Prime"?

I am pretty sure one minister don't live in "prime" area because I can walk to his place from my place.

howgozit

29-07-11, 22:21

To my knowledge, all our ministers live in prime landed properties and our dear Shanmugam himself stays in a beautiful Black and White GCB on Astrid Hill. Good luck to Singaporeans who bought $10m super luxury condominiums.

Please don't take this to be a political post.

Shanmugam was a senior partner in Alan and Gledhill. He can easily afford it. You can't possibly expect him to move to a HDB flat just because he became a politician.

Chen Show Mao can probably afford it too, I certainly don't expect him to move into a 4rm HDB in Eunos or Hougang. I hope he won't be pressured by political sensitivities to do so.

chho

29-07-11, 22:37

Please don't take this to be a political post.

Shanmugam was a senior partner in Alan and Gledhill. He can easily afford it. You can't possibly expect him to move to a HDB flat just because he became a politician.

Chen Show Mao can probably afford it too, I certainly don't expect him to move into a 4rm HDB in Eunos or Hougang. I hope he won't be pressured by political sensitivities to do so.

Totally agree. My point was that by and large people in the know (ie: our ministers) chose landed housing instead of luxury condos. Shanmugam was a top lawyer and he bought his house before he even became a politician.

clemdale

29-07-11, 22:58

From what I know.. Our dear president Nathan lives in Katong. Where i am not sure, but im guessing the richest area in Katong, ie Meyer/Goodman area...

what do you consider "Prime"?

I am pretty sure one minister don't live in "prime" area because I can walk to his place from my place.

focus

30-07-11, 00:54

From what I know.. Our dear president Nathan lives in Katong. Where i am not sure, but im guessing the richest area in Katong, ie Meyer/Goodman area...

Nope. Nathan lives around Katong ..but not meyer/goodman area.
More like joochiat/telok kurau area.

land118

30-07-11, 01:12

From what I know.. Our dear president Nathan lives in Katong. Where i am not sure, but im guessing the richest area in Katong, ie Meyer/Goodman area...
Common secret, he stay in Ceylon Road in Katong. He can be seen taking walks at East Coast beach

howgozit

30-07-11, 15:48

Totally agree. My point was that by and large people in the know (ie: our ministers) chose landed housing instead of luxury condos. Shanmugam was a top lawyer and he bought his house before he even became a politician.

Ok got it. I see your point. Thanks

land118

30-07-11, 18:58

http://www.straitstimes.com/STForum/Story/STIStory_696308.html

Jul 30, 2011
LANDED PROPERTY
Others want more, not less, curbs on foreign ownership

MR FRANKIE Mao suggested that the Government lift restrictions on foreign ownership of landed property ('Landed home values stifled by property law'; Wednesday). We note his reasons, but other Singaporeans have asked the Government to further restrict foreign ownership of such properties.

On balance, the Government feels that landed residential properties must remain the primary preserve of Singapore citizens, given their scarcity here.

Foreigners who wish to purchase such properties must therefore seek the approval of the Minister for Law.

Approval will be given only to a small number of permanent residents who are making significant economic contributions to Singapore to own one landed property for their own stay.

Stringent conditions are also imposed on approved purchasers, for example, they cannot sell the property within three years.

The Government will continue with this strict approach to foreign ownership of landed homes.

Chong Wan Yieng (Ms)
Director, Corporate Communications
Ministry of Law

teddybear

30-07-11, 20:54

Well, Ministers chose landed housing is for easier security monitoring and avoid unnecessary contacts with neighbours etc. Imagine if they live in a condo:
- Their security guards guard the condo's guard house?
- How to prevent their neighbours walking to their door to want to talk to them, complain this and that?
- Their cars can get vandalized by people not happy with them in the condo's common car park without anybody knowing?
- When they go in and out of the estate, it is so much easier for people to monitor their movements as residents in the condo, and also their movements recorded by CCTV of the condos.
- Condo security guards may get bribed to monitor them then to guard the condo? Who know what additional things they can do when given a big stash of cash?

In summary, there are many disadvantages to them to live in condo as above, so landed housing is the best choice, even if it is a semi-D also better than condo.

Totally agree. My point was that by and large people in the know (ie: our ministers) chose landed housing instead of luxury condos. Shanmugam was a top lawyer and he bought his house before he even became a politician.

Duku

30-07-11, 23:09

chho

31-07-11, 00:30

Well, Ministers chose landed housing is for easier security monitoring and avoid unnecessary contacts with neighbours etc. Imagine if they live in a condo:
- Their security guards guard the condo's guard house?
- How to prevent their neighbours walking to their door to want to talk to them, complain this and that?
- Their cars can get vandalized by people not happy with them in the condo's common car park without anybody knowing?
- When they go in and out of the estate, it is so much easier for people to monitor their movements as residents in the condo, and also their movements recorded by CCTV of the condos.
- Condo security guards may get bribed to monitor them then to guard the condo? Who know what additional things they can do when given a big stash of cash?

In summary, there are many disadvantages to them to live in condo as above, so landed housing is the best choice, even if it is a semi-D also better than condo.

I agree there is some truth to your argument.

But do you think they may have also acted in their self interest by simply buying something finite instead of something that is potentially infinite in the long term? You can only erect 1 landed property but you can built many units of apartments on that same plot of land mostly depending on plot ratio and future technological advances in engineering. As our population grows, our housing can only grow vertically. Landed property will become increasingly scarce over time as URA has already designated certain areas for landed property only in their Masterplan. It's the basic economic principle of demand and supply. I am sure they can figure it out.

chho

31-07-11, 00:33

Well, Ministers chose landed housing is for easier security monitoring and avoid unnecessary contacts with neighbours etc. Imagine if they live in a condo:
- Their security guards guard the condo's guard house?
- How to prevent their neighbours walking to their door to want to talk to them, complain this and that?
- Their cars can get vandalized by people not happy with them in the condo's common car park without anybody knowing?
- When they go in and out of the estate, it is so much easier for people to monitor their movements as residents in the condo, and also their movements recorded by CCTV of the condos.
- Condo security guards may get bribed to monitor them then to guard the condo? Who know what additional things they can do when given a big stash of cash?

In summary, there are many disadvantages to them to live in condo as above, so landed housing is the best choice, even if it is a semi-D also better than condo.

I agree there is some truth to your argument.

But do you think they may have also acted in their self interest by simply buying something finite instead of something that is potentially infinite in the long term? You can only erect 1 landed property but you can built many units of apartments on that same plot of land, mostly depending on plot ratio and future technological advances in engineering. As our population grows, our housing can only grow vertically. So landed property will become increasingly scarce over time as URA has already designated certain areas for landed property only in their Masterplan. It's the basic economic principle of demand and supply. I am sure they can figure it out.

clemdale

31-07-11, 08:28

Ahhh.. no way. Whereabouts in D15 is this Semi-D? I'm thinking Meyer/Goodman/Jalan Seaview area...

I spoke to early,
Brand New Semi D at D 15 now going from 6.9M onwards (2000psf)

Unbelieveable:doh:

land118

31-07-11, 09:10

I spoke to early,
Brand New Semi D at D 15 now going from 6.9M onwards (2000psf)

Unbelieveable:doh:

Is this the one? Listed in property guru

http://www.propertyguru.com.sg/listing/5383274/for-sale-brand-new-semi-d-poole-road

clemdale

31-07-11, 11:18

That has to be the one. That IS luxurious! Basement + attic, lift etc lol this house redefines semi-ds. Definitely gives me some ideas on what my future house can look like hahhahaa. The land area is decent (3400sf) but the built in is just humongous (6000sf) wow.. doesn't look like it's got much of a garden though.

Is this the one? Listed in property guru

http://www.propertyguru.com.sg/listing/5383274/for-sale-brand-new-semi-d-poole-road

DC33_2008

31-07-11, 11:26

Wow! Lift in the house. Not cheap to maintain. URA has relax the rules which allows for more flexibility for designer.
That has to be the one. That IS luxurious! Basement + attic, lift etc lol this house redefines semi-ds. Definitely gives me some ideas on what my future house can look like hahhahaa. The land area is decent (3400sf) but the built in is just humongous (6000sf) wow.. doesn't look like it's got much of a garden though.

kingkong1984

31-07-11, 11:59

Wow! Lift in the house. Not cheap to maintain. URA has relax the rules which allows for more flexibility for designer.
Wait for those near Sembawang park.. New guidelines... New designs.

DC33_2008

31-07-11, 12:40

Wait for those near Sembawang park.. New guidelines... New designs.
Too far.:beats-me-man:

kingkong1984

31-07-11, 13:19

Too far.:beats-me-man:
Precisely plus lh99.... Next sentosa cove? Sembawang cove.. Wahaha

DC33_2008

31-07-11, 14:38

The selling point will be close to greenery like miltona with the view of golf courses and giving free club membership for 2 years. All the gimmicks!!
Precisely plus lh99.... Next sentosa cove? Sembawang cove.. Wahaha

proud owner

01-08-11, 09:26

That has to be the one. That IS luxurious! Basement + attic, lift etc lol this house redefines semi-ds. Definitely gives me some ideas on what my future house can look like hahhahaa. The land area is decent (3400sf) but the built in is just humongous (6000sf) wow.. doesn't look like it's got much of a garden though.

these have been around for at least 4-5 yrs ...
so no big deal

the side view will be gone, once its neighbour builds higher ...

and i HATE having stairs leading to front door .. let alone this one has 10-12 steps ..

Duku

01-08-11, 09:39

Wait for those near Sembawang park.. New guidelines... New designs.
Where to get a copy of the new guidelines?

Yep this is the trendsetter.
If it is sold at the ask price, surrounding landed will definately be very happy

proper-t

04-08-11, 11:33

Interesting updates for Jul transactions....

1. Semi-D at Coldstream Avenue sold for $1414psf

2. Detached house at Siglap Bank sold for $1418 psf

kingkong1984

04-08-11, 13:32

Where to get a copy of the new guidelines?

Yep this is the trendsetter.
If it is sold at the ask price, surrounding landed will definately be very happy

http://www.ura.gov.sg/dc/connect/connect11-01/

http://www.ura.gov.sg/sales/SbwPh3/Sbw-EnvelopControl.htm

https://www.ura.gov.sg/pr/graphics/2010/pr10-108c.pdf

Fisherman

04-08-11, 16:34

Interesting updates for Jul transactions....

1. Semi-D at Coldstream Avenue sold for $1414psf

2. Detached house at Siglap Bank sold for $1418 psf

Moving higher and higher!:D :D :D

clemdale

04-08-11, 16:47

Aren't Goodman/Meyer/Jln Seaview better locations than Siglap/Frankel/Coldstream etc? Damn I wonder how much those prime D15 landed housing areas are looking at now...

Moving higher and higher!:D :D :D

xebay11

04-08-11, 20:13

Aren't Goodman/Meyer/Jln Seaview better locations than Siglap/Frankel/Coldstream etc? Damn I wonder how much those prime D15 landed housing areas are looking at now...

Goodman and Meyer, not so well connected to the beach and two expressways like PIE and ECP. Also Siglap areas more exclusive and residential...with nice hills and views.

clemdale

05-08-11, 00:10

I disagree. Goodman/Meyer/Jln Seaview are way closer to the city. You can easily access the ECP via Fort Rd, or alternatively you can take Nicoll Highway. How is Siglap more exclusive? Sure the houses there are nice, but I think those at Goodman/Meyer beats those hands-down lol... Also, they are closer to Parkway than Siglap, which is close to, umm.. can't think of anything.

Lastly, Meyer/Jln Seaview might see the ERL reach them with a Meyer station and an Amber station within the vicinity. On the other hand, Siglap has poorer transportation access, and only Kembangan MRT which in all honesty is not considered near at all to Siglap. So in conclusion, I reckon if those are the prices that Siglap is fetching for Semi-Ds and detached houses, prime D15 areas such as Goodman/Meyer/Jln Seaview can demand even higher prices.

Goodman and Meyer, not so well connected to the beach and two expressways like PIE and ECP. Also Siglap areas more exclusive and residential...with nice hills and views.

land118

05-08-11, 00:31

I disagree. Goodman/Meyer/Jln Seaview are way closer to the city. You can easily access the ECP via Fort Rd, or alternatively you can take Nicoll Highway. How is Siglap more exclusive? Sure the houses there are nice, but I think those at Goodman/Meyer beats those hands-down lol... Also, they are closer to Parkway than Siglap, which is close to, umm.. can't think of anything.

Lastly, Meyer/Jln Seaview might see the ERL reach them with a Meyer station and an Amber station within the vicinity. On the other hand, Siglap has poorer transportation access, and only Kembangan MRT which in all honesty is not considered near at all to Siglap. So in conclusion, I reckon if those are the prices that Siglap is fetching for Semi-Ds and detached houses, prime D15 areas such as Goodman/Meyer/Jln Seaview can demand even higher prices.Agree, it's quite simple, whether one place is considered more prime/more in demand, just look at the average pricing by psf (land)..quite clear that market rank Meyer/Jalan Seaview higher than Siglap.

Throttle

07-08-11, 23:18

That has to be the one. That IS luxurious! Basement + attic, lift etc lol this house redefines semi-ds. Definitely gives me some ideas on what my future house can look like hahhahaa. The land area is decent (3400sf) but the built in is just humongous (6000sf) wow.. doesn't look like it's got much of a garden though.

this is one of the ugliest new Semi Ds i've seen....

:doh:

clemdale

08-08-11, 00:30

Haha, ok, externally I agree its not that nice. In fact, it looks really plain and somewhat boring (and ugly). But can u imagine having a house with a basement and attic, altogether 4 stories with a private lift? That was what i meant when i said it was luxurious hahahaha - i dont have bad taste! And I thought there wasnt a garden, but i just realised that the garden is on the roof, which is cool, but I prefer a regular sized garden outside the house to make it feel more homely. Anyway, $6.9mil is way crazy, but surely those residents in the Goodman/Jln Seaview/Meyer area must be laughing should this house be sold at anywhere close to that figure. Prices in prime D15 are really starting to go sky high.

this is one of the ugliest new Semi Ds i've seen....

:doh:

Duku

11-08-11, 16:29

Another Goodman GEM
Dont Miss
4300 sq ft BUNGLOW at only 8.68M
http://www.propertyguru.com.sg/listing/3508988/for-sale-goodman-road-fh-bungalow

Lelong lelong

there is Gold in the Good Man

bullman

11-08-11, 16:57

Another Goodman GEM
Dont Miss
4300 sq ft BUNGLOW at only 8.68M
http://www.propertyguru.com.sg/listing/3508988/for-sale-goodman-road-fh-bungalow

Lelong lelong

there is Gold in the Good Man

Seems more like a small detached rather than a bungalow. $2000 psf for land. What a great deal, for the builder/developer.

I seem to notice the increasing trend of land psf asking prices in CCR and RCR. I do not monitor RCR closely. Most owners hope/pray to hook a big one this time round and retire/migrate for good. The joke is that there are really such deals done in D9 and D15 previously. Lately, an increase in D10/11 as well. I guess these buyers are really flush with cash.

Duku

12-08-11, 10:10

Seems more like a small detached rather than a bungalow. $2000 psf for land. What a great deal, for the builder/developer.

I seem to notice the increasing trend of land psf asking prices in CCR and RCR. I do not monitor RCR closely. Most owners hope/pray to hook a big one this time round and retire/migrate for good. The joke is that there are really such deals done in D9 and D15 previously. Lately, an increase in D10/11 as well. I guess these buyers are really flush with cash.

I guess with new citizens , such prices are not necessary a joke. It's eye popping for sure, but it may be a new reality

With QE 3 in mind in 2012, more hot money will flow to Asia especially AAA grated Singapore. Like it or not, even with a downturn, property prices should not correct too much.

As for landed, it may be a citzens only playground, but it does not exclude new citizens or PR ( for the smaller landed). With singapore welcoming more talents especially from neighbouring areas, landed may be the hidden gem for the future.

Just look at HK Landed price.
http://www.squarefoot.com.hk/property/7538521
Even a smallish Terrace is going for 3500 psf in Kowloon
This is a 6.4M property on a 1800 sqft
I believe this is not even a brand new unit
Taking this into account, Singapore landed is still cheap
Even compared to surrounding condo going for 2000psf in Goodman.
space in the air should not worth more than space on the ground.
:ashamed1:

devilplate

12-08-11, 10:17

even though i miss landed BIG BIG TIME, but if land price continues to go up at such a rate, it will certainly help to push up all other segment's land value as well....more enbloc on the way?

devilplate

12-08-11, 10:20

Taking this into account, Singapore landed is still cheap
Even compared to surrounding condo going for 2000psf in Goodman.
space in the air should not worth more than space on the ground.
:ashamed1:

THIS IS VERY VERY MISLEADING! dun have to be so 'over' rite?

plot ratio my dear fren

land118

12-08-11, 10:25

Another Goodman GEM
Dont Miss
4300 sq ft BUNGLOW at only 8.68M
http://www.propertyguru.com.sg/listing/3508988/for-sale-goodman-road-fh-bungalow

Lelong lelong

there is Gold in the Good Man There is no transction at Goodman Road is 2011 but recent transaction in this area like Broadwick & Arthur Road is about $1.6kpsf

LANDED HOUSING DEVELOPMENT ARTHUR ROADDetached House18,000,0004,799Land 1,667 Mar-11
LANDED HOUSING DEVELOPMENT BROADRICK ROADDetached House17,000,0004,306Land 1,626 Feb-11LANDED HOUSING DEVELOPMENT BROADRICK ROADDetached House19,000,0005,895Land 1,527 May-11

Duku

12-08-11, 10:46

THIS IS VERY VERY MISLEADING! dun have to be so 'over' rite?

plot ratio my dear fren

My Fren DP

If t landed has a plot ratio of 1.4
Assumming surrounding Condo going for 2 K psf (by the way 2 K is a hypothetical figure) , should land itself be worth at least 2 K?
If plot ratio is price in , then it should even be higher at 2.8K psf .
You may have a higher plot ratio in condo, for eg 2.8, but you share this with 10 to 20 others vs landed plot ratio of 1.4 all by yourself

but I give it a discount for 2 reasons
1) Only Singaporeans can buy landed, so catchement not as wide as condo
2) No Facilities

Not Over hyping landed. Just think value wise , it is still relatively cheaper by 20 to 40% when we are just comparing possible living space

But one caveat, some smaller inter-terrace have already played catched with Condo base on land-size. They 'cheated' with higher build-in :)
Value would be those bigger land with underutilize plot ratio. (IMHO)

devilplate

12-08-11, 10:49

My Fren DP

If the landed has a plot ratio of 1.4
Assumming surrounding Condo going for 2 K psf (by the way 2 K is a hypothetical figure) , should land itself be worth at least 2 K. If plot ratio is price in , then it should even be higher at 2.8K psf .

but I give it a discount for 2 reasons
1) Only Singaporeans can buy landed, so catchement not as wide as condo
2) No Facilities

:ashamed1:

u compare condo(air space after factoring in plot ratio) selling PSF with landed(land) PSF which is misleading....nid to work backwards to the basic land price component for condos to make a fairer comparison!

another way to look at it is to compare the condo enbloc prices(whereby developers is actually paying solely for the LAND of the condo) with nearby landed prices

land118

12-08-11, 11:02

Another Goodman GEM
Dont Miss
4300 sq ft BUNGLOW at only 8.68M
http://www.propertyguru.com.sg/listing/3508988/for-sale-goodman-road-fh-bungalow

Lelong lelong

there is Gold in the Good Man

Next lane, land asking only less than $1.3k+psf..., Negotiable

http://www.propertyguru.com.sg/listing/5607310/for-sale-land-boscombe-road
Land Only For Sale - Land Boscombe Road (D15) (http://forums.condosingapore.com/listing/5607310/for-sale-land-boscombe-road)

S$ 6,888,888 (Negotiable)
S$ 1,299.79 psf (land)
5300 sqft / 492 sqm (land)
Boscombe Road, East Coast / Marine Parade, East Coast (D15-16)

Corner FH land for sale*

-Approx. 5300 sqft
-Corner
-Part of plot size 10,943 sqft
-Possible to purchase entire plot at above $16M

bullman

12-08-11, 11:08

I guess with new citizens , such prices are not necessary a joke. It's eye popping for sure, but it may be a new reality

With QE 3 in mind in 2012, more hot money will flow to Asia especially AAA grated Singapore. Like it or not, even with a downturn, property prices should not correct too much.

As for landed, it may be a citzens only playground, but it does not exclude new citizens or PR ( for the smaller landed). With singapore welcoming more talents especially from neighbouring areas, landed may be the hidden gem for the future.

Just look at HK Landed price.
http://www.squarefoot.com.hk/property/7538521
Even a smallish Terrace is going for 3500 psf in Kowloon
This is a 6.4M property on a 1800 sqft
I believe this is not even a brand new unit
Taking this into account, Singapore landed is still cheap
Even compared to surrounding condo going for 2000psf in Goodman.
space in the air should not worth more than space on the ground.
:ashamed1:

I think the terraces in my area will hit $3000 land psf soon. Last done in July at Jintan is around $2700 psf. A unit at Elok is asking for $3200 psf. Lets see if it will be the first unit to break $3000 psf.

devilplate

12-08-11, 11:10

bullman

12-08-11, 11:16

hard to compare land prices also but if using above land prices at 1300psf and assuming a plot ratio of 1.4....den shd translates to about 930psf ppr......so nearby condo can fetch enbloc price of 930psf ppr now?

duno it make sense to compare it this way anot....whahahaha

This way to compare will give a rough gauge at most.

There are 2 critical factors:

1) Most landed are governed by a PR of 1.4, but due to the limitation of the land plot with set-back taken into account, most landed housing's GFA do not even reach 1.4. On the other hand, developers will maximise GFA definitely.

2) On a PSF PPR basis, the actual land size and quantum of land acquired was not taken into account which may severely distort the picture.

Just my random thoughts.

devilplate

12-08-11, 11:28

This way to compare will give a rough gauge at most.

There are 2 critical factors:

1) Most landed are governed by a PR of 1.4, but due to the limitation of the land plot with set-back taken into account, most landed housing's GFA do not even reach 1.4. On the other hand, developers will maximise GFA definitely.

2) On a PSF PPR basis, the actual land size and quantum of land acquired was not taken into account which may severely distort the picture.

Just my random thoughts.

i agree with u......but i tink comparing based on psf ppr is the most accurate liao lor:2cents: :D

tats y i pointed out DUKU comment is very misleading.....cannot simply compare condo and landed psf to justify which has more 'value'

on point number 1: there r smaller terraces wif built up more den 1.4 GFA

Duku

12-08-11, 11:30

u compare condo(air space after factoring in plot ratio) selling PSF with landed(land) PSF which is misleading....nid to work backwards to the basic land price component for condos to make a fairer comparison!

another way to look at it is to compare the condo enbloc prices(whereby developers is actually paying solely for the LAND of the condo) with nearby landed prices

Bro DP, you are confusing me:)
Of course you cannot compare land price of condo and landed given the different plot ratio.

And I am comparing liveable space. Dont think it is misleading this way.
Unless I am getting something wrong here. Perhaps you can give me an example . Will be willing to be corrected if the 'maths' is wrong. That way I would not mislead myself.

you can use the example I illustrated earlier
Assuming land size at 4000 square with plot ratio of 1.4
Vs a condo unit of plot ratio 2.8 selling at 2000psf
(Let's make it simpler by saying land size is also 4000 psf for the condo , which I know sound ridculous)

What is the fair price of the landed ?

devilplate

12-08-11, 11:34

Bro DP, you are confusing me:)
Of course you cannot compare land price of condo and landed given the different plot ratio.

And I am comparing liveable space. Dont think it is misleading this way.
Unless I am getting something wrong here. Perhaps you can give me an example . Will be willing to be corrected if the 'maths' is wrong. That way I would not mislead myself.

you can use the example I illustrated earlier
Assuming land size at 4000 square with plot ratio of 1.4
Vs a condo unit of plot ratio 2.8 selling at 2000psf
(Let's make it simpler by saying land size is also 4000 psf for the condo , which I know sound ridculous)

What is the fair price of the landed ?

i duno how to answer.....

i believe we can only justify based on psf ppr.....other den tat, its non conclusive at all

watever reasons u gave, i can counter with many other reasons bcoz its purely subjective and based on our perceived values of condo vs landed

Duku

12-08-11, 11:37

Next lane, land asking only less than $1.3k+psf..., Negotiable

http://www.propertyguru.com.sg/listing/5607310/for-sale-land-boscombe-road
Land Only For Sale - Land Boscombe Road (D15) (http://forums.condosingapore.com/listing/5607310/for-sale-land-boscombe-road)

Land only bro, no building!

devilplate

12-08-11, 11:40

its endless to tok abt livable psf.

u bot a old old landed rebuild it to max(especially URA had relaxed landed regulations and u can actually built up more den the total GFA based on our assumption of 1.4 plot ratio).....den using the built up psf and compare it with MM apts nearby selling psf.....MM built in psf cfm alot more! but is it conclusive to say tat landed is undervalued?

land118

12-08-11, 11:41

i agree with u......but i tink comparing based on psf ppr is the most accurate liao lor:2cents: :D

tats y i pointed out DUKU comment is very misleading.....cannot simply compare condo and landed psf to justify which has more 'value'

on point number 1: there r smaller terraces wif built up more den 1.4 GFA Guys, u may want to read up URA development handbook parameters for residential development under Part 1 section 3, "Landed Housing"

http://www.ura.gov.sg/circulars/text/dcdrhb_d0e4.htm

Depending on Master Plan 2008 ( http://www.ura.gov.sg/mp08/map.jsf?goToRegion=SIN ), it may not be 1.4, u have to check which area. Example, for the Goodman road area, Master plan is for landed housing, so not bounded by plot ratio 1.4, but if u go opposite at Dunman side, some plot indicate 1.4 ratio, those if u have able to acquire large enough landed parcel of say 10k sqft, u may develop into MM. For Master plan designated area for landed housing, u can only sub-divide or build cluster housing, can't convert them into MM apartment...

So sometimes, buying landed, best to check ura Master Plan, because even though the house you want to buy, the neighbour are all landed, but if Master Plan 2008 indicate for e.g. 1.4 plot ratio, mean if some developer come and buy a few houses in a row, they can convert the land into MM apartment with plot ratio 1.4. This is my understanding...

Duku

12-08-11, 11:41

i duno how to answer.....

i believe we can only justify based on psf ppr.....other den tat, its non conclusive at all

watever reasons u gave, i can counter with many other reasons bcoz its purely subjective and based on our perceived values of condo vs landed

Agreed .
I have not factor construction cost for the land itself. Just realise that so flaw in comparison.

Nevertheless if we compare to HK, our land is indeed cheap. Given similar characteristic with HK ( Limited land, overpopulated, Global hub , etc ,etc)
To sell at a discounted price of 30% to HK is indeed an eye opener.

But then again Iskandar (JB)is price way below Singapore. So not apples to apples :) .

devilplate

12-08-11, 11:43

Guys, u may want to read up URA development handbook parameters for residential development under Part 1 section 3, "Landed Housing"

http://www.ura.gov.sg/circulars/text/dcdrhb_d0e4.htm

Depending on Master Plan 2008 ( http://www.ura.gov.sg/mp08/map.jsf?goToRegion=SIN ), it may not be 1.4, u have to check which area. Example, for the Goodman road area, Master plan is for landed housing, so not bounded by plot ratio 1.4, but if u go opposite at Dunman side, some plot indicate 1.4 ratio, those if u have able to acquire large enough landed parcel of say 10k sqft, u may develop into MM. For Master plan designated area for landed housing, u can only sub-divide or build cluster housing, can't convert them into MM apartment...

So sometimes, buying landed, best to check ura Master Plan, because even though the house you want to buy, the neighbour are all landed, but if Master Plan 2008 indicate for e.g. 1.4 plot ratio, mean if some developer come and buy a few houses in a row, they can convert the land into MM apartment with plot ratio 1.4. This is my understanding...

we noe .....if purely designated as landed...no PR lor....tats y we assume a figure of 1.4 lor

land118

12-08-11, 11:52

we noe .....if purely designated as landed...no PR lor....tats y we assume a figure of 1.4 lor Ok, u are right, some small plot of terrace, say 1800 sqft, build 2.5 sty, built-in of 4000sqft, plot ratio easily more than 1.4...

Actually, some are even building 1 basement to further max out the land...

Duku

12-08-11, 11:55

I think the terraces in my area will hit $3000 land psf soon. Last done in July at Jintan is around $2700 psf. A unit at Elok is asking for $3200 psf. Lets see if it will be the first unit to break $3000 psf.
Elok is prime prime land

Would not be surprise if it breach $3000 soon

Duku

12-08-11, 11:58

Ok, u are right, some small plot of terrace, say 1800 sqft, build 2.5 sty, built-in of 4000sqft, plot ratio easily more than 1.4...

Actually, some are even building 1 basement to further max out the land...

Many ways to skin the cat
Some agent told me open Terrace is considered as build in, but URA close an eye.
I think they are confuse with build up and build in
In many ways, they confuse me too....

land118

12-08-11, 12:02

Elok is prime prime land

Would not be surprise if it breach $3000 soon Ya, that super prime..., check ura website, in June 2011 already breached the $3k mark at $3212 psf

LANDED HOUSING DEVELOPMENT JALAN ELOKTerrace House1 5,300,000 1,650 Land 3,212 Jun-11

Another one at property guru website, asking even higher liao:

http://www.propertyguru.com.sg/listing/5599471/for-sale-jalan-elok

Terraced House For Sale - Jalan Elok (D09) (http://forums.condosingapore.com/listing/5599471/for-sale-jalan-elok)

S$ 6,380,000 (Negotiable)
S$ 3,861.99 psf (land)
1652 sqft / 153 sqm (land)
Orchard / River Valley, Orchard / Holland (D09-10)

devilplate

12-08-11, 12:05

Many ways to skin the cat
Some agent told me open Terrace is considered as build in, but URA close an eye.
I think they are confuse with build up and build in
In many ways, they confuse me too....

so far for landed, agts always quote me total built up which include PES, open terraces etc etc.....u ask them about actual livable built in....they will stomp feet and say i duno.....hehe....not unless the seller did a formal valuation which will include actual built in?

proud owner

12-08-11, 12:10

devilplate

12-08-11, 12:21

what prompted me to buy landed in the early 2000s ... was the thought of
" Why pay so high for air space ? "

it was a good thought...no regrets ...

landed may not have moved as quickly or as much as condos .. but it holds it value alot better

see...purely subjective and based on individual perceived values:D

landed had moved much much faster since 09 recovery! i overlooked landed due to rental yield which leads to cash flow equation......capital appreciation is the sole determinant and rental yield is nvr part of the equation for landed investment

chho

12-08-11, 12:22

Ya, that super prime..., check ura website, in June 2011 already breached the $3k mark at $3212 psf

LANDED HOUSING DEVELOPMENT JALAN ELOKTerrace House1 5,300,000 1,650 Land 3,212 Jun-11

Another one at property guru website, asking even higher liao:

http://www.propertyguru.com.sg/listing/5599471/for-sale-jalan-elok

Terraced House For Sale - Jalan Elok (D09) (http://forums.condosingapore.com/listing/5599471/for-sale-jalan-elok)

S$ 6,380,000 (Negotiable)
S$ 3,861.99 psf (land)
1652 sqft / 153 sqm (land)
Orchard / River Valley, Orchard / Holland (D09-10)

It's quite amazing the prices of landed properties right next to the hospital and high rise condos is so high!:scared-1: Even if you don't care about paying for ERP, the traffic situation in this small landed enclave is often challenging. Perhaps the emerald hill shophouses boast a nicer living environment?:confused:

devilplate

12-08-11, 12:24

chho

12-08-11, 12:34

they r paying for the LAND

Yes they are but should we not take into consideration "the living environment" since the usage of the "land" in question can never be changed to eg: condos/hotels? It will always be landed next to the hospital with a traffic problem. Eg:One tree hill, a landed enclave in the same vicinity, may be overall more attractive, considering the living environment.

devilplate

12-08-11, 12:39

Yes they are but should we not take into consideration "the living environment" since the usage of the "land" in question can never be changed to eg: condos/hotels? It will always be landed next to the hospital with a traffic problem. Eg:One tree hill, a landed enclave in the same vicinity, may be overall more attractive, considering the living environment.

i am not familiar ..... nvr bio landed in D9 b4! no $$$:ashamed1:

i shd ask u the question instead.....hehe

bullman

12-08-11, 12:50

bullman

12-08-11, 12:54

It's quite amazing the prices of landed properties right next to the hospital and high rise condos is so high!:scared-1: Even if you don't care about paying for ERP, the traffic situation in this small landed enclave is often challenging. Perhaps the emerald hill shophouses boast a nicer living environment?:confused:

I spoke about the traffic situation over at my area earlier, its indeed a challenge but I guess its really about how much you like the area and your personal threshold which are arbitrary factors.

As the name "shophouse" suggest, its not the exclusive playing ground of "we are singaporeans". Land psf prices over at EH are done at ard 4500-5000 psf. Thats the price to pay when its not "exclusive".

chho

12-08-11, 12:57

i am not familiar ..... nvr bio landed in D9 b4! no $$$:ashamed1:

i shd ask u the question instead.....hehe

I don't own any landed in D9 either (how many do???!!!) but I am have been thinking about buying a small landed not too far from town. So I have been doing some research and saving like mad.

A couple of friends bit the bullet recently and they have been encouraging me to take the plunge citing factors like you can never time the market and landed is a sure win in the long run, blah, blah, blah... I am still thinking about it.:)

bullman

12-08-11, 13:07

Guys, u may want to read up URA development handbook parameters for residential development under Part 1 section 3, "Landed Housing"

http://www.ura.gov.sg/circulars/text/dcdrhb_d0e4.htm

Depending on Master Plan 2008 ( http://www.ura.gov.sg/mp08/map.jsf?goToRegion=SIN ), it may not be 1.4, u have to check which area. Example, for the Goodman road area, Master plan is for landed housing, so not bounded by plot ratio 1.4, but if u go opposite at Dunman side, some plot indicate 1.4 ratio, those if u have able to acquire large enough landed parcel of say 10k sqft, u may develop into MM. For Master plan designated area for landed housing, u can only sub-divide or build cluster housing, can't convert them into MM apartment...

So sometimes, buying landed, best to check ura Master Plan, because even though the house you want to buy, the neighbour are all landed, but if Master Plan 2008 indicate for e.g. 1.4 plot ratio, mean if some developer come and buy a few houses in a row, they can convert the land into MM apartment with plot ratio 1.4. This is my understanding...

Hi buddy,

Thanks for the clarification. I guess the guys here are able to differentiate the classification of " mixed landed housing" , "designated landed housing" etc under the URA MP2008.

The points that we were discussing are generic in nature. If we go into specifics, there are mixed landed area with PR of 1.6 and even 2.8.

Also, its not easy for developer to buy a few IT in a row and just build a MM apartment as there are "breakaway " issues etc to be considered under URA ruling. Most will either buy up the entire row or a regular detached.