View Full Version : Landed homes' price growth outpace non-landed in Q3: DTZ
Landed homes' price growth outpace non-landed in Q3: DTZ
By CARINE LEE
Singapore landed home prices grew at a higher rate than that of non-landed homes in the third quarter of 2011, said DTZ Research.
The limited availability of landed homes drove the average resale price of leasehold landed homes in non-prime districts up 3.8 per cent quarter-on-quarter, while non-landed leasehold condominiums in suburban areas grew at a slower pace of 2.5 per cent quarter-on-quarter.
Freehold landed homes in the prime districts of 9, 10 and 11 saw a quarter-on-quarter price increase of 2.8 per cent in Q3. In contrast, the average resale price of luxury condominiums in the prime districts of 9, 10 and 11 were unchanged in Q3.
According to DTZ Research, primary home sales averaged 1,373 units per month in July and August, slightly above the monthly average of 1,358 units over the last four quarters from Q3 2010 to Q2 2011.
Secondary home sales averaged 1,278 units per month in July and August, which was 23.2 per cent lower than the monthly average of 1,665 units sold in the secondary market from Q3 2010 to Q2 2011.
DTZ notes that as the lodging of caveats is voluntary and can be delayed, the number of secondary units actually sold in the secondary market could be higher.
'As many of these buyers are buying for owner-occupation and investment beyond four years due to the seller's stamp duty measure, they probably take a longer-term view and are thus less worried about the current global economic uncertainties. However, if the global outlook worsens and the economy continues to slow down, this will eventually affect buying sentiment and lead to less exuberant purchase activity,' said Chua Chor Hoon, head of DTZ SEA Research.
Landed provides better investment security than condos during uncertain times like now... simple fact! :o
Beware of buying old houses and renovate them. Someone bought an old terrace house in Pasir Ris for $1.3mil and wanted to renovate the place for $300k. Contractor ran away with the 1st downpayment of $80k. Lose big time. :scared-4:
Landed provides better investment security than condos during uncertain times like now... simple fact! :o
Beware of buying old houses and renovate them. Someone bought an old terrace house in Pasir Ris for $1.3mil and wanted to renovate the place for $300k. Contractor ran away with the 1st downpayment of $80k. Lose big time. :scared-4:
Is to beware of such contractors.. and is not to beware of buying old houses and renovate them lor:cool:
buttercarp
09-10-11, 21:36
Is to beware of such contractors.. and is not to beware of buying old houses and renovate them lor:cool:
Haiz......That's a big headache.
Need to have contacts to get trust worthy contractors.
So buy new landed solve all the trouble:) !
My agent told me Pavilion Park preview today, likely launching next weekend.
Prices for 1700+ sq feet inter terrace starts at 2.37 mil.
Heng ar... lucky bought earlier!
Landed provides better investment security than condos during uncertain times like now... simple fact! :o
why do you say that?
My agent told me Pavilion Park preview today, likely launching next weekend.
Prices for 1700+ sq feet inter terrace starts at 2.37 mil.
Heng ar... lucky bought earlier!
Hi buttercarp,
Do you know whether units in the new launch would be North-South facing? If so, that explains the higher price. Yours would be West or SW facing, right? We went to see also, but was turned off by the W/ SW facing which is not suitable for us.
Is to beware of such contractors.. and is not to beware of buying old houses and renovate them lor:cool:
Better to pay the premium and buy a newly built or fully renovated house. Less headaches. I have been down the rebuilt route and dealing with contractors and planning approvals can be a big pain in the a--
buttercarp
10-10-11, 13:16
Hi buttercarp,
Do you know whether units in the new launch would be North-South facing? If so, that explains the higher price. Yours would be West or SW facing, right? We went to see also, but was turned off by the W/ SW facing which is not suitable for us.
The new phase is still west facing.
It is a continuation of the previous phase, along the same row.
Yup mine is directly facing west.
Initially didn't like the idea of a west facing house, but other than its facing the rest of the factors were ideal for us.
If you want NS facing then wait till this phase is over, then i think the later phase will no longer have EW facing.
But I believe the pricing will be even higher than this phase.
If not then you get from the subsale.
The last I heard was someone trying to sell an inter terrace for $2.42mil!
I guess he can increase his price if he had sold yet.
Sun-shading devices and double-glazed low E glass for windows/ sliding doors may be needed. Otherwise, air-conditioning will take a while to cool down the place with heat stored in the wall re-radiated back to the space at night.
The new phase is still west facing.
It is a continuation of the previous phase, along the same row.
Yup mine is directly facing west.
Initially didn't like the idea of a west facing house, but other than its facing the rest of the factors were ideal for us.
If you want NS facing then wait till this phase is over, then i think the later phase will no longer have EW facing.
But I believe the pricing will be even higher than this phase.
If not then you get from the subsale.
The last I heard was someone trying to sell an inter terrace for $2.42mil!
I guess he can increase his price if he had sold yet.
buttercarp
10-10-11, 13:50
Sun-shading devices and double-glazed low E glass for windows/ sliding doors may be needed. Otherwise, air-conditioning will take a while to cool down the place with heat stored in the wall re-radiated back to the space at night.
The agent said there will be special glass coat for the front windows, ie west facing windows.
When I ask my lawyer to confirm with the developer when I signed the Sales and Purchase agreement, cos it was not stated in the agreement, I have not received a reply.
why do you say that?Landed has shown itself to be more resilient to price fluctuation during the last recession. Can't remember the exact figures but heard it mentioned before! :o
Congrats on your purchase, what are the pros and cons of Pavilion Park vs Luxus Hills? Suppose yours is under $2M. Furnishing wise, LH seems to be better by a bit, at least from the show room? Current phase 5 for Luxus Hills are all N-S facing, correct?
The new phase is still west facing.
It is a continuation of the previous phase, along the same row.
Yup mine is directly facing west.
Initially didn't like the idea of a west facing house, but other than its facing the rest of the factors were ideal for us.
If you want NS facing then wait till this phase is over, then i think the later phase will no longer have EW facing.
But I believe the pricing will be even higher than this phase.
If not then you get from the subsale.
The last I heard was someone trying to sell an inter terrace for $2.42mil!
I guess he can increase his price if he had sold yet.
buttercarp
10-10-11, 22:34
Congrats on your purchase, what are the pros and cons of Pavilion Park vs Luxus Hills? Suppose yours is under $2M. Furnishing wise, LH seems to be better by a bit, at least from the show room? Current phase 5 for Luxus Hills are all N-S facing, correct?
Nope, was not lucky enough to get the under $2m ones which were in the older phase and NS facing.
At that time, dunno what i was doing, looking around but did not seriously think of buying as I thought the prices would come down.
Then I finally decided on buying one as I realized that these big developers would not reduce the prices. If there is a price correction , then they simply hold on and not launch.
I did not want the trouble of buying an old place and do A&A.
It is too stressful for me.
Saw a couple of rebuilt terraces, but the surroundings were so old, and the prices were not cheap.
Given the choice (if prices were the same) I would have chosen Luxus Hills, but if you had read my previous posts, things did not turn out right for me with regards to luxus hills.
If you want a more exclusive feel, Pavilion Park is definitely the choice.
Also the inter terrace in the phase which I bought has a larger land area, which means the back yard feels like a real backyard, unlike Luxus Hills which only has a small strip of land behind the back yard.
However, in terms of convenience, Luxus Hills has more to offer, with supermarkets like Sheng Siong just a few metres away.
Luxus Hills does not have household shelter, Pavilion Park has one.
You are right. Luxus Hills seem to have better quality finishing.
However in the latest phase, the wet kitchen is so small and narrow.
You can take a bus to Yio Chu Kang MRT for Luxus Hill. Not sure about Pavilion.
buttercarp
11-10-11, 09:56
You can take a bus to Yio Chu Kang MRT for Luxus Hill. Not sure about Pavilion.
There are a few buses along Bukit Batok Road.
There is an LRT station about 600m away.
proud owner
11-10-11, 10:10
There are a few buses along Bukit Batok Road.
There is an LRT station about 600m away.
the land of each unit in Luxus only abt 1600 sqft ?
the land of each unit in Luxus only abt 1600 sqft ?Well, with 25 phases, you can still sell after 10 years together with the developers who will surely hold out the price for you. No worries! LOL! :D
buttercarp
11-10-11, 11:15
the land of each unit in Luxus only abt 1600 sqft ?
Luxus hills interterrace land area is 1615 sq feet.
Pavilion Park (phase1D which I bought) has varying land area cos the back yard are of different sizes as the units are built below a hill.
The unique feature is that in this phase and the latest phase, there is a lot of privacy in the backyard as it faces a hill.
Luxus hills interterrace land area is 1615 sq feet.
Pavilion Park (phase1D which I bought) has varying land area cos the back yard are of different sizes as the units are built below a hill.
The unique feature is that in this phase and the latest phase, there is a lot of privacy in the backyard as it faces a hill.
Good Fengshui, "kao san"...:D
I think it is a hill with underground bunkers for the Mindef. True?
buttercarp
12-10-11, 13:32
I think it is a hill with underground bunkers for the Mindef. True?
What do they do in the underground bunkers?
What do they do in the underground bunkers?
Secret....:D, but according to wikipedia
A military bunker is a hardened shelter, often buried partly or fully underground, designed to protect the inhabitants from falling bombs or other attacks. They were used extensively in World War I (http://forums.condosingapore.com/wiki/World_War_I), World War II (http://forums.condosingapore.com/wiki/World_War_II), and the Cold War (http://forums.condosingapore.com/wiki/Cold_War) for weapons facilities, command and control centers, and storage facilities (for example, in the event of nuclear war (http://forums.condosingapore.com/wiki/Nuclear_warfare)
What do they do in the underground bunkers?
In times of war, enemies will aim to take out run ways, telecomm stations, command center (!), etc.
buttercarp
12-10-11, 20:14
How come some houses have house hold shelters and some do not?
I thought houses built after a certain time are all required to have household shelter?
Pavilion park got, but luxus don't have.
Haiz......That's a big headache.
Need to have contacts to get trust worthy contractors.
So buy new landed solve all the trouble:) !
My agent told me Pavilion Park preview today, likely launching next weekend.
Prices for 1700+ sq feet inter terrace starts at 2.37 mil.
Heng ar... lucky bought earlier!
2.37 million...
I am the one who went the resale -> reno route. I did not have much headaches.
I thought it was much cheaper than buying new and I get to spend the extra 300k on reno the way I like it.
Example, I can design my living room, choose my marble, staircase, flooring, etc.
my living room
http://www.keehian.com/deco/dp_13.jpg
I can reno one of the room specifically for HT
http://www.keehian.com/deco/dp_01.jpg
much better than generic reno. I still have money left over for furnishings.
I also get a place with a much better location as old resale terraces usually are better located.
At that time, it was either Luxus hills or a resale unit in Lentor. Lentor is slightly cheaper by around 100k after you factor in the renovation.
Pros for luxus hills
1) more built-up area
Pros for Lentor
1) bigger land area
2) much better located in AMK (5 mins walk to my inlaws, 5 min drive to my parents)
3) able to reno to my personal liking.
4) slightly cheaper
buttercarp
12-10-11, 22:30
Hi wind30, I really like your neat no fuss design!
It would be good to be able to design your house your own way.
However I would think there is bound to be more headaches and stress.
Are you in some kind of construction, design or architectural line?
I do not have any contacts and worry that i would end up like the guy who was cheated by his contractor.
Nice design there, wind30. You get to rub shoulders with Khaw Boon Wan as well whom I believe is staying in your area.
Butter: did you buy first hand? I recall seeing Pavilion Park more than 1.5 years ago, AllGreen was already selling Phase 2D or 2E? Rumours go as well that the bunkers/hills have some missile (surface-to-air?) installations to protect our so many 1 to 3 star generals.
buttercarp
13-10-11, 12:29
Nice design there, wind30. You get to rub shoulders with Khaw Boon Wan as well whom I believe is staying in your area.
Butter: did you buy first hand? I recall seeing Pavilion Park more than 1.5 years ago, AllGreen was already selling Phase 2D or 2E? Rumours go as well that the bunkers/hills have some missile (surface-to-air?) installations to protect our so many 1 to 3 star generals.
Yup, I bought new one. TOP 2014.
Newest phase is 2G.
So is it good or no good to stay near the rumoured weapons?
Hi wind30, I really like your neat no fuss design!
It would be good to be able to design your house your own way.
However I would think there is bound to be more headaches and stress.
Are you in some kind of construction, design or architectural line?
I do not have any contacts and worry that i would end up like the guy who was cheated by his contractor.
nope. I hired back the person who did the reno for my condo 6 years back. She recommended her brother for the wetworks so it was pretty ok.
I think for contractor, you just have to use someone familiar, or recommended by close friends or relatives.
Actually even if you guy new, you still have to do some work right? Woodwork? cabinets?
For me, I changed some of the layout to suite my family by hacking down some walls and building new walls.
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