Value of landed property expected to rise next year

[Blue]

That's not right, landed drop is lower than condo in terms of percentage

There was a report I read and I myself witnessed as well that landed prices continued to appreciate gradually during the 2008 / 2009 financial crisis while high end condos had price corrections.

[devilplate]

There was a report I read and I myself witnessed as well that landed prices continued to appreciate gradually during the 2008 / 2009 financial crisis while high end condos had price corrections.

yes...certain segment of landed..not all across the island.....certain OCR condos din drop in prices during tat period as well...HDB prices aso nvr really drop too

its becoz landed ppty and OCR jus started to rise from mid 2007 and subprime crisis surfaced in oct07....they actually dun hf much meat or simply no meat to correct....

but given landed/OCR/HDB prices soared so much from 2007 till now....they will not be spared during next downturn

[proud owner]

Yup, luxus hills falls within one of my choices, given the limited choices...but I still prefer to find another landed in D5, D14 to D16, D9 to 11 which are the fringe of the city area. These districts are popular to rent out to expatriates, easily $7K per month.

D19 - Not really my cuppa for investment gain or rental yield, although it is getting more and more hot these days. Even Sembawang landed is asking higher prices nowadays.

Furthermore, a lot of folks bought Luxus Hills in early phases at only $1.6M. If you go in at $2.1M, u r already at great disadvantage. Moving in at the same time but paid $500K more than your neighbours.

Luxus hills got amenities ?

dont understand why people buy there ... behind it ..seletar ...at least have greenery ..

luxus like facing AMK industrial park leh

[devilplate]

Luxus hills got amenities ?

dont understand why people buy there ... behind it ..seletar ...at least have greenery ..

luxus like facing AMK industrial park leh

might as well bio those walkable to the new greenwich mall....hehe

[proud owner]

might as well bio those walkable to the new greenwich mall....hehe

u also agree with me right ?

i dunno whats the draw of Luxus hill ....

[bargain hunter]

that is really misleading. sigh. another one to report to CEA?

I called the agent marketing this pasir panjang unit. It's a bit misleading cos he is selling the land only which is approx. $987psf. Not including the rebuilt property. Nice pictures / design though.

[mantrix]

Yup, luxus hills falls within one of my choices, given the limited choices...but I still prefer to find another landed in D5, D14 to D16, D9 to 11 which are the fringe of the city area. These districts are popular to rent out to expatriates, easily $7K per month.

D19 - Not really my cuppa for investment gain or rental yield, although it is getting more and more hot these days. Even Sembawang landed is asking higher prices nowadays.

Furthermore, a lot of folks bought Luxus Hills in early phases at only $1.6M. If you go in at $2.1M, u r already at great disadvantage. Moving in at the same time but paid $500K more than your neighbours.

i was quoted 500psf for a corner terrace, 999LH...in the end i decided to give it a miss now...

[proud owner]

i was quoted 500psf for a corner terrace, 999LH...in the end i decided to give it a miss now...

dun think u shud bang your head on that lah ..

its not a great location imho

[mantrix]

dun think u shud bang your head on that lah ..

its not a great location imho

i bang my head cos i can sell easily now for 800psf if i buy mah

[Blue]

i bang my head cos i can sell easily now for 800psf if i buy mah

That's life. If you knew its a sure win, you would have sunk into it. Then there will be no beggars on the street.

[Blue]

u also agree with me right ?

i dunno whats the draw of Luxus hill ....

I guess the main draw of Luxus Hills was the price back then when it was first launched. Now even at $2M for a brand new inter-terrace is a steal cos everywhere else is selling $2.5M and abv.

You should check out Verdana Villas (cluster strata hses), that is highly demanded at avg sold price of $2.8M by looking at caveats lodged.

[devilplate]

I guess the main draw of Luxus Hills was the price back then when it was first launched. Now even at $2M for a brand new inter-terrace is a steal cos everywhere else is selling $2.5M and abv.

You should check out Verdana Villas (cluster strata hses), that is highly demanded at avg sold price of $2.8M by looking at caveats lodged.

i prefer verdana anytime

[Blue]

Wah, now i hv to fork out $1m cash downpayment for a $2.5m interterrace. Think can give up the idea for another 2 yrs to save enuf cash. Luckily bgt one oredi before this new measure is up.

[land118]

Last sunday, I went to see a few landed properties that have open house. Pricing owners asking all very high. Agents even said a few i enquired, in the afternoon, already sold, open house no more valid, gate closed. One property which i was interested in, gap between owner selling price & last offer was $280k, want to counter offer but wife stopped me. Now, i have to thank my wife..., gov measures tis time round really big surprise...nice CNY present for all.

[Blue]

Last sunday, I went to see a few landed properties that have open house. Pricing owners asking all very high. Agents even said a few i enquired, in the afternoon, already sold, open house no more valid, gate closed. One property which i was interested in, gap between owner selling price & last offer was $280k, want to counter offer but wife stopped me. Now, i have to thank my wife..., gov measures tis time round really big surprise...nice CNY present for all.

Well, I wouldn't say its a CNY present....those landed owners have the biggest capactiy / power to hold. So do you really think price will fall as a result of the cooling measures? In fact, it would sound more like a disincentive for folks who dream to own their landed hse and the dream now is delayed or shattered...

[land118]

Well, I wouldn't say its a CNY present....those landed owners have the biggest capactiy / power to hold. So do you really think price will fall as a result of the cooling measures? In fact, it would sound more like a disincentive for folks who dream to own their landed hse and the dream now is delayed or shattered...

I meant "nice", personally, i think landed will have only small impact, probably least affected, esp if it is a 999 or FH one. Most have holding power or are owner occupied. Even, those who are investors, most have deeper pockets.

[devilplate]

I meant "nice", personally, i think landed will have only small impact, probably least affected, esp if it is a 999 or FH one. Most have holding power or are owner occupied. Even, those who are investors, most have deeper pockets.

definitely will be affected....many landed sellers r asking way above valuation....so now they goto be realistic....sell close to valuation.....i pity those who bot way above value recently

[proper-t]

Well, I wouldn't say its a CNY present....those landed owners have the biggest capactiy / power to hold. So do you really think price will fall as a result of the cooling measures? In fact, it would sound more like a disincentive for folks who dream to own their landed hse and the dream now is delayed or shattered...

Tend to agree. Most of the owners would have bought their homes years ago so the SSD wouldn't apply to them. Furthermore, landed homes don't have monthly fees like condo maintenance or svc charges so other than ppty tax, there is minimal holding costs. Most of the junk dillapidated units I see are just left in that state as its the land that is valuable. These guys have huge holding power.

[proper-t]

definitely will be affected....many landed sellers r asking way above valuation....so now they goto be realistic....sell close to valuation.....i pity those who bot way above value recently

maybe its just me, but those landed I have been viewing don't seem to be in a hurry to sell. Most are old folks or owner occupiers who have been staying in them for years. Maybe those who will be affected are pure investors who buy, do-up or renovate and sell but don't think there are that many.

[land118]

definitely will be affected....many landed sellers r asking way above valuation....so now they goto be realistic....sell close to valuation.....i pity those who bot way above value recently

Actually, you will be surprised that valuation by Banks also gone up and probably able to give on a higher range value. The property that i saw that has a gap of $280k, Agent tell me 3 valuations by certains Banks able to meet owners asking even though for the same land size and build-up that this current owner built and sold in Nov 2010 was $280k less. So really, Banks actually was willing & able to accomodate this increase. But now, perhaps, Banks may value at the lower range.

[Blue]

When it comes to bank valuation for loan purposes, it's not about how much the purchase price is or how much the landed property is worth. It's about how much your pocket (income) can afford and sustain the monthly instalments.

[land118]

When it comes to bank valuation for loan purposes, it's not about how much the purchase price is or how much the landed property is worth. It's about how much your pocket (income) can afford and sustain the monthly instalments.

Yes, this is also another consideration. But if property u want to buy is say S$2mil, but bank that is extending the loan to u value @$1.9mil, of couse loan bank extending will be lower. Sure, they will also check your household income and if you are over gear, suppose you have a few loans already

[devilplate]

When it comes to bank valuation for loan purposes, it's not about how much the purchase price is or how much the landed property is worth. It's about how much your pocket (income) can afford and sustain the monthly instalments.

true if only taking 40-50% loan....

[devilplate]

Actually, you will be surprised that valuation by Banks also gone up and probably able to give on a higher range value. The property that i saw that has a gap of $280k, Agent tell me 3 valuations by certains Banks able to meet owners asking even though for the same land size and build-up that this current owner built and sold in Nov 2010 was $280k less. So really, Banks actually was willing & able to accomodate this increase. But now, perhaps, Banks may value at the lower range.

hmm...landed really increase so much ar....10-15%(assuming 2.5mil ppty) increase in valuation within 2mths?

[bargain hunter]

these pple chase up landed until out of our reach. they deserve it. hahaha.

definitely will be affected....many landed sellers r asking way above valuation....so now they goto be realistic....sell close to valuation.....i pity those who bot way above value recently

[land118]

hmm...landed really increase so much ar....10-15%(assuming 2.5mil ppty) increase in valuation within 2mths?

ya, tis segment quietly creep up under most radar.....quite surprising. I do believe some factor is that URA/SLA is approving more PR who have Singapore citizen spouse to buy. I know of a British PR with a Singapore wife, have 2 kids study locally, been working here for several years buying landed last year. Am sure, many such cases..., that's one reason why landed have more demand. Last time, even I assume as long not Singapore citizen - cannot buy. Now there are exceptions...

[Blue]

It is not SURPRISING at all for landed to surge so fast.

Condos are selling for $1500psf (built-in) everywhere.

Landed are selling for $833psf (built-in) based on $2.5M / 3000sq ft built-in.

Which is a better buy?

[land118]

It is not SURPRISING at all for landed to surge so fast.

Condos are selling for $1500psf (built-in) everywhere.

Landed are selling for $833psf (built-in) based on $2.5M / 3000sq ft built-in.

Which is a better buy?

Good observation. Just that landed quantum is much higher, you won't find a MM landed of 500sqft...can't build within URA guidelines.., glad that at least there are some regulation stipulating what is smallest size of landed.

From URA website:

http://www.ura.gov.sg/homeowner/atta...tach-dlhap.htm

"Mixed Landed housing area where any form of landed housing such as bungalows, semi-detached houses and terrace type I (occupying a land area of 150 sqm) are permitted. In addition, townhouses, strata bungalows and cluster housing with their own control guidelines are also permitted. Terrace type II (occupying a land area of 110 sqm) is, however subject to evaluation as these houses with 1.0m front setback could affect the streetscape"

[proper-t]

ya, tis segment quietly creep up under most radar.....quite surprising. I do believe some factor is that URA/SLA is approving more PR who have Singapore citizen spouse to buy. I know of a British PR with a Singapore wife, have 2 kids study locally, been working here for several years buying landed last year. Am sure, many such cases..., that's one reason why landed have more demand. Last time, even I assume as long not Singapore citizen - cannot buy. Now there are exceptions...

Its not only PRs but I have agents telling me that many foreigners are seeking permission from SLA to buy landed. Once armed with the permission, they give the agent the go-ahead to source for them.

[land118]

Its not only PRs but I have agents telling me that many foreigners are seeking permission from SLA to buy landed. Once armed with the permission, they give the agent the go-ahead to source for them.

Wow, Foreigners also. Thought they limit to Sentosa only. Wonder what kind of excuse they throw to smoke our SLA department to get permission.