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Thread: Landed homes the way to go

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    Default Landed homes the way to go

    http://www.businesstimes.com.sg/sub/...51555,00.html?

    Published September 24, 2009

    Landed homes the way to go

    Buyers took advantage of lower prices, which have corrected by some 20 to 30% from the peak, and low interest rates to buy their dream landed homes

    By GRACE NG


    A HOME these days has become more of a lifestyle statement and status symbol than just a roof over one's head. And what could answer both aspirations better than a plot of freehold land where the owner can dictate every last detail in a custom built house?

    So is it too late to go shopping for a landed property today? Let's look at how the market has been performing this year.

    The landed market has seen a recovery in transactions, with the turning point in March this year. After hitting a low in February, when only 73 units changed hands, March saw 123 units done. This figure then increased by leaps and bounds, from 247 units in May to 331 units in June and 320 in July.

    Buyers took advantage of lower prices, which have corrected by some 20 to 30 per cent from the peak, and low interest rates to buy their dream landed homes. With the recovery in volumes, is a price recovery in sight?

    Landed home prices had peaked between late 2007 and the first part of 2008 before trending down as the sub-prime debacle hit.

    It saw a low between January and March this year but with the recovery of the stock market, sentiment improved and landed home prices began to pick up in April.

    Despite the upward trend, prices as at July were still some 11 per cent below the previous peak. The only exception is detached houses, whose prices are close to the 2007 peak. We look at some of the reasons behind the demand for landed homes.

    # Landed properties are seen as value for money compared to non- landed units: A landed property, when compared to a condominium in the primary market, appears better value for money. The former has a bigger built-up area, in addition to a car porch and a garden.

    If one buys a typical landed terrace house for, say, $1.28 million and spends $300,000 on renovation, the total cost is about $1.6 million. This works out to about $640 per sq ft, assuming a built-up area of 2,500 sq ft. The terrace house is likely to be freehold or with a 999-year tenure, and have four to five bedrooms.

    For the same price, a buyer may be able to get just a 1,300 sq ft three-bedroom leasehold condominium in the primary market. This can be seen from the recent launch of Centro, a condominium in Ang Mo Kio, with prices averaging around $1,200 per sq ft (psf).

    # No maintenance charges: The owner of a landed property does not need to pay maintenance charges as opposed to someone living in a condominium. To make up for the lack of facilities in a landed property, there has been a growing trend of owners incorporating a lap pool within their homes.

    # Lower construction cost: Reconstructing a property is more economical today than at the peak in 2007, as construction costs have dropped by 10 to 15 per cent over the past year.

    # Custom built: Many home buyers today do not not hesitate to buy an old property, tear it down and build their dream house on the site.

    In fact, some owners so enjoy dictating the design and materials for their house that they get very involved in liaising with the architect, contractor and interior designer. The completed project gives the owner an added sense of pride and satisfaction.

    # Improved convenience: Landed properties had tended to cluster in estates lacking amenities or public transport. However, with the opening of MRT lines - the East-West, North-South, North-East and the Circle lines - it has become more convenient to commute from many landed housing estates.

    Most are just a five- to 15-minute walk to the train station. One can also find food and retail outlets integrated with the MRT station or transportation hub. An example is the upcoming shopping mall 'nex', located above Serangoon MRT station and next to a bus interchange.

    The accessibility has made landed properties more desirable and has changed the perception that they are not as conveniently located as apartments.

    Is the demand sustainable?

    Landed properties are likely to retain their popularity among Singaporeans. However, whether the transaction volume can be sustained will depend on the price expectations set by the sellers.

    Despite the recovery in April, transacted volumes and prices are still below the peak. The 320 units transacted in July were about half of the 605 units done during the peak in May 2007.

    Prices in the current market are still some 11 per cent (excluding detached houses) off those seen during the peak. For instance, in June this year, the average price of a landed terrace house below 2,500 sq ft was about $697 psf, compared to $796 psf seen during the peak in March 2008.

    With the continued economic recovery and improved market sentiment, prices could continue to rise. However, as the economy is not yet out of the woods and wage increases are not expected to be strong, there is a cap on how much buyers can or will pay.

    Price increments may slow from the 12-31 per cent registered in the earlier months of the year to a more gradual pace of 5-8 per cent in the next 12 months.

    The writer is deputy managing director (agency and business services), Colliers International

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    http://www.businesstimes.com.sg/sub/...51554,00.html?

    Published September 24, 2009

    Some choice locations for landed homes


    West Coast/Pasir Panjang

    NOT only is this area close to institutions of higher learning, such as The National University of Singapore, it is just 15 to 20 minutes' drive to the CBD.

    The opening of shopping malls such as VivoCity and West Coast Plaza has added much vibrancy to this area. The impending new Circle Line, with stations extending to Telok Blangah, Labrador Park, Pasir Panjang, Haw Par Villa, Kent Ridge and one-north, will make the area highly accessible.

    Bukit Timah

    BUKIT Timah is a popular choice, being close to quite a number of elite schools - Nanyang, Hwa Chong Institution, Methodist Girls' School, Singapore Chinese Girls' School, Anglo-Chinese School (Barker Road) and St Joseph's Institution.

    The area is currently not served by an MRT line but come 2015, the Downtown Line will have stations at Stevens, Botanic Gardens, Tan Kah Kee, Sixth Avenue, King Albert Park, Beauty World, Hillview and Cashew.

    East Coast

    THIS area covers Mountbatten, East Coast Road, Tanjong Katong, Siglap and Bedok. Its proximity to the beach and access to town via the East Coast Parkway has made this area popular.

    Access to this area will be enhanced by the new Circle Line MRT stations such as Mountbatten and Dakota. In addition, the future Eastern Region Line will run through Tanjong Rhu to Marine Parade estates.

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    xebay11 is offline New Launch Project Specialist
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    Yes, landscape it nicely, put a lap pool and jacuzzi in the roof and you have your own private haven, don't know why people pay even more than landed homes these days and cram with several hundred other families at the pool or facilities.

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    donno why some people even bother to buy overpriced depreciating assets in places like ang mo kio. Sure regret in 10 years time.
    Quote Originally Posted by xebay11
    Yes, landscape it nicely, put a lap pool and jacuzzi in the roof and you have your own private haven, don't know why people pay even more than landed homes these days and cram with several hundred other families at the pool or facilities.

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    i bought a 99yrs old leasehold landed property at westwood park, cant afford a freehold or 999yrs... may i know did i bet on the wrong option? cant stay in condo because there are deliveryman everyday that need to send stocks to my house. afraid the resident will complain.

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    Quote Originally Posted by xebay11
    Yes, landscape it nicely, put a lap pool and jacuzzi in the roof and you have your own private haven, don't know why people pay even more than landed homes these days and cram with several hundred other families at the pool or facilities.
    Let me tell you why:

    1. Landed homes don't have show flats for people to cram and squeeze. Not exciting.

    2. Landed homes don't have reporters taking photos so relatives won't know you are buying. Not glorious.

    3. Landed homes don't have shoes outside the show flats for people to smell. Not nice.

    4. Landed homes don't have crowded swimming pools to cram and squeeze. Not fun.

    5. Landed homes don't have public pool to flaunt your assets. Not glamorous.

    6. Landed homes don't have hundred trees. Not shady.

    That's why the landed forum is very quiet. Not loud.

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    Quote Originally Posted by joseph85
    i bought a 99yrs old leasehold landed property at westwood park, cant afford a freehold or 999yrs... may i know did i bet on the wrong option? cant stay in condo because there are deliveryman everyday that need to send stocks to my house. afraid the resident will complain.
    There is no right or wrong. Depends on what price you paid.

    If around $800k + should be ok ...

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    Quote Originally Posted by jlrx
    Let me tell you why:

    1. Landed homes don't have show flats for people to cram and squeeze. Not exciting.

    2. Landed homes don't have reporters taking photos so relatives won't know you are buying. Not glorious.

    3. Landed homes don't have shoes outside the show flats for people to smell. Not nice.

    4. Landed homes don't have crowded swimming pools to cram and squeeze. Not fun.

    5. Landed homes don't have public pool to flaunt your assets. Not glamorous.

    6. Landed homes don't have hundred trees. Not shady.

    That's why the landed forum is very quiet. Not loud.

    there are also pp like me with humble HDB heartlander background who are not comfy or feel safe staying in landed homes

    f'more I am a very lazy person & prefer to pay for someone else to take care of maintenance rather than DIY or have to find contractor etc to do it. I don't even like potted plants, let alone maintain an entire garden. the same goes for my hubby.

    we have considered getting an old landed (coz can't afford new landed) that is within our budget. however the reno will cost a bomb & we don't have wads of cash sitting at home for me to spend on reno. reno loans are subject to low limits and the interest rate is expensive. hence at the end of the day, it's better for us to buy a brand new pty where we only need to borrow a housing loan and service the instalments.

    there are many more other considerations than $$$ when choosing between a landed pty & a condo apt....

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    Landed home is ok for adults but not growing up children. Children in condo pick up sports like swimming and other racket games easily but not for landed children.

    But for animal lover, landed is the obvious choice.

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    Another bad thing about landed is mosquitos, long time ago stayed in mayflower gardens, kena mosquito bites every night.... , and dunno why pigeons love to make nests outside our toilet window also...

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    Quote Originally Posted by azeoprop
    Another bad thing about landed is mosquitos, long time ago stayed in mayflower gardens, kena mosquito bites every night.... , and dunno why pigeons love to make nests outside our toilet window also...
    That's why sealover said you must love animals like mosquitoes and pigeons. The pigeons can also lay eggs for you so you don't have to buy quail eggs.

    Quote Originally Posted by sealover
    But for animal lover, landed is the obvious choice.
    Actually, there are a number of other inconveniences such as heat and staircases.

    However, it seems to be the ultimate aspiration of every Singaporean (similar to buying a Mercedes or BMW). You can be sure that almost every doctor with a successful practice will be staying in a landed property; and every local CEO of a public-listed company.

    Perhaps it's due to the coolness of having your own postal code?

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    Quote Originally Posted by jlrx
    There is no right or wrong. Depends on what price you paid.

    If around $800k + should be ok ...
    yea about $800k+ but i really fancy the part where i dun need to pay maintenance and the season parking. i took a look at a few condo. their maintainence easily over 300sgd. i feel is too much for me to pay for as i dun need utilise the condo facilities at all.

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    True, but you have to factor in the repairs here and there for landed (very often for old landed as building quality somehow is much poorer than high-rise condo building) and also that there are no facilities for kids to train up swimming, go gym, play tennis etc. There is an additional price to pay for these when living in a condo but cheaper than joining a fitness club or a country club.

    Quote Originally Posted by joseph85
    yea about $800k+ but i really fancy the part where i dun need to pay maintenance and the season parking. i took a look at a few condo. their maintainence easily over 300sgd. i feel is too much for me to pay for as i dun need utilise the condo facilities at all.

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    Quote Originally Posted by teddybear
    True, but you have to factor in the repairs here and there for landed (very often for old landed as building quality somehow is much poorer than high-rise condo building) and also that there are no facilities for kids to train up swimming, go gym, play tennis etc. There is an additional price to pay for these when living in a condo but cheaper than joining a fitness club or a country club.
    There is no conclusive evidence to show old landed building quality is poorer. Like it or not, all buildings depreciate over time. It all depends on the level of maintenance. We don't see old Black & White bungalows having more problems than old condos like Bayshore Park.

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    Quote Originally Posted by joseph85
    i bought a 99yrs old leasehold landed property at westwood park, cant afford a freehold or 999yrs... may i know did i bet on the wrong option? cant stay in condo because there are deliveryman everyday that need to send stocks to my house. afraid the resident will complain.
    Next time don't buy LH99 landed. It is a depreciating asset. Go for FH next time. Meanwhile enjoy your new home.

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    Depends, I am not saying all but most. The problems are not like they will collapse, but frequent repairs (just like buying those very cheap-made cars - No problem with driving from point A to B, but need frequent repairs for minor things malfunctioning here and there). Those B&W bungalows generally also require a lot of repairs.

    Quote Originally Posted by jc
    There is no conclusive evidence to show old landed building quality is poorer. Like it or not, all buildings depreciate over time. It all depends on the level of maintenance. We don't see old Black & White bungalows having more problems than old condos like Bayshore Park.

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    Quote Originally Posted by teddybear
    Depends, I am not saying all but most. The problems are not like they will collapse, but frequent repairs (just like buying those very cheap-made cars - No problem with driving from point A to B, but need frequent repairs for minor things malfunctioning here and there). Those B&W bungalows generally also require a lot of repairs.
    I have mentioned b4, Landed home owners need to set aside an amt. of $ for repair/ maintenance/ asset enhancement purposes, just like what sinking fund & maintenance fee for condos do. I know a lot of landed owners don't. So small problem rolls into big. Do u hear many landed owners except GCBs seting aside eg. $4k- $5k per annum which is peanuts vs condo maintenance fee?

    On the contrary, many condos despite maintenance fees, still have many propblems.

    R u a landed owner? Or maybe u r unlucky that your houses have such problems.

    Btw, any existing condo in Sgp as old as B & W bungalow era? 1 i can think of: People's Park Apt. The condition is

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    Quote Originally Posted by teddybear
    True, but you have to factor in the repairs here and there for landed (very often for old landed as building quality somehow is much poorer than high-rise condo building) and also that there are no facilities for kids to train up swimming, go gym, play tennis etc. There is an additional price to pay for these when living in a condo but cheaper than joining a fitness club or a country club.
    i used to live in condo ... no chance to swim cos adult pool swamped by kids... and do they 'train up swimming' like you said ? no they play only ..waste time and money ...

    i have a landed by kent ridge park ... jogging climbing tree top walking nature etc so much better than condo facilities ... and free ...

    mosquitoes ? no ... the only problem is 'too quiet' ...heheh extreme serenity

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    Quote Originally Posted by jc
    Next time don't buy LH99 landed. It is a depreciating asset. Go for FH next time. Meanwhile enjoy your new home.
    if i go for freehold landed, the price is gonna be 2x LH99 landed, which i can never afford. but i do have plan to upgrade to a FH condo or FH landed after i used the lh landed for 10yrs. thanks god, i dun think i will have any kids in the foreseeable future, so landed is still for me currently, no problem, but will move to a condo if my parent cant climb the stairs when they are old.

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    Quote Originally Posted by jc
    I have mentioned b4, Landed home owners need to set aside an amt. of $ for repair/ maintenance/ asset enhancement purposes, just like what sinking fund & maintenance fee for condos do. I know a lot of landed owners don't. So small problem rolls into big. Do u hear many landed owners except GCBs seting aside eg. $4k- $5k per annum which is peanuts vs condo maintenance fee?

    On the contrary, many condos despite maintenance fees, still have many propblems.

    R u a landed owner? Or maybe u r unlucky that your houses have such problems.

    Btw, any existing condo in Sgp as old as B & W bungalow era? 1 i can think of: People's Park Apt. The condition is
    Don't play play.. the people's park apartment is power one man..
    yield is freaking high..

    I know a lot of the indonesia owners there rent out daily to indo tourists who come here only wanting a place to sleep.. the most incredulous is that for only $15 dollars a day, you can sleep on the floor of the living room with mattress provided.. and you know what.. there can be as many as 20 pax in the living room!! Gosh!

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    Default Landed vs apt

    Landed property has always been a good buy in Singapore. They have lagged in psf compared with apartments and one reason is that foreigners can't buy landed. But this is slowly changing, as permission is often granted for a PR to buy landed ppty.

    Landed property lends itself to self renewal, without the need for the complicated enbloc process. So a landed property will rise with the tide.

    Prices are still lagging in my opinion.

    If you take an area like Bukit Timah, an original 3000 sqft semi-d is about 3 mil. You can construct a new 5000 sqft built-in house and the total cost will be 4mil. A 5000 sqft new apt will cost you more than 4mil. Given that what really appreciates is the land and the building depreciates over time, then I believe it makes good investment decision to go for landed ppty.
    Last edited by Localite; 26-09-09 at 22:29. Reason: typo

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    xebay11 is offline New Launch Project Specialist
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    Quote Originally Posted by jlrx
    That's why sealover said you must love animals like mosquitoes and pigeons. The pigeons can also lay eggs for you so you don't have to buy quail eggs.



    Actually, there are a number of other inconveniences such as heat and staircases.

    However, it seems to be the ultimate aspiration of every Singaporean (similar to buying a Mercedes or BMW). You can be sure that almost every doctor with a successful practice will be staying in a landed property; and every local CEO of a public-listed company.

    Perhaps it's due to the coolness of having your own postal code?
    Why heat and staircases? My parents own a 3 storey landed home and built a ground floor granny flat last year c/w full facilities like seperate kitchen / living dining and laundry area, when my mum calls the taxi, the taxi comes in the electric gate to pick her from the front door, how elderly friendly is that?

    The house is NS facing so no noon sun except indirect at rear, they created a eaved roof lean to structure at the rear so the house gets no direct contact with the sun at all, so very, very cool. Instead of having large glass doors in the front, they opted for smaller windows, they treated the windows with stained glass, so ultimate privacy and the security, with video cam and wired alarm is way better than HDB or condo.

    Mosquitoes? nada or minimal, as they paved the whole garden and just landscape with potted plants and water feature, so very resort like.

    Maintenance is very cheap, as the house was built in 1991, all they need was paint every five years, the roof may need replacement in 20 years, but that will be about $7k only. Because they save on condo maintenace fees, parking etc they use the air con very liberally, so very nice comfortable, private and exclusive life style, which many landed owners enjoy.

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    Quote Originally Posted by Localite
    Landed property has always been a good buy in Singapore.
    You are right landed are good buys.

    Landed's price rise is largely "real"; while condo's price rise is largely "imaginary".

    I own both landed and condo so I know. The URA data do not capture the true picture.

    When landed rises, it really rises.

    When condo "rises", it's usually because the neighbouring new developments are being priced at a higher psf, causing the URA data to reflect the rise. But resale properties can never match that price.

    For example, one of my condos in the OCR is still below $1,000 psf, but developers all around are launching at above $1,000 psf.

    Higher and higher price they launch ... $1,100 psf ... $1,200 psf ... $1,300 psf. People queue up to buy, give agents blank cheques. URA will capture the price in the region as rising.

    However, my poor condo is still below $1,000 psf.

    So it's the developers who are pocketing the profits and benefiting from the price rise. Once you buy, and want to resell, buyers won't pay you much more than what you have bought it. They prefer to queue for new condos.

    Your price will still be "dragged" upwards by the new developments, like the Chinese saying "a rising tide lifts all boats", but it's very slow.

    On the other hand, when landed rises, it really rises. It's not developers' sale. It's really rising.

    The rise is nothing short of impressive. Give you an example of an area which I have been eyeing, but now seems a bit out of reach ...

    Katong freehold detached bungalow near Chung Cheng High School (Main), with land area around 5,000 sf.

    Year 2005 - approx. $400 psf (price approx. $2 million).
    Today - approx. $1,000 psf (price approx. $5 million).




    This is a "real" rise because it's transacted directly between retail buyers and sellers. Not the "imaginary" price rise due to next door's new development's "benchmark" prices, which your condo can never achieve as a resale property.

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    Read the following article.

    The reporters (not Reporter) and analysts seem to be a bit behind the curve.

    I have been noticing this strange phenomenon (refer to my previous postings) that landed home prices did not seem to go down at all during the Lehman crisis. In fact, they continued to go up!

    Now they are reporting this after Credo's "four-year study".

    The Business Times should come to this forum and read my posts, or they can interview me.

    Business Times - 29 Dec 2009

    Terrace prices are king among landed homes

    For 4 years running their prices have been most resilient, Credo study finds

    By KALPANA RASHIWALA



    (SINGAPORE) Landed home prices have largely continued to rise this year in the five most popular districts despite price fatigue setting in for condominiums and apartments.

    A caveats analysis by Credo Real Estate, covering a four-year period from when the residential property market first stirred to life in 2006, shows that prices of terrace houses have been the most resilient over the past four years, rising by over 50 per cent in some areas.

    More than semi-detached houses and bungalows, the average per square foot price of terrace houses has risen consistently between 2006 and 2009 in the five most popular districts.

    The most sought-after landed housing location is District 19, followed by Districts 15, 28, 20 and 10.

    Credo's study does not include the Good Class Bungalow Areas (GCBAs) and Sentosa Cove (which are the more exclusive landed housing locations in Singapore), and strata landed homes. The latter are a hybrid housing form with shared condo-type facilities like swimming pool and tennis courts, and are usually built more intensively than conventional landed housing.

    While terrace home prices have fared relatively better than semi-Ds and bungalows, landed home prices on the whole have also appreciated steadily between 2006 and 2009 in the five districts. 'For most districts and sub-classifications of landed, we are at the all-time peak in terms of prices,' says Credo's managing director Karamjit Singh.

    In most instances, price gains were achieved last year despite the general property downturn.

    Agents attribute this resilience to the relatively limited supply and stock of landed homes.

    'There's a very strong desire on the part of many Singaporean households to upgrade to landed property, which is regarded as an emotionally satisfying form of housing to own because you actually own something very tangible on the ground rather than in the air,' says Credo's Mr Singh.

    The government's promotion of larger families - with three or more children - has also set more parents thinking about the need for bigger homes with at least four bedrooms.

    'Many times you'll find terrace houses offer better value than large apartments and condos. A 2,000 sq ft 4-plus-1, brand-new freehold condo in Katong might cost $2.4 million. But you can probably buy an intermediate terrace for about $2 million and have a bigger gross floor area of 2,500 sq ft, with saleable area inclusive of car porches possibly exceeding 3,000 sq ft. And you could have as many as five bedrooms,' Mr Singh says.

    He also points out that landed housing is an asset class that is predominantly bought and sold by Singaporeans rather than foreigners - which accounts for why landed 'has always been like a steady ship, less volatile than high-end condos in particular'.

    Knight Frank chairman Tan Tiong Cheng reckons, however, that new citizens could also be potential buyers. 'A lot of new citizens also like landed homes, once they realise security is not an issue in Singapore,' he said.



    Terrace houses, which form the bulk of landed housing stock here, made up the lion's share or nearly 60 per cent of the total 1,552 caveats lodged for landed homes in 2009 in the five hot spots.

    In the most popular location of District 19 (which includes Serangoon Gardens and Yio Chu Kang), the average price of terrace houses has risen from $409 psf of land area in 2006 to $586 psf this year - an increase of 43.3 per cent.

    In the second most sought after locale, District 15 (covering Katong, Opera Estate, Mountbatten and Joo Chiat), the average terrace home price has appreciated 51.8 per cent, from $475 psf in 2006 to $721 psf this year. Average terrace house prices in 2009 are at an all-time high in four of the five districts, and close to the record level in the fifth district.

    Bucking the overall uptrend in bungalow and semi-detached home prices last year, the average detached home price in District 15 fell 23.1 per cent to $635 psf in 2008 from $826 psf in 2007. 'District 15 detached houses benefited from that wave of buying we saw for luxury condos in 2007. But they also shared a similar fate when prices later fell in 2008,' says Mr Singh.

    District 28 includes Seletar Hills Estate, Luxus Hill and the Mimosa and Saraca areas; District 20 covers Jalan Pemimpin, Sembawang Hills Estate, Thomson Ridge Estate and Soo Chow Gardens; while District 10 includes the Bukit Timah and Holland Road areas.

    The five hot spots account for 54.2 per cent of total caveats lodged this year for landed homes in Singapore, excluding GCBAs, Sentosa Cove and strata landed properties.

    Overall, the 1,552 caveats lodged for landed homes in the five districts this year is about 65 per cent higher than last year's figure, but still below the 2,516 caveats lodged in 2007.

    More than 90 per cent of landed homes transacted this year in Singapore (excluding GCBAs, Sentosa Cove and strata landed homes) were in the secondary market - which is not surprising given the dearth of new project launches in the primary market.

    For the year ahead, Knight Frank's Mr Tan reckons the outlook for landed home prices remains strong, 'just like the recovery in 2009 - and more so than condos'.

    He reasoned: 'Not only is supply limited but also static. It's more difficult to create landed housing stock; when government sells land, it wants to maximise value especially if it's near MRT stations. Hence the tendency to award higher plot ratios and these can't be maximised by doing landed housing.'

    Mr Singh, too, is upbeat about prospects for landed homes as long as the economy continues to grow. 'Landed is dependent on Singaporeans at large feeling richer and confident about their earnings prospects. It has also got to do with the other forms of wealth creation taking place, like people becoming IPO-rich, or en bloc-rich,' he says.

    Copyright 2007 Singapore Press Holdings Ltd. All rights reserved.

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    i am very curious .. maybe someone can enlighten me ...

    saw an advert ...

    SINGLE storey house ... built up 3150 sqft .... land 2650 sqft

    how is that possible ? built up bigger then the land size ? when it is single storey ?

  27. #27
    Join Date
    Apr 2009
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    923

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    Quote Originally Posted by proud owner
    i am very curious .. maybe someone can enlighten me ...

    saw an advert ...

    SINGLE storey house ... built up 3150 sqft .... land 2650 sqft

    how is that possible ? built up bigger then the land size ? when it is single storey ?
    Check the plot ratio. Which is about 1.2, plenty of 1.4 around. Lawyers could do the checks for you after you viewed it and obtained the ownership details.

    What is the definition of plot ratio (PR)?

    The plot ratio of a site is defined as the ratio of the gross floor area of a building(s) to its site area.

    Plot ratio = Gross Floor Area / Site Area

    The definition of gross floor area can be found in the Hand Book on Gross Floor Area

  28. #28
    Join Date
    Jun 2007
    Posts
    86

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    Quote Originally Posted by proud owner
    i am very curious .. maybe someone can enlighten me ...

    saw an advert ...

    SINGLE storey house ... built up 3150 sqft .... land 2650 sqft

    how is that possible ? built up bigger then the land size ? when it is single storey ?
    It might be a single storey with an attic or 11/2 storey as they sometimes advertise it.

  29. #29
    Join Date
    Jul 2009
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    Quote Originally Posted by jsh
    It might be a single storey with an attic or 11/2 storey as they sometimes advertise it.
    Perhaps basement or cellar?
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

  30. #30
    Join Date
    Sep 2008
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    Probably they count the roof space for ninjas!

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