The number of landed residential property transactions spiked in the first 10 months of this year, putting the full-year number on track to be the best showing in five years.
Property consultants attribute the surge in landed housing deals to the ongoing broader recovery in the residential market.
They also note that prices of landed properties have fallen to attractive levels from their peak in the third quarter of 2013 to the second quarter this year. Continue reading
SINGAPORE – A private landed housing site in Lorong 1 Realty Park in Hougang has drawn bullish bids from 11 developers.
The top bid for the 99-year leasehold site came from a consortium of Fantasia Investment (Singapore), Sun Renwang and Yang Xinping at S$75.8 million or about S$525.58 psf per plot ratio, said the Urban Redevelopment Authority at the close of tender on Thursday.
It was S$13.8 million or about 22 per centmore than the second-highest bid of S$62 million tabled jointly by Singhaiyi Investments and Haiyi Wealth. Continue reading
LANDED homes are some of the most coveted real estate assets in Singapore, due to their scarcity and exclusivity. As at Q4 2016, there were only an estimated 1,352 landed residential properties slated to be completed over a stretch of five years, between 2017 and 2021. There are a handful of landed residential projects with units yet to be launched (Figure 1), including a future development on a site along Lorong 1 Realty Park that is slated to be launched in April through the confirmed list of the Government Land Sales Programme.
The subset of homes with a freehold or 999-year lease tenure among landed properties is even more scarce. The recent quarter-on-quarter (q-o-q) uptick of 0.8 per cent in the Q4 2016 URA residential property price index for landed properties, and higher sales volume in 2016 further fuel optimism that the landed residential market is bottoming up.
The prevalent view is that landed real estate is recovering faster than other property types, and this sentiment is supported by the sales figures. The number of landed homes transacted in 2016 was 1,380 units, close to the level in 2013. In contrast, the total number of private home sales concluded in 2016 was 30 per cent less than that in 2013.
Should we invest in landed homes amid the uncertain external environment? Continue reading
SINGAPORE – CapitaLand will be launching on Saturday (Sept 3) Victoria Park Villas, a landed housing project in District 10.
The project comprises 106 semi-detached houses and three bungalows. Altogether, it takes up a 403,000 sq ft site at the junction of Coronation Road and Victoria Park Road. Continue reading
One of the largest bungalows in Wilkinson Road has been sold by two directors of several marine services firms that are in receivership.
The freehold home at 79, Wilkinson Road in Katong was bought for $30 million late last month by Mr Yeah Hiang Nam, managing director and chief executive of mainboard-listed pawnbroker ValueMax Group. Continue reading
The number of sales of Good Class Bungalows (GCBs) remains below the level they were at before the Total Debt Servicing Ratio was imposed in mid-2013, but there remains buying interest for this rare type of property.
Developer OUE said on Thursday that it is buying two GCB plots in Nassim Road for $56.58 million. Continue reading
Developer OUE has clinched two prime sites in Nassim Road at a bid price of about $56.6 million, said the firm last night.
OUE said the freehold land parcels, which make up about 33,300 sq ft and are owned by the British government, are both at 28 Nassim Road. Nassim is one of Singapore’s most exclusive good class bungalow enclaves. Continue reading