Landed properties have gained more than other private residential properties since Q3 of 2010 where the landed property sector has gained 0.4% over Q2 of 2012. The prices of landed homes have doubled over the last seven years.
Analysts noted that demand for landed properties is expected to stay robust. Demand for landed homes has increased due to rising affluence of local purchasers who aspired to upgrade their homes for larger living spaces and to take advantage of the low mortgage rates.
Terraced homes gained by 1.2%, semi-detached gained 0.6% while detached homes lost 0.4% over the previous quarter.
Over the past 3 years, prices for terraced homes gained 84%, semi-detached home gained 71% while detached house prices gained 83%. Over this same period, terraced homes in the west gained 97% while those in the east and north-east gained 89%.
Investors are attracted to the landed homes as they viewed them as good investment due to the limited supply for landed properties, rising wealth of Singaporean and new citizen in a growing population environment.
A new landed property launch at Haus @ Serangoon Garden attracted eager buyers where 39 out of 50 landed houses released were snapped up over two weeks.
This 97 landed home project is developed by City Developments and Hong Realty. A typical configuration consists of 2-storey home with an attic and basement comprising of 5 bedrooms with utility and family room. An intermediate terrace house is asking from $2.4 million and a corner terrace is asking from $2.8 million.
Buyers are attracted to this project due to the limited landed property supply located in an established landed housing enclave, good rental potential due to its proximity to international schools, amenities and an average asking price of $700 psf which is cheaper than most condos asking at $1,000 psf or higher in the vicinity.
31 Jul 2012