There's always been much debate between the East and West in Singapore, but other than food Singapore's East side is also well-known for high-rent and luxurious landed housing. Some of the most popular low-density enclaves can be found on this side of the country, ranging from Siglap to Joo Chiat. But while higher prices are something of a given, the...
This ran contrary to expectations that detached homes would lead in price, given their generally greater popularity.
Yan says that, for finding the right value of a landed home, transactional data only form "one piece of the puzzle" anyway: An important part of the price also stems from current market movements and sentiment: there are trends popular in landed homes today, that may not have been liked in the past; and vice versa. Yan says these sentiments and trends must be married into the final price analysis, for a proper assessment.
"This really depends on the profile of the buyer and what their longer-term plans are for the property. A freehold property is a classic preference, as homeowners may feel that the property belongs to them forever and they can pass it down to generations to come; but one thing to note is that the condition of the house may decline over time, making renovation and rebuilding a costly affair for future generations.
Given that many family-sized new launch units are now breaching the $2.2 million mark, it may be worth considering something like a resale landed property instead especially if your priority is living space.While affordable is good, make sure the landed property is not cheap due to poor location, or other issues that are hard to correct later."First, traffic flow around the property must be smooth and easy," Yan says, "Where there is little cause for congestion to occur.
Yan says one good example is Greenwood Avenue, which is a cluster of bakeries and restaurants that form a sort of food hub for one of the Bukit Timah landed enclaves."Looking purely at price psf may not be the most ideal marker," Yan says, as a renovated house adds more value compared to an original house, both intrinsically and monetary. This is true, especially in the current market, where construction and renovation costs are much higher and manpower restrained.
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