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Thread: Demand for landed properties likely to be robust

  1. #1
    Bricks & Mortar
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    Default Demand for landed properties likely to be robust

    http://www.channelnewsasia.com/stori...111176/1/.html

    Demand for landed properties likely to be robust
    By Jo-ann Huang | Posted: 16 February 2011 2315 hrs

    SINGAPORE : Demand for landed properties is likely to be robust this year, according to market watchers.

    They said landed property buyers are typically unaffected by the government measures to curb speculation. That is because they are less likely to speculate on their houses as they are usually long-term owner occupiers.

    Analysts said going forward, limited supply of landed properties, low interest rates and abundant liquidity will fuel demand.

    Landed properties like detached, semi-detached and terrace houses are in great demand. And the smaller developers who build mostly landed houses look set to benefit from it.

    One such developer is Mushrooms Realty, which mostly builds detached houses.

    Tan Wee Yong, founder of Mushrooms Realty, said: "Traditionally, they might be out of people's budget. But nowadays, ... given the choice and if the price differential is not that great, I think most Singaporeans will go for landed property."

    Despite a slew of cooling measures announced last year, healthy demand for landed properties pushed prices up by 31 per cent in 2010, outpacing the 17.6 per cent increase in non-landed home prices.

    Nicholas Mak, executive director of research & consultancy, SLP International, said: "We see low interest rates, we see more liquidity in the property market, but another reason is that some of the home buyers feel that the newer apartments tend to be a bit smaller than some of the older apartments.

    "And in order to have the luxury of space, some of these buyers turn to landed properties."

    Analysts said landed home buyers usually hold onto their properties for a few years and should be able to avoid the new stamp duty tax of 4 per cent on homes sold within the fourth year of purchase.

    Landed property sites have doubled in price in the last three years. For instance, a landed property site in Serangoon Gardens has seen its price jump from about S$500 per square foot (psf) three years ago to about S$800 psf currently.

    Demand for landed property sites is also overwhelming current land supply.

    Mr Tan said: "For freehold, I think there is a supply crunch. Actually, as long as there is a new piece of land coming out in the market, there will be a lot of interested parties ... if the asking price is at the market rate."

    According to the Urban Redevelopment Authority, there are currently 70,000 landed housing units available in the market. That is 30 per cent of the entire private home supply.

    Even with economic growth slowing this year from last year's record-high level, analysts said landed property prices should rise by 8 to 12 per cent this year.

    - CNA/al


  2. #2
    Bricks & Mortar
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    Just check streetsine database for Serangoon Gardens Estate, Jan 2011 transactions on Terrace house alone below, seem like still have some buzz. Transaction after measures - post 14 Jan 2011 seem to be as many as pre measures, like not much impact:

    http://www.streetsine.com/static/hom...talcode-545618

    Address

    Tenure
    PSF
    Area Sqft
    Price
    Contract Date
    23 Conway Grove
    999 Yrs From 01/01/1956
    $1,250
    2637
    $3300k
    27-Jan-11
    47 Borthwick Drive
    999 Yrs From 01/01/1955
    $1,055
    2799
    $2950k
    24-Jan-11
    47 Bridport Avenue
    999 Yrs From 01/01/1954
    $811
    2153
    $1750k
    24-Jan-11
    18 Hythe Road
    999 Yrs From 01/01/1954
    $879
    2164
    $1900k
    19-Jan-11
    20 Hythe Road
    999 Yrs From 01/01/1954
    $879
    2960
    $2600k
    19-Jan-11
    54 Bridport Avenue
    999 Yrs From 01/01/1955
    $1,185
    2164
    $2560k
    13-Jan-11
    22 Cardiff Grove
    999 Yrs From 01/01/1956
    $1,156
    1841
    $2128k
    13-Jan-11
    62 Cardiff Grove
    999 Yrs From 01/01/1956
    $1,223
    1841
    $2250k
    07-Jan-11
    47 Bridport Avenue
    999 Yrs From 01/01/1954
    $1,209
    2153
    $2608k
    07-Jan-11
    93 Cardiff Grove
    999 Yrs From 01/01/1956
    $699
    3003
    $2100k
    06-Jan-11
    5 Blandford Drive
    999 Yrs From 01/01/1955
    $814
    2799
    $2280k
    03-Jan-11


  3. #3
    Emeritus Senior mantrix's Avatar
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    maybe have some cooling measures targeted specifically at landed housing then at least the average Singaporean has a chance of realising his dream


  4. #4
    Big is Wonderful.
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    Landed is the ultimate dream of many singaporean home owners. The rapidly shrinking share of landed vs total private housing stock in SG will fuel further demand and price rises, despite whatever measures from govt. It sure feels good to be among the 5.7% of SG households living in landed.

    I know of many landed owners holding on tight to their gems and not selling. Agents have told me that some sellers keep moving their goal posts knowing that higher offers are forthcoming. Simple economics of dd and ss. With the mkt expected to be flooded with BTOs, condos & apts in the next 5 yrs, plus rising population and affuence, it is natural for pte pty upgraders to seek landed properties and the vicious upward spiral of prices for landed will keep going... No wonder the DWG Director interviewed on CNA prog recently said that landed property owners are siting on gold mines.


  5. #5

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    Quote Originally Posted by mantrix
    maybe have some cooling measures targeted specifically at landed housing then at least the average Singaporean has a chance of realising his dream

    Look at where all our policy makers are staying....


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