low psf of cluster housing

[mantrix]

Have been asking around, and it seems agents marketing TOP'ed cluster projects are beating flies. Prices are dirt cheap, psf-wise. Why? Because for full cluster projects u can't sell to foreigners, and singaporeans will much prefer a piece of their own land as opposed to a strata-landed with facilities?

[buttercarp]

Oh, I always thought cluster housing, foreigner can buy?
What is full cluster projects?
Full as opposed to cluster housing/ town house within a condo?

Anyway if cannot buy and there is a surplus, can always apply to SLA for approval.

Mantrix, u considering one?

[mantrix]

Oh, I always thought cluster housing, foreigner can buy?
What is full cluster projects?
Full as opposed to cluster housing/ town house within a condo?

Anyway if cannot buy and there is a surplus, can always apply to SLA for approval.

Mantrix, u considering one?

Hehe no - cos I think cluster houses have too many stairs and floors...my knees will be destroyed in no time!

Mixed projects (eg Woodhaven, Thomson Grand, EUhabitat) have townhouses (landed) that can be bought by foreigners. But for full cluster projects, you can't sell to foreigners...hence the low appeal.

[buttercarp]

Hehe no - cos I think cluster houses have too many stairs and floors...my knees will be destroyed in no time!

Mixed projects (eg Woodhaven, Thomson Grand, EUhabitat) have townhouses (landed) that can be bought by foreigners. But for full cluster projects, you can't sell to foreigners...hence the low appeal.

One of my PR friends was interested in a full cluster development and agent said can. Mabbe must apply for permission.
Then no wonder cluster housing is priced lower psf.

Too many floors?.... Same for landed property.

[mantrix]

One of my PR friends was interested in a full cluster development and agent said can. Mabbe must apply for permission.
Then no wonder cluster housing is priced lower psf.

Too many floors?.... Same for landed property.

Well they squeeze 600 sq ft per floor onto 5 floors and say it's 3000sq ft built in.

Sounds big but when u see the actual...woah...

Whereas landed usually 2.5 storeys nia and u have ur own patio so not claustrophobic

[sh]

low psf because a huge chunk of of the strata area is not indoors. eg carpark, PES from and back, roof terrace. Ask for what is the built-in area and the psf price is not that low.....:banghead:

+ staircase occupied a large proportion of each floor. deduct the stairs and the useable area becomes even smaller....:tongue3:

[howgozit]

One of my PR friends was interested in a full cluster development and agent said can. Mabbe must apply for permission.
Then no wonder cluster housing is priced lower psf.

Too many floors?.... Same for landed property.




What is restricted residential property under the Residential Property Act
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:


vacant residential land;
landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
landed property in strata developments which are not approved condominium developments under the Planning Act.

[buttercarp]

What is restricted residential property under the Residential Property Act
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:

vacant residential land;
landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
landed property in strata developments which are not approved condominium developments under the Planning Act.

Oh thanks, I must go tell him.

[howgozit]

Oh thanks, I must go tell him.


Some cluster developments squeeze in some facilities (among other reqmts) in order to qualify for condo status making it possible for foreign ownership. So better check with developer first.

Some remain pure cluster so that they can develop more area for sale rather than in common area. In any case, its not that difficult to get approval to buy. There are many Malaysian PRs that buy landed in Singapore.

[Fleur]

low psf because a huge chunk of of the strata area is not indoors. eg carpark, PES from and back, roof terrace. Ask for what is the built-in area and the psf price is not that low.....:banghead:

+ staircase occupied a large proportion of each floor. deduct the stairs and the useable area becomes even smaller....:tongue3:


Carpark is under mcst ownership, from what I see from some floor plans.

[Rosy]

Some cluster developments squeeze in some facilities (among other reqmts) in order to qualify for condo status making it possible for foreign ownership. So better check with developer first.

Some remain pure cluster so that they can develop more area for sale rather than in common area. In any case, its not that difficult to get approval to buy. There are many Malaysian PRs that buy landed in Singapore.
Is there a cluster project that allows foreign ownership? Big project like woods do not qualify as well

[howgozit]

Is there a cluster project that allows foreign ownership? Big project like woods do not qualify as well

Please correct me if I am wrong but I think there are quite a few in East Coast like Simpang Bedok and Kew area, closer to town in D10 The Teneriffe.... etc

I am quite surprised that Woods doesn't qualify as a Condo to enable foreign ownership seems quite loaded with facilities.

[sh]

Carpark is under mcst ownership, from what I see from some floor plans.

Nope.... can be strata-ed if attached to unit. Usually the case in cluttered housing.:(

Can verify this with the developer, agents.

[marktkt22]

At old age, u wont want to climb all that staircase

[devilplate]

At old age, u wont want to climb all that staircase
Tats y cluster hse :tsk-tsk:

The flr plate so small and dun haf any nanny room on the first flr:doh:

[vip]

During the bad times of year 2002 to 2006, I've seen many owners having difficulties selling their cluster houses. Property agents said many buyers don't like the idea of paying the high monthly maintenance fee (due to smaller no. of units) for facilities that they seldom use.

There are other concerns as well, including 99-year leasehold, future maintenance issues, houses built very close to each other in a small piece of land, etc.

Also, I think it's a wrong perception that foreigners cannot buy landed properties in Singapore. I've seen many of them who are able to do so. They just need to get approval from the authorities.

[Fleur]

During the bad times of year 2002 to 2006, I've seen many owners having difficulties selling their cluster houses. Property agents said many buyers don't like the idea of paying the high monthly maintenance fee (due to smaller no. of units) for facilities that they seldom use.

There are other concerns as well, including 99-year leasehold, future maintenance issues, houses built very close to each other in a small piece of land, etc.

Also, I think it's a wrong perception that foreigners cannot buy landed properties in Singapore. I've seen many of them who are able to do so. They just need to get approval from the authorities.

These are good points. But the situation has changed now. Increase in psf for condo has outpaced cluster houses now.But if cluster houses have lower psf now, owners are less susceptible to downturns comparatively to a similar sized condo.

[ysyap]

Most cluster houses are selling above $2mil in OCR which essentially is already more expensive than 90% of OCR PC, including PHs, therefore it is still a risk during downtimes to sell. :rolleyes:

[kingkong1984]

It's a strange creature.

You dun need an elephant when a cow can do the job.

The elephant eat and shit a lot more than the cow.

The ivory had been removed by the developer already.

A case of too big to some, too small for some. And the small is the one with deep pockets.