A Good Class Bungalow (GCB) at Cluny Road has fetched a record land price per unit of S$33 million (approximately S$2,038 psf) on a freehold land area of approximately 16,200 sq ft. This amount surpasses the previous record of S$1,899 psf on land area that Chew Hua Seng, Chairman and Founder of Raffles Education, paid for 32H Nassim Road in 2007. The latest transaction was handled by Singapore Home...
Landed Property
Prices for landed properties have skyrocketed by 63 per cent since the property market hit a low in the second quarter of 2009. In the 12 months of last year, the overall landed property index climbed 30.8 per cent, with prices for detached houses gaining a whopping 37.6 per cent, while prices for semi-detached and terrace houses grew 26 per cent. While most home searchers believe that landed property...
The gap between landed and non-landed property prices has narrowed in psf terms over the past two years, according to analysis by a real estate company. As of end March 2009, detached, semi-detached and terrace houses transacted at discounts of 38, 36 and 23 percent respectively, as compared to non-landed units in psf terms. While the gaps narrowed by end 2010, landed homes are still transacting at more...
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...
In a year fuelled by strong liquidity and economic growth, bungalows were the stars that led the surge in the Singapore property market in 2010. Data from URA shows that its price index for landed homes climbed 30.8 per cent last year. The sub-index for detached houses, or bungalows, soared 37.6 per cent against a 5.6 per cent rise in 2009. The index for non-landed private homes rose 14 per cent last...
Personal gardens and car porches look set to become even rarer as the share of landed homes in Singapore falls. According to Savills Singapore, around 2,900 new landed housing units were launched in the first three quarters of last year, accounting for 2.9 per cent of all the 99,200 new private homes rolled out in that period. This has dropped from 8.2 per cent in 2000. Of the 52,700 new private homes...
Luxury homes in the area now rarely sell for less than $1,000 psf The luxury end of the housing market remains hot as a bungalow in the prime district at Leedon Park fetched a record $61.4 million in December last year, or $1,467 per sq ft for the 41,853 sq ft site. The site is believed to have been the same one that in June of last year was bought for $59.4 million, suggesting the buyer may not have...
When the real estate figures for the private housing market for Q3 2010 were released in late October, the landed sector pulled off a huge surprise by going against the market trend. Instead of slowing down like the rest of the market as it absorbed the impact of the most recent set of cooling measures, prices rose at an accelerated pace. The rate of price increase for high-rise apartments and...
2010 has been an impressive year for the landed housing segment, with prices rising 23 per cent in the first three quarters, including a 7.7-per-cent increase in the third quarter from the second. Amid the outstanding overall results, the superlative in the landed housing segment - good-class bungalows (GCBs) - continued to shine. GCBs are essentially detached homes sitting on at least 1,400 sq m of land,...
The record $36 million deal for a Sentosa Cove bungalow in April this year seems to have fizzled out, with the buyer forfeiting a cool $500,000 deposit and more. Lianhe Zaobao reported yesterday that the buyer of the 14,983 sq ft, 99-year leasehold site on Paradise Island recently backed out of the deal. He may have cold feet after learning from the widespread coverage of the deal at the time that his...