There are indeed a lot of considerations when you are thinking of buying property. However, as they say in real estate, location is everything.
Location beats aesthetics because it’s what influences and impacts a real estate property’s future value.
In speaking of value, the most valuable type of real estate properties is a landed property in Singapore. Mainly because of their sheer rarity and the topographical features of Singapore, landed properties are the true real-estate must-haves for savvy real estate moguls and wise homeowners who are potential investors.
What are landed properties (and should you really set out to buy one)?
The best asset to have is still a land property. So for first-time investors or sharp-witted homeowners looking to upgrade, a landed property in Singapore is your best bet. How so? Read on.
A landed property is a residential property owned by the owner of the land. He or she is not just owning a portion or unit in a building, like the typical condo or HDB flat owner.
As a regular limitation, only Singaporeans are allowed to purchase a landed property for sale in Singapore. Also, it falls under the category of private residential property. Therefore, a Singaporean citizen cannot simultaneously own a land property and an HDB.
In Singapore, there’s only a limited supply of land. And since the demand for space and property is on an upward trend, there is a big chance that there will be a scarcity in land properties.
Pretty soon, you will see lesser and lesser land properties for sale in Singapore. Owners will definitely hold on to these scarce assets because, as a rule of thumb in economics, higher demand and lesser supply will drive up prices.
And because landed properties are rarer, there is almost a guaranteed increase in the future price of landed properties. What does this result to? Greater capital gain in the future, of course. The gap in prices will gradually increase and definitely get wider as time goes by.
Another factor that home-buyers and investors don’t consider is that there is no plot ratio for landed properties. This is because a landed property goes by planning restrictions and guides such as height restrictions, above mean sea level (AMSL, and individual floor heigh restriction.
It also makes a lot of sense to invest in a landed property rather than a private condominium because the monthly cash outlay is almost the same for both property types. You’ll be cashing out for a property who’s land you already own for almost the same price, or maybe slightly higher, than a private property that you only own a piece or unit of.
Also, the beauty of a landed property in Singapore is that because you own the land, you ve control over various construction properties. You can be as unique as your imagination and resources will allow you.
Of course a landed property for sale in Singapore has its own limitations. While you have the freedom to customize the design of your house, it comes at a price.
You aren’t able to enjoy as good an air flow or view as that of high rise condos. Also, most landed properties aren’t as near to MRTs and bus stops as HDBs flats or condo units, so commuting to work may pose a bit of a challenge.
However, if you want to get into the private property market, the ultimate goal is to own a landed property in Singapore. Whether a terrace house, a detached or semi-detached house, or strata-landed houses, having your own land property will prove to be highly valuable for you especially in the coming years.
Where to Find the Best Landed Properties
Now, looking for a landed property for sale in Singapore is like looking for a hidden gem. Because they aren’t as many as HDBs or private condos, landed properties are fewer and farther in between.
When searching for a landed property in Singapore, you need to check out the nearest MRT and bus stations. Getting to and from work or wherever you need to be can be a daily ordeal, so look for a land property that is not so hidden or far away from public transport station.
It’s also good to scout for nature when finding your ideal landed property. How much green space is near your area? Is it near a park or an area with natural flora and fauna? This is quite important in order to lead a healthy, balanced life.
Proximity to amenities is also a huge driver of market value for a landed property in Singapore. Check for nearby schools, hospitals, markets, shopping malls and groceries, and of course food Courts or hawkers. These daily necessities should be within reach in order to live a quality life.
Our latest sweep of the market reveals prime locations in the Orchard area and Bukit Timah. The Sentosa Cove is also a highly sought after area for landed property in Singapore. It is also the only area where non-Singaporeans are allowed to buy landed property.
It is also worth noting these locations for a good steal: a landed property in Novena that has a relaxing environment and convenience available through its nearby amenities.
A land property in Katong is also a choice location, with its numerous nearby food outlets and the upcoming train line being constructed to boost connectivity.
Now, say you have a budget of about $3 Million, where can you possibly purchase a landed property for sale in Singapore? The Belgravia Villa in Belgravia drive might set you back more than $2.6 Million, but its future gains is perceived due to the construction of the North-South Expressway which gives homeowners instant access to central Singapore.
The Morris Residences in Paya Lebar costs about $2.8 Million currently. Its proximity to Kengsinton Square, a large supermarket, can be a quick draw for some homebuyers. It’s also quite near to the North-East expressway in Serangoon which makes connectivity and transportation a bit easier.
Serenity Terraces is another good find for a landed property. A 10-minute walk to nearby Changi Road, this 1,800 square feetland property costs almost $2.9 Million and boasts of 5 bedrooms and six bathrooms. Quite a large area that you can convert into different types of space if you can afford the cash outlay.
Landed Properties: The Wave of the Future
The best reason to invest in landed properties is the most obvious one: there aren’t a lot of it going around. Pretty soon, it’s going to be a scarce commodity.
And this fact, coinciding with the uptrend that most Singaporeans are getting wealthier and have more purchasing and spending power, will make owning a landed property highly desirable and equally difficult to acquire.
This will continue to drive up its prices and, as an effect, those who have wisely invested on land properties will definitely reap the abundant benefits.
