Landed properties in Singapore are highly sought after due to limited supply and scarcity of land. As such, landed properties in Singapore have higher value appreciation compared to non-landed properties. According to Asia One‘s article, there are only around 1,352 landed properties slated to be built within the next five years.
Properties in Singapore are usually freehold or leasehold tenure. Freehold property gives the buyer ownership to the property whereas property on leasehold tenure gives the buyer the rights to the property for the duration of the lease, usually for a period of 99 or 999 years. When the lease expires, the property will be returned to the government. Comparing the two types of tenure, freehold properties usually command a higher price as compared to leasehold properties.
Landed properties can be categorised into 5 different types: Terraces, semi-detached, detached, good class bungalows and cluster houses.
Known as row houses, terrace houses are properties where a row of houses are joined together and share side walls. Each house has its own roof. In Singapore, terrace houses are usually one to two storeys, but the newer houses can be up to three to four storeys high.
A semi-detached refers to a pair of houses separated by a wall partition. Both the houses are identical with same layout.
Typically known as bungalow, a detached house is a stand-alone property with its own walls and not shared with any neighbour.
Good Class Bungalows
Usually located in prime locations, good class bungalows are essentially detached houses that are at least 1,400 square meters and two-storeys high. With the huge land area, amenities such as swimming pool and garden can be built. Good class bungalows are highly sought-after by high net-worth individuals as there is a limited number of good class bungalows in Singapore.
A hybrid development, cluster houses refer to a group of landed properties that share common amenities like swimming pool, carparks and gym. These condo-style landed properties can be a mixture of terraces, semi-detached or bungalows.
Property Prices To Increase
There are various types of landed properties that you can invest in Singapore. In recent years, landed properties in Singapore have seen an upward increase in prices due to a lack of supply. According to Morgan Stanley’s forecast, property prices in Singapore is set to double by 2030. With that in mind, investing in landed property is the way forward.
All information in this article is correct to the best of our knowledge and belief at the time at which the article was originally published.
This article was written in the author’s personal capacity. Any opinion expressed in this article are the author’s own and
do not reflect the view of Vivaz Capital Pte Ltd.
Vivaz Capital, a subsidiary of Vivaz Group Holdings Pte Ltd, is a private marketing and consultancy firm, headquartered in Singapore.
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