Category Archives: Landed Property

Make Singapore land Great again! Courtesy of 38 Oxley Road

There is a lot of media limelight on this family saga on the residence of Singapore’s first Prime Minister. How much does this plot of land worth?

Private properties rose to 27% of total housing stock

THE number and proportion of private properties in Singapore grew in the decade between 2006 and last year. The total number of private condominium units and landed homes went up from 243,000 to 372,000 in that time, taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

Meanwhile, the number of Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 during the period. But despite this increase, the proportion of HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

National Development Minister Lawrence Wong unveiled these figures in Parliament. The ratio is “expected to remain stable” over the next few years, with 72 per cent of all dwelling units projected to be HDB flats in 2020.

However, he added, this proportion refers only to the housing stock in Singapore – not the total proportion of people living in flats, which remains at about 80 per cent.

Leases running out for these old homes

The reality of an expiring lease is slowly seeping in for an estimated 30 households – out of 190 private landed homes – still living in the Geylang Lorong 3 estate.

Besides Geylang Lorong 3, there are at least three other private residential estates with fewer than 40 years left on the lease. At Jalan Chempaka Kuning in Bedok, a 70-year leasehold property with 17 years left, residents have been asking the land’s trustee to extend the lease at each annual general meeting.

Four private estates with less than 40 years of lease left:

A) GEYLANG LORONG 3

Tenure: 60-year leasehold from 1960 Lease expiry: 2020

Geylang Lor 3.png

B) JALAN CHEMPAKA KUNING/PUTEH

Tenure: 70-year leasehold from 1964 Lease expiry: 2034

Jln Chempaka kuning.png

C) FUYONG ESTATE, BUKIT TIMAH

Tenure: 99-year leasehold from 1947 Lease expiry: 2046

fuyong estate.png

D) RIFLE RANGE ROAD

Tenure: 99-year leasehold from 1952 Lease expiry: 2051

riflerange road.png

Katong/St Patrick Semi Detached house @$5k+ only

Beautiful katong semi detached house for rent. Near Katong eateries, malls, schools ( Tao Nan, Ngee Ann, CHIJ, St Patrick’s, Victoria School and Junior College). Partially furnished with garden. 4 bedrooms with guest room at level 1. 3800/2800sqft. Available now. Call David at 94772121 for viewing.

http://www.sgbayhomes.com/19593941

Mountbatten-Katong Bungalow for rent

Stay at Katong area — Mountbatten Katong Bungalow for rent. All rooms with ensuite. With pool. Available now! With pool. 5300/3700sqft.  Avail now at $8K or view to offer! Call King @94772121 for viewing details.

http://www.sgbayhomes.com/19081534

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Q4 private home prices have the lowest dip in the past 2 years

The private residential prices in the island registered the lowest quarterly decline in more than 2 years for the last quarter of 2015. The drop of 0.5% in the URA’s flash estimates coincides with the full year drop of 3.7% in private home prices over the past year. In 214 the price drop is at 4%. After 9 consecutive quarters of price decline, the island’s private home prices dropped 8.4% from the peak of 3rd quarter of 2013.

HDB prices however registered a 0.2% rise over the last quarter. This leads to a contraction of prices for the whole year to be 1.5%. If this stabilisation trend continues for the HDB resale prices, the HDB upgraders will be more confident to move to private suburban market, thus possibly even lead a slight recovery in the sector.

Some property consultants has indicated that this is a sign for further soft landing of prices and thus justify the cooling measures implemented so far. Others feel that the market has found a new equilibrium and thus the cooling measures may take a longer time before they are being lifted.

Based on the URA/HDB flash estimates the Q4 price/year-on-year movements are as follows:

Prices of non landed private homes
1. Core Central Region (CCR) -0.4%/ -2.6%
2. Rest of Central Region (RCR) -1.6% / -3.9%
3. Outside Central Region (OCR) -1.6% / -3.7%

Segments
1. All residential -0.5% / -3.7%
2. Landed property -2.1% / -4.4%

For HDB the statistics are as below
Price movement +0.2% / -1.5%