A house to call my own
Landed properties include bungalows, detached, semi-detached, terraces and cluster homes.
Landed homes offer spaciousness, ample living area and privacy that condominium developments may lack. The estates where landed neighborhoods are located are generally more spacious and with wider inroads that are dotted with trees and shrubs. In addition, the prestige of owning the piece of land where your home is built, is definitely a sense of pride for the home-owner. Landed properties usually come with a garden porch and car park lots, some developments are also well-connected to major expresswways and in close proximity to MRT stations.
Landed property in Singapore is considered a goldmine investment as land here is scarce and the government generally releases few land parcels for landed residential use. As at 1st quarter of 2012, the total units of landed private homes stands at 70,159 which represents a mere 6% of the total housing stock of 1,198,192 units (including HDB units). Under the Government Land Sales (GLS) Programme 2011, there were only two sites slated for landed housing development. These two sites could only generate 115 landed residential units as compared to the 23,590 residential units that potentially be generated from sites under the confirmed and reserve lists. In the first-half 2012 GLS list, there were no landed housing sites released. Source: URA Realis and HDB Key Statistics annual report.
Although owning landed properties is the aspiration of many Singaporeans, the dream of owning one can appear far-fetched thanks to the shrinking supply. Potential existing sites such as older landed estates eventually are sold to make way for small boutique developments or condominium projects. Hence, the limited stock of landed homes, especially in prime districts, has made them become a more prized asset than ever before. With limited supply in the pipeline, the price of landed homes are more inclined to appreciate in value over the years as compared to condominiums. In addition to the existing high demand from Singaporeans over the last decade, foreigners who are used to landed living would need to seek approval from the Singapore Land Authority (SLA) to own landed properties when settling in Singapore. (Click here to read more )
Take a look at some of Far East Organization's landed homes that will spark your interest: