69 Ocean, Landed Prooerty
An exclusive landed exhibition featuring over 150 landed homes for sale will be on display this weekend, 18th & 19th August 2018 from 12pm to 6pm.
The exhibition will take place at 66 Eng Watt Street #01-06. Landed homes on display, ranges from S$1.9 million terraced house to a S$58 million Good Class Bungalow. Event highlights also include talks on landed homes market trending, contract negotiations, construction loan financing and house reconstruction.
According to URA Property Market Information, landed properties makes up only 20 per cent of the total private residential stock (excluding executive condominiums), with only 73,150 completed units out of a total of 366,743 private residential stock as at Q2 2018. The inventory for executive condominiums stands at 31,566 as at Q2 2018.
Stock of landed increased marginally by 3,407 units or 4.9% since the end of 2010, while stock of non landed surged close to 56% with more than 105,000 units completed in the same period.
Prices of landed properties have fallen from the peak in Q3 2013 to Q2 2017 and begun recovery since with strong buying activities from pent-up demand. In the first seven months of this year, sales volume hit 1,599 or 31.8% increase compared with the same period last year (1,213 transactions). In fact, the number of landed transactions sold in 2017 hit 2,392, a new high since 2012.
Bulk of the thousands of en bloc Singaporeans beneficiaries, expecting to receive their sales proceeds second half of this year onwards, could potentially push landed prices upwards during the hunt of replacement homes.
Demand for landed property in land-scarce Singapore is expected to rise over the long term. With the continued imbalance raise of stock between landed and non-landed, past trends may not necessarily hold in the near future due to increased scarcity and exclusivity.
URA Price Index of landed properties rose more than 68% from Q4 2006 to Q4 2016, higher than the 42% increase for non-landed properties over the same period.
In time to come, the completion of the Thomson-East Coast Line is also expected to benefit owners of landed homes located near the proposed new MRT stops.
Article contributed by SRI.
