Landed properties may have been slightly forgotten amidst the hive of activity surrounding July’s new round of property cooling measures.
Terrace houses in some districts may be worth its money and more
Some buyers, in particular, HDB upgraders and some investors, may have staved off purchasing non-landed residential apartments for now. But are the additional amounts worth footing for a good piece of freehold land to call your own?
Bungalows often come with large total quantum, as do semi-detached houses.
But terrace houses are some of the more palatable options in the landed property sector for those looking to make their first foray into the market. 2017’s median per sq ft price for terrace houses was $1,091 psf, coming in below that of the island-wide median of $1,205 psf.
Location of landed properties may work to their benefit in the long-term
District 19 where Punggol, Sengkang and Serangoon Gardens sit, is one of the more popular areas for those seeking to purchase terrace houses.
In districts 17, 22, 25 and 27, prices of terrace houses range between $820 psf and $880 psf, considerably lower than that of landed properties in the prime districts and in the East. In comparison, landed homes in the former are more affordable.
Older or original residents in these areas often came from the rising working or middle classes back in the 50s to 80s and many of them are moving away or downgrading to more manageable properties. This could account for some of the renewal of the neighbourhoods in these districts.