Saturday, September 25

What You Need to Know About Landed Properties in Singapore

Landed properties, like the Pollen Collection landed property, are commonly known as residential properties, wherein the owner holds the land title. A landed property is the crème de la crème in Singapore. According to a 2018 statistic, they reach up to 5% of the entire quantity of residential estates, which is roughly no more than 70,000.

Types Of Landed Property

Singapore landed properties have different categories. They are primarily categorized into Detached, Semi-Detached, Good Class Bungalows, And Terraces (Intermediate And Corner Terraces).

Detached House

They are generally referred to as Bungalows. Detached houses are standalone landed property that doesn’t share a common wall with another residence, with a 10-meter minimum frontage width and a minimum land size of 400 square meters for the detached.

Semi-Detached

These are landed properties constructed in pairs, with two homes sharing a wall between them. Two hundred square meters is the smallest land size for semi-detached houses and an 8-meter minimum for frontage.

Good Class Bungalow (GCB)

It is perhaps the most prestigious property type you can have in Singapore. There are about only 2700 GCBs in Singapore found in 39 gazetted GCBA. Good Class Bungalows must be at least 1400 square meters land size with a minimum of 18.5 meters frontage width.

Terrace

There are two terrace types, Intermediate Terrace and Corner Terrace. The row of houses’ last unit is the corner terrace. It is relatively identical to semi-detached with a single common sharing wall with a neighbor. Two hundred square meters is the minimum land size for a corner terrace and an 8-meter minimum for frontage. On the contrary, an intermediate terrace is shared to the sides of both walls of the neighbors. The intermediate terrace’s minimum frontage width is 6 meters and a minimum land size of 150 square meters.

In Singapore, only the country’s citizens are qualified to acquire landed property. Singapore PR and Foreigners aren’t eligible to purchase one in Singapore unless approved by the Land Dealings Approval Unit (LDAU). Moreover, only Singapore citizens could purchase GCBs.

Advantages of Living in a Landed Property in Singapore

Stable Asset Growth

There’s an estimated capital appreciation of near 12% every year. That wins over most investment vehicles, usually, incline towards around 3-7% for low-risk investments. Moreover, the Real estate doesn’t need to be inexplicable with markers and indices observed from the stock market. All it needs is a basic knowledge of land prices, construction costs, and supply.

Less Prone to Speculation

Individuals that choose to put their funds in landed properties, like the Pollen Collection landed property, ideally aim for great value purchases. Purchasing an undervalued land is a no-brainer, but it’s often secured relatively fast by real estate developers unless you’re busily knocking on doors every day to collect such data.

Privacy

Purchasing residential landed property also implies that you have ownership of the land which your house is situated on. That would also imply that you’re provided with that privacy. By getting a great distance as a setback, passersby would not be able to look into your living areas if they stroll past. Choosing to live in a residential landed property likewise means that there would also be less people within the neighborhood generally, at any time. That, in turn, makes a safer community, as you know all the residents in the neighborhood.