Landed properties are properties that are attached directly to the land that you purchase.
There are a few types of landed properties in Singapore, mainly:
- Terrace house
- Cluster house
- Semi-detached house
- GCB (Good Class Bungalows)
The main difference between a landed property, and a non-landed property is the land ownership/title.
For a landed property, the plot of land that the house sits on belongs to the owner.
Non-landed Properties includes:
- HDB (The Housing & Development Board) Buildings
- DBSS (Design, Build and Sell Scheme) flats
- ECs (Executive Condominium)
- Private condominiums
Landing property price: how is it decided?
The price of a landed property is decided by many factors, some of which are:
-size of land
-the type and age of the property
-whether it is a brand new development or a resale property
-the current market conditions.
As you can see, there are many things to consider when deciding on the price of a landed property. Size and location are the two most important factors, as they will affect the overall value of the property.
Location greatly affects the value of the property, based on district maps – different properties can have different value within the same district.
The type of landed property will also affect the value. For example, a bungalow will be valued higher than a terrace house.
The age of the property is another important factor. The brand new development will always be priced higher than a resale property.
Finally, market conditions play a role in deciding the price of landed property. If the market is doing well, prices will be high. However, if the market is down, prices will be lower.
Postal code starting numbers do affect valuation as well, as a quick measure. Properties with similar postal code can have different values.
For example, a property with a postal code starting with “1” will be valued higher than a property with a postal code starting with “3”.
This is because properties with postal codes starting with “1” are located in prime districts, while properties with postal codes starting with “3” are located in secondary districts.
Where do i search for landed property?
There are many ways to search for landed property.
You can start by searching on PropertyGuru, 99.co, or EdgeProp.
These websites will allow you to filter your search based on various criteria, such as price, location, and type of property.
You can also search for landed property through real estate agents.