In the previous decade, landed properties were mostly owned by the older generation. But today, it is a popular investment for many Singaporean families because of its stability. This has led the younger generation to venture into the market and purchase their own landed properties.
Landed properties in Singapore have always been a favorite investment due to their stability and security. This is mainly because of:
- The competitive rental market
- High appreciation rates
As a result, there are currently more than 10,000 households that are renting landed homes in Singapore, while at least 3,000 families have already purchased their own best landed property in Singapore.
The concept of landed property in Singapore is not a new one. It has been around for many decades. Landed properties are mainly situated in the central part of Singapore, with larger spaces and better access to amenities like shops, schools, transport networks, etc.
With the annual increase in house prices, there are many people who have been looking to buy their own landed property whether it is the cheapest landed property in Singapore or the opposite. If you are one of the many considering the possibility of venturing into landed property investment, you might want to know how much it will cost you. Before we discuss how much does it cost for a landed property, let us first understand what landed properties are.
What is landed property in Singapore?
Landed property refers to a freehold property. Freehold means that the land is owned by the seller and that ownership cannot be transferred or bequeathed to another party unless the seller willingly transfers ownership of the land to another party through a Deed of Assignment.
In Singapore, landed property is one of the most coveted types of real estate. It is considered to be more valuable than condominium HDBs because it’s generally priced higher. Homeowners seeking such houses need a bigger budget.
Types of landed property in Singapore:
Terrace
A terrace house is a type of house that has its own land title and forms part of a row of houses with common walls between them. The corner terrace houses (i.e., the two houses at the end of the row) are typically more sought after as they have larger land areas.
A semi-detached house
A semi-detached house, also known as a semi, is one of two houses that share one wall. Each home has its own land title, which can be very convenient for those who want to separate their living space from each other. The homes are usually joined side-by-side but may be joined back-to-back if you’re looking
A bungalow
Bungalow is a kind of property that was built in the past. It consists of a detached landed house with its own land title. The property doesn’t share any common walls with any other property and is surrounded by land space.
Good class bungalow
A good class bungalow is a kind of house that is usually categorised separately due to the unique characteristics that distinguish it from other types of bungalows.
The current average cost of landed property in Singapore:
The cost of landed property in Singapore can vary greatly depending on factors such as location, size, age of the property, and unique features. However, it is important to have an idea of the average cost of landed property in Singapore to get a sense of the market.Currently, the average cost of a terraced house in Singapore is around $2.5 million to $5 million. A semi-detached house typically costs around $3 million to $8 million, while a bungalow can cost anywhere from $5 million to $15 million or more. These prices are based on the property’s size, location, and the age of the property.
It is important to note that Singapore’s property market is dynamic and prices can fluctuate based on the state of the economy, government policies, and other factors. It is also important to note that the prices of landed property tend to be higher in prime locations such as districts 9, 10 and 11, which are considered to be the most exclusive areas in Singapore. In recent years, the prices of landed property in Singapore have remained steady, with a slight increase seen in some areas. However, it is important to keep in mind that the cost of landed property can vary greatly depending on the specific location and features of the property.
- Terrace House: S$1,800,000 – S$6,800,000
- Semi-detached house: S$3,200,000 – S$13,300,000
- Bungalow: S$3,800,000 – S$22,500,000
- Good Class Bungalow (GCB): S$9,900,000 – S$110,000,000
Another major factor that affects the price of a property is the cost per square foot. For example, a terrace-type of the property will usually go for about S$1,261/sq. ft; a semi-detached property for S$1,168/sq. ft; and a detached house for S$1,276/sq.ft.
In summary, the current average cost of landed property in Singapore is around $2.5 million to $5 million for terraced houses, $3 million to $8 million for semi-detached houses, and $5 million to $15 million or more for bungalows. These prices can vary based on the property’s location, size, age, and unique features, and it’s important to be aware of the dynamic nature of Singapore’s property market.
Don’t forget the cost of legal fees
What to look out for when buying landed property in Singapore? Legal fees. Yup, there are also legal fees for the law firm to do the heavy lifting for you. It’s usually a lot easier to just go with the bank’s default law firm, but you are free to engage another lawyer at a lower price if you want to. Additionally, there is also a stamp duty that is charged based on the value of your property.
Factors that affect the cost of landed property in Singapore:
There are several key factors that can affect the cost of landed property in Singapore. These include:
|
Factor |
Description |
|
Location |
The location of the property is one of the most important factors that can affect the cost. Properties in prime locations such as districts 9, 10 and 11 tend to be more expensive than properties in other areas. |
|
Size |
The size of the property, including the land area and the built-up area, can also affect the cost. Larger properties tend to be more expensive than smaller properties. |
|
Age of the property |
The age of the property can also affect the cost. Newer properties tend to be more expensive than older properties, which may require more maintenance and renovation. |
|
Unique features |
Properties with unique features such as a pool, a garden, or a view may be more expensive than properties without these features. |
It is important to consider these factors when evaluating the cost of landed property in Singapore. Location is considered to be the most important factor in determining the cost of landed property, as properties in prime locations can be significantly more expensive than properties in other areas. The size of the property and the age of the property can also have a significant impact on the cost. Properties with unique features such as a pool, a garden, or a view may also be more expensive.
In summary, the cost of landed property in Singapore can be affected by various factors such as location, size, age of the property, and unique features of the property. Among these factors, location is considered to be the most important factor that can affect the cost. It’s important to consider these factors when evaluating the cost of landed property in Singapore.
Comparison between landed property and other types of property in Singapore
When considering buying property in Singapore, it is important to compare the cost of landed property with other types of property such as HDBs, condominiums, and HDB flats. Here is a comparison table of the average cost of different types of property in Singapore:
|
Type of Property |
Average Cost |
|
Landed Property |
$2.5 million to $15 million or more |
|
Condominium |
$1.2 million to $3 million |
|
HDB flats |
$400,000 to $1.2 million |
It is important to note that the cost of each type of property can vary depending on factors such as location, size, age of the property, and unique features. However, in general, landed property is generally more expensive than condominiums and HDB flats.
Landed property is considered to be the most prestigious type of property in Singapore, often associated with luxury and exclusivity. They are typically larger, have more land area and offer more privacy than other types of property. Condominiums and HDB flats, on the other hand, are typically more affordable and offer amenities such as a pool, gym, and security.
Unlock the Key to a Seamless Landed Property Purchase in Singapore
Buying landed property in Singapore can be a complex process, but with the right knowledge and guidance, it can be made much easier. Here are a few tips to help you navigate the process of buying landed property in Singapore:
- Research the location: Before you start looking for a landed property, it’s important to research the location. Look for areas that are in high demand and have good transportation links. You should also consider factors such as schools, shops, and other amenities.
- Get pre-approved for a loan: Before you start looking for a landed property, it’s important to get pre-approved for a loan. This will give you an idea of how much you can afford and will also make the process of buying a property much easier.
- Hire a real estate agent: A good real estate agent can help you navigate the process of buying a property and can also provide valuable advice. They can also help you find properties that match your requirements.
- Be prepared to negotiate: Buying a property is often a negotiation process. Be prepared to negotiate on the price, closing costs, and other terms of the sale.
- Get a professional inspection: Before you buy a landed property, it’s important to get a professional inspection. This will help you identify any potential issues with the property before you buy it.
- Understand the legal requirements: Buying a landed property in Singapore involves a lot of legal paperwork. It’s important to understand the legal requirements and to have a lawyer review the paperwork before you sign anything.
By following these tips and using LSI keywords like research, pre-approved, real estate agent, negotiation, professional inspection and legal requirements, you’ll be well-equipped to navigate the process of buying landed property in Singapore and increase your chances of finding a property that meets your requirements.
Uncover the Hidden Costs and Unusual Financing Options for Landed Property in Singapore
When buying landed property in Singapore, it’s important to understand the available financing options. Here are a few options to consider:
- Housing loans: One of the most popular options for financing a landed property in Singapore is a housing loan. Housing loans are offered by banks and other financial institutions and can be used to finance the purchase of a landed property.
- Government grants: The government of Singapore offers a variety of grants to help with the cost of buying a property. These grants include the Additional CPF Housing Grant (AHG), the Special CPF Housing Grant (SHG), and the Proximity Housing Grant (PHG).
- CPF housing withdrawal: If you are a Singapore citizen, you can use your CPF savings to finance the purchase of a landed property.
- Personal loans: Another option to consider is a personal loan. Personal loans can be used to finance the purchase of a landed property, but it’s important to be aware of the interest rate and other terms of the loan.
By understanding the available financing options and LSI keywords such as housing loans, government grants, CPF housing withdrawal and personal loans, you’ll be better equipped to finance the purchase of a landed property in Singapore. It’s important to carefully consider the pros and cons of each option and to compare the interest rates and other terms before making a decision.
Buying landed property in Singapore can be a complex process, but…
with the right knowledge and guidance, it can be made much easier. This guide has provided you with a comprehensive understanding of the average cost of landed property in Singapore, the factors that affect the cost, the comparison between landed property and other types of property, tips and tricks for a smooth purchase, and the available financing options for landed property in Singapore.
It is important to remember that the cost of landed property in Singapore can vary depending on factors such as location, size, age of the property, and unique features. It is also important to research the location, get pre-approved for a loan, hire a real estate agent, be prepared to negotiate, get a professional inspection, and understand the legal requirements.
By following the tips and information provided in this guide, you’ll be well-equipped to navigate the process of buying landed property in Singapore and increase your chances of finding a property that meets your requirements.
Additionally, it is important to consider the renovation or interior design aspect of the property as well. Renovation or interior design can be a daunting task, but with the help of a professional and experienced company, such as SHEinterior, it can be done seamlessly.
SHEinterior is a reputable and experienced interior design and renovation company that specializes in landed property in Singapore. We have a team of experts that can help you with the entire process of renovation or interior design, from planning and design to construction and finishing.
Our team has the knowledge and experience to help you make the most of your property and ensure that it meets your needs and preferences. By hiring SHEinterior, you can rest easy knowing that your property renovation or interior design project is in good hands.
We will ensure that your project is completed on time, within budget, and to the highest standards. Contact SHEinterior today to schedule a consultation and take the first step towards the property of your dreams.
Will a landed property be a good investment for the future?
Investing in landed house properties is a good choice because of their popularity among homeowners and home developers. The property’s exclusivity and demand among foreign buyers and investors also contribute to its high prices, which are predicted to stay consistently high as time passes.
In big cities, finding the right house is not easy. Searching for a landed property in a city can be complicated and time-consuming. SHEinterior is the right service that allows you to quickly find, compare, rent, and buy a landed property to your criteria. Companies provide their best offers to you, without intermediaries!
