23/05/2023
🏘️ Considering a Landed Property in Singapore? Here's What You Need to Know!
Did you know that landed properties make up only 5% of residential properties in Singapore? Talk about exclusivity!
🌟 In this video, let me dives deep into the four segments of landed properties, helping you make an informed decision. Let's take a look!
🔹 Segment 1: These are the oldest properties, over 30 years old. They're perfect for rebuilding, with land costs ranging from $350 to $500 psf and a reconstruction cost of at least $1.5M to $2M.
🔹 Segment 2: Properties between 20 to 30 years old, still structurally sound but may benefit from Addition and Alteration (A&A) work. Expect slightly higher land prices compared to Segment 1, with A&A costs adding $200 to $300 psf to the overall expenses.
🔹 Segment 3: Newer properties, around 10 to 15 years old, built to their maximum potential and in good condition. While A&A won't be necessary, some renovation may be required, starting from $200k onwards.
🔹 Segment 4: Brand new properties developed by builders, move-in ready but come with a higher price tag, potentially starting from $5M.
So, which segment should you consider?
I suggests weighing two main factors: entry price and time horizon.
Segment 1 properties have the lowest entry price, but with lengthy reconstruction periods and costs.
If time is of the essence, Segment 4 might be your best bet. The overall costs of reconstruction or A&A in other segments could be comparable, especially considering the potential increase in material and manpower costs.
Landed properties have seen impressive appreciation in recent years, ranging from 43% to 75% depending on the segment. With limited supply and high demand, they remain a coveted choice in Singapore's real estate market.
If you're considering a landed property now or in the near future, reach out to me for more facts and figures about this exclusive class of property. Don't miss out on this opportunity! ✨