Good news to those who are trying to sell their landed homes. According to the recent media reports, more and more units were purchased from the months of January up to April this year. There was a big decline in sales before since it hit a record high last year. But thanks to the noticeable drop in prices, many landed homes are now under these new owners’ name.
Based on the records from the government, there were about 316 homes bought during the said duration. If it would be based on this figure, the increase on landed homes sales has already reached more than 15 percent year after year. During the Q1 of 2015, the prices of these properties had a great decrease of 7.2% compared to their momentum during 2013’s third quarter.
One of the best done deals during the early months of 2015 is the bungalow at the Bishopsgate. This fully-furnished unit was sold for no less than $2,190 per square foot or about $33 million as a whole.
Samuel Eyo, the managing director of Christie’s Homes in the country, said that most buyers are looking for practical deal from developers. The latter are now trying to sell these landed properties in order to avoid the penalties that may occur from Singapore’s Qualifying Certificate. Aside from that, as condominium properties are on the rise on luxury areas, there is now a limited supply of these landed properties particularly in the prime regions of Singapore.
William Wong of Realstar Premiere Group has another view about the rise of sales on landed homes. He said that the significant increase is probably because of the big possibility of revising the Additional Buyer’s Stamp Duty for those who will buy properties for the second time.
Regardless what the reason is, Wong said that this is the ideal time to buy if you are after landed properties. Sooner or later, the market will be on the roll again and the value of these properties will rise accordingly.
To view other landed properties available for sale, you may visit Whitley Residences (located in District 11), Palms at Sixth Avenue (Bukit Timah Area), Charlton 18 (Minutes' walk to Kovan MRT Station). For more upcoming developments, you may also click on High Park Residences (priced from $3xxK), Sol Acres (new executive condominium at Choa Chu Kang), Robin Residences (District 10) and Hilbre 28 (situated at Hillside Drive with 2, 3, 4 and 5 bedroom triplex)