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Do you like to have a better idea about which type of landed properties would best suit your lifestyle needs?
Redbrick Mortgage Advisory
Edited 12 Apr 2023
Maestro at Redbrick Mortgage Advisory
Landed property – a scarce yet valuable resource. Many of us desire to live in and own a landed property in our lifetime. However, Singapore’s scarce land makes landed properties not only limited but also extremely expensive. Furthermore, as we all know, land prices have been increasing at an exorbitant pace. Why is it that so many of us still want to live in landed property? And if given the chance, what should I look out for before purchasing one?
Like its name, landed property refers to properties that are directly attached to the land.
There are several types of landed properties. They include terrace houses, semi-detached, Bungalows, Good Class Bungalows, Shophouses and Cluster Housing.
Starting off with the types of landed properties.
Terrace houses consist of a row of at least 3 dwelling houses sharing common walls. There are 2 types of terrace houses – classified by setback requirements:
Type I Terrace House:
Type II Terrace House
Corner terraces often yield a higher price due to its larger frontage at 8 metres, compared to terraces in the middle at 6 metres.
A semi-detached house is made up of one-half of a pair of 2 houses separated by 1 common wall between them. This wall can either be beside or behind one house.
Semi-Detached houses have a minimum plot size of 200 sqm, with a minimum plot width of 8 metres for side-to-side houses, and 10m for back-to-back semi-detached houses.
As long as the plot size and width of the property meets guidelines, terrace houses can be redeveloped into semi-detached housing.
There are 2 types of Bungalows in Singapore – Bungalows and Good Class Bungalows (GCBs).
This property type is one of the most prestigious property types anyone can own in Singapore, only falling behind Good Class Bungalows. They have a minimum plot size and width of 400 sqm and 10m, respectively.
There is a maximum site coverage of 50% imposed on Bungalows.
Good Class Bungalows (GCBs) are known as the most prestigious type of landed property in Singapore due to its prestigious nature.
Good Class Bungalows have several unique features:
Shophouses – one of the most unique types of landed property in Singapore. Its beautiful facade and unique interior are what charm many. Coupled with the rich history of the shophouse, many people yearn to live in one of these shophouses.
Shophouses hold much historical significance in Singapore. Here are some of its features:
However, there are many guidelines to follow if you were to purchase one of these, given its conservation status. Some of these guidelines include:
Cluster housing refers to a hybrid housing scheme that consists of homes with identical styles, designs and spaces. Residents get to enjoy living in a landed property with condominium-like facilities and amenities.
Many enjoy living in cluster housing due to its security, safety and the various amenities it provides. Cluster housing are mostly gated complexes with amenities such as swimming pools, gyms and even BBQ areas for its residents to use.
Some key features of cluster housing include:
However, of course, you would have to pay for maintenance fees if you were to own a cluster home. This would range from $300 to $1250 per month, depending on your strata size. Usual condominium rules would also apply to owners of cluster housing. Due to these limitations, some dislike the idea of owning a cluster home. This is the case especially if you and your family are not planning to use the facilities such as swimming pools and gyms, as you would still have to pay for maintenance fees (which can really add up!) monthly.
Owning a landed property is not cheap, given the land scarcity problem Singapore faces. However, if you have the opportunity to own a freehold landed property, it is a great investment opportunity for you. Now that you know more about the different landed property types, do you have a better idea about which type of housing would suit your lifestyle needs the best?
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Redbrick Mortgage Advisory
Edited 12 Apr 2023
Maestro at Redbrick Mortgage Advisory
Largest independent advisory in SG 👨💼👩💼🏢 Provides unbiased advisory for home loans, property financing and refinancing
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