Home ownership is a major part of the Singaporean dream. There are many reasons as to why Singapore is a great place to invest in a landed property. It’s a fast-growing island nation, it’s safe and secure, the government is stable, there’s plenty of jobs and more.
What is a landed home?
A landed home is a house that has direct access to land. In other words, the house has its own front yard and backyard. This differs from an HDB or condominium unit, which do not have their own private areas.
Bungalow is a detached landed house with its own land title. The property is surrounded by land and has no common walls with any other property.
Terrace house is a house with its own land title that is part of a row of at least three houses with common walls between them. Corner terrace houses are usually more sought after because they have a larger land area.
Semi-detached house is one half of a pair of two houses, each with its own land title, separated by a common wall along one side of the premises. They are usually joined side by side, but they can also be joined back to back.
Why invest in a landed home in Singapore?
There are a lot of rules and regulations in Singapore, especially when it comes to owning a landed property in Singapore. As it is an island country, there are very limited amount of land to build houses on. This has made it more expensive for home buyers to own landed properties in Singapore.
But what if you could get the same benefits from owning a landed property but at a fraction of the price? What if you could get all the benefits from owning your own place without breaking your bank?
Why invest in a landed home in Singapore? Because it allows you to do just that!
Landed home sales are increasing
The price index for landed property rose from 173 to 185 over the same period, representing a 7% increase. This rise was caused in part by a significant percentage increase in transaction volumes in landed property over the last year.
As a result, landed home Singapore prices increased much more sharply than non-landed property prices in general, and the overall price index increase was driven in part by landed property transactions.
Less Concern for Accessibility
Lack of access to public transportation, which has traditionally been one of the most significant disadvantages for landed property owners, is now less significant due to the reduced commuting afforded by home-based working and learning.
This sentiment is reflected in the relative success of Rest of Central Region non-landed private properties, which saw a 6% increase in the price index over the last quarter.
Privacy
The COVID-19 pandemic has increased the desire to get away from the crowds. With larger condo developments housing thousands of people, condo dwellers are forced to interact with a large number of people on a daily basis.
Crowds are unavoidable in the lift during morning rush hour, for example, and there may also be competition for common areas such as the gym, swimming pools, and playgrounds.
You can use bank loan
Landed property buyers, like those who purchase private condominiums, can finance their purchase with a bank loan.
Private property purchases are subject to the same loan to value (LTV) and total debt servicing ratio as bank loans. If you do not have any outstanding loans, you can borrow up to 75% of the loan amount with a minimum cash down payment of 5%. Our total debt obligations, including our mortgage, must not exceed 60% of our gross monthly income.
If you’re looking for a low-cost, high-quality interior designer for your landed home in Singapore, look no further. If you have any further questions, please contact Sheinterior. You can get project management remodeling depending on your budget and interests. Sheinterior also provides a low-cost Singapore renovation.
Get free estimates for your next project, and we’ll match you with a designer who fits your style and your budget. We would be happy to provide any consultation or guidance you require in order to make these decisions so that you can find what works best for your space. What Kinds of Ideas Do You Want? Contact Us Immediately!
