A very uncommon case of “landed public house” has just brought in $958,000 on the resale marketplace. It is very rare to find a landed property in Singapore these days with just one million!
According to The Straits Times article dated 12 June 2015, this rare unit is a two-storey terraced house in Jalan Bahagia in Whampoa is one of merely 285 such houses here.
Found in Queenstown and Whampoa, these units come under Housing Board rules. They were constructed decades ago the forerunner of HDB, by the Singapore Improvement Trust. The 241 sq m house sold before this week is among the greatest such units to have changed hands recently.
The price works out to about $370 per sq ft (psf).
In contrast, private landed terraced houses nearby have gone for more than $2,200 psf.
Nonetheless, prices more than $1 million for a 99-year lease for a freehold property or a new private house still can be found in some parts of Singapore.
This three-room terraced unit has less than 60 years left on its lease, which began in 1972. Buyers might have to consider renovation prices as well, given the age of such properties, which is an important factor when buying a landed private property in Singapore.
Nevertheless, HDB terraced units are much sought after when they hit on the market. In March, a larger HDB terraced unit in Jalan Ma’mor, also in Whampoa, went for $1.06 million. That unit was 280 sq m, which made it an even better deal at around $350 psf. Its lease started in 1972.
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