In a land scare country like S'pore occupying about 700sqkm and with apopulation of about 4.68M. Is it true that 85% dweller living in HDB, 12% living in condos & pte apt while Top-Notch 3% S'porean living in Land-Titles Landed property? In Fact, 1.5% FH, 1% 999yrs LeaseHold & 0.5% 99yrs LeaseHold? Why nowadays, government never have land sales which is FreeHold & when they acquire FH property, they put through land sales as 99yrs LeaseHold? Is It mean FreeHold Landed Property will be very very limited & talk of the town in year 2008?
Posted by Albert Lim on Mar 12, 2008 in General Questions | 52411 Views
Comment added by Albert Lim - Jul 16, 2009
I would like 2 comment rdg post by "buyer" dtd 16/7/09. It definitely make commercial sense 2 buy a FH GCB of land size above 40000sqft for above S$40m b'cos of land-title involve, d owner own this prime plot of land compare 2 buying S$29m for 99yrs Strata-title condo where u don't own any land & once lease is up, u may not allow 2 top it up even if u r allow may cause u a bomb
I would like 2 comment rdg post by "buyer" dtd 16/7/09. It definitely make commercial sense 2 buy a FH GCB of land size above 40000sqft for above S$40m b'cos of land-title involve, d owner own this prime plot of land compare 2 buying S$29m for 99yrs Strata-title condo where u don't own any land & once lease is up, u may not allow 2 top it up even if u r allow may cause u a bomb
Comment added by Albert Lim - Jul 16, 2009
Not 2 4get, Prince Jefri Bolkiah of Brunei who own the huge plot of GCB at nassim rd of land size 110000sqft is value by independent valuer 2 b worth S$120M, so any good size of FH land-title at GCBs zone is definitely worth it.
Not 2 4get, Prince Jefri Bolkiah of Brunei who own the huge plot of GCB at nassim rd of land size 110000sqft is value by independent valuer 2 b worth S$120M, so any good size of FH land-title at GCBs zone is definitely worth it.
Latest Answers by Real Estate Professionals (6 Answers)
Answer Posted on Mar 12, 2008
Hi Albert,based on the transaction volume in the Real Estate market, it is estimated that 85% of the market are HDB flat dwellers.Landed property dwellers may not be top notch because there are landed properties in the resale market asking for less than a million SGD.
Based on the Restrictive Covenants listed in the Register of Deeds, the government has the right to amend the 1)Zoning 2)Plot Ratio 3)Height Limit 4)Lease Period.
The talk of the town is not on Freehold properties.Instead the table topic is whether it is the right time to invest in properties due to the fluctuating stock market performance.
Based on the Restrictive Covenants listed in the Register of Deeds, the government has the right to amend the 1)Zoning 2)Plot Ratio 3)Height Limit 4)Lease Period.
The talk of the town is not on Freehold properties.Instead the table topic is whether it is the right time to invest in properties due to the fluctuating stock market performance.
Answer Posted on Nov 2, 2010
FH & 999 yrs properties are Pre-PAP. It is true that FH is sought after. However, with more and more residential land sold as 99yrs, the price gap is narrowing. The main advantage of a FH land is in it's perceive value. That value is diminishing over time especially when balance lease can be top-up.
A wise investor will not over pay for FH properties. Call me if you like to know more about value investment.
Kevin Chung
+65 96855070
DTZ Debenham Tie Leung (SEA) Pte Ltd
A wise investor will not over pay for FH properties. Call me if you like to know more about value investment.
Kevin Chung
+65 96855070
DTZ Debenham Tie Leung (SEA) Pte Ltd
Reply from Albert Lim - Nov 6, 2010
Hi Kevin, i'm not a wise investor, i'm only a small scale developer who own 5 FH land-title landed pty. My immediate instinct tell me that in the near future, only the top-notch 3 per cent S'porean prefer 2 own FH Land-Title landed pty b'cos of the status where they want 2 b as close rank as 2 Who's who like our Ministers, our top-notch developers, our top-notch bankers & etc. The main reasons being like u say from now on, government won't release any more FH or 999LH land, so those who own FH or 999LH will hv d final say as 2 determine whether it is S$2000psf or S$4000psf, as for d 99LH land, it is so common throughtout S'pore , the gap between FH, 999LH & 99LH will be widen tremendously, unless u r like me as a Landed pty developer u know where u stand but not so as a pty agent.
Hi Kevin, i'm not a wise investor, i'm only a small scale developer who own 5 FH land-title landed pty. My immediate instinct tell me that in the near future, only the top-notch 3 per cent S'porean prefer 2 own FH Land-Title landed pty b'cos of the status where they want 2 b as close rank as 2 Who's who like our Ministers, our top-notch developers, our top-notch bankers & etc. The main reasons being like u say from now on, government won't release any more FH or 999LH land, so those who own FH or 999LH will hv d final say as 2 determine whether it is S$2000psf or S$4000psf, as for d 99LH land, it is so common throughtout S'pore , the gap between FH, 999LH & 99LH will be widen tremendously, unless u r like me as a Landed pty developer u know where u stand but not so as a pty agent.
Reply from Albert Lim - May 16, 2011
SLA reject the application of the Arcadia condo for a lease top-up despite obtaining 100% support from the owners. SLA's decision has also turned the spotlight on other ageing 99LH condos like Lutheran Towers, One Tree mansions & Hollandswood Court. So Kevin, u r an expert, pls help all those owners who r desperate to top-up their lease like u say u just need to pay & definitely u will get your ageing condos to renew back to 99LH
SLA reject the application of the Arcadia condo for a lease top-up despite obtaining 100% support from the owners. SLA's decision has also turned the spotlight on other ageing 99LH condos like Lutheran Towers, One Tree mansions & Hollandswood Court. So Kevin, u r an expert, pls help all those owners who r desperate to top-up their lease like u say u just need to pay & definitely u will get your ageing condos to renew back to 99LH
Answer Posted on Jan 19, 2009
Hi Albert,
As you have rightly pointed out that the Government acquires FH land and sells it back leashold.
This means 2 things. Firstly, so what if one own a freehold property, it could be acquired by the government.
Secondly, there will be a dearth of freehold properties, this means the big big majority of property are on leasehold. It also means that the leasehold properties will be the major determinant of pricing. It decreases the prospect of freehold properties commanding a significant premium over leasehold properties.
To me, it is not very important at all whether the property is leasehold or freehold in terms of investment value. This is because in an uptrend, all properties will rise generally about the same margin.
Those that move more are the ones that are easily rented out or as everyone know, it is all about location.
My friend bought a 25 years old 99 leasehold apt unit at about S$670k in 2005 or 2004 and now the value is about S$2mio. It is the only leasehold development amongst all the freehold. Similar freehold units there are priced around there or just marginally higher.
regards,
Justin
amszeto@singnet.com.sg
9660-9900
As you have rightly pointed out that the Government acquires FH land and sells it back leashold.
This means 2 things. Firstly, so what if one own a freehold property, it could be acquired by the government.
Secondly, there will be a dearth of freehold properties, this means the big big majority of property are on leasehold. It also means that the leasehold properties will be the major determinant of pricing. It decreases the prospect of freehold properties commanding a significant premium over leasehold properties.
To me, it is not very important at all whether the property is leasehold or freehold in terms of investment value. This is because in an uptrend, all properties will rise generally about the same margin.
Those that move more are the ones that are easily rented out or as everyone know, it is all about location.
My friend bought a 25 years old 99 leasehold apt unit at about S$670k in 2005 or 2004 and now the value is about S$2mio. It is the only leasehold development amongst all the freehold. Similar freehold units there are priced around there or just marginally higher.
regards,
Justin
amszeto@singnet.com.sg
9660-9900
Reply from Albert Lim - Jan 20, 2009
Firstly, do u understand by defination what is call 'Land Title' & what is 'Strata title'.Now, we r talking abt Land title where Top-Notch Ministers, bankers & developers live. To hv En-Bloc for FH & 99LH cond/apt, if development above 10yrs, 80% consent will go en-bloc & development less than 10yrs, 90% consent will go en-bloc, unlike 'Land Title' if go En-Bloc, u require 100% approval by landlord whether u like it or not, accept it or not. Buying Landed pty is an art, u don't blindly buy those near main rd where govt will acquire for eg widening of rd or give way for new mrt line. U got 2 choose somewhere in d middle of development 2 play safe & avoid rd lines & etc. Let me ask u a simple question, if u hv d money, u 1 2 buy 99LH cond. @orchard for S$29M(5178sqft)- S$5600psf or become neighbour 2 Dr Chew(Nassim Rd) FH & u own that big plot of prime land, remember, U hv a choice
Firstly, do u understand by defination what is call 'Land Title' & what is 'Strata title'.Now, we r talking abt Land title where Top-Notch Ministers, bankers & developers live. To hv En-Bloc for FH & 99LH cond/apt, if development above 10yrs, 80% consent will go en-bloc & development less than 10yrs, 90% consent will go en-bloc, unlike 'Land Title' if go En-Bloc, u require 100% approval by landlord whether u like it or not, accept it or not. Buying Landed pty is an art, u don't blindly buy those near main rd where govt will acquire for eg widening of rd or give way for new mrt line. U got 2 choose somewhere in d middle of development 2 play safe & avoid rd lines & etc. Let me ask u a simple question, if u hv d money, u 1 2 buy 99LH cond. @orchard for S$29M(5178sqft)- S$5600psf or become neighbour 2 Dr Chew(Nassim Rd) FH & u own that big plot of prime land, remember, U hv a choice
Reply from Albert Lim - Jan 20, 2009
My simple solution 2 u is since we r not so smart, we just take que from our Top-Notch Ministers, Top-Notch Bankers & Top-Notch Developers, buy FH Land-title landed property, it can never b wrong. If u r a bit wealthier, like them, buy condominium as holiday camp. God bless u
My simple solution 2 u is since we r not so smart, we just take que from our Top-Notch Ministers, Top-Notch Bankers & Top-Notch Developers, buy FH Land-title landed property, it can never b wrong. If u r a bit wealthier, like them, buy condominium as holiday camp. God bless u
Reply from Albert Lim - May 16, 2011
SLA reject the application of the Arcadia condo for a lease top-up despite obtaining 100% support from the owners. SLA's decision has also turned the spotlight on other ageing 99LH condos like Lutheran Towers, One Tree Hill Mansions & Hollandswood Court. Hi Justin, u mention it is not very important to u that a pty is 99LH, so now yr clients at the above-mentioned ageing 99LH condos r desperate & need yr immediate help, pls help them to overturn the decision made by SLA as they r ready to make a premium payment for the lease top-up
SLA reject the application of the Arcadia condo for a lease top-up despite obtaining 100% support from the owners. SLA's decision has also turned the spotlight on other ageing 99LH condos like Lutheran Towers, One Tree Hill Mansions & Hollandswood Court. Hi Justin, u mention it is not very important to u that a pty is 99LH, so now yr clients at the above-mentioned ageing 99LH condos r desperate & need yr immediate help, pls help them to overturn the decision made by SLA as they r ready to make a premium payment for the lease top-up
Answer Posted on Oct 1, 2008
Hi Albert, I agree with you that through time Freehold properties will be reduce in number gradually. As you have said when govt. acquire freehold land, they put them on tender on leasehold term. The talk of the town on the 1st half of the year is escalating property prices which we have never seen before. Wonder where the property prices are heading. With the current financial crisis, the prices of property seems to be slightly softer.
Answer Posted on Nov 6, 2008
You're absolutely right to say authority will buy land @ Fh and sell back thru leasehold, being land scarity in Sp, we have to be prudent to act accordingly to Master plan & concept plan. The typically mentality is to owe FH, one is paying a premium over it, leasehold is not as bad, it can be L99, L946, L999 years. Need not worry too much, coz our Govt very smart in managing land sales and flexible in releasing for public tender. Gooday!
Keith Lim DTZ 8128-6663
Keith Lim DTZ 8128-6663
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S'pore's population has grown from 4.68Million to last yr 4.88million. In 2015, our projection is 6.5Million. Strata-Title HDB which made up 85% of it had upgrade themselves to become Strata-Title Condo Dwellers or Strata-title Pte Apt Dweller. Statistics shown HDB dweller form 80% of S'pore population now & Condo/Pte apt dwellers form 18% of S'pore population. Due 2 land scarce S'pore, now Land-Title landed pty dwellers has shrunk & form only 2% of d S'pore enlarge population. what's next? Which type of properties will b sought after, answer : very obvious, u know