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I have someone recently bought a FH Land-Title Landed property of land size 1705sqft. It is a 2-Sty terrace house with an attic & a basement. The total built-up area of this so called 4-Sty terrace is 3559sqft in D13. The price tag is S$2,238.000 which translated into S$1313psf but the agent told him it is S$629psf. My understanding is land title landed property is based on land area which is S$1313psf unless it is strata-title cluster house then it will be S$629psf. Anyway, quite a few had transacted at S$1313psf which mean it is boasting D13 area. Secondly, someone bought a terrace house at D19. Same, 2-Sty with attic & basement. Land area 1614sqft & built-up area 3238sqft, transacted at S2,200,000. It translate into S$1363psf instead of agent told her it is S$679psf. What is your take regarding the above issue, D13 senette estate at city fringe & vibriant D19 at serangoon garden?

Posted by Albert Lim on Mar 12, 2008 in General Questions | 83265 Views

Comment added by Albert Lim - Jun 8, 2009
We had seen a lot of unhappiness occur at the neptune court or Laguna park. It is not true 4 minority owner 2 say that it's ok that they stay put even en-bloc. A lot of ladman/ladwoman doesn't understand the term "Land-Title" & the term "Strata-Title". So long as yr property fall under "Strata-Title", 4 development less than 10yrs, 90% consent fr owners, d property will go en-bloc whether u like it or not, 80% approval fr owners 4 development more than 10yrs, u still hv 2 accept it as u hv no choice. Unlike "Land-Title" 2 go en-bloc, u require full 100% consent, even if en-bloc occur, 18 out of 20 terrace hse, u can c 2 hse stand out uniquely among d surrounding b'cos this is d power of "Land-Title" which we can truely call home.

Latest Answers by Real Estate Professionals (9 Answers)

Kelvin Koh
APHO.4542379.V60B
CLOGO.80.V60
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Answer Posted on Nov 14, 2010
Dear Albert,

You are totally correct, psf for Landed property are calculated based on Land while Strata Titled properties are based on Built-up. Having said that, sometimes it's misleading to just base on land psf to gaunge the value of the Landed properties in a particular area or district as buyers do consider the Built-up of the property when committing to the selling price. Eg, a 2 storey built-up (approx 2000 sqft) may fetch a lower price then a 3 storey (approx 3000 sqft) built-up, if all other conditions being equal.

Yours Sincerely,
Kelvin Koh
Senior Marketing Manager
ERA Realty Singapore Pte Ltd

Mobile: 65-97972798

www.kohkelvin.irealtor.sg
www.singpropertyagent.com
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Veronica Lim
APHO.46406840.V60B
CLOGO.25787611.V60
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Answer Posted on Aug 15, 2014


Hi Albert,

In the past , landed properties are calculated base on the land size, however these days, it is based on the built-up thats why you see the differences is so great.

If you r require further details, feeel fre to call me for free consultation!

Yours sincerely
Veronica Lim
DTZ Property Network Pte Ltd
94550898
www.veronicahomes.com

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Ken Toh
APHO.16979583.V60B
CLOGO.48936109.V60
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Answer Posted on Oct 3, 2012
Dear Alberte,

The agent is just trying to manage the expectations of your friend who bought the terrace. But you are right in measuring the psf based on the land size rather than the built up and I'm sure your friend had bought it with the calculations based on land size psf too.

Regards,
Ken

http://www.sgrealist.com
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Andy Ang
APHO.12625972.V60B
CLOGO.5298441.V60
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Answer Posted on Feb 9, 2012
Some buyers tend to just use the selling price divided by the land size. But as a real estate salesperson, he/her needs to explain that this calculation is not accurate.
Supposely, the seller had spent $800k on a tear down & rebuild cost, this has to be factor into the selling price as well. If you put yourself into the seller's position, how would you feel if some buyer like your house but made an offer base on land size? It means whatever you had spent on your house, comes to zero return.
If you really wish to purchase just based on land size, i suggest to look out for those "tear down" condition house.
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Keith Lim
APHO.7563.V60B
CLOGO.21984353.V60
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Answer Posted on Nov 6, 2008
Bill Tey was right in his answer, one has to look in two folds, as property developer/agents and savvy investor or specualtor's point of view. The ccalcualtion of psf is onlya figure to determines price index ratio as comparision and indicative for bank assessment for loan quantum, many property analyst used it as bench-marking for reports etc. Relatively speaking agents would like to use the lower psf based on land area whichever is higher to determines lower psf values.

It's not only psf plays a part, many other factors, key elements contributed to the sales process. Service-orientated sales personnel.
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Reply from Albert Lim - Nov 18, 2008
Hi Keith, if what u say is true, i quote as what u say " It's not only psf plays a part, many other factors, key elements contributed to the sales process. Service-orientated sales personnel like yrself" is right. Then, i would like to appoint u to get for me a GCB. A GCB by defination is a detached not more than 1400sqm or 15069sqft & only restricted to D9, D10 or D11. At hand, i only hv S$2.5M in my bank account. Since what u say is right, just get me a bare land of size 15069sqft at either D9,D10 or D11 at S$2.5M . I pay CASH upfront, the rest u settle for me. Hope 2 hear fr u asap.
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Reply from Albert Lim - Dec 7, 2008
"Land-Title" base on land area is govern by authority SLA or URA. If is it base on built-up, it will b call "Built-Up" prop. If a landed prop. of land size 1705sqft can b built 2.5Sty + basement hv 3559sqft, neighbouring with land size 3400sqft can build 2.5Sty + basement hv 10000sqft, that explain d difference.
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Answer Posted on Aug 26, 2008
Hi Albert Lim, Landed Sale Price calculation = Price of Land + Price of Construction (less wear & tear). Rgds Ravin 9798-5917 fr KNIGHT FRANK
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Reply from Albert Lim - Dec 14, 2008
Hi Ravin, what u say may not b right. A piece of land of land size 20000sqft 30-40yrs ago cost S$80-90K in GCB zone @nassim rd but now land cost alone cost min S$16million(min S$800/sqft). So land sales escalate a lot as yr go by.
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Howard Teo
APHO.2746.V60B
ALOGO.6340.V60
Contact Agentorangearrow
Answer Posted on Mar 15, 2008
If filing a complaint is necessary & if the agent is a IEA(Institute of Estate Agent) listed agent, maybe you may want to pursue the matter with the IEA?

Their contact details is
480 Toa Payoh Lorong 6
HDB Hub East Wing #08-02
Singapore 310480

Telephone: 6323 1770
Fax: 6323 1779
Website: www.iea.org.sg
Email: secretariat@iea.org.sg
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Alan Low
APHO.279092.V60B
CLOGO.6489401.V60
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Answer Posted on Dec 20, 2008
Hi Albert,

Agrees with Howard Teo, file a complaint if necessary to IEA.
Clear cut case, No further illustration is needed.

Best Regards,
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Reply from Albert Lim - Dec 21, 2008
Tq Allan Low for being a professional agent who really have the in-depth knowledge of what "Land-Title" mean as all these guidelines are set by SLA or URA.
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Bill Tey
APHO.3929076.V60B
CLOGO.35921140.V60
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Answer Posted on Mar 24, 2008
I don't think there is any hard and fast rule about price per square foot for landed properties. this is only useful as a comparative figure between 2 different property.

In all landed property, there is a price element associated with the land and another element associated with the house. neither the PSF based on land nor the built-up space give a true picture of the value of the property. using PSF for the built-up in situation where the built-up area is significantly higher than the land area may be useful in comparing against similar living space in a condominium apartment.

I think anyone who is buying a property should be able to do a quick calculation of the PSF based on either land or built-up space and judge whether the price is realistic.
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Reply from Albert Lim - Nov 23, 2008
Hi Bill, when u r a property agent, u must know a lot compare to a ladman. "Landed" as d name imply 2 land area, "Non-landed" imply d prop. got no land & can only measure by floor area. For smaller landed prop. where owner got 4 or 5 cars, they always quarrel over parking issue & can't do sub-division. For bigger land area, they can do sub-division, pls bear that in mind
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Reply from Albert Lim - Dec 7, 2008
"Land-Title" base on land area is govern by authority SLA or URA. If is it base on built-up, it will b call "Built-Up" prop. If a landed prop. of land size 1705sqft can b built 2.5Sty + basement hv 3559sqft, neighbouring with land size 3400sqft can build 2.5Sty + basement hv 10000sqft, that explain d difference.
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