About 2,900 new landed homes were launched in the first nine months of 2010, which accounted for 2.9 percent of all the 99,200 new private homes launched during that period, down from 8.2 percent in 2000.
Out of the 52,700 new private homes launched in 2000, 4,300 were landed.
“The drop in landed home launches could be due to less landed land supply from the government in recent years,” said Steven Ming, Executive Director for Investment and Prestige Homes at Savills.
Only three sites intended for landed residential developments have been put on the reserve and confirmed lists since the start of 2010, he said.
Data from Savills is another testament to the declining proportion of landed homes in Singapore.
Credo Real Estate recently said that landed homes comprised only 27.2 percent of all private housing units in Q3 2010, down 8.1 percentage point from 35.3 percent in Q1 2000.
In absolute terms, the number of landed homes has risen over the same period, though at a slow rate.
While landed home stock climbed by more than 4,000 units in the past 10 years, non-landed home supply rose by over 60,000 units.
Prices of landed homes jumped 24 percent in the first nine months of last year, an increase that was attributed to the limited supply of landed homes.
“In the growth of any city, you have more and more intensive land use. The government is also encouraging higher land productivity. This trend will only continue,” said Ong Choon Fah, Executive Director (Consulting) at DTZ.
When home buyers look at the high psf prices for new non-landed apartments today, landed homes appear to offer better value, added Mrs. Ong.