Property Views
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in absolute value or in terms of psf? Cluster Housing is usually strata-titled, i.e. you don’t own the land but the unit.
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doodbug:
in absolute value or in terms of psf? Cluster Housing is usually strata-titled, i.e. you don't own the land but the unit.
Both, in terms of psf as well as absolute value.
But condo also strata titled. In that vicinity, semi-d is usually $7mil-$8mil, totally out of reach for us. This particular unit is going for less than half of that.
But monthly maintenance fee $1.1k is killing. And if seller is selling to us at its launch price we are curious why the price of cluster housing price is stagnant. -
Cluster house layouts are usually unideal and there is general lack of privacy as one is usually facing a neighbour directly. Cluster house square footage will include parking lots. A 2000 sq ft condo laid out over a single level feels more spacious than most 3500 sq ft cluster house units. The stairs to navigate is another disadvantage as is the high service charge. Hence the market of buyers for cluster houses is usually small. Old leasehold condos have higher enbloc potential as well.
These are just my guesses. I went to see a few freehold cluster houses but in the end we really found them unsuitable though psf prices are attractive. -
Cluster house layouts are usually unideal and there is general lack of privacy as one is usually facing a neighbour directly. Cluster house square footage will include parking lots. A 2000 sq ft condo laid out over a single level feels more spacious than most 3500 sq ft cluster house units. The stairs to navigate is another disadvantage as is the high service charge. Hence the market of buyers for cluster houses is usually small. Old leasehold condos have higher enbloc potential as well.
These are just my guesses. I went to see a few freehold cluster houses but in the end we really found them unsuitable though psf prices are attractive. -
doodbug:
Why old leasehold condos have higher enbloc potential? Is it because condos usually have bigger areas than cluster houses so it is easier to build something on it?Cluster house layouts are usually unideal and there is general lack of privacy as one is usually facing a neighbour directly. Cluster house square footage will include parking lots. A 2000 sq ft condo laid out over a single level feels more spacious than most 3500 sq ft cluster house units. The stairs to navigate is another disadvantage as is the high service charge. Hence the market of buyers for cluster houses is usually small. Old leasehold condos have higher enbloc potential as well.
These are just my guesses. I went to see a few freehold cluster houses but in the end we really found them unsuitable though psf prices are attractive. -
Cluster houses tend to be newish so I guess they are not likely to enbloc soon?
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doodbug:
Cluster houses tend to be newish so I guess they are not likely to enbloc soon?
I see. Thank you doodbug. -
lee_yl:
No property expert but I understand that the psf value of (non-strata) landed is based on its land area and not the build-in area. So for a say $7m semi-d with 3000sq ft land and 4000 build-in, psf value will be 7m/3000 or $2300(psf). Whereas for strata landed, like condo, psf value is based on its build-in area, and not the area of the land which the house sits on. So for strata landed of similar build-in area, even if it's priced similarly at $7m, its psf will be 7m/4000 or $1750 (psf), ie lower.doodbug:
in absolute value or in terms of psf? Cluster Housing is usually strata-titled, i.e. you don't own the land but the unit.
Both, in terms of psf as well as absolute value.
But condo also strata titled. In that vicinity, semi-d is usually $7mil-$8mil, totally out of reach for us. This particular unit is going for less than half of that.
But monthly maintenance fee $1.1k is killing. And if seller is selling to us at its launch price we are curious why the price of cluster housing price is stagnant.
As for why condo is more ex than cluster landed, could it be due to the restriction imposed on foreigner buying landed property? -
Not true that foreigners cannot buy cluster houses.
Pls check with agent/developer if that strata landed house is within an approved condo development under the Planning Act (townhouse / cluster house).
If it is not, a foreign person must seek approval to purchase.
However, in an approved condo development, a foreigner may purchase without approval a strata landed house.
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The more houses in the devt, the lower the mgmt fees will be. In case u hv forgotten, u r living in a very large condo if u hv purchased a strata-titled bungalow. Naturally, u pay more for repainting or lift repairs.
Rental yield higher if estate is near intl schools as strata landed houses are favoured by angmo or expats who are senior execs in mncs. They like larger living spaces, basic facilities and gated security.
Like Condo enbloc, u need 90% collective approval if estate is <10yrs; 80% if >10yrs (this 80% must also form no less than 80% of the total strata area). Wait is longer if estate is very new.
Cannot anyhow do A&A as u dun solely own the land title.
Check with your agents if price appreciation of such FH strata-titled cluster houses is slower/lower than LH landed ppties.
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May I add that CONTACT SINGAPORE WILL BE CLOSING DOWN its global job portal / functions wef 1 April 2017.
Talented non-SC demand for rented houses might be affected to a little extent.
http://www.channelnewsasia.com/news/business/edb-mom-to-end-contact-singapore-alliance-in-april/3540840.html -
ngl2010:
Sometimes could be due to plot ratio...need to check latest masterplan for changes. Some strata lands hv restrictions. Do ur own Csi
Why old leasehold condos have higher enbloc potential? Is it because condos usually have bigger areas than cluster houses so it is easier to build something on it?doodbug:
Cluster house layouts are usually unideal and there is general lack of privacy as one is usually facing a neighbour directly. Cluster house square footage will include parking lots. A 2000 sq ft condo laid out over a single level feels more spacious than most 3500 sq ft cluster house units. The stairs to navigate is another disadvantage as is the high service charge. Hence the market of buyers for cluster houses is usually small. Old leasehold condos have higher enbloc potential as well.
These are just my guesses. I went to see a few freehold cluster houses but in the end we really found them unsuitable though psf prices are attractive.
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