Friday, April 19, 2013

Cheap Singapore freehold landed properties???

Reported in the news on some cheap freehold LANDED properties in Singapore


Question is, are these really real deals at market rate?

Let's take a look at those below $1000 PSF.

Westerhout road is right in the middle of Red light District Geylang, between Lor 16 and 18. Thus it is cheap for a reason. Good for rental perhaps, but probably not ideal for self-stay.

The article itself mentioned that the King's Road deal is probably a related-person transaction and does not reflect market value.

Primrose Avenue (2nd last column is the PSF). Again, doesn't really reflect market value:
Terrace House12,300,0001,993Land1,154Jul-12
Terrace House13,350,0002,108Land1,589May-12
Terrace House11,080,0002,112Land511Dec-12
Terrace House13,550,0002,651Land1,339Aug-11

 Ceylon Road also doesn't reflect market value:
Terrace House12,750,0001,779Land1,546Nov-12
Semi-Detached House13,928,0003,339Land1,176Mar-12
Semi-Detached House13,100,0003,095Land1,002Dec-11
Terrace House11,200,0001,757Land683Dec-12
Detached House15,200,0004,635Land1,122Feb-13
Terrace House12,528,8881,801Land1,404Jul-12
Terrace House11,200,0001,781Land674Oct-12
Terrace House14,038,0002,350Land1,718Mar-12
Terrace House12,850,0001,763Land1,616Dec-11

The list published are most likely very run down houses, or related-person transactions.



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