Landed Houses in Singapore Review 2022
Landed Houses in Singapore Review 2022
Landed houses are regarded as the most expensive housing in Singapore
In year 2021, landed prices appreciated by 13% compared to year 2020.
So what happened that caused such a price surge?
When Covid-19 happened, Singapore economy slowed down tremendously between 2019/2020.
However, towards the 2nd half of year 2020, the outlook looks more promising with the rollout of the vaccination program, and thus the property price started to creep up in both the non-landed and landed properties sector. But Landed Property annual growth rate is higher than the condo sector standing at 13% vs condo at 9.8%.
We did a research and observe 2 things.
Firstly, with working from home becoming a norm, people are demanding for bigger space to cater to their needs. The growing wealth and income of the upper-middle class led to more such demand.
Secondly, due to the limited supply, buyers have to turn to the resale secondary market to buy a piece of land, with limited supply and high demand this resulted in upward pressure on the landed prices. Besides that, the rental demand for landed houses has been strong which has caused the rental prices for landed to increase too.
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