FoundOnEdgeProp: Landed homes below $2.5 million

By Elizabeth Choong

/ EdgeProp Singapore |

June 5, 2023 10:30 AM SGT

A corner terraced house in Villa Verde (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Join our Telegram channel and follow our Facebook for the latest update.

Land-scarce Singapore has a limited number of landed residential properties. As such, landed homes tend to command higher prices than condos, which makes owning a landed residential property a status symbol that many aspire to have.

We combed through the listings for landed homes on EdgeProp and found several properties with asking prices below $2.5 million.

Loyang Villas in the east region

The east region is a popular housing area due to its proximity to East Coast Park and the sea. The area is expected to experience even more demand from homebuyers when the Thomson-East Coast Line and Cross Island Line are fully completed in 2025 and 2032, respectively.

At the time of writing, there were three listings for terraced homes along Loyang Rise with asking prices ranging from $2.25 million to $2.45 million. All three properties are part of Loyang Villas in District 17, which comprises 422 landed homes with 99-year tenures that started in 1993.

Loyang Villas is located within a 1km radius of two primary schools, namely Pasir Ris Primary School and White Sands Primary School. The development is also located within a 1km radius of two MRT stations on the Cross Island Line (Loyang and Pasir Ris East). However, both MRT stations are still under construction and are expected to be completed in 2030.

The property with the lowest asking price of $2.25 million has five bedrooms and a built-up area of 2,700 sq ft, and a land size of 1,615 sq ft. On the other hand, the property with the highest asking price of $2.45 million has a larger built-up area of 3,000 sq ft and a larger land area of 1,632 sq ft.

The current average price for Loyang Villas is $1,291 psf, which is marginally lower than the current average resale price of $1,308 psf for 99-year leasehold landed homes in District 17. However, it is higher than the current average resale price of $1,220 psf for 99-year leasehold condos in the same district.

However, Loyang Villas has experienced much stronger price growth (growth of 69% since 2013) compared to leasehold landed homes (74%) and condos (52%) in the same district.

More choices in the north region

Homebuyers who are seeking more options should consider the north region, where there are listings of landed homes from two projects with asking prices under $2.5 million.

At the time of writing, there were three such listings from The Shaughnessy along Miltonia Close in District 27. The development consists of 254 terraced and detached homes with 99-year leases that started in 2001.

The Shaughnessy is located within a 1km radius of two primary schools, namely Northland Primary School and Naval Base Primary School and an international school (GEMS World Academy). Other nearby amenities include Orchid Country Club, SAFRA Yishun Country Club, Yishun Park Hawker Centre and Yishun Park. However, the nearest MRT station, Khatib MRT Station, is almost 1.6km away.

The asking prices for The Shaughnessy range from $2.38 million to $2.45 million. The terraced house with the lowest asking price of $2.38 million has five bedrooms and a built-up area of 3,283 sq ft. On the other hand, the terraced house with the highest asking price of $2.45 million has only four bedrooms but has a larger built-up area of 3,305 sq ft.

The average price for The Shaughnessy has grown by 20% since 2013, reaching the current average price of $662 psf. In contrast, the average resale price for 99-year leasehold landed homes in District 27 has declined by 11% to the current average price of $788 psf. On the other hand, the average resale price for 99-year leasehold condos in the same district has increased by 50% to the current average price of $1,199 psf.

Villa Verde is another landed project located in the north region, featuring listings with asking prices under $2.5 million. The project is located along Verde Grove in District 23 and consists of 515 landed homes with 99-year leases that started in 1997.

Nearby amenities include Yew Tee Primary School, Teck Whye Primary School, and Kranji Primary School, as well as Choa Chu Kang Stadium, Swimming Complex, and Sports Hall. Unfortunately, the nearest MRT station (Yew Tee MRT Station) is not within walking distance but residents are well-served by the nearby Kranji Expressway.

At the time of writing, there are four listings for Villa Verde with asking prices ranging from $2.38 million to $2.488 million. The property with the lowest asking price of $2.38 million has a built-up area of 3,000 sq ft and a land size of 1,614 sq ft. On the other hand, the property with the highest asking price of $2.488 million has a slightly smaller built-up area of 2,900 sq ft but has a larger land size of 1,791 sq ft. Both properties have five bedrooms and five bathrooms.

Living area of the unit in Villa Verde with an asking price of $2.38 million (Photo: EdgeProp Singapore)

The average price for landed homes in District 23 has declined by 14% since 2013, but prices for Villa Verde have grown by 26% over the same time period. Furthermore, the current average price for Villa Verde is higher at $1,267 psf compared to leasehold landed homes in the same district ($890 psf). Although, average price for leasehold condos in District 23 has experienced the highest price growth of 44%, but their current average price of $1,265 psf is still slightly lower than that of Villa Verde.

Tags:

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter