Property Views

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Re: Property Views

Postby jetsetter » Mon Mar 20, 2017 11:53 pm

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.

***

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.


***

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

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Re: Property Views

Postby jetsetter » Mon Mar 20, 2017 11:55 pm

ngl2010 wrote:
doodbug wrote: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.

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?

Sometimes could be due to plot ratio...need to check latest masterplan for changes. Some strata lands hv restrictions. Do ur own Csi

:siam:

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Re: Property Views

Postby doodbug » Tue Mar 21, 2017 7:00 am

I thought foreigners can buy feehold strata landed and that the restrictions only aph to regular freehold landed? Do correct me if I am wrong

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Re: Property Views

Postby jetsetter » Tue Mar 21, 2017 7:40 am

Yes doodbug that's what I was saying.

Was responding to mum_sugoku's query earlier

mum_sugoku wrote:As for why condo is more ex than cluster landed, could it be due to the restriction imposed on foreigner buying landed property?

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Re: Property Views

Postby doodbug » Tue Mar 21, 2017 7:51 am

Thanks Jetsetter - yes you are right :)

I went to view 3 or 4 cluster house developments as we were initially very very attracted to the low psf. However, a lot of the square footage went into (1) staircases; (2) carpark lots (3) balconies and roof terraces. I did not get the feeling of spaciousness because most strata landed units (particularly terraces) of over 3000 sq ft in built up were sitting on a land size of about 800 to 1000 sq ft.

There are some cluster houses with internal lifts - please do budget for the lift maintenance as there are now strict regulations on home lifts and they require annual checks and licence renewals. This is an additional personal cost on top of the monthly service charge for common facilities collected by the MCST.

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Re: Property Views

Postby lee_yl » Tue Mar 21, 2017 8:39 am

Thanks doodbug, mum_sugoku & JS for the insights and sharing!

The agent told us foreigners are not eligible to buy cluster housing (unless those nested within a condo project) and they need to apply to LDU for approval. I suppose this is one main reason why the prices for such housing relatively stagnant.

As a buyer, I think it is value for money as the unit we saw, the seller is desperate to let go that FH Semi-D cluster and price-wise, it is about that of a 99yr condo which we also shortlisted. But when it comes to our turn to sell, we may also be stuck in the same situation, that is zero or even negative capital appreciation.
Last edited by lee_yl on Tue Mar 21, 2017 8:54 am, edited 1 time in total.

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Re: Property Views

Postby doodbug » Tue Mar 21, 2017 8:45 am

My impression is that almost all cluster houses with facilities are 'under a condo development' under the Planning Act, hence foreigners can buy. Let me research a bit.

Foreigners can also buy leasehold landed, I think.

Sometimes, we need to consider whether the property is primarily for staying (i.e. suited for family's needs) or for capital appreciation, or for rental. Hard to find a property that fulfills all 3 to the same extent. :) Decisions, Decisions.
Last edited by doodbug on Tue Mar 21, 2017 8:47 am, edited 1 time in total.

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Re: Property Views

Postby mum_sugoku » Tue Mar 21, 2017 8:45 am

doodbug wrote:I thought foreigners can buy feehold strata landed and that the restrictions only aph to regular freehold landed? Do correct me if I am wrong


Er.. not all. As correctly pointed out by jetsetter, only certain type of strata landed doesn't require prior approval - mainly those cluster houses built within a mixed condo development (ie mixture of high rise + some landed).

Normally, iirc, for development which consists purely of cluster houses, approval is required.

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Re: Property Views

Postby mum_sugoku » Tue Mar 21, 2017 8:51 am

doodbug wrote:My impression is that almost all cluster houses with facilities are 'under a condo development' under the Planning Act, hence foreigners can buy. Let me research a bit.

Foreigners can also buy leasehold landed, I think.

Sometimes, we need to consider whether the property is primarily for staying (i.e. suited for family's needs) or for capital appreciation, or for rental. Hard to find a property that fulfills all 3 to the same extent. :) Decisions, Decisions.


Er, not all leasehold landed. Only those in Sentosa island (if I'm not wrong). Else also needs approval :wink:

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Re: Property Views

Postby doodbug » Tue Mar 21, 2017 8:57 am

Extracted from this link
https://sharonanngoh.com/buy-sell/foreign-ownership/#F2

2. What types of property can a foreign person purchase without approval.

Condominium unit;
Flat unit;
Strata landed house in an approved condominium development;
A leasehold estate in a landed residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal;
Shophouse (for commercial use);
Industrial and commercial properties;
Hotel (registered under the provisions of the Hotels Act); and
A foreign person is not allowed to buy all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law.
The following properties are not under the purview of the Residential Property Act. Intended purchasers of these properties are advised to enquire directly with the Housing and Development Board (HDB) regarding their eligibility:
Executive condominium unit, HDB flat and HDB shophouse.
An HDB flat purchased directly from HDB.
A resale HDB flat where HDB has consented to the sale.
An HDB shophouse.
An Executive Condominium purchased under the Executive Condominium Housing Scheme.

[Back to Top]
3. What types of property must a foreign person seek approval to purchase.

The followings are classed as restricted residential property:
Vacant residential land;
Terrace house;
Semi-detached house;
Bungalow/detached house;
Strata landed house which is not within an approved condominium development under the Planning Act (eg. townhouse or cluster house);
Shophouse (for non-commercial use);
Association premises;
Place of worship; and
Worker’s dormitory/service apartments/boarding house (not registered under the provisions of the Hotels Act).
**Approval will have to be obtained from Land Dealing Approval Unit for the purchase of a restricted residential property. You can apply for a written approval from the Controller of Residential Property Land Dealings. The application forms can be obtained from Singapore Land Authority website.

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