Bukit Sembawang Estates’ latest landed project, Pollen Collection, is now open for exclusive preview with a limited release of 24 houses. (Photo: Bukit Sembawang Estates)
In land scarce Singapore, landed homes are a much-coveted asset and are perceived as assets associated with wealth as well as prestige.
With roughly 73,000 landed properties or about 23% of total private housing supply, prices for landed homes have remained resilient.
Statistics released by the Urban Redevelopment Authority (URA) showed that for the whole of 2022, prices of landed properties rose by 9.6% outperforming an 8.1% increase for non-landed properties.
The total stock of landed homes has stayed stable compared to non-landed homes, noted Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions PropertyGuru.
New launches were also reduced in 2022 as many Government Land Sales (GLS) tenders were stalled due to COVID-19 with the last landed housing parcel released for sale in 2017, he added.
“With fewer new projects available in the market, demand for landed properties remain robust amidst changing market cycles. It is thus no surprise that landed homes are often highly sought after by both Singaporean buyers and investors.”
According to PropertyGuru’s Property Market Q1 2023 Report, listing prices for landed homes went up for twelve straight quarters while overall property prices (across all property types) continued to climb, indicating resilient demand. In part, due to the current tight supply conditions.
Taking a step back, URA’s residential property price index (chart below) shows that landed homes have performed significantly better than non-landed homes over the past 11 years. It also shows that the price index for landed homes has seen a significant jump over the past 25 years.
Further fueling the demand for larger homes is the enduring need for larger personal space among Singaporeans to accommodate new working norms such as hybrid working arrangements.
Landed-living also caters to those who seek a spacious and exclusive lifestyle.
Bukit Sembawang Estates’ latest landed development, Pollen Collection, is well positioned to meet these needs with a premium selection of future-ready homes.
Located in Seletar Hills, District 28, the developer is offering a limited release of 24 houses, of which, 5 houses have already been sold.
Intermediate terrace houses at Pollen Collection have a land area of 1,615 sq ft, with a built-up floor area of around 4,100 sq ft. Corner terrace houses and semi-detached houses boast larger land plots and built-up areas; some even have swimming pools.
All houses are thoughtfully designed to allow for an abundance of natural light and breeze through layouts that maximise cross ventilation.
Other key features include a 6-meter high ceiling in the living and dining rooms, comfortable living spaces featuring five bedrooms with private bathrooms, private lift, dry and wet kitchens, private terraces and gardens, and a car porch that can accommodate up to 3 cars.
Amidst the growing popularity of electric vehicle adoption, each house will also have 2 isolators at its private car porch to facilitate future installation of electric vehicle chargers.
According to developer Bukit Sembawang Estates, houses at Pollen Collection are designed as a place for a family to grow and flourish through different phases of life as the houses are designed to give owners ample functional space and flexibility to reconfigure these spaces to accommodate ever-changing lifestyles.
Given that landed homes are a niche asset class, demand for these properties is expected to remain positive in the buoyant market, said Dr Tan Tee Khoon, Country Manager, PropertyGuru Singapore.
“Furthermore, due to a limited supply, landed homes and especially brand-new landed homes, will continue to drive demand as well as price appreciation.”
Moreover, new launches of landed properties are far and few in Singapore, he added.
Bukit Sembawang Estates has been developing landed homes in the Seletar Hills Estate and Sembawang since the 1950s. To date, Bukit Sembawang has developed more than 4,600 houses in Seletar Hills, Sembawang and Luxus Hills.
Pollen Collection is solely marketed by Bukit Sembawang Estates’ in-house sales team to offer an exclusive viewing and engagement experience to customers with the opportunity for customers to customize their homes*. Prices for an intermediate terrace house starts from $3,700,000* (*terms & conditions apply).
Viewing can be arranged by appointment only, visit Pollen Collection to schedule an appointment or contact Bukit Sembawang Estates’ sales team at 8800 0333. For more information, Click Here.
This article is the first of a series of four articles PropertyGuru will be presenting on the Pollen Collection. In the next article, we will look at why purchasing a ready built landed residence from a renowned developer may be a less costly option than rebuilding from scratch.