Guide to landed property in Singapore

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Want to learn more? Read on for 3 things that you need to take note of if you’re planning on purchasing landed property in Singapore!

#1: You need to be a Singapore Citizen or a PR to buy a landed home

#2: You can’t build as many levels as you please

#3: You’ll probably need to hire a professional inspector before sealing the deal on your landed home

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What are GCBs?
GCBs are mainly owned by ultra-high net worth individuals in Singapore – owning a GCB unit symbolises one’s status as a very wealthy individual. There is only a supply of about 2,500 units, in approximately 39 specially allocated (and protected) residential areas in Singapore. These areas include the prime residential districts 10 and 11, as well as prominent bungalow estates of districts 20, 21 and 23. Size-wise, in order to be classified as a GCB, the landed property must have a land area of at least 15,070 sq ft and designated in the aforesaid zoned residential areas. However, in order to maintain the exclusivity and nature of the prime neighbourhoods, it cannot be built more than 2-storey high (which includes an attic and a basement as well).

What Is The True Cost Of Buying A Landed Home In Singapore?

Many self-styled Finance or Property gurus have touted some universal motherhood statements to people who are awed by their “brilliance” or fanfare.
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Home Buying Guide – Landed Property

Landed property refers to residential property where the owner owns the land as opposed to a slice of a multi-unit condominium or apartment occupying the same plot of land.
Non-Singaporeans and Permanent Residents need approval from the Singapore Land Authority to buy landed property.
Landed property also falls under the category of private residential property, thus Singaporeans can’t own both a landed property and a HDB.
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Tips For Buying A Landed Property In Singapore

Purchasing a resale landed property is never an easy decision. In fact, this move is likely a more difficult one compared to purchasing a newly developed condominium unit – which in most cases would be presented to you in tip-top condition.
The physical condition of landed properties differs from home to home. Some may have experienced lots of mistreatment from owners, tenants or landlords, resulting in conditions that are not too ideal. If you’re fortunate enough, you may encounter the more decent properties before making your decision.
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