| Being rich is not enough to secure the type of house confusingly known as a bungalow in Singapore.can own both a house and the land it is attached to – what is known as a landed property – outside of Sentosa Island and only a few are wealthy enough to consider buying a “good class bungalow”. This is code for the mansions that have the biggest luxury of all on the 700-square-kilometre island that is home to 5.5 million people: space.
Landed homes are a rarity in Singapore where 80 per cent of the population lives in subsided high rise and most others in condominiums that foreigners are also allowed to buy. Only 5 per cent of the city state’s housing stock are landed homes.“Good class bungalows or GCBs are the top-end landed homes in Singapore because of their very limited supply, which makes them very exclusive assets,” said Teck Hui Ong, JLL’s senior director of research and consultancy.
Real estate watchers expect Singapore’s “superprime” home market will this year gain ground on Hong Kong, which has long claimed the most-expensive-in-Asia title. Before the pandemic,“Singapore prices tend to be sticky; there is much greater volatility in Hong Kong,” said Alan Cheong, Savills’ executive director of research and consultancy in Singapore.The crypto crash has affected the number of transactions at the top end of Singapore’s market.
Source: Real Estate Daily Report (realestatedailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What type of property can you buy for the median house price?House prices may be falling as interest rates rise, but the median across Australia’s capital cities has so far only edged back to $1,022,194 | heagney_melissa heagney_melissa Only...
Source: smh - 🏆 6. / 80 Read more »
What type of property can you buy for the median house price?From a one-bedroom workers’ cottage to a family home, it all depends on location, location, location. heagney_melissa heagney_melissa The other issue often overlooked is level of council rates which are a factor in cost of living. The ALP has had a cap on rate rises that may not be renewed under the Liberals. Rates will rip under Liberals.
Source: theage - 🏆 8. / 77 Read more »
What type of property can you buy for the median house price?From a one-bedroom workers’ cottage to a family home, it all depends on location, location, location.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Floodwaters cut major road in half, leaving 6m gapGooramadda Road in north-east Victoria has been closed for weeks after a large section washed away, leaving businesses without the traffic they rely on. Does that actually count as a sinkhole or just a washed away road? I'm voting for washed away road. Not a sinkhole! Washout or washaway! Check your editorial standards you HOG This happened a week ago
Source: abcnews - 🏆 5. / 83 Read more »
Police issue warning after fifth road death in New England region in less than two weeksOfficers are investigating whether fatigue was a factor in the crash, which is the second in the region this week and the fifth in just under two weeks. big if true... My recommendation to exit AFP Commissioner Reece Kershaw from the scapegoating conspiracy is to do a location check of him at Bondi once per day. Vaxxidents?
Source: abcnews - 🏆 5. / 83 Read more »
Developer retreats from plan to hem in a heritage houseThe controversial plan, which rankled residents but has now been scaled back, would have seen two towers built on a mostly low-rise Brisbane terrace.
Source: brisbanetimes - 🏆 13. / 67 Read more »