Forget the Chinese zodiac. This Lunar New Year, we're crowning 12 landed property hotspots, adding two districts to the ten which have already proven themselves in 2023. Our wildcards are District 26 and District 13, poised to become the next big things in 2024. Here’s why:
District 26 (Mandai, Upper Thomson)
Remember Lentor? Two years ago, nobody would've given it the time of day. Now, just bring up District 26 and Lentor pops into everyone's head. Why the sudden shift?
1. New launches help benchmark the prices of landed properties.
The landed properties in Lentor have always been spacious and, until recently, quiet and reasonably priced. It's also home to the expansive Teacher's estate we frequently mention. There used to be a gap between the prices of resale condominiums and landed properties in Lentor, but not anymore.
Thanks to the Government Land Sales (GLS) and developers who successfully bid for land here, swanky new launches like Lentor Modern and Lentor Hill in District 26 have arrived, setting a new price benchmark and closing the gap. With the new launches commanding higher prices, and more GLS activity set to follow, the landed properties in Lentor will naturally appreciate.
2. Behold, another compelling transformation story.
Picture this: MRT stations dotting the landscape, a sprawling mall rivalling Vivocity (because let's face it, retail therapy is practically our national pastime), and all the modern conveniences of a bustling township. And if a weekend at the shopping mall ranks high among Singaporeans' favourite pastimes, then exploring car showrooms and attending new condominium launches surely come in a close second.
As Lentor's metamorphosis gains traction among locals, it bids farewell to its once-"ulu" reputation. Moreover, District 26 enjoys a ripple effect from the perennially popular District 20, renowned for its top-notch schools that set parents' hearts aflutter. Families eyeing District 20's charm naturally turn their gaze towards its sister district, District 26, putting it on the top of their lists.
3. Lentor has a high concentration of landed properties.
Did you know that District 26 has the 11th largest inventory of landed properties in Singapore? In total, there are 2,762 landed properties in Lentor. This shows that there is enough supply to go around, even though transaction volumes have been unremarkable all these years. 2023 saw an increase in listings within District 26, and there’s more where that came from. This year, we expect to see more owners putting their landed properties into the fray.
(And if you’re worried that the supply of landed homes will negate the upward trajectory of their prices, fret not. Unlike new launches, which are popping up left, right, and centre, the supply for landed homes is and always will be limited.)
District 13 (Macpherson, Potong Pasir)
Macpherson, Potong Pasir – these names might not exactly scream "landed property haven” as they are surrounded by industrial buildings. But here’s why District 13 is a diamond in the rough.
1. The location has been "rebranded" by new developments.
A landed property in District 13 appears superior to its counterparts in most heartlands for a few reasons. While remaining close to schools like Cedar Primary, Pei Qun, and Maris Stella, District 13 is also located along the city’s fringe, granting residents access to the major expressways in Singapore. Sure, the industrial neighbours may be here to stay. But with the new Bidadari estate and The Woodleigh Mall, perceptions are quickly shifting. 2. Entry-level landed properties are up for grabs.
In this day and age, if you’re in the market for a landed property under S$3 million, you would likely find yourself choosing between a small freehold property or a large leasehold property. District 13 happens to be all about the petite powerhouses, with landed properties under 1,000 sqft trading for just over S$2 million here.
Although the price of land isn’t low in District 13, this pool of small landed properties are the low-hanging fruits for Singaporeans breaking into the segment in 2024. A condominium in the area will not compare in terms of build-up space, let alone the potential for capital appreciation and value preservation. With a landed property, you get to live in your dream home and rest easy knowing that the land underneath is your legacy.
Certainly, let's not forget the charming cluster of small landed homes nestled in District 20 along Jalan Pintau and Jalan Hari Raya. Glancing at the price tags in this coveted district, it's evident they're already scaling impressive heights due to their prime location.
In District 13, we anticipate a similar trend with the smaller landed properties holding their value. Without these, buyers might easily bypass District 13 in favour of neighbouring areas like District 19.
Calling: Landed homeowners in District 13 or District 26
If you're a homeowner in D26 or D13, we've got a marketing strategy to get your dream buyers knocking. Reach out to me (Harvey Chia) at 9199 9141 to find out more.
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