When considering pure landed homes, discerning buyers often focus on a few prime districts, with District 10 (Tanglin, Bukit Timah, Holland) and District 15 (Tanjong Rhu, Amber, Meyer, Katong, Dunman, Joo Chiat, Marine Parade) leading the list. District 10, part of the Core Central Region (CCR), is known for its abundance of semi-detached and detached houses. It’s frequently regarded as one of Singapore’s most affluent areas, offering families exclusive landed enclaves that provide a tranquil, upscale living environment. Having an address in District 10 is often seen as a mark of prestige and higher social status, especially for pure landed homes. The pricing trends reflect this, with D10 homes typically commanding a premium over other districts. Furthermore, the exclusivity of the area means that available properties in D10 are often limited, making them even more sought after.
In this article, we’ll explore District 15 as an alternative to District 10. We’ll compare the landed enclaves in both districts, as well as the overall pricing trends for various types of landed homes. It’s important to note that neither district is inherently better or offers more value for money than the other. Ultimately, when investing in a pure landed home, it’s essential to ensure that the property aligns with your budget, long-term goals, and your family’s lifestyle preferences.
Comparing District 10’s Prestige with District 15’s Charm
Most of the landed enclaves in District 10, stretching from Ulu Pandan to Swiss Club, offer residents an exclusive suburban living experience. These enclaves are relatively close to major destinations like the Orchard Shopping Belt, Holland Village, Botanic Gardens, or Bukit Timah Nature Reserve, depending on the specific location. Mention District 10, and terms like ‘prestige’ and ‘affluence’ often come to mind. As noted earlier, the pure landed homes here predominantly consist of semi-detached and detached (bungalow) properties.
In contrast, District 15, spanning from Tanjong Rhu to Marine Parade, offers a unique blend of old-world charm in Katong and Joo Chiat, alongside the modern conveniences of Marine Parade and East Coast. This district’s mix of heritage and modernity gives its landed homes a distinctive appeal, ranging from quaint Peranakan-style shophouses to contemporary bungalows. Residents of District 15 will get to enjoy a dynamic living experience that stands out in Singapore’s real estate market.
When it comes to land and built-up sizes, pure landed homes in District 15 are generally larger than those in District 10. Across Singapore, District 19 typically has the largest landed homes followed by District 15, with District 10 ranking third.
Additionally, District 15 has significantly more pure landed homes listed on real estate portals compared to District 10, with inter-terraced and corner terrace homes making up the majority of the listings.
Ultimately, the return on investment (ROI) of a pure landed home depends on various factors, including the property’s size, potential for future developments, type, and overall condition. While financial gains are important, they shouldn’t be the sole consideration when selecting your ideal pure landed property. Equally significant are your family’s lifestyle preferences and long-term happiness. Pure landed homes have long been a cornerstone of property asset classes, known for their resilient capital appreciation. Regardless of which district you choose, the value of pure landed homes in Singapore is expected to remain strong over time.
District 10 vs District 15: Pure Landed Home Prices and Inventory
District 10
In our previous article, we covered the different classifications of pure landed properties based on age and provided benchmark prices for each type in District 10. We also explored practical home design ideas and offered rough estimates for renovation or Additions & Alterations (A&A) costs.
To recap, Category 1 homes are over 30 years old and typically require a full teardown and rebuild. Category 2 homes, aged 20-30 years, usually need major renovations or A&A. Category 3 homes, less than 15 years old, may require either minor or major renovations depending on their condition. Finally, Category 4 homes are brand-new, move-in-ready properties that require little to no renovation, depending on personal preference.
As of 5 September 2024, District 10 had approximately 54 inter-terraced and 60 corner terrace homes listed for sale. There were also 608 semi-detached homes on the market, the second-highest number of such listings in Singapore. Detached homes had the highest number of listings across the country, with 477 available for sale.
Inter-terraced Homes
According to the table above, the asking prices for Category 1 inter-terraced homes typically start at around $5.5 million, Category 2 at $6 million, Category 3 at roughly $7 million, and brand-new Category 4 homes at approximately $8 million.
Semi-detached Homes
The asking prices for semi-detached homes typically start at $6.5 million for Category 1 homes, with each subsequent category, 2 and 3, increasing by about $1 million. Brand-new Category 4 semi-detached homes are priced around $10 million.
Detached Homes
Detached homes in District 10 typically have asking prices of around $8 million for Category 1, $9 million for Category 2, and at least $10 million for Category 3 and 4 homes.
District 15
In contrast to District 10, as of 16 September 2024, District 15 had 529 inter-terraced and corner terrace homes listed for sale, representing 33.6% of the total pure landed home inventory. The district also had 698 semi-detached homes, the highest number of such listings in Singapore, along with 347 detached homes available on the market.
Inter-terraced Homes
When it comes to the overall pricing for inter-terraced and corner terrace homes across all categories in District 15, there are still many options available for under $5.5 million. However, some of these may be Category 1 homes that require a complete teardown and rebuild. As shown in the charts above, there are also outliers, with some inter-terraced homes priced around $9 to $10 million and corner terraces ranging from $12 to $15 million.
If the address isn’t your top priority, District 15 could offer more options for a pure landed home while keeping the overall price within your budget, given the high number of terraced homes available.
Semi-detached Homes
For semi-detached homes, there are still options priced below $5.5 million. However, the majority are listed in the $9 to $10 million range, with some commanding asking prices as high as $15 to $20 million. It’s important to note that homes on the lower end of the price spectrum may be older properties, falling under Category 1 or 2.
Detached Homes
Similar to detached homes in District 10, the asking prices for detached homes in District 15 also start around $8 million. The majority of detached homes in District 15 are commanding a price between $15 million and $20 million, with 126 listings in this range. These higher-priced homes are typically larger, newer, and in move-in-ready condition.
D10 vs D15 Pure Landed Homes: Which is the Better Investment Choice?
Pure landed homes in Singapore have consistently remained an inelastic asset class, offering strong wealth preservation and capital appreciation. Since 2020, the landed property market has experienced an impressive 37% growth across all types and districts, even amid rising interest rates. This growth is driven by the limited supply of landed homes, which account for less than 5% of all properties in Singapore. These figures underscore the enduring value of landed properties, regardless of district.
When comparing District 10 and District 15, both offer distinct advantages, and the choice ultimately comes down to personal preferences. District 10, located in the Core Central Region (CCR), is known for its prestigious addresses and proximity to elite schools and key amenities, with some enclaves offering a serene and exclusive lifestyle. Similarly, District 15, part of the Rest of Central Region (RCR), is highly sought after for its coastal charm, modern conveniences, and proximity to renowned schools, as well as easy access to the East Coast and Marina Bay. Both districts offer excellent investment potential in pure landed homes, catering to different lifestyle needs and priorities.
Currently, average PSF prices for pure landed homes stand at $2,402 in the CCR, $2,273 in the RCR, and $1,701 in the OCR. No matter which district you choose, investing in a pure landed home continues to offer a solid means of preserving wealth and achieving long-term capital appreciation, making it a strong choice in Singapore’s competitive property market.
In Summary
Both District 10 and District 15 provide intriguing opportunities for investing in pure landed homes, each offering unique characteristics that cater to different preferences. Whether you’re drawn to the prestige and exclusivity of District 10 or the vibrant, coastal appeal of District 15, both districts represent solid choices for long-term wealth preservation and capital appreciation. Ultimately, the best district for you will depend on your lifestyle needs, budget, and personal priorities. As Singapore’s pure landed homes continue to be a valuable and limited asset class, securing a property in either district promises enduring value in the ever-competitive real estate market.
