Turning Doubt into Triumph: Navigating a Leasehold Landed Sale in Singapore’s Competitive Market

Jee Sheong

January 25, 2024

Table of content

Land scarcity amidst a never-ending high demand for housing in Singapore has created an unparalleled allure for pure landed homes. With only an estimated 73,000 landed homes in this island nation – making up 19% of private housing stock and 4% of the total housing stock – its prestige is indisputable. Apart from the prestige it offers, the privacy and tranquillity dwellers get to enjoy is also unmatched. This tale is one that represents expertise and deep understanding of the real estate market meshed with our steadfast dedication in marketing and positioning a property to its ultimate potential, ensuring our client’s wants and needs are met. It is a narrative that exemplifies empathy, expert knowledge, and unwavering dedication to professionalism. 

About the Listing

The property in this success story is a 99-year leasehold inter-terrace with a remaining lease of 74 years at the time of sale, nestled along Verde Crescent – a landed enclave within District 23’s Chao Chu Kang estate. 

This 3-storey unit had undergone $400,000 worth of renovations, resulting in a harmonious blend of style and functionality. The expansive living space had been thoughtfully crafted to foster family interactions, featuring an open concept that connects the living room to the dining area, subtly demarcated by small steps. The entire stretch from the living room to the dining area had been adorned with beige marble flooring, complemented by a tasteful combination of earthy tones and modern blue hues in the open kitchen. On the second and third floors, the four bedrooms were distinguished by the elegance of herringbone parquet flooring.

The owner sought the expertise of PLB to sell their home as they had to travel all the way to the East of Singapore frequently due to work obligations, posing an inconvenience to their daily routine. 

A ‘Perfect” Match 

Among the prospective viewers, this property particularly caught the eye of a couple with three young children. Having sold their previous home, they found themselves in a temporary living situation with their in-laws, in a single apartment. This arrangement, albeit less than ideal, meant the couple and their young children had to make do with a cramped single bedroom for bedtime. Needless to say, the grandeur and spacious layout offered by this listing aligned with the dynamics and requirements of their family, making it an ideal match.

Assuaging Buyer’s Apprehension

Despite being drawn to the property’s inherent characteristics and the allure of space for their growing children, they had one concern – it was a leasehold property. This concern is commonplace, especially among astute buyers of landed properties. Leasehold tenures, more often than not, becomes a decisive factor for this particular group.

At this pivotal moment, our seasoned real estate experts, Jesley and Gavin, skillfully allayed their concerns by demonstrating genuine empathy. Drawing upon their extensive knowledge and deep understanding of the real estate market, they presented poignant facts that not only informed but also reassured.

They emphasised that in land-scarce Singapore, homes of such generous proportions are truly rare gems, especially considering the trend of condominiums being launched with smaller unit sizes. Furthermore, they delved expertly into the property’s pricing dynamics, underscoring that the asking price was notably lower in terms of overall quantum compared to its freehold counterparts within the area. This presented a unique opportunity for the buyer to allocate the cost difference towards other income-generating assets, all while relishing the luxury of residing in a spacious landed home.

Adding to the allure, the seller graciously agreed to leave all furnishings behind, potentially resulting in substantial savings for the buyer in terms of furniture expenses.

Fulfilling Dreams: A Satisfied Seller and a Buyer’s Perfect Ending

The buyer’s initial apprehensions were expertly addressed, and it is through the profound understanding of real estate coupled with genuine consideration for both the buyer’s and the seller’s requirements that this exquisite three-story inter-terrace found its new owner. 

The Realtors: Jesley and Gavin

For our committed realtors in this story, Jesley and Gavin, their ultimate goal in each and every transaction is to furnish clients with unbiased opinions and thorough analyses of selected properties. Their unwavering commitment lies in ensuring that clients not only find the optimal property but also receive comprehensive insights tailored to their financial considerations, long-term goals, and lifestyle preferences.

Final Thoughts

The successful sale of this exquisite Villa Verde inter-terrace serves as a shining example of our unwavering commitment to real estate with integrity. In this case study, our dedicated realtors embody our core belief that every transaction involves more than just property; it involves a home, and behind each home is a family.

We recognize that every family has distinct needs and aspirations. Our central focus is not just on completing transactions but on ensuring the happiness of each family and the fulfilment of their unique aspirations.

If you have any lingering questions about your property journey or if you’re in need of a second opinion on market options, feel free to connect with us here. Our Inside Sales Team Consultants, with their eagerness and experience, stand ready to offer you a personalised consultation session. 

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