Cluster Housing in Singapore Bridges Gap Between Condo, Landed Property Living
Cluster housing in Singapore represents a middle ground between the condo and landed property living. You get a strata title as your portion of the building that you own.
You also access facilities on the grounds, such as swimming pools, workout gyms, 24-hour security and lush gardens. Cluster housing in Singapore is not as crowded as a condo, but it is not as private as landed property in Singapore.
Take a look at cluster housing in Singapore to see if this type of property fits your lifestyle.
What You Get With Cluster Housing in Singapore
Regulations set forth by the Urban Redevelopment Authority in 2014 expanded the possible green space that goes into cluster housing in Singapore. The formula adopted in 2014 examined complaints from owners of landed property estates who said large strata landed homes caused more traffic problems in residential areas.
Before these regulations, developers had to set aside 30 percent of the property for common outdoor space. Now, that number if 45 percent, or nearly half, of the property. Of that 45 percent, one-quarter is green space, and one-fifth is for other areas, such as clubhouses, communal swimming pools and playgrounds for children.
Because of these regulations, newer cluster housing Singapore has fewer residents, more green space and more communal facilities. Older properties might have more storeys and less common area, which means you feel more crowded among your neighbours.
Even with older units facing more crowds, there are some pluses to living in cluster housing in Singapore.
One of the major pluses of cluster housing is that you get condo-style shared facilities. Enjoy a dip in the pool or a stroll through the gardens while security keeps you safe. You have plenty of parking spaces for when you have family and friends over to visit.
Although cluster housing in Singapore looks a lot like condo living, there aren’t as many people who live in this type of gated community arrangement. The housing can be in groups of several dozen units clustered together, but they are no more than four storey tall. The property is more spread out horizontally rather than vertically.
You might live in four bedrooms among three storey of space, and you can have a back door that opens to a luxurious pool or a verdant garden. The land attached to cluster housing might be more than what you get from other types of landed property.
Parking is not an issue, which is something that comes up when you own landed property. Many cluster housing developments in Singapore are newer than other types of landed property, which means you get modern conveniences built into your purchase price. Strata Landed housing in Singapore might even be cheaper per square foot than condo living as compared.
Cluster housing in Singapore offers the perfect chance for potential owners to network with similar high net worth individuals within the same strata landed housing.
Some projects are just near popular primary schools that turn out to be well received by buyers who wish to enrol their child in that particular school.
This type of life can be for you, but it does have a few drawbacks.
You have a lack of privacy when you live in cluster housing in Singapore. You share a wall or two with your neighbours, depending on the unit in which you live. You may run into complete strangers you have never seen before on a regular basis.
If you want to renovate your space or change the exterior of your property, you need to get permission from the cluster home’s management committee first. You have less freedom to upgrade your property as you would in other types of landed property.
In additional, you will not have the option to tear down and rebuild like new landed property owners could do as this is strata title.
Rising prices are another drawback to this kind of property ownership. From 2004 to 2008, during the first part of the housing boom in Singapore, the values of strata titles for landed property skyrocketed 77 percent in four years. From 2008 to 2013, the second market growth shows another increase in prices by 20 percent. Weak demand in 2014 led to developer discounts and some market cooling, but cluster housing in Singapore may even be more expensive than bungalows in some cases.
Strata Landed house in Singapore can get crowded, but the amenities make up for it. Prices may start at $3 million and rise upward. Strata Landed housing in Singapore is ideal for people who want the prestige of landed property combined with the amenities of condo living.
You get to enjoy some land, plenty of parking spots for hosting parties and the security that comes with a condo. Meanwhile, you do not have to worry about maintenance issues such as pest control that accompany owning landed property. You do have less privacy, however.
Cluster housing in Singapore could be a sound investment since property prices for this type of accommodation steadily rose from 2004 onward. You might stand to gain a significant percentage of your purchase back in five to 10 years if you sell your strata title at the right time.
Who Can Help
Discuss your options with Dylan Tan, your preferred real estate salesperson first before deciding on which type of cluster housing suits your needs. Dylan can suggest projects that have the highest potential for your family.
Dylan can pair you with cluster housing developments that fit your needs. He can point you to older facilities built in the 1990s or to newer ones that came online after the new regulations took effect. Some parts of Singapore might be more crowded than others, and Dylan can show you quieter neighbourhoods.
Dylan knows which cluster housing areas are in demand. He can help negotiate better deals for you by reaching out to developers/owners on your behalf. You have a friend whose experience in the housing market can put you in landed property that’s right for you.