Fireside chat with representatives from FRX Capital and Sevens Group. Photo: PLB Media
Owning a landed home in Singapore is seen as a sign of symbol and prestige. This is especially so in recent years, when landed home prices have risen significantly. In 1Q2023, landed property prices jumped 5.9% q-o-q, compared to 2.6% q-o-q for non-landed private residential property. Landed property was the key contributor to the 3.3% q-o-q increase in the overall private residential property price index, according to URA.
On a y-o-y basis, landed property prices were up 9.6% in 1Q2023, while the non-landed private residential property was up 8.1% over the same one-year period.
Builders’ panel discussion. Photo: PLB Media
“Landed property offers a unique lifestyle experience that combines privacy and exclusivity with the luxury of spacious living,” said Melvin Lim, co-founder and CEO of PropertyLimBrothers Realty (PLB), in his opening speech at PLB’s inaugural landed housing convention on May 20.
According to URA data, the landed housing stock in Singapore (terraced, semi-detached and detached houses) totalled 73,356 units in 1Q2023, compared to 320,706 non-landed units (private apartments and condos combined).
Landed housing makes up 18.6% of total private housing. If HDB public housing were included, the proportion of landed housing shrank further to just 4% of Singapore’s overall housing market, notes PLB’s Lim. “It is no wonder that landed properties have been a great store of wealth over the years,” he adds.
Architect’s sharing session. Photo: PLB Media
Lim believes that as landed housing prices increase, the barrier to entry will become even higher over time. Hence, it is “an elastic product” with a fixed supply and increasing demand.
PLB’s inaugural landed property convention on May 20 was held at Pan Pacific Singapore. It was also the first public event held by PLB since the real estate agency became an independent firm in September 2022.
During the seven-hour session that started from 11am, the 375 attendees were seated comfortably at the venue, which was transformed into a plush living room setting with a handcrafted grand piano from Steinway & Sons. During the event, Steinway’s young performers treated attendees to piano performances. The sommelier from Praelum Wine Bistro also conducted wine appreciation sessions.
PLB’s inaugural landed housing event was attended by 375 guests on May 20. Photo: Albert Chua/The Edge Singapore
The event started with Lim’s presentation on market trends, pricing analysis and opportunity gaps in the landed housing market. It was followed by panel discussions with builders and architects, fireside chats with developers and testimonials from PLB’s current clients.
The day ended with a 30-minute Q&A session featuring PLB’s Landed Home Experts Panel comprising associate listing consultant manager, George Peng; associate listing & investment consultant, Ong Yu Rong; as well as Lim.
Developers who participated in the event included Bukit Sembawang Estates, FRX Capital (formerly Fraxtor Capital), G+A Development, JVA Venture, Sevens Group, Wah Khiaw Properties, Asia Development and Pebble Green Developments.
PLB’s clients sharing their investment journey. Photo: Albert Chua/The Edge Singapore
Other participants in the event included legal firm Golden Law, interior design firm Rezt & Relax Interior Design, Sapphire Windows, The Smart Home (which provides smart switches, lighting and home security), lifestyle furniture store Commune, KeyQuest Mortgage, branded home appliances maker Bosch and premium mattress brand Simmons. EdgeProp Singapore was the official media partner for the event.
“The landed housing convention allowed developers to maximise their reach by directly presenting their products and portfolio to qualified buyers,” notes Lim. “Brand partners benefitted from increased brand awareness, consumer education, and the potential for new partnerships.”
From left: Kenneth Toh, director of KeyQuest Mortgage; Bernard Tong, CEO of EdgeProp Singapore; and Melvin Lim, co-founder and CEO of PLB Realty. Photo: Albert Chua/The Edge Singapore
A charity draw was held towards the end of the event. Guests purchased 146 tickets, with PLB matching their contribution dollar-for-dollar. The contributions totalling $5,840 were given to World Vision to support the Sambour community in Cambodia.
According to Lim, consumers who attended the event could view available landed homes and receive expert advice, all in one day. “We wanted to foster a sense of community and allow everyone to connect and enjoy the day, creating a memorable and enriching experience for all involved,” he adds.
Builders panellist sharing
Fireside chat with developers
Live Q&A
Click here for a copy of PLB's answers to the questions posed during its live Q&A.