Cheapest Landed Property in Singapore (March 2013)

The Cheapest Landed Property Sold in Singapore (March 2013)

Photo of the cheapest landed property sold in Singapore in March 2013

The cheapest landed property sold in Singapore in March 2013 is a 853sqft Landed Inter-Terrace at 780 Lorong 3 Geylang that sold for SGD$180,000 ($211psf) !

Why so cheap you ask?
Because this land only has a tenure of 60 years from 1961... which means it is already 52 years old this year, and has only 8 years left on its lease.

Financially, this means :

• If the owner bought this house with the intention to rent it out for rental yield, to breakeven, he/she needs to rent it out for...

$180,000 / (8 x 12) = $1,875 per month

• Otherwise, if the owner bought this house for his/her own stay, he/she is paying about $1,875 a month to live in this house.

One thing to note about buying a house with only has 8 years left on its lease, is you need to pay for it in CASH - because no bank will lend you the money. Also, once the lease is up, you may or may not be able to renew the lease (really depends on the original owner of the land).

Would you have bought this cheapest landed property in Singapore for SGD$180,000?