OLDER DEVELOPMENTS
Analysts generally agreed that older developments unlock greater value. Projects with relatively low existing plot ratios, sizeable land parcels, ageing buildings, or locations that have benefited from improved transport links and amenities are likely to attract developer interest, said Mr Sandrasegeran.
Older freehold developments may be especially appealing, although well-located 99-year leasehold projects could also remain viable, he added.
According to official government records, more than 360,000 private non-landed residential units are currently below 40 years, while 20,000 private non-landed residential units are above 40 years.
Huttons Group senior director of data analytics Lee Sze Teck estimated there are around 150 private non-landed developments aged between 40 and 59 years, and fewer than 10 developments aged 60 years and above that could potentially benefit from the revised thresholds.
About 40 per cent of these older developments are located in Districts 9, 10 and 11 in Singapore’s core central region, potentially increasing the likelihood of successful en bloc sales in areas with relatively limited Government Land Sales supply, he added.
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