Download - #17: Cracking the Condo Code 2: Why some 99-year Condos Out-Perform Freehold Condos in the same Enclave | NOTG

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NOTG - Nuggets on the Go by PropertyLimBrothers

Education

#17: Cracking the Condo Code 2: Why some 99-year Condos Out-Perform Freehold Condos in the same Enclave | NOTG

2023-06-02

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Cracking the Condo Code 2: Why some 99-year Condos Out-Perform Freehold Condos in the same Enclave | NOTG

Perhaps you may have noticed while searching for your next property, 99-year projects going at a higher PSF than freehold projects in the same area. Ever wondered why that’s the case? The 2nd episode of our Cracking the Code series, Melvin Lim talks about condominiums and specifically the behaviours of the projects in relation to disparity effect, the valuation and price appreciation in the enclave.

Using Kovan Melody and Kovan Esquire as the main 99-year vs freehold examples, tune in to find out how it is possible that one may be asking and transacting at a higher price than the other despite their tenures. Also, find out what factors drive price appreciation. All these and more in this latest episode of Nuggets On The Go!

(00:00:00) Introduction
(00:03:31) Why is Kovan region special?
(00:06:11) What is mixed landed zoning?
(00:08:03) What is boutique development?
(00:08:23) Checking the height of a unit using Squarefoot Research
(00:09:01) Checking the height of a unit using Google Earth
(00:09:28) Trends
(00:11:27) Freehold vs. 99-year Leasehold
(00:11:42) Melvin real estate experience
(00:12:24) All properties can be sold
(00:13:39) Inherent Factors, Changeable Factors and Pricing Mechanism
(00:15:20) Kovan Esquire
(00:16:35) 2011 transactions in Kovan region
(00:19:50) PLB Landed Convention
(00:21:21) Present day Kovan region
(00:22:41) Desktop valuation
(00:23:17) 2011 vs 2023
(00:24:00) Kovan Esquire appreciation rate comparing to Kovan Melody
(00:25:14) Sellers or buyers, which is more important?
(00:32:40) Kovan Esquire transactions
(00:34:00) Kovan Melody transactions
(00:34:26) Human psychology of selling a property
(00:36:55) Pros and cons of freehold projects
(00:38:17) Bala's curve
(00:39:11) Conclusion
(00:43:54) Bloopers

Watch the video on our NOTG YouTube Channel:
https://youtu.be/LMKTqWZlxC0