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

Video description from @notgpodcast

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

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