Ever strolled past those massive landed houses in Katong, Serangoon Gardens, or Bukit Timah and wondered, “Wah, who are these people and what do they *actually* do?” You’re not the only one curious about who lives in these super nice homes that many of us can only dream about!
Landed Living Today
It’s no secret that landed property in Singapore is a whole different league. Redditors often share their awe, like one who said, “Some of the landed houses there are insane — super big and really nice. Honestly never seen homes like that up close before haha.” The reality is, these properties, especially in desirable areas like Nassim Hill or Gallop Walk, are often beyond the reach of typical salaried employees. According to one commenter, prices have skyrocketed: what might have cost S$600,000-S$700,000 in the late 80s for a terrace house can now be “just shy of S$3 million.” This sharp increase means the profile of who can afford them has changed dramatically.
- Current Situation
“My friends and people i know who live in landed belong firmly to 2 different camps, business owners of some sort (even at C-suite level, unless it’s some really big MNC, hard to afford at current prices) or they bought it when it was really cheap…”
“It really got away in the last 5 yrs.”
The Affordability Chasm
The dream of owning a landed home feels increasingly distant for many Singaporeans. Even those with high household incomes find it a stretch. One Redditor shared, “My household income is probably in the top 5% of the population and even then we probably can’t afford landed.” This isn’t just about the purchase price; the ongoing costs are also a major hurdle. As another user pointed out, “even if inherited, the owners still need to have quite abit of cash flow to continue staying there. Property tax is nasty and so is landed maintenance.” This creates a stark contrast to the past, where such homes were more accessible to professionals.
- Challenge Description
“As a wedding photographer I’ve been to plenty of these and every time I get reminded how much of a peasant I am thanks ah”
“Way back in the 70s/80 and even early 90s, you could still afford a terrace (inter or end unit) on a dual (even single) salary, even as a civil servant or teacher.”
Paths to a Porch
So, who are the folks in these grand properties? Reddit insights point to a few main groups. Firstly, “old money” is significant – families who bought property decades ago when it was much cheaper (like a grandpa who was a cook buying a terrace in the 60s!) or inherited businesses. Secondly, successful business owners, from SME towkays to those running large local or overseas enterprises, are common. Some Redditors also cheekily note whispers of “mysterious” folks, including alleged money launderers, in the ultra-luxe segment. Thirdly, top-tier professionals – C-suite execs in MNCs, or FAANG employees with timely RSUs – make the leap, sometimes upgrading from an HDB. Lastly, there are those who “don’t trade their time for money,” earning based on the immense value they provide, like elite trainers or pivotal corporate leaders. These are the observed pathways to landed living.
- Solution
“I work in FAANG, while my wife is an ED in a local bank. We upgraded from a 5 rm resale HDB, got lucky because of my RSUs (good timing)”
“Most of them I know are business owners or c suite at MNCs”
“a lot of the people I know who stay in nice landed houses… are people who don’t trade their time for money… they’re paid by the value they provide.”
