Planning & Development of Land Flashcards
What is ‘property’?
Property is the OBJECT
over which a person has
RIGHTS and may be
classified in different ways
Explain ‘real (immovable)’ and ‘personal (movable)’ classification of property.
Real (Immovable): Land or real estate
Personal (Movable): Others e.g. furniture, phone, shares etc.
Define ‘Real Estate’.
The modern term for Land.
Ownership of real estate comes with a combination of _____________.
Property rights
Elaborate the bundle of property rights.
- Right of Possession – the property is owned by the owner
who holds the title. E.g.: If the tenant does not want to pay rent, the landlord can repossess the property.) - Right of Control – the right to control the use of the property.
Eg: right to collect rent from leasing out the land. - Right of Exclusion – the right to exclusive possession. Eg:
the tenant entitle to assert the right of exclusive possession
against anyone, including the owner.
4. Right of Enjoyment – the right to use and enjoy the land in
any manner the owner may deem fit.
- Right of Disposition The title holder has the right to transfer
the land to others. Eg: sale or rent.
What are the physical characteristics of Real Estate?
- Immobility
- Heterogeneity (Uniqueness)
- Durability
- Indivisibility.
What are the economic characteristics of Real Estate?
- Illiquidity
- High transaction cost
- Long transaction time
- Long term maintenance
- Good hedge against inflation
- Intervention of the government
- Irrational
- Imperfect information
How many types of properties are there? Provide examples.
3
- Residential: Public/ Private (Landed/Non-landed)
- Commercial: Office, Shop, Shophouse
- Industrial: Factory, Warehouse, Biz Park
What are the 2 landed residential property titles?
Land Titles & Strata Titles
What are ‘Land Titles’?
Each owner will have their own boundaries and they own their own individual houses. Each will sit on their own lands.
- Good Class Bungalows (GCBs)
- Detached Bungalows / Houses)
- Semi-detached Houses
- Terrace Houses
What are ‘Strata Titles’?
1 piece of land and several houses on it. They share the same piece of land.
E.g. 8 houses on a land means there will be 8 Strata Titles. They will share the same facilities on the land (e.g. swimming pool).
- Strata Bungalows
- Strata Semi-detached Houses
- Strata Terrace Houses / Townhouses
List down the districts that are gazetted GCB areas.
Districts 10, 11, 20, 21, 23.
(Only GCB allowed.)
How many designated landed housing areas are there in Singapore?
58
How many designated landed housing areas are there in Singapore?
58
What does “CT” stands for?
Certificate of Title
What does “SSCT” stands for?
Subsidiary Strata Certificate of Title
