There will constantly be properties hitting the enbloc age since Singapore gained independence for 58 years now. The enbloc age is typically around 30 to 45 years old with some developments much older such as Katong Shopping Centre, which is around 52 years old. 

Katong Shopping Centre is a freehold property and it was the first air-conditioned mall in Singapore. Under Master Plan 2019, Katong Shopping Centre is zoned for commercial and residential use at a gross plot ratio 3.0. The site can be redeveloped into a landmark integrated development at its existing plot ratio of 3.223, with the option of converting the residential component into serviced apartments, subject to authorities’ approval. The guide price of S$638 million translates to S$2,277 per square foot per plot ratio (psf ppr) over its existing gross floor area.

You have probably heard of the saying that a rising tide lifts all boats, it is pretty similar in the sense that when the property market is on an uptrend, almost all properties benefit from it. We can see that in all classes of residential properties but yet not all who bought during the last peak cycle in 2023 could even exit at breakeven prices. 

Older properties can offer unique character, charm, and architectural details that newer properties may lack. However, they may also come with certain challenges, such as outdated systems or the need for renovation and maintenance.

If you’re considering purchasing an older property, it’s important to have it inspected thoroughly by a qualified professional to identify any potential issues. You should also consider the cost of renovations or upgrades that may be necessary to bring the property up to modern standards.

Ultimately, the decision to purchase an old property should be based on your personal preferences, budget, and willingness to take on potential challenges associated with older homes. It’s important to do your research, weigh the pros and cons, and make an informed decision that is right for you.