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Why are house prices quoted in psf?

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Why are house prices quoted in psf?

Postby Barnsley » Tue, 25 Oct 2016 3:46 pm

Just asking , as surely its the overall price that determines affordability and not the psf?

Whats the point in having to do a floor area x psf , when you just can quote the price?

I see a lot of folk on property sites talk about psf , but isnt that irrelevant if you cant afford the overall price in the first place.

e.g. Sentosa somewhere recently was 1200psf , but the overall price of the place was $30M++ , some were saying so cheap as a place in Serangoon was quoted as 1400psf.

What is the point?
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Re: Why are house prices quoted in psf?

Postby Wd40 » Tue, 25 Oct 2016 4:09 pm

People do it as it suits them. When selling Mickey mouse unit they tell you $5XX and psft wise it is $1800. When they are selling a huge landed bungalow they tell you psft.

To me, I need both the psft as well as the area. I can then find the total quantum myself.

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Re: Why are house prices quoted in psf?

Postby PNGMK » Tue, 25 Oct 2016 6:40 pm

For rapid comparisons of prices for the same class or condo development. Once you get used to it, it does make pricing quicker to analyse. You couldn't use it to compare a bungalow to a HDB.
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Re: Why are house prices quoted in psf?

Postby okonu » Tue, 25 Oct 2016 7:12 pm

Because it was a british colony. Otherwise they would use price/ square metre, or (as in Japan) price/ tatami (unit of measurement for flats/ houses there is tatami mats)

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Re: Why are house prices quoted in psf?

Postby Strong Eagle » Tue, 25 Oct 2016 9:37 pm

Price per square foot is an indicator of build level and in the USA, desirability of the location.

Higher price per square foot means granite instead of Formica countertops, higher grade appliances, other amenities such as wired for internet, automated controls, etc.

Also means closer to wanted locations... same identical house next to Orchard costs more than out at Jurong.

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