Singapore Expats Forum

Why are house prices quoted in psf?

Discuss about any latest news or current affairs in Singapore or globally. Please DO NOT copy and paste news articles from other sources without written permission.
User avatar
Barnsley
Manager
Manager
Posts: 2131
Joined: Tue, 10 Jun 2008
Location: Pasir Ris
Contact:

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?
Life is short, paddle harder!!

User avatar
Wd40
Director
Director
Posts: 3829
Joined: Tue, 04 Dec 2012
Location: SIndiapore

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.

Sent from my Redmi Note 2 using Tapatalk

User avatar
PNGMK
Director
Director
Posts: 4990
Joined: Thu, 21 Mar 2013
Location: Sinkapore

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.
I have gay, black, Asian friends and then JR8.

okonu
Regular
Regular
Posts: 107
Joined: Mon, 02 May 2016

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)

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10563
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

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.


  • Similar Topics
    Replies
    Views
    Last post

Return to “Latest News & Current Affairs”

Who is online

Users browsing this forum: No registered users and 1 guest