14 Jun '18, 1am

Void area – What area are you paying for? https://t.co/DgoP8tKh8d

When buying a property , most would talk about floor area or built-up area. But imagine being charged for a 1,981 sq ft apartment when the actual floor area is only 1,539 sq ft. Could you be unknowingly paying for something that is and isn’t there in the same instance? The 441 sq ft of air above your head for example? Paying for the air you breath or the head-space you enjoy? Some buyers have been puzzled by the prices charged by the developers – why are the final prices sometimes more than the unit’s gross floor area? The answer is – you could be paying for the headspace provided by a property’s high ceiling . Developers are calling this a legitimate charge as not many units come with the spacious “feel or ambience”. A recent new property, for example, charged $200,000 for this extra space. Are these spaces truly worth paying for and how much is a reasonable amount to pay...

Full article: https://www.iproperty.com.sg/news/void-area-what-area-are...

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