THE current property boom may highlight a hidden fact about cluster homes that escapes the attention of many buyers and which agents and developers do not highlight.
The area sold for cluster landed property is very different from that used in condominiums. In condominiums, if you buy 1,500 sq ft, you get 1,500 sq ft. In cluster landed property, if you buy, for example, 5,000 sq ft of built-up area, you will not get 5,000 sq ft because the 5,000 sq ft includes a lot of ‘void area’ or ‘air space’ which is unusable.
Such air space can comprise as much as 20 per cent of the total area.
Many agents are either genuinely ignorant of this or will not tell buyers unless they are asked.
The problem arises from the ‘box up’ method of calculating floor space. A cluster landed property is typically built upwards with four or five levels (including basement and attic). In the box up method, developers take the largest floor area and multiply it by the number of levels, including one for the roof. Continue reading
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