Ridout Road rents stir debate on valuation of black-and-white houses in property circles

THE Singapore Land Authority’s (SLA) disclosures on rents at Ridout Road have stirred debate on the valuation of the state-owned “black-and-white” houses, with some in the real estate trade raising questions on how the rents were assessed and priced.

Some have also questioned why the rent on Law Minister K Shanmugam’s house was not increased upon renewal of its lease as other tenants’ were.

Data released by the government showed that the rent that Shanmugam is paying for 26 Ridout Road was comparable to neighbouring houses in the estate, on the basis of rent per unit of gross floor area (GFA). The land area included under the lease agreement for 26 Ridout Road, however, is many times more than its neighbours.