Four freehold strata bungalows in Vanda Crescent for sale at $33 mil
The sale represents a “unusual possibility” for an investor to get four freehold strata bungalows that are nestled throughout a distinctive private landed housing territory, claims Tracy Goh, head of financial investment and also collective sales at PropNex. “This portfolio of bungalows is especially fit for multi-generation families that desire to cohabit while possessing their very own area and also personal privacy,” she includes.
The real estates, held by a single owner, are situated off Dunearn Road in the Bukit Timah location in key District 11. The estates are located near the Eng Neo Avenue and also Raffles Park Good Class Bungalow (GCB) areas.
Goh notes that as 2010, there have actually been just 14 secondhand transactions at the area, consisting of a nearby bungalow that was offered for $21.5 million ($2,431 psf) in September 2022.
Each bungalow has five en suite bedrooms in addition to its personal swimming pool and even basement level. The homes offer a common compound.
The four strata bungalows are located approximately 500m from Sixth Avenue MRT Station on the Downtown Line and has entry to highways such as Dunearn Road and even the Pan-Island Expressway. Schools not far away consist of Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ Highschool, National Junior University, along with Hwa Chong Institute.
Four property strata bungalows in Vanda Crescent will be launched for deal on May 3 using private treaty, according to advertising agent PropNex Real estate in a May 2 press release. The overview cost of the real estates is $33 million, or $2,690 psf on the land area.
Goh indicates that the current walks of the added buyer’s stamp duty (ABSD), which worked on April 27, is not expected to impact interest for the bungalows at Vanda Crescent as foreigners are not allowed to get landed homes on mainland Singapore. In addition, as the bungalows will certainly be marketed under a single title, they would not need ABSD if the client is a Singapore national and also a new residential property purchaser.
She puts in that freehold landed homes in Singapore have actually consistently seen healthy rate development, rising by 13.3% and 9.6% respectively in 2021 and even 2022. In 1Q2023, landed residence costs rose 5.9% q-o-q. “We expect the minimal supply of landed homes in Singapore will certainly remain to sustain costs in the middle of stable interest for such properties,” she says.
The four bungalows remain on a site covering 12,264 sq ft and have a consolidated built-up area of 19,353 sq ft. They were integrated in 2009, with the proprietor seeking to sell them jointly. All 4 bungalows are at the moment rented plus will certainly be sold with occupancies.