Four freehold strata bungalows in Vanda Crescent for sale at $33 mil
The 4 strata bungalows are located approximately 500m from Sixth Avenue MRT Terminal on the Downtown Line as well as has entry to highways such as Dunearn Roadway 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 College, and Hwa Chong Institution.
The sale represents a “unusual possibility” for an investor to acquire 4 freehold strata bungalows that are nestled inside a premium nonpublic landed household surround, says Tracy Goh, head of investment and collective sales at PropNex. “This collection of bungalows is especially matched for multi-generation households who want to cohabit while having their own area and privacy,” she adds.
The four bungalows rest on an area extending 12,264 sq ft as well as have a mixed built-up area of 19,353 sq ft. They were constructed in 2009, with the owner seeking to offer them collectively. All four bungalows are presently leased and even will certainly be marketed with tenancies.
She adds that freehold landed estates in Singapore have actually constantly seen healthy and balanced price progress, rising by 13.3% and 9.6% respectively in 2021 and 2022. In 1Q2023, landed residence costs climbed 5.9% q-o-q. “We expect the restricted supply of landed homes in Singapore will certainly remain to support costs amid steady demand for such residential properties,” she says.
Goh mentions that the current walks of the extra buyer’s stamp duty (ABSD), which worked on April 27, is not expected to affect demand for the bungalows at Vanda Crescent as foreigners are not allowed to get landed residences on mainland Singapore. Furthermore, as the bungalows will be offered under a solitary title, they might not need ABSD if the purchaser is a Singapore citizen as well as a newbie residential property buyer.
Each bungalow has five en suite bedrooms together with its very own swimming pool and cellar level. The houses offer a common compound.
Four estate strata bungalows in Vanda Crescent will likely be launched for deal on May 3 through private treaty, according to advertising representative PropNex Real estate in a May 2 announcement. The guide price of the properties is $33 million, or $2,690 psf on the land area.
The properties, held by an one owner, are situated off Dunearn Road in the Bukit Timah area in key Area 11. The real estates lie close to the Eng Neo Avenue and also Raffles Park Good Class Bungalow (GCB) spots.
Goh mentions that ever since 2010, there have actually been just 14 secondhand deals at the locale, including a neighboring bungalow that was sold for $21.5 million ($2,431 psf) in September 2022.