Four strata bungalows with freehold in Vanda Crescent will be launched to be sold on May 3 through a private treaty, as per the agent for marketing PropNex Realty in a May 2 press announcement. The price range for four properties are $33million or $2,690 per sq ft for the area of land.
The properties that are held by a single owner are located on Dunearn Road in the Bukit Timah area, which is in the District 11. The properties are situated near areas such as the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) zones.
The four bungalows are located on the site that covers 12,264 square feet and cover an overall built-up area of 19,353 square feet. They were constructed in 2009 with the owner hoping to sell them together. Four bungalows are currently let out to tenants and will eventually be sold as the tenancy.
Each bungalow is equipped with five bedrooms with en suites as well as a lap pool as well as a the basement level. The bungalows share a common area.
The sale offers an “rare chance” for buyers to buy four strata bungalows with freehold located within an exclusive residential enclave. Tracy Goh, head of the collective and investment sales division at PropNex. “This group of bungalows is ideally suited for families of multiple generations that want to live together, but have their own privacy and space,” she adds.
Goh mentions that since 2010 there have only 14 resales in the neighborhood, including an adjacent bungalow that was purchased to the buyer for $21.5 million ($2,431 per square foot) in September 2022.
She also notes that freehold landed houses in Singapore have always seen steady growth in prices, increasing in 13.3% and 9.6% in 2021 as well as 2022. In the first quarter of 2018, landed home prices increased by 5.9% q-o-q. “We believe that the scarce inventory of homes that are landed within Singapore is likely to boost prices despite the steady demand for these properties,” she says.
Goh says that the recent increase in the additional stamp duty for buyers (ABSD) which came into effect on April 27th and isn’t expected to impact the demand for bungalows located at Vanda Crescent as foreigners are not allowed to purchase land-locked homes in mainland Singapore. Furthermore, since the bungalows are sold with one title, they won’t need ABSD in the event that the buyer is an Singapore citizen, and is new residence property buyer.
These four bungalows are located approximately 500m close to Sixth Avenue MRT Station on the Downtown Line and has access to major roads like Dunearn Road and the Pan-Island Expressway. Schools nearby include Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior College, and Hwa Chong Institution.