Four freehold strata bungalows in Vanda Crescent for sale at $33 mil
The properties, held by a solo owner, are located off Dunearn Road in the Bukit Timah area in top Area 11. The real estates are located near the Eng Neo Avenue and also Raffles Park Good Class Bungalow (GCB) places.
The four bungalows sit on a location spanning 12,264 sq ft and have a combined built-up area of 19,353 sq ft. They were built in 2009, with the owner seeking to market them jointly. All 4 bungalows are at the moment rented out and will certainly be sold with tenancies.
The four strata bungalows are located around 500m from Sixth Avenue MRT Terminal on the Downtown Line as well as has easy access to highways including 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 College, and Hwa Chong Institute.
Goh notes that as 2010, there have been just 14 resale transactions at the area, consisting of a close-by bungalow that was sold for $21.5 million ($2,431 psf) in September 2022.
The sale represents a “uncommon chance” for an investor to obtain 4 freehold strata bungalows that are snuggled within an exclusive private landed home territory, claims Tracy Goh, head of investment and cumulative sales at PropNex. “This portfolio of bungalows is particularly suited for multi-generation families that desire to live together whilst receiving their own space and personal privacy,” she adds.
She includes that freehold landed estates in Singapore have actually constantly seen healthy cost growth, climbing by 13.3% and also 9.6% specifically in 2021 and even 2022. In 1Q2023, landed house costs climbed up 5.9% q-o-q. “We expect the minimal amount of landed homes in Singapore will certainly remain to support costs amidst steady need for such residences,” she states.
Each bungalow has 5 en suite bedrooms in addition to its personal swimming pool including basement level. The homes offer a typical compound.
Goh mentions that the recent walks of the extra buyer’s stamp duty (ABSD), which took effect on April 27, is not anticipated to impact demand for the bungalows at Vanda Crescent as foreigners are not allowed to obtain landed homes on mainland Singapore. In addition, as the bungalows will be marketed under a single title, they may not require ABSD if the client is a Singapore citizen and a newbie residential property customer.
Four estate strata bungalows in Vanda Crescent will likely be launched for purchase on May 3 by means of private treaty, according to advertising agent PropNex Real estate in a May 2 news release. The guide rate of the properties is $33 million, or $2,690 psf on the land area.