Four freehold strata bungalows in Vanda Crescent for sale at $33 mil
Four freehold strata bungalows in Vanda Crescent will be launched for purchase on May 3 through private treaty, according to marketing agent PropNex Realty in a May 2 press release. The guide rate of the properties is $33 million, or $2,690 psf on the real estate area.
The 4 strata bungalows are positioned around 500m from Sixth Avenue MRT Terminal on the Downtown Line and also has access to highways such as Dunearn Road and even the Pan-Island Expressway. Schools not far away include Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior University, and Hwa Chong Institute.
Each bungalow has five en suite rooms in addition to its very own swimming pool and even basement level. The houses share an usual compound.
The 4 bungalows remain on a site covering 12,264 sq ft and have a consolidated built-up area of 19,353 sq ft. They were built in 2009, with the proprietor looking to offer them collectively. All 4 bungalows are currently rented and even will certainly be marketed with occupancies.
The properties, secured by a single proprietor, are situated off Dunearn Road in the Bukit Timah area in prime District 11. The properties lie near the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) areas.
She puts in that freehold landed residences in Singapore have continually seen healthy rate progress, rising by 13.3% and 9.6% specifically in 2021 and 2022. In 1Q2023, landed residence costs ascended 5.9% q-o-q. “We expect the restricted source of landed homes in Singapore will certainly continue to support rates amid secure demand for such residential properties,” she says.
The sale represents a “uncommon opportunity” for a purchaser to obtain four freehold strata bungalows that are nestled within a distinctive nonpublic landed household enclave, claims Tracy Goh, head of financial investment and cumulative sales at PropNex. “This profile of bungalows is especially suited for multi-generation families that want to cohabit while having their own room and also privacy,” she adds in.
Goh indicates that the recent walkings of the additional purchaser’s stamp duty (ABSD), which worked on April 27, is not expected to influence need for the bungalows at Vanda Crescent as foreigners are not permitted to acquire landed homes on mainland Singapore. On top of that, as the bungalows will certainly be marketed under a solitary title, they would not call for ABSD if the buyer is a Singapore resident as well as a first-time home customer.
Goh mentions that ever since 2010, there have actually been just 14 secondhand purchases at the place, including a nearby bungalow that was offered for $21.5 million ($2,431 psf) in September 2022.