PropNex Realty, in a press release published on May 2, announced that four freehold strata bungalows in Vanda Crescent would be available for sale via private treaty starting from May 3. The unit price of the bungalows is expected to be $33 million, which translates to $2,690 psf on the land area. These properties are in District 11’s Bukit Timah region, adjacent to the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) zones. The bungalows, held by a single owner and jointly up for sale, sit on a site that extends over 12,264 sq ft and possesses a combined floor area of 19,353 sq ft. Each of the four bungalows is currently rented out and is being sold with rental agreements.
Each bungalow has five elegantly designed en suite bedrooms, a private lap pool, and a basement level. These bungalows share a common area. Tracy Goh, the head of investment and collective sales at PropNex, describes this move as a “unique opportunity” for buying four freehold strata bungalows within an exclusive private landed residential enclave. These structures are particularly suited for multi-generational families wishing to reside together while enjoying their own space and privacy.
According to Goh, just fourteen resale transactions have taken place at this location since 2010, including a bungalow in the area that was acquired for $21.5 million ($2,431 psf) in September 2022. According to Goh, prices of freehold landed homes in Singapore have witnessed consistent upward growth, increasing by 13.3% and 9.6%, respectively, in 2021 and 2022. In Q1 of 2023, landed home prices ascended 5.9% q-o-q. “We expect the restricted supply of landed homes in Singapore will continue to sustain prices in the face of stable demand for such possessions,” adds Goh.
Goh also stated that the recent increase in the additional buyer’s stamp duty (ABSD) wouldn’t impact the demand for these bungalows at Vanda Crescent since foreigners are not allowed to acquire landed homes in mainland Singapore. Furthermore, provided the purchaser is a Singaporean citizen and a first-time residential property buyer, he or she will not need to pay ABSD if the bungalows are sold under one title.
The four strata bungalows are strategically located approximately 500 meters away from Sixth Avenue MRT Station on the Downtown Line, providing unparalleled access to prominent thoroughfares such as Dunearn Road and the Pan-Island Expressway. One will also find a gamut of outstanding educational institutions nearby, including but not limited to Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School & Girls’ High School, National Junior College, and Hwa Chong Institution. By its location, this residential complex enjoys modern tranquillity in a bustling city.
