For $33 million, four freehold strata homes are available in Vanda Crescent

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Four strata bungalows with freehold in Vanda Crescent will be launched to the market on May 3 through a private treaty, said the agent for marketing PropNex Realty in a May 2 press announcement. The estimated price of these properties will be $33 million which is $2,690 per square foot for the area of land.

The properties that are held by a single proprietor, are located on Dunearn Road in the Bukit Timah region in District 11. The properties are located close to those of 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 a total built-up area of 19,353 square feet. The bungalows were constructed in 2009 and the owner is looking to sell them all together. Four bungalows are currently being rented out and are expected to be sold as leases.

Each bungalow is equipped with five bedrooms that are en-suite as well as a lap pool as well as a the basement level. The homes share a common area.

The sale is an “rare chance” for buyers to buy four strata bungalows with freehold which are located in an exclusive residential enclave. Tracy Goh, head of collective sales and investment at PropNex. “This group of bungalows is ideal to families with multiple generations who want to live together, but have their own privacy and space,” she adds.

Goh mentions that since the year 2010, there’s been only 14 resales in the neighborhood, including the nearby bungalow which was purchased to the buyer for $21.5 million ($2,431 per sq. ft.) in September 2022.

She says that freehold-landed properties in Singapore have seen consistent prices, increasing to 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 availability of landed homes within Singapore is likely to help support 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 The increase is not likely to impact demand for the bungalows located at Vanda Crescent as foreigners are not allowed to buy 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 or the first time residence property buyer.

Four strata bungalows sit approximately 500m close to Sixth Avenue MRT Station on the Downtown Line and has access to major roads, including 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.