Situated near exclusive GCB and Eng Neo Avenue areas in District 11, a rare opportunity is presented with the launch of four freehold strata bungalows for sale in Vanda Crescent. Being held by a single owner and built in 2009, the properties are located off Dunearn Road in the Bukit Timah area and are being sold via private treaty with a combined guide price of $33 million, or $2,690 psf on the land area.
The properties have an extensive built-up area totaling 19,353 sq. ft. and a site spanning 12,264 sq. ft. Each bungalow features five en suite bedrooms, its own lap pool, and basement level and enjoy the benefits of a shared common compound.
Currently rented out, the properties will be sold with tenancies. Tracy Goh, Head of Investment and Collective Sales at PropNex, notes the sale of these bungalows presents an ideal opportunity for multi-generational families to live together with their own space and privacy.
Goh continues to claim that landed home prices in Singapore have consistently seen healthy growth, increasing by 13.3% and 9.6% respectively in 2021 and 2022, and 5.9% q-o-q in Q1 2023.
Executive condominiums HDB EC offer an attractive housing option for middle-income Singaporeans, with the income eligibility at $16,000 – higher than the previous limit of $14,000.
The close proximity of the properties to roads such as Dunearn and PIE, as well as Sixth Avenue MRT Station on the Downtown Line, enhances the appeal of the homes. Families will also benefit from the range of nearby schools, including Raffles Girls’ Primary, Methodist Girls’ (Primary), Nanyang Primary, Nanyang Girls’ High, National Junior College, and Hwa Chong Institution.
Taking into account the recent hikes of the Additional Buyer’s Stamp Duty which took effect on April 27, this acquisition of landed properties on mainland Singapore will not be affected as foreigners are not permitted to purchase them. In addition, for buyers who are Singapore citizens and are first-time residential property purchasers, the four bungalows will be sold under a single title and therefore will be exempt from ABSD.
Since 2010, only 14 resale transactions of landed homes have taken place in the locale, demonstrating the rarity of such a sale opportunity, including a nearby bungalow that sold for $21.5 million ($2,431 psf) in September 2022.
This present sale of four freehold strata bungalows in the exclusive Vanda Crescent is undeniably a highly attractive proposition.