Four freehold strata bungalows in Vanda Crescent for sale at $33 mil

Four freehold strata bungalows located off Dunearn Road in District 11’s Bukit Timah area will be launched for sale via private treaty on May 3. Held by a single owner, the guide price for the 12,264 sq ft property is set at $33 million, or $2,690 psf on the land area.According to PropNex Realty, this sale marks a rare opportunity for a buyer to acquire four freehold strata bungalows that are nestled within an exclusive private landed residential enclave. Each bungalow has five en suite bedrooms and come with their own lap pool and basement level. The houses share a common compound and are currently rented out.Tracy Goh, head of investment and collective sales at PropNex, says the sale is “particularly suited for multi-generation families who wish to live together while having their own space and privacy”. Goh mentions that since 2010, there have been just 14 resale transactions at the locale, including a nearby bungalow that was sold for $21.5 million ($2,431 psf) in September 2022.Over the past two years, freehold landed homes in Singapore have seen steady price growth. According to Goh, prices rose by 13.3% and 9.6% respectively in 2021 and 2022. Prices in 1Q2023 also climbed 5.9% q-o-q. Despite recent hikes in the additional buyer’s stamp duty (ABSD), Goh notes that demand for the strata bungalows at Vanda Crescent is expected to remain unaffected as foreigners are not allowed to acquire these properties, and ABSD is not required for Singapore citizens who are first-time residential property buyers.The four strata bungalows are about 500m from Sixth Avenue MRT Station on the Downtown Line, and provides easy access to main roads such as Dunearn Road and the Pan-Island Expressway. These properties are also situated near notable schools including Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior College, and Hwa Chong Institution.

Four freehold strata bungalows located off Dunearn Road in District 11’s Bukit Timah area will be launched for sale via private treaty on May 3. Held by a single owner, the guide price for the 12,264 sq ft property is set at $33 million, or $2,690 psf on the land area.

Tengah EC is a new executive condominium located in the heart Tengah EC of Tengah town, with numerous green features and focus on sustainability. The project is slated to be completed by the end of 2013 and will offer Singaporeans exclusive access and convenience to the city through four major public transport stations and green spaces.

Given its prime District 11 location near Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) areas, this sale represents a “rare opportunity” for a buyer to acquire four freehold strata bungalows that are nestled within an exclusive private landed residential enclave.

Each bungalow offers five en suite bedrooms, their own lap pool, and a basement level. The houses also share a common compound and are currently rented out.

Tracy Goh, head of investment and collective sales at PropNex, states that the sale is “particularly suited for multi-generation families who wish to live together while having their own space and privacy.”

Since 2010, there have been only 14 resale transactions in the area, Goh notes, which includes a nearby bungalow that was sold for $21.5 million ($2,431 psf) in September 2022. This further reaffirms the consistent price growth of freehold landed homes in Singapore.

In 2021 and 2022, prices rose by 13.3% and 9.6% respectively. While in 1Q2023, prices increased by 5.9% q-o-q. Going forward, Goh says that limited supply of landed homes in Singapore is expected to support prices amid continuing demand.

Although recent hikes of the additional buyer’s stamp duty (ABSD) will take effect on April 27, Goh expects demand for these particular bungalows to be unaffected. Foreigners are not permitted to acquire landed homes on mainland Singapore and – since the bungalows will be sold under a single title – ABSD will not be required if the purchaser is a Singapore citizen and first-time residential property buyer.

The four strata bungalows are about 500m from Sixth Avenue MRT Station on the Downtown Line and are close to main roads such as Dunearn Road and the Pan-Island Expressway. Notable schools in the area include Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior College, and Hwa Chong Institution.