The tender exercise for the Vanda Crescent strata bungalows closes at 3pm on June 10, 2023.

Four freehold strata bungalows located off Dunearn Road in the Bukit Timah area of District 11 will be put up for sale on May 3 via a private treaty, with a guide price of $33 million, or $2,690 psf on the land area.The properties are located near the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) areas. With the owner looking to sell them jointly, the four bungalows share a common compound and have a combined built-up area of 19,353 sq ft and a land area of 12,264 sq ft.

Each house has five en suite bedrooms and its own lap pool and basement level. The properties are currently rented out and will be sold with tenancies.

Head of Investment and Collective Sales at PropNex, Tracy Goh, said that the sale of these four strata bungalows is a rare opportunity for a buyer to be able to own a landed property in an exclusive private residential enclave. “This portfolio of bungalows is particularly suited for multi-generation families who wish to live together while having their own space and privacy,” she added.

JCube site in Jurong East, JCube Residence Singapore to be redeveloped into 40-storey JCube Condo Residence, with commercial space and connected to numerous amenities. CLD to launch JCube Condo Residence in second half of 2023, with price tag estimated at S$2,000-2,100 psf. Potential new launches in the vicinity to help alleviate housing demand.

Goh noted that since 2010, there have been only 14 resale transactions at the locale, including a nearby bungalow that was sold for $21.5 million ($2,431 psf) in September 2022. Freehold landed homes in Singapore have recorded healthy price growths, as prices increased by 13.3% and 9.6% respectively in 2021 and 2022. In 1Q2023, landed home prices also went up by 5.9% q-o-q.

The properties are about 500m from Sixth Avenue MRT Station on the Downtown Line and has access to main roads such as Dunearn Road and the Pan-Island Expressway. In addition, the vicinity is near schools such as Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior College, and Hwa Chong Institution.

The tender exercise for the Vanda Crescent strata bungalows will close at 3pm on June 10, 2023. Goh commented that the recent hike of the additional buyer’s stamp duty (ABSD), which took effect on April 27, is unlikely to affect demand for the bungalows as foreigners are not allowed tobuy landed homes on mainland Singapore. Moreover, since the bungalows will be sold under a single title, they would not require ABSD if the purchaser is a Singapore citizen and a first-time residential property buyer.

Given the limited supply of landed homes, Goh concluded that prices of such properties are likely to remain supportive. “We expect the limited supply of landed homes in Singapore will continue to support prices amid stable demand for such properties,” she added.