Buyers Remaining Resolute in Their AspirationsIn Singapore’s high-rise environment, the desirability of landed properties remains strong and resilient. According to Chia, buyers are still actively seeking and striving to acquire them. This sale presents a great opportunity to do so, as the property sits in a highly coveted and exclusive area near Nassim Road, a Good Class Bungalow area.

A record land rate was recently achieved in the neighbourhood when three GCBs at 42, 42A, and 42B Nassim Road were sold for about $4,500 psf in April this year. Cuscaden Peak Investments sold the trio for a total of $206.7 million.

With buyers still showcasing a consistent drive to acquire landed properties in Singapore’s vibrant housing market, Knight Frank Singapore is now offering an exciting opportunity to buy a freehold bungalow in prime District 10. Situated on 7,386 sq ft of land on Fernhill Close, this two-storey property can be developed into a brand new luxurious three-storey bungalow, niche semi-detached or terrace houses, subject to the relevant authorities’ approval.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, suggested that the property would also be attractive to large multi-generational or extended families looking to build a new home.

Buyers can use EdgeProp’s Landlens tool to better understand the trends and price movements of landed houses in this area, while the tender for the bungalow closes on July 25.

The minimum asking price is $2,978 psf, and Chia highlighted that keen interest from homebuyers, investors, and developers was likely due to the scarcity of landed homes available for sale in the sought-after location. With a total of S$1.4 billion worth of landed homes transacted during the first quarter of 2021 – a 28% expansion from the previous quarter – the buying sentiment in the landed market remains notably buoyant.

This sale is a prime example of this, supported by increasing affluence among Singaporeans and new high-net-worth clients. The exclusiveness of the neighbourhood is accentuated by its proximity to the Nassim Road GCB area and other landed homes within the Fernhill estate.

Chia concluded: “We anticipate keen interest from homebuyers, investors and developers, given the prime location of the property, its coveted address, and the scarcity of landed homes available for sale in this location.”

The master developer is Capitaland, one of the largest developers in the world. The JCube Residence project encompasses a variety of uses and will be developed in phases. It will cater to the needs of all segments of the population, from millennials to families. The development will also have plenty of public spaces and amenities for the community to enjoy.

A freehold bungalow located in prime District 10, on Fernhill Close, has been put up for sale for more than $22 million. The two-storey property is an exciting opportunity for buyers and investors looking to acquire a rare landed property in Singapore’s high-rise environment.

With a minimum asking price of $2,978 psf, the property sits on 7,386 sq ft of land close to the Nassim Road GCB area, and at the end of a cul-de-sac with a wide frontage.

The exclusiveness of the neighbourhood is further enhanced by its proximity to other landed homes within the Fernhill estate. Possibilities of redevelopment are endless, and a brand new luxurious three-storey bungalow, niche semi-detached or terrace houses could be built subject to approval.

Recent land deals in the neighbourhood have achieved a record land rate, including the sale of the GCB trio at 42, 42A and 42B Nassim Road for $4,500 psf and a total of $206.7 million in April of this year.

The buying sentiment in the landed market remains strong, with S$1.4 billion worth of landed homes being transacted during the first quarter of 2021 – a 28% expansion from the previous quarter. With this being the case, Chia suggests that keen interest is likely from home buyers, investors and developers.

Those interested should take advantage of EdgeProp’s Landlens tool to better understand the price movements and trends of landed houses in the area. The tender for the sale of the bungalow, meanwhile, closes on July 25.