SINGAPORE (EDGEPROP) - Four freehold strata bungalows in Vanda Crescent will be launched for sale on May 3 via private treaty, according to marketing agent PropNex Realty in a May 2 press release. The guide price of the properties is $33 million, or $2,690 psf on the land area.

The properties, held by a single owner, are located off Dunearn Road in the Bukit Timah area in prime District 11. The properties are located near the Eng Neo Avenue and Raffles Park Good Class Bungalow (GCB) areas.

The four bungalows sit on a site spanning 12,264 sq ft and have a combined built-up area of 19,353 sq ft. They were built in 2009, with the owner looking to sell them jointly. All four bungalows are currently rented out and will be sold with tenancies.

Each bungalow has five en suite bedrooms along with its own lap pool and basement level. The houses share a common compound.

The sale represents a “rare opportunity” for a buyer to acquire four freehold strata bungalows that are nestled within an exclusive private landed residential enclave, says Tracy Goh, head of investment and collective sales at PropNex. “This portfolio of bungalows is particularly suited for multi-generation families who wish to live together while having their own space and privacy,” she adds.

Goh notes 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.

She adds that freehold landed homes in Singapore have consistently seen healthy price growth, rising by 13.3% and 9.6% respectively in 2021 and 2022. In 1Q2023, landed home prices climbed 5.9% q-o-q. “We expect the limited supply of landed homes in Singapore will continue to support prices amid stable demand for such properties,” she says.

Goh notes that the recent hikes of the additional buyer’s stamp duty (ABSD), which took effect on April 27, is not expected to affect demand for the bungalows at Vanda Crescent as foreigners are not permitted to acquire landed homes on mainland Singapore. In addition, as 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.

The four strata bungalows are situated 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. 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.

Check out the latest listings near Vanda Crescent, Dunearn Road, Sixth Avenue MRT Station, Raffles Girls’ Primary School, Methodist Girls’ School (Primary), Nanyang Primary School, Nanyang Girls’ High School, National Junior College, Hwa Chong Institution