Bungalow In Clementi Fetched Over $10 Million In Estimated Resale Gains In February

Slight uptick in landed homes transactions
Based on URA Realis caveat data, there were more than 90 landed homes transacted on the resale market in February 2023, with a combined value of $516 million – picking up from the quieter resale activity in January where fewer than 80 landed homes were transacted for a combined value of less than $430 million. Upon analysis of each transaction and their respective gains, most deals had been profitable. In a ranking by gross profit garnered, the list of top 10 transactions consisted of landed homes located around the island in landed estates at Marine Parade, Bishan and Bukit Timah. The top 10 landed transactions had gains ranging from about $4.2 million to $10.2 million

Top landed transaction with highest gains

The top landed transaction was for a detached house along Sunset Square which fetched an estimated profit of $10.15 million from its last caveated transaction. The property was sold for $12.8 million, up by nearly $10.2 million from the last caveat lodged in July 2004 – this reflects an annualised profit of 8.8% over a period of close to 19 years. The 2-storey freehold detached house sits on a sprawling land plot of more than 6,000 sq ft. It is tucked away in a quiet corner of the Sunset Way landed estate in the suburbs of Clementi. Despite being located further from commercial amenities, the estate offers its residents a quiet respite from the hustle and bustle of city living.

Top landed transaction with highest gains (Core Central Region)
In February, the best performing landed transaction in the city centre was for a 3-storey detached house along Coronation Road in Bukit Timah in District 10. The property was sold for over $17.08 million, with its last caveat being lodged in April 2021. The sale price is up by $8.88 million from the previous caveated price, with a whopping annualised profit of 52.1% over a short span of less than 2 years. The property is located near other exclusive landed estates in Holland-Bukit Timah and Good Class Bungalow (GCB) neighbourhoods of Victoria Park, Bin Tong Park and Rebecca Park.

The next top landed transaction in the city centre was for a waterfront villa located along Coral Island which was sold for over $36.5 million, with its last caveat being lodged in March 2013. The sale price is up by $8.5 million from the previous caveated price, marking an annualised profit of 2.7% over a span of 10 years. The property is located within Sentosa Cove, on the man-made Coral Island. Each waterfront villa on Coral Island has a private yacht berth with direct waterfront access, offering its residents the epitome of luxurious waterfront living – a rarity in land-scarce Singapore. Residents are minutes away from the integrated marina, ONE?15 Marina Club, Resorts World Sentosa and other attractions on Sentosa Island.

Top landed transaction with highest gains (Rest of Central Region)
The top landed transaction in the city fringe in February was for a sale of a freehold terrace house in Jalan Kampong Chantek in District 21 (Bukit Timah). The property was sold for $20.5 million, up by nearly $8.27 million from the last caveat lodged in July 2016 – this reflects an annualised profit of 8.2% with less than 7 years’ holding period. The 2-storey corner detached house - is located within the prestigious Swiss Club Road GCB area - had recently undergone redevelopment.

Another profitable transaction in the city fringe was for a detached house along Taman Permata, located in the Yew Lian Park landed estate in District 20 (Bishan, Marymount). The freehold bungalow was sold for $8.7 million, which represents an estimated gain of $5.5 million from its last caveat lodged in February 2007. With a holding period of 16 years, it translates to an annualised gain of 6.5% per year. The property is located a stone’s throw from the Upper Thomson Road commercial settlement of eateries and amenities, known for their cafes and supper hotspots. The property is next to the MacRitchie Reservoir Central Catchment forest reserve which is popular amongst nature enthusiasts and hikers.

Top landed transaction with highest gains (Outside Central Region)
The second most profitable deal in the suburbs in February was for a 3-storey detached house located along Jalan Senang in District 14 (Bedok) in the serene Kembangan landed estate. The freehold property was sold for $8 million, up by $5.55 million from the last caveat lodged in April 2004 – this reflects an annualised profit of 6.5% over a span of nearly 19 years. The detached house sits on a regular plot with a land size of over 5,000 sq ft, which reflects a unit price of $1,600 psf on land area. The property is near the Kembangan MRT station on the East West Line.

If you are looking for high-end or luxury landed homes in Singapore, contact PropNex’s GCB Prestige Landed Services team today for buying opportunities and insights on the landed residential property market.

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