December 19, 2022
SINGAPORE, 19 December 2022 – PropNex Realty, the largest real estate agency in Singapore has today announced the launch of a freehold single-storey bungalow in Clifton Vale in the Braddell Heights estate for sale via tender for an indicative price of $23 million. The guide price works out to $1,465 psf based on a land area of about 15,705 sq ft.
The detached house sits on an elevated plot, with a wide frontage to Clifton Vale in District 13. The freehold site is zoned residential under the URA Master Plan 2019 and is within an area designated for 2-storey bungalow landed housing.
Braddell Heights estate - a popular and sought-after landed housing estate in the north east region of Singapore - is an exclusive private residential enclave comprising mainly terrace houses, semi-detached and large detached landed homes.
Henry Benjamin Lim, Head of Good Class Bungalows and Prestige Landed at PropNex, said, “Landed homes in Clifton Vale are tightly-held and there have only been five transactions done since 2012 - with three deals sealed in 2021 and none this year. The availability of freehold landed homes for sale in this locale is limited – particularly detached houses - and this is a rare buying opportunity for both home owners looking to buy for own stay as well as developers who are planning to redevelop the plot for sale. Subject to relevant approvals, the site can be sub-divided into three plots (of about 5,200 sq ft each) with a detached home to be built on each plot. Apart from its sizable land area, another attractive attribute is that it is one of the most elevated sites in Braddell Heights and the property has the potential to command good views of the surrounding landed housing area and greenery.”
The bungalow is about 640m from the Lorong Chuan MRT station on the Circle Line and is situated within 1-km from St. Gabriel’s Primary School and Yangzheng Primary School. Meanwhile, schools that are about 1-km and 2-km from the property include Cedar Primary, Maris Stella High School, Kuo Chuan Presbyterian Primary, St. Andrew’s Junior School, CHIJ Our Lady of Good Counsel, Raffles Institution, Raffles Girls’ School (Secondary), Catholic High School, and the Australian International School.
It is also not far from retail and F&B amenities such as the Woodleigh Village Hawker Centre, Serangoon Garden Market, Chomp Chomp Food Centre, Nex shopping mall, The Poiz and Junction 8. Given the easy access to major roads and expressways, the property is just a 10-minute drive to Orchard Road and a 15-minute drive to the central business district.
Mr Lim added, “We expect developers to be keen on this site for redevelopment in view of the limited supply of brand-new detached houses in the area and growing demand for larger homes among families. In addition, the unit price of $1,465 psf based on the guide price on land area is also attractive compared to asking prices of up to $2,000 psf for some landed homes in the vicinity. In land-scarce Singapore, freehold landed residential properties will remain one of the most desirable assets owing to their limited supply, their exclusivity, and their reputation as a better store of value over time.”
The tender will close at 12pm on 18 January 2023.
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