February 08, 2023
8 February 2023, SINGAPORE – PropNex Realty, the largest real estate agency in Singapore is pleased to announce that it has brokered the sale of a freehold bungalow in Clifton Vale in the Braddell Heights estate. The single-storey bungalow has been sold for $19 million via tender to ABN Holding Pte. Ltd. The sale price of $19 million translates to about $1,210 psf based on a land area of around 15,705 sq ft.
Clifton Vale Landed Property | Source: PropNex
The tender for the sale of the property was launched on 19 December 2022 with a guide price of $23 million, and the tender closing date was on 18 January 2023. Under the URA Master Plan 2019, the freehold site is zoned for residential use and is within an area designated for 2-storey bungalow landed housing.
Henry Benjamin Lim, Head of Good Class Bungalows and Prestige Landed at PropNex, said, “The Braddell Heights estate is a private landed residential enclave which is a popular among home buyers owing to its exclusivity and tranquil living environment. In particular, homes in Clifton Vale are rarely put on the market. The successful buyer of the site can sub-divide and redevelop the freehold plot into three detached homes, subject to relevant approvals. Being on an elevated site, the future homes to be built on the plot can potentially enjoy good views of the surrounding areas.”
The property 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 a short distance 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.
Mr Lim added, “Landed private homes continue to be among the most coveted real estate properties in Singapore due to their scarcity, exclusivity and prestige. Freehold properties are also seen to be a good store of value - retaining their value over a period of time and ideal to be handed down to future generations. According to URA statistics, private landed home prices have climbed by 9.6% in 2022 after rising by 13.3% in 2021. Given the steady demand for such homes, we expect landed home prices to remain resilient this year.”
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