SRI’s upcoming auction on March 15 will feature a 99-year leasehold semi-detached house with a guide price of $3.65 million. The property, located in the popular Kew Heights area of District 16, occupies a 3,034 sq ft corner plot. The land rate for this property is $1,203 psf, making it a highly sought-after investment opportunity.
This mortgagee sale marks the first time that the property will be offered for auction. Interested buyers will have the chance to acquire the property with vacant possession. The three-storey house has a total floor area of 4,436 sq ft, and is equipped with six bedrooms, a family area, and a storeroom. It also includes a car porch and backyard area.
The ground level features a spacious living hall with a double-volume ceiling, an adjoining dining area, a well-equipped kitchen, and a helper’s room. According to Mok Sze Sze, the managing partner of auctions and sales at SRI, potential buyers can easily convert some of the open areas into additional bedrooms, making this property perfect for extended or multi-generational families.
Furthermore, the guide price for this property offers great value, with a land rate of $1,203 psf being one of the lowest in the area. Records from URA show that the property was last sold in November 2021 for $3.19 million ($1,051 psf). In the past year, two other similar 99-year leasehold properties in the Kew Vale estate have been sold, including a three-storey semi-detached house along Kew Heights for $3.35 million, and a three-storey terraced house along Kew Drive for $3.26 million.
It is worth noting that the prices of 99-year leasehold properties in the Kew Vale estate have been on the rise in recent years. Seven semi-detached houses were sold in 2023 and 2024 at an average land rate of $1,213 psf, compared to the average of $1,002 psf across seven transactions between 2021 and 2022.
The property’s location in Kew Vale offers easy access to major motorways such as East Coast Parkway (ECP) via Bayshore Road, and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line, scheduled to open in the second half of 2026. Families with school-going children will also benefit from the proximity to reputable schools such as Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
Investing in Singapore as a foreigner requires a thorough understanding of the country’s property ownership regulations. The policies for owning landed properties are stringent, but purchasing condos is generally more feasible for foreign investors. However, they must still abide by the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for first-time buyers. Despite this additional expense, Singapore’s real estate market continues to be an appealing choice for foreign buyers, thanks to its stability and potential for growth, especially in the condominium sector. Therefore, for those interested in investing in Singapore’s real estate market, condos present a lucrative opportunity worth considering.
Don’t miss this opportunity to own a highly sought-after property in the popular Kew Vale estate. Check out the latest listings for Kew Vale properties and compare sale transactions. You can also use Ask Buddy to get more information on the property, or view sale transactions and price trends in the area.