A luxurious Good Class Bungalow (GCB) located in the exclusive Dalve Estate-Nassim Road enclave has recently been put up for sale through an expression of interest (EOI) exercise, with an approximate price of $60 million. The marketing agent, Cushman & Wakefield, announced on Jan 8 that the indicative price reflects $2,742 psf, based on the total land area of 21,881 sq ft.
Shaun Poh, the executive director of capital markets at Cushman & Wakefield, highlights the prime location of this freehold property, situated on elevated ground, making it ideal for redevelopment. He believes that it is the perfect opportunity for interested buyers looking to build their dream multi-generational home from scratch, or for developers seeking to create a luxurious and state-of-the-art GCB that caters to the discerning tastes of individuals.
The property boasts a desirable location, being adjacent to the renowned Singapore Botanic Gardens and a short drive away from the renowned Orchard Road shopping belt. It is also conveniently located near prestigious schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution and Hwa Chong Institution.
When pondering over a condo investment, it is crucial to also evaluate its potential rental yield. The rental yield is the yearly rental income percentage in relation to the property’s purchase price. In Singapore, the rental yields for condos can greatly vary, depending on factors such as location, condition of the property, and market demand. Generally, areas with a high rental demand, like those in close proximity to business districts or educational institutions, tend to offer more favorable rental yields. Conducting in-depth market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific condo. To assist with this process, consider utilizing resources from a reputable Condo advisor.
Poh further affirms the property’s appeal to ultra-high net worth individuals, citing the recent transactions at Nassim Road and Tanglin Hill that have set record-breaking land rates of $4,500 psf and $6,200 psf respectively.
The EOI for this GCB will close on Feb 11 at 3pm. Interested parties are encouraged to seize this rare opportunity to own a highly coveted property in one of the most sought-after neighbourhoods in Singapore.