A 99-year leasehold semi-detached home in the coveted Kew Vale estate is set to be auctioned off by SRI on March 15 with a price guide of $3.65 million. Located in District 16, the three-storey property sits on a spacious 3,034 sq ft corner plot on Kew Heights. The current guide price equates to a land rate of $1,203 psf, making it a highly attractive and sought-after investment opportunity.
Previously a mortgagee sale, this will be the first time the property is being offered for auction. Prospective buyers can expect to acquire the property with vacant possession. Spanning a total floor area of 4,436 sq ft, the house boasts six bedrooms, a family area, and a storeroom spread across the upper two levels. The ground level comprises a spacious living hall with a stunning double-volume ceiling, an adjoining dining area, a well-equipped kitchen, and a helper’s room. The house also comes with a wide car porch and a backyard area.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, the property offers the potential for converting some of the open areas into additional bedrooms, making it a perfect fit for multi-generational or extended families. In terms of land rate, the guide price of the property at $1,203 psf is one of the most competitive in the area. Recent URA caveats show that the property was last transacted in November 2021 at $3.19 million, or $1,051 psf.
Over the past year, two other 99-year leasehold properties in the Kew Vale estate were sold. The latest transaction was in February, for a three-storey semi-detached house on Kew Heights that changed hands for $3.35 million. As for a three-storey terraced home on Kew Drive, it was sold for $3.26 million in January, reflecting a land rate of $1,417 psf.
Recent trends illustrate a substantial increase in the prices of 99-year leasehold semi-detached properties in the Kew Vale estate. In 2023 and 2024, there were seven transactions of semi-detached homes at an average land rate of $1,213 psf, which is significantly higher than the average land rate of $1,002 psf for the previous transactions at the estate from 2021 to 2022.
What’s more, the Kew Vale estate is also well-connected, with easy access to major motorways such as the East Coast Parkway (ECP) via Bayshore Road. Its accessibility will be further enhanced with the opening of the upcoming Bedok South MRT Station on the Thomson-East Coast Line in 2H2026.
Moreover, the property’s prime location offers the best of both worlds, being near the bustling city yet retaining the charm of a tranquil neighbourhood. Various schools are also situated near the house, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
Don’t miss the chance to own this highly attractive investment opportunity at Kew Vale. Contact SRI now for more information and to register for the upcoming auction on March 15.
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