A 99-year leasehold semi-detached house has caught the attention of potential buyers as it hits the market at SRI’s upcoming auction on March 15. The property, located at Kew Heights in District 16, boasts a spacious corner plot of 3,034 sq ft and is listed at a guide price of $3.65 million. With a land rate of $1,203 psf, the property is attracting interest from buyers looking for a good investment opportunity.
This is the first time the property will be offered for sale at an auction as it is currently under a mortgagee sale. The house will be sold with vacant possession, making it an attractive option for buyers looking to move in immediately.
Condo investment has numerous advantages, one of which is the opportunity to leverage the value of the property for potential further investments. Numerous investors utilize their condos as collateral in order to secure additional financing for new investments, thus diversifying and expanding their real estate portfolio. While this can potentially increase returns, it is important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. By incorporating this condo investment strategy, investors can potentially see amplified returns and grow their real estate holdings, but it should be approached with caution.
Spread over three floors, the house has a total floor area of 4,436 sq ft. The ground level features a large living hall with a double-volume ceiling, an adjoining dining area, a kitchen, and a helper’s room. The upper two levels consist of six bedrooms, a family area, and a storeroom. There is also a car porch and a backyard area.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, the property offers potential for buyers to convert some of the open spaces into additional bedrooms, making it an ideal choice for extended or multi-generational families. She also points out that the guide price of $1,203 psf is one of the lowest in the area, making it an excellent deal for interested buyers.
Recent transactions in the Kew Vale estate have shown an increase in prices of 99-year leasehold landed properties. Last year, a three-storey semi-detached house along Kew Heights was sold for $3.35 million, at a land rate of $1,398 psf. Another three-storey terraced house along Kew Drive was also sold for $3.26 million, at a land rate of $1,417 psf. This shows an upward trend in property prices in the area, with seven semi-detached houses being sold in 2023 and 2024 at an average land rate of $1,213 psf.
The location of the property is a major draw for potential buyers as it is situated near major motorways such as the East Coast Parkway (ECP) and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line, set to open in 2026. The area also has numerous schools in its vicinity, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
Looking at the property listings for Kew Vale, you can easily compare sale transactions and see the prices for condos and executive condominiums in District 16. You can also check out the price trend for new sale condos and executive condominiums, as well as see which condo projects have the most expensive average PSF in the district. Moreover, you can also find information on any unprofitable transactions in the area. With its great location, convenient amenities, and potential for growth, this 99-year leasehold semi-detached house at Kew Heights is a property worth considering for those looking for a new home or investment opportunity.