Casa Fidelio, a cluster development located on Fidelio Street in District 15, will soon be up for collective sale. The property, consisting of seven strata-titled landed units, has a reserve price of $24 million and will be launched for tender on March 20 by PropNex Realty, the appointed marketing agent.
According to PropNex, this is the first attempt at an en bloc sale for the owners of Casa Fidelio, which was completed in 1990. The land area of the development is approximately 17,293 sq ft and is zoned for residential use, with a two-storey mixed-landed housing designation.
Casa Fidelio is located in a landed housing enclave, and is close to various amenities including East Coast Park, dining options and shopping malls such as Siglap Village, Siglap Centre and Bedok Mall. More amenities are expected to be available with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station.
Nearby schools include Opera Estate Primary School, St Stephen’s School and Victoria School. The site is suitable for redevelopment into luxury cluster houses, landed terraces or an expansive standalone property, according to PropNex. The regular shape and ample size of the land provides flexibility for developers to design a project that meets both functionality and aesthetic appeal, and caters to the demand for landed homes in the East Coast area, says Laurence Wong, PropNex’s head of collective sales.
In Singapore, investing in condos requires careful consideration of the government’s property cooling measures. Over time, the Singaporean government has implemented several measures to regulate speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may initially affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment. This is particularly important for potential investors looking at Singapore Projects.
Recent caveats lodged show that the most recent transaction at Casa Fidelio was in September 2021, where a unit with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). In terms of nearby transactions, only two freehold landed homes on Fidelio Street were sold in 2024 – a terrace house with a land area of 3,423 sq ft that transacted for $9 million ($2,629 psf on the land) and a semi-detached house on 2,035 sq ft of land that fetched $5.38 million ($2,643 psf on the land).
PropNex also highlights that a recently-built corner terrace on Jalan Bangsawan, just 400m away from Casa Fidelio, was transacted for $3,541 psf in December 2024. According to the agency, this indicates the potential for strong demand in the area.
The tender for Casa Fidelio will close on April 22 at 3pm. Interested parties can check out the latest listings for Casa Fidelio properties on Ask Buddy. Additionally, you can also find information on the most unprofitable landed transactions and condo projects in District 15, as well as the rental yield for Casa Fidelio.