A three-storey, 99-year leasehold semi-detached house will be up for auction at SRI on March 15 with a guide price of $3.65 million. Located on Kew Heights in District 16, the corner property occupies a 3,034 sq ft plot and has a land rate of $1,203 psf.
Being a mortgagee sale, this will be the first time the property will be offered for auction. It will be sold with vacant possession and has a total floor area of 4,436 sq ft, spread over three floors. The ground level features a living hall with a double-volume ceiling, an adjoining dining area, a kitchen, and a helper’s room. The upper levels consist of six bedrooms, a family area, and a storeroom. The property also includes a car porch and a backyard area.
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According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers can explore converting some of the open areas into additional bedrooms, which makes the property suitable for extended or multi-generational families. Mok also noted that the guide price of $1,203 psf is one of the lowest in the area when it comes to land rate. 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 99-year leasehold landed properties in the Kew Vale estate were sold. The most recent transaction was for a three-storey semi-detached house on Kew Heights, which fetched $3.35 million in February. This property had a land area of 2,396 sq ft and a land rate of $1,398 psf. In January, a three-storey terraced house on Kew Drive was sold for $3.26 million ($1,417 psf).
The prices of 99-year leasehold semi-detached houses in the Kew Vale estate have seen an increase in recent years. Data from URA Realis shows that seven such properties were sold between 2023 and 2024 at an average land rate of $1,213 psf. This is higher than the average land rate of $1,002 psf for seven transactions in the estate between 2021 and 2022.
Located near major highways such as East Coast Parkway (ECP) via Bayshore Road, the property will also be served by the upcoming Bedok South MRT Station along the Thomson-East Coast Line, which is expected to open in the second half of 2026.
The property is also situated near several schools, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
Interested buyers can check out the latest listings for properties in Kew Vale on Ask Buddy or view the sale transactions for the estate on the same platform. They can also compare the price trends of new sale condos and executive condominiums (ECs) in District 16, as well as check out the most expensive average PSF for condos in the district. Unprofitable transactions within Kew Vale can also be viewed on Ask Buddy.