SINGAPORE (EDGEPROP) – PropNex Realty has brokered the sale of a freehold bungalow in Clifton Vale in the Braddell Heights estate for $19 million. According to a press release from the agency, the buyer is ABN Holding, a local developer.
The single-storey bungalow sits on a 15,705 sq ft plot, hence the sale price translates to about $1,210 psf on the land area. The property had been put up for sale in December 2022 with a guide price of $23 million. That tender closed on Jan 18.
The property is close to Lorong Chuan MRT Station on the Circle Line, and it is 1km from St Gabriel’s Primary School and Yangzheng Primary School. Other nearby schools include Cedar Primary, Maris Stella High School, Kuo Chuan Presbyterian Primary, and St Andrew’s Junior School.
“The Braddell Heights estate is a private landed residential enclave which is popular among home buyers owing to its exclusivity and tranquil living environment. In particular, homes in Clifton Vale are rarely put on the market,” says Henry Benjamin Lim, head of good class bungalows and prestige landed at PropNex.
He adds that the new owner might “sub-divide and redevelop the freehold plot into three detached homes” subject to approvals. Since the site is elevated, the new development would be able to enjoy views of the surrounding landed estate.
“Landed private homes continue to be among the most coveted real estate properties in Singapore due to their scarcity, exclusivity and prestige. Freehold properties are also seen to be a good store of value,” says Lim. “Given the steady demand for such homes, we expect landed home prices to remain resilient this year.”
source: edgeprop