The first sentence of the article is about a 99-year leasehold semi-detached house that will be auctioned by SRI on March 15 with a guide price of $3.65 million. The property, situated on Kew Heights in District 16, stands on a corner plot of 3,034 sq ft and is valued at a land rate of $1,203 psf.
The three-storey house, being a mortgagee sale, is up for auction for the first time. Possessing vacant possession, the property is ideal for families looking for a new home.
Spread over a land area of 4,436 sq ft, the house comprises six bedrooms, a family area, a storeroom, a car porch, and a backyard. The ground level boasts a living hall with a double-volume ceiling, a dining area, a kitchen, and a helper’s room.
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Mok Sze Sze, managing partner of auctions and sales at SRI, suggests potential buyers to consider converting some of the open areas into additional bedrooms for extended or multi-generational families. He also states that the guide price of $1,203 psf is comparatively low in the area.
Recent transactions of two other 99-year leasehold landed properties in the Kew Vale estate have been priced at $3.35 million and $3.26 million respectively. The first property is a semi-detached house along Kew Heights with a land area of 2,396 sq ft and a land rate of $1,398 psf. The second property is a terraced house along Kew Drive with a land area of 2,300 sq ft and a land rate of $1,417 psf.
The prices of 99-year leasehold semi-detached houses in the Kew Vale estate have been on the rise in the past few years. Seven such properties were sold in 2023 and 2024 at an average land rate of $1,213 psf, an increase from the average land rate of $1,002 psf across seven transactions in 2021 and 2022.
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The area is well-connected to major motorways like East Coast Parkway (ECP) and is located near the upcoming Bedok South MRT Station on the Thompson-East Coast Line, which is set to open in 2026. Furthermore, several schools, such as Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary, are situated near the property.
Recent sale transactions for properties in Kew Vale can be viewed on Ask Buddy. Additionally, URA Realis provides data for comparative analysis.