Casa Fidelio, a landed development located on Fidelio Street in District 15, will be put up for collective sale by tender on March 20. The marketing agent, PropNex Realty, has stated that the reserve price for the development is $24 million, which works out to a land rate of $1,388 psf. This is the first attempt by the owners of Casa Fidelio to launch an en bloc sale.
Built in 1990, Casa Fidelio is a strata-titled landed development consisting of seven cluster terrace houses. It sits on a land area of about 17,293 sq ft, which is zoned for residential use and designated for two-storey mixed-landed housing.
The development is located in a landed housing enclave, just a short drive away from various amenities such as East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, and shopping malls like Siglap Village, Siglap Centre and Bedok Mall.
More amenities are also expected to be available with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station. This project will include a community club with an eating house, supermarket and outpatient healthcare facility.
The surrounding schools include Opera Estate Primary School, St Stephen’s School and Victoria School.
According to PropNex, the site could potentially be redeveloped into luxurious cluster houses, landed terraces, or a sizeable standalone property. “The regular shape and ample size of the site offer developers the flexibility to design a project that serves both functional and aesthetic purposes. It is well-positioned for a transformation into a modern residential development that caters to the demand for landed homes in the East Coast area,” said Laurence Wong, the head of collective sales at PropNex.
Based on the caveats lodged, the most recent transaction at Casa Fidelio was in September 2021, when a unit with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). PropNex also pointed out that in 2024, only two freehold landed homes on Fidelio Street were sold: A terrace house which occupied a land area of 3,423 sq ft, was transacted at $9 million ($2,629 psf on the land area), and a semi-detached house on 2,035 sq ft of land was sold for $5.38 million ($2,643 psf on the land area). “Notably, less than 400m away, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was transacted at $3,541 psf in December 2024,” the agency added.
The tender for Casa Fidelio will close on April 22 at 3pm. To find out more, check out the latest listings for Casa Fidelio properties on AskBuddy.
It is essential for international investors to have a thorough understanding of the rules and limitations surrounding property ownership in Singapore. Unlike landed properties, purchasing a condo