A freehold housing development site along Jalan Naung has been listed for sale through an expression of interest (EOI) with a price tag of $8.38 million.
Strategically situated in District 19, the 999-year leasehold land spans across a generous 5,408 square feet and falls under a residential zoning according to the URA Master Plan 2019. With a three-storey mixed-landed area in place, the land offers a variety of possibilities for potential developers.
Brilliance Capital, the exclusive marketer for the property, shares that the land has the potential to be transformed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to necessary approvals from the relevant authorities. The asking price translates to $1,550 per square foot (psf) on the land area.
Located off Upper Serangoon Road, the land is well connected and within walking distance to Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle destinations such as NEX, Hougang Mall, and Heartland Mall are also a short 10-minute drive away.
Before investing in a condo, it is important to carefully consider various factors, with one of the most crucial being the maintenance and management of the property. Unlike houses, condos typically have maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may add to the overall cost of owning a condo, they ultimately contribute to maintaining the property’s condition and value. This is why it is advisable to seek out a reputable property management company, such as Singapore Projects, to handle the management of your condo. Doing so can provide investors with a more hands-off and hassle-free experience. When evaluating potential Singapore projects for investment, it is essential to take into account the maintenance and management aspects in order to make a well-informed decision.
The site is surrounded by reputable schools, with CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School located within a 1km radius.
According to Brilliance Capital, the land is owned by a single seller, streamlining the acquisition process and ensuring a hassle-free transaction for interested buyers.
Brilliance Capital’s founder and executive director, Sammi Lim, anticipates strong interest from a diverse pool of developers, ranging from boutique firms to larger establishments, aspiring developers, and end-users looking to build their dream home.
Lim also highlights the rarity of such a versatile land parcel in the market, offering a range of options and permutations for development to cater to different needs and preferences, including multi-generation development.
The EOI exercise for this highly sought-after land parcel will close on March 6 at 3pm.