A 99-year leasehold semi-detached house will be up for auction at SRI on March 15 with a guide price of $3.65 million. The property, located on Kew Heights in District 16, sits on a 3,034 sq ft corner plot and has a land rate of $1,203 psf. This will be the first time the house is being offered for sale via auction as it is a mortgagee sale.Upon entering the three-storey house, you will find a double-volume ceiling living hall, an adjoining dining area, a kitchen, and a helper’s room on the ground level. The upper two levels feature six bedrooms, a family area, and a storeroom. Additionally, there is a car porch and backyard area included with the property.For potential buyers, there is the option to convert some of the common spaces into extra bedrooms, making it an ideal property for extended or multi-generational families. According to Mok Sze Sze, managing partner of auctions and sales at SRI, the guide price of $1,203 psf for the property is one of the most competitive rates in the area. URA caveats show that the property was last transacted in November 2021 for $3.19 million.The Kew Vale estate has seen two other 99-year leasehold properties being sold in the past year, with the latest being a three-storey semi-detached house that went for $3.35 million in February and a three-storey terraced house which was sold for $3.26 million in January. These transactions reflect a higher land rate of $1,398 psf and $1,417 psf respectively.Past transactions for 99-year leasehold semi-detached houses in the Kew Vale estate have seen prices increase steadily over the years. Between 2023 and 2024, seven transactions took place at an average land rate of $1,213 psf, which is a significant increase from the average land rate of $1,002 psf for seven transactions between 2021 and 2022.The property is conveniently located near major motorways such as East Coast Parkway (ECP) via Bayshore Road and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line. With its expected completion in 2H2026, this will provide easy access for commuters. Additionally, there are various schools in the vicinity, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
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