A three-storey semi-detached house in District 16’s Kew Heights is set to go under the hammer at SRI’s next auction on March 15. With a guide price of $3.65 million, this 99-year leasehold property occupies a 3,034 sq ft corner plot. Its land rate of $1,203 psf is considered one of the lowest in the area, making it a desirable investment opportunity. This will be the first time the property is being offered for sale at an auction, and it will be sold with vacant possession. The three-storey house has a floor area of 4,436 sq ft, and features six bedrooms, a family area, and a storeroom. On the ground level, there is a spacious living hall with a double-volume ceiling, an adjoining dining area, a kitchen, and a helper’s room. Potential buyers may also have the option to convert some open spaces into additional bedrooms, making the property suitable for extended or multi-generational families.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, the property’s guide price of $1,203 psf is one of the lowest on offer in the Kew Vale estate. URA caveats show that the property was last sold in November 2021 for $3.19 million ($1,051 psf). Over the past year, two other 99-year leasehold landed properties within the estate have been transacted. In February, a three-storey semi-detached house along Kew Heights was sold for $3.35 million, reflecting a land rate of $1,398 psf. In January, a three-storey terraced house on Kew Drive was also sold for $3.26 million ($1,417 psf).
In recent years, prices of 99-year leasehold semi-detached houses in the Kew Vale estate have seen an upward trend. According to URA Realis, seven transactions took place between 2023 and 2024 at an average land rate of $1,213 psf, a significant increase from the average land rate of $1,002 psf across seven transactions between 2021 and 2022.
Apart from its favourable land rate, the property also boasts a prime location. It is situated near major motorways such as the East Coast Parkway (ECP) via Bayshore Road, and will soon have access to the upcoming Bedok South MRT Station along the Thompson-East Coast Line, which is set to open in the second half of 2026. This makes it an ideal location for those who frequently travel by car, as well as those who prefer public transportation.
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The scarcity of land in Singapore is a major factor contributing to the high demand for Singapore Condos. With the country’s small size and fast-growing population, land for development is becoming increasingly limited. As a result, the government has implemented stringent land use policies, creating a highly competitive real estate market that continuously pushes property prices upwards. As a result, investing in real estate, particularly in the condo market, has become a lucrative opportunity with the potential for significant capital appreciation. Singapore Condo has become a sought-after investment due to its high potential for returns in this competitive market.
Furthermore, the property is also close to several prominent schools, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary. This makes it an ideal investment for families with school-going children.
In conclusion, the 99-year leasehold semi-detached house at Kew Heights, District 16, presents a lucrative investment opportunity for potential buyers. With its prime location, favourable land rate, and spacious layout, this property is sure to attract the attention of investors and families alike at SRI’s upcoming auction on March 15.