SRI’s upcoming auction on March 15 will feature a 99-year leasehold semi-detached house with a guide price of $3.65 million. Located on Kew Heights in District 16, the three-storey property sits on a corner plot of 3,034 sq ft. The price tag of $3.65 million reflects a land rate of $1,203 psf.
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This will be the first time the property is being offered for sale via auction, as it is currently under mortgagee sale. The house will be sold with vacant possession.
Boasting a floor area of 4,436 sq ft spread over three floors, the property features a living hall with a double-volume ceiling, a dining area, a kitchen, a helper’s room, and a car porch on the ground level. The upper two levels comprise of six bedrooms, a family area, and a storeroom. Additionally, the property also includes a backyard area.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers have the opportunity to convert some of the open areas into additional bedrooms, making it an ideal home for extended or multi-generational families. He also notes that the land rate of $1,203 psf is one of the lowest in the area. Public records show that the property was last sold in November 2021 for $3.19 million ($1,051 psf).
In the past year, two other 99-year leasehold landed properties in the Kew Vale estate have been sold. The most recent transaction was a three-storey semi-detached house along Kew Heights, which sold for $3.35 million in February. The other transaction was a three-storey terraced house on a 2,300 sq ft plot along Kew Drive, which sold for $3.26 million in January.
Prices of 99-year leasehold semi-detached houses in the Kew Vale estate have been on the rise in recent years. According to URA Realis, seven semi-detached houses were sold in 2023 and 2024 at an average land rate of $1,213 psf, up from the average land rate of $1,002 psf across seven transactions from 2021 to 2022.
The property is conveniently located near major roads, such as the East Coast Parkway (ECP) via Bayshore Road, and will also benefit from the upcoming Bedok South MRT Station on the Thompson-East Coast Line, set to open in the second half of 2026.
Several schools are also in close proximity to the property, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.
For more information on the property, check out the latest listings on Kew Vale properties on Ask Buddy. You can also view the sales transactions and prices for properties in Kew Vale and compare the price trends between condominium and executive condominium (EC) properties in District 16. Additionally, you can see which condominium projects have the most expensive average PSF in the district and if there have been any unprofitable transactions in Kew Vale.