A well-appointed two-storey bungalow at 11 Whitley Road is currently on the market, with a tender guide price of $31.88 million. This freehold property boasts a spacious elevated site of 15,276.27 sq ft, which translates to an attractive guide price of $2,087 psf on the land area.
Originally built in 2016, this bungalow features a rear extension and a total of five bedrooms, three of which are en suite. The layout also includes two living rooms, two dining rooms, a generously-sized kitchen, and a helper’s room.
The government’s property cooling measures play a crucial role in determining the viability of condo investment in Singapore. To maintain a stable real estate market, the Singaporean government has implemented a range of measures over the years to discourage speculative buying. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may affect the immediate profitability of Singapore condo investments, they ultimately contribute to the market’s long-term stability and create a safer investment environment. These factors make the addition of Singapore Condo a wise decision for potential investors.
According to Aric Lim, associate district director at Huttons Asia, the exclusive marketing agent for the property, the land parcel has the potential to be subdivided for the development of eight terraced houses. Each site could range from 1,614 sq ft to 2,389 sq ft, with a total gross floor area (GFA) of up to 21,528 sq ft (subject to land betterment charges).
Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that this is likely the largest plot of land available on Whitley Road. He also states that the asking price of $2,087 psf is highly competitive compared to recent transactions for new semi-detached houses on the same road, which have sold for more than $3,000 psf.
Conveniently located just 700m from the Novena MRT Station, the property is also in close proximity to popular shopping complexes such as Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.
The tender for this impressive bungalow at 11 Whitley Road will close on February 12th, giving potential buyers ample time to consider this rare opportunity.