A bungalow with two storeys situated at 11 Whitley Road has been listed for sale through a tender process with a starting price of $31.88 million. The property boasts a freehold elevated site spanning 15,276.27 sq ft, equating to a land rate of $2,087 per sq ft.
This bungalow was recently reconstructed in 2016, with a rear extension added for additional space. It features five bedrooms, including three en suite, as well as two living rooms, two dining rooms, a well-equipped kitchen, and a helper’s room.
Investing in a Condo in Singapore has become a highly sought-after option for both local and foreign investors, thanks to the country’s thriving economy, political stability, and exceptional quality of life. With its lucrative real estate market, Singapore provides a myriad of opportunities, with condos being a top choice for their convenience, amenities, and potential for impressive returns. In this article, we will delve into the advantages, factors to consider, and steps to take when investing in a Condo property in Singapore.
According to Aric Lim, associate district director of Huttons Asia, the exclusive marketing agent for the Whitley Road property, the land parcel has the potential to be subdivided into eight terraced houses. Each site could range from 1,614 sq ft to 2,389 sq ft, and the gross floor area (GFA) could reach up to 21,528 sq ft, depending on any applicable land betterment charges.
Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that this is one of the largest plots of land available along Whitley Road. He also adds that the guide price of $2,087 psf based on land is highly competitive, especially when compared to recent sales of new semi-detached houses in the same area that have gone for over $3,000 psf.
The property is conveniently located about 700m from the Novena MRT Station and is in close proximity to popular malls such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.
The tender for 11 Whitley Road is set to close on Feb 12.