A semi-detached house with a 99-year leasehold will be up for auction at the next SRI sale on March 15 with a guide price of $3.65 million. Located on Kew Heights in District 16, the three-storey property sits on a corner plot spanning 3,034 sq ft. The land rate of $1,203 psf is reflected in the price tag of $3.65 million. This is a mortgagee sale and the first time the property will be offered at auction. The house will be sold with vacant possession.
The property features a total floor area of 4,436 sq ft spread over three levels. The ground floor includes a living hall with a double-volume ceiling, an adjoining dining area, a kitchen, and a helper’s room. The upper levels comprise six bedrooms, a family area, and a storeroom. There is also a car porch and a backyard area.
According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers may have the option to convert some of the open spaces into additional bedrooms, making it suitable for extended or multi-generational families. He also notes that compared to the area, the property’s land rate of $1,203 psf is comparatively low. URA caveats show that the property was last sold in November 2021 for $3.19 million, translating to $1,051 psf.
In the past year, two other 99-year leasehold properties within the Kew Vale estate were sold. In February, a three-storey semi-detached house on Kew Heights was sold for $3.35 million. It has a land area of 2,396 sq ft, which works out to a land rate of $1,398 psf. In January, a three-storey terraced house located along Kew Drive was sold for $3.26 million ($1,417 psf).
The prices of 99-year leasehold semi-detached houses in the Kew Vale estate have increased in recent years. According to URA Realis, between 2023 and 2024, seven semi-detached houses were sold at an average land rate of $1,213 psf. This is an increase from the average land rate of $1,002 psf for seven transactions in the estate between 2021 and 2022.
In Singapore, the importance of location cannot be overstated when it comes to real estate investment. Specifically, properties in central areas or near vital amenities such as schools, shopping centers, and public transportation hubs have a higher chance of increasing in value. Prime areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have a track record of consistent growth in property values. The presence of reputable schools and educational institutions in these locations also makes condos highly sought after by families, providing an extra boost to their investment potential. With the addition of Singapore Projects, this investment potential is further enhanced, making these areas even more attractive for prospective property buyers.
The area is well-connected with major highways such as East Coast Parkway (ECP) via Bayshore Road and will be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line when it opens in the second half of 2026. The property is also located near several schools, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.