A 99-year leasehold semi-detached house in District 16 will be up for auction on March 15 at SRI’s next auction with a guide price of $3.65 million. The property, located on Kew Heights, sits on a 3,034 sq ft corner plot and boasts a land rate of $1,203 per square foot.
This mortgagee sale marks the first time the property will be available for purchase through auction. It will be sold with vacant possession.
The semi-detached house spans over three floors and offers a floor area of 4,436 sq ft. The ground level features a living hall with a double-volume ceiling, a dining area, a kitchen, and a helper’s room. The upper two levels house six bedrooms, a family area, and a storeroom. Additional features include 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 chance to convert some of the open areas into extra bedrooms, making the property perfect for extended or multi-generational families. Additionally, the guide price of $1,203 psf is considered one of the lowest in the area. URA caveats 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 properties in the Kew Vale estate were sold. The most recent transaction was a three-storey semi-detached house on Kew Heights that sold for $3.35 million in February. It had a land area of 2,396 sq ft with a land rate of $1,398 psf. Another property, a three-storey terraced house on Kew Drive, was sold for $3.26 million in January ($1,417 psf).
The average land rate for 99-year leasehold semi-detached houses in the Kew Vale estate has been on the rise. According to URA Realis, between 2023 and 2024, seven semi-detached houses were sold at an average land rate of $1,213 psf, compared to seven transactions in 2021 and 2022 with an average land rate of $1,002 psf.
The location of the property also offers convenient access to major motorways like the East Coast Parkway (ECP) via Bayshore Road and will soon be served by the Bedok South MRT Station along the Thompson-East Coast Line in 2H2026.
The area is also surrounded by several reputable schools such as Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary. Don’t miss this opportunity to own a property in Kew Vale. Check out the latest listings and sale transactions for Kew Vale properties on Ask Buddy. You can also compare the price trend of condo new sales versus EC new sales, and view the most expensive condo projects in District 16.