SRI’s upcoming auction on March 15 will showcase a 99-year leasehold semi-detached house with a guide price of $3.65 million. This three-storey property sits on a 3,034 sq ft corner plot in Kew Heights, District 16. The price of $3.65 million translates to a land rate of $1,203 psf.
Previously owned by a mortgagee, this will be the first time the property is being offered for sale through an auction. The buyer will obtain vacant possession of the house. Spanning across 4,436 sq ft, the house boasts six bedrooms, a family area, and a storeroom spread over three levels. The ground level includes a living hall with a double-volume ceiling, a dining area, a kitchen, and a helper’s room. Additionally, the property features a car porch and a backyard area.
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According to Mok Sze Sze, managing partner of auctions and sales at SRI, potential buyers can potentially convert some of the open spaces into additional bedrooms, making it an ideal choice for extended or multi-generational families. She also points out that compared to other properties in the area, the land rate of $1,203 psf is relatively lower. In November 2021, the property was sold for $3.19 million ($1,051 psf) according to URA caveats.
Last year, two other 99-year leasehold landed properties in the Kew Vale estate were sold. The latest transaction was a three-storey semi-detached house that fetched $3.35 million in February. It sits on a 2,396 sq ft land area, resulting in a land rate of $1,398 psf. The other transaction was for a three-storey terraced house on a 2,300 sq ft plot of Kew Drive, which was sold for $3.26 million ($1,417 psf) in January.
Property prices for 99-year leasehold semi-detached houses in the Kew Vale estate have seen a steady increase in recent years. URA Realis data shows that seven such houses were sold in 2023 and 2024 at an average land rate of $1,213 psf. This is a significant increase from the average land rate of $1,002 psf from seven transactions between 2021 and 2022.
The property is conveniently located near major expressways such as the East Coast Parkway (ECP) via Bayshore Road and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line in 2H2026.
There are also several prominent schools in the vicinity, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary. Interested buyers can explore the latest listings for properties in Kew Vale through the Ask Buddy app, and also view past sale transactions and price trends for condos and ECs in District 16.